Business for Sale: Specialized Truck Repair and Parts

Business for Sale: Specialized Truck Repair and Parts

Serving the Mid-Atlantic marketplace, this company re-manufactures and repairs components for medium and heavy-duty trucks. In addition, they sell related parts.

This company was established in 2004 in an ideal high-traffic location. Their customer base is deep and diversified.

They provide exceptional customer service which has resulted in long-term customer relationships.

Their management team is experienced and loyal. They have seven highly skilled technicians

  • No additional capital investment needed.
  • Average inventory: $100,000 (at cost)
  • Average 3-year revenue: $2,200,000

A strong prospective buyer would be involved in the trucking or repair industry or perhaps in a related industry, seeking growth/diversification opportunities. Experience in business management with sales background would be an advantage.

Please Contact: Eddie Davis (EDavis@HarvestBusiness.com or 301-325-7687) to discuss this business in more detail.

Click here for a Non-Disclosure Agreement and Finance Document.

Open with Adobe Reader, use their Fill and Sign Feature to complete and electronically sign the document, then return to EDavis@HarvestBusiness.com.

We will then be able to discuss financial details and other confidential information about the business with you.

Disclosure: We have relied on information provided and approved by seller and make no additional representations or warranties. Buyers should review with their advisors as needed

 


Clients choose Harvest Business Advisors for our sage advice on profitably growing their business, accurate business valuations, and when the time is right, a consistent ability to deliver a high price as part of a smooth exit transaction.Harvest Business Advisors provides business brokerage, business valuation, and business succession planning services.

We have extensive experience in the information technology and professional services, manufacturing, distribution, and contracting fields. We maintain offices in Maryland, New Jersey and Virginia. Connect with us at info@harvestbusiness.com or 877-838-4966 to discuss selling your business, ordering a business valuation or buying a business.

Business for Sale: Fire and Water Restoration/Cleaning

Business for Sale: Fire and Water Restoration/Cleaning

Harvest Business Advisors is pleased to present this Commercial Fire and Water Restoration Cleaning Company for sale.

For over 12 years, this commercial restoration cleaning company has been serving their Mid-Atlantic customers.

All key managers are responsible and will remain with the company. The technician team is well-trained and experienced.

This Company has stayed focused on necessary capital investments; equipment is up to date and modern.

Financial highlights:

Average revenues: over $2,000,000

Average historic seller’s discretionary earnings (SDE): $400,000

2019 SDE: $450,000.

  • Growing revenue and earnings history
  • Established industry accounts
  • Experienced long-term staff
  • Nine (9) vehicles including box trucks with lifts, vans, and cars (most less than two years old).
  • Extensive modern facilities in central locations
  • All equipment, trucks, people, leases, software, and rights to geographic area will convey.

Asking Price; $1,995,000.

The Buyer:

An industry buyer seeking growth opportunities with an established company or individuals with a general management/sales background seeking acquisition of profitable business.

Benefits to buyer include:

  • Reputation
  • Recurring revenue
  • Experienced technicians
  • Long term customer relations
  • No significant additional capital investment needed
  • Location and facilities

Connect with Greg Caruso (GCaruso@HarvestBusiness.com) at 877.838.4966 to discuss this business opportunity in more detail.

Click here for a Non-Disclosure Agreement and Finance Document.

Open with Adobe Reader, use their Fill and Sign Feature to complete and electronically sign the document, then return to GCaruso@HarvestBusiness.com.

We will then be able to discuss financial details and other confidential information about the business with you.


Clients choose Harvest Business Advisors for our accurate business valuations and our consistent ability to deliver a high price as part of a smooth exit transaction.

Harvest Business Advisors provides business brokerage, business valuation, and business succession planning services. We have extensive experience in the information technology and professional services, manufacturing, distribution, and contracting fields. We maintain offices in Maryland, New Jersey and Virginia. Connect with us at info@harvestbusiness.com or 877-838-4966 to discuss selling your business, ordering a business valuation or buying a business.

Merger Synergy = Post Merger Success

Merger Synergy = Post Merger Success

You did your due diligence before acquiring a complimentary business entity. Now what is the key to post merger success? Due Diligence.

To achieve the synergy required to create the desired result, greater success requires your follow-through. As you redefine “The Company”, all of the early actions need to clearly express all policies and procedures and expectations. Subsequent frequent tracking is necessary to uncover any weaknesses that may exist and where your attention needs to be directed.

CFO Magazine has some time tested steps for you to take to ensure the smoothest transition. As laid out in this article, Four Keys to Realizing Post-Merger Synergies, directing your post merger efforts will go a long way towards efficiently achieving your target goal: greater success.

http://snip.ly/04x2n3


 

Clients choose Harvest Business Advisors for our sage advice on profitably growing their business, accurate business valuations, and when the time is right, a consistent ability to deliver a high price as part of a smooth exit transaction.

Harvest Business Advisors provides business brokerage, business valuation, and business succession planning services. We maintain offices in Maryland, New Jersey and Virginia. Connect with us at info@harvestbusiness.com or 877-838-4966 to discuss selling your business, ordering a business valuation or buying a business.

Want to Buy a Business? Letters of Intent 101

A properly crafted Letter of Intent (LOI)  is an important step after making the decision to purchase a business.

(Please note this is NOT legal advice.  Please retain an attorney familiar with local laws and customs before you finalize any purchase agreement).

The Letter of Intent is drafted by the Buyer and their advisors to inform the Seller (and their advisors) of the Buyer’s decision to formally discuss purchasing the business for sale.

The Letter of Intent is a preliminary document where the Buyer and Seller “agree to agree”.  Changes and edits can be made to the Letter of Intent to satisfy both parties.

The Buyer will have disclosed their financial standing and resources to the Seller already and signed a Non-Disclosure Agreement.  The Seller will have shared  financial information with the Buyer and provided a Confidential Business Review.

The Letter of Intent sets the due diligence process in motion.

“Ten Steps to Increase the Value of Your Business – click here to download today.

Discuss with your advisors what you need to include in your letter of intent. Now is the time to ask questions, receive advice and process information about important decisions.

There is no typical Letter of Intent since each business sale is unique. However, there are some standard features:

Purchase Price: The purchase price is the total amount the prospective buyer will pay for the business.

Financing Specifics: Describes the basic deal terms such as down payment, financed amount (either through bank or seller), and if necessary, contingency details. If you intend SBA financing, all variables (other than payment of a fixed amount note) must be fully determined by one year from the closing date.

Due Diligence: The due diligence clause outlines the length of time the buyer has for their investigation process on the business. There should always be a clear start date and end date

Basic Conditions of the Sale including (but not limited to):

Earnest Money:  To confirm the buyer’s seriousness about buying the business, the LOI will include a set amount  of money paid to confirm the agreement. This protects the seller if the deal does not happen and time and expenses are lost.

Expenses: Outlines who pays what expenses.

Expiration: Details the termination of the agreement presented

Closing or Conditions of Closing: Usually outlines the high level details about closing the transaction, what the parties anticipate. Some of the items that can be listed here are closing date and any important contingencies, by either party. Decisions about who will write the final contact would be stated here.

 

We have found that asking what the minimum or maximum of something (price, down payment, seller financing, etc.) tends not to be productive.   It is almost impossible to get specific on a part of the transaction without have a reference to the whole offer.  The answer will always be – “it depends.”

Connect with Harvest Business Advisors today – email info@harvestbusinessadvisors.com or call 443.334.8000

Often to protect themselves, buyers add earn-out or claw-back clauses.  At a high level, this means buyers would tie payments into resulting cash flows.  Usually we use revenues because any other cash flow (such as profit) since it is hard to agree on later.  An example from a recent transaction is:

  • Last 3 years average revenues was $1,300,000.  If revenues from the 12 months following closing are less than $1,235,000 then the price will be reduced $1 for every $2 of revenue loss.  The price will not adjust beyond the $130,000 note amount and will be offset against the note to the extent the note is outstanding.

Arrangements for sellers to stay involved with the business beyond the closing or other milestones would also be included in a Letter of Intent.

A well-written Letter of Intent should bring parties together and help lay out terms as a way to reduce the risk of litigation and set the course for a successful deal.

We are happy to answer questions about Letter of Intent or guide you through this negotiation process.

It is an intricate dance.

In the end, with patience and perseverance, a Letter of Intent can be created that everyone can live with at the time of negotiation and be quite pleased with one year later.

 


Clients choose Harvest Business Advisors for our accurate business valuations and our consistent ability to deliver the highest price in the smoothest sale transaction possible. Harvest provides business brokerage, business valuation, and business succession planning services. We have extensive experience in the information technology and professional services, manufacturing, distribution, and contracting fields. We maintain offices in Maryland, New Jersey and Virginia. Connect with us at info@harvestbusiness.com or 443.334.8000 to discuss selling your business, ordering a business valuation or buying a business.

The One Thing Most Buyers Don’t Do Before Buying a Business AND It Affects Business Value.

Most buyers are obsessively thorough in their approach to buying a business. They exhaustively analyze the opportunity. They meticulously comb through the financials. They create long lists of questions for the seller. But there is one thing most of them don’t do.

Most buyers don’t really think about the day-to-day tasks of the business.

Some businesses are sales oriented. Others have a service focus. Some are centered around production.

Buyers need to ask themselves “Does the focus of this business work for me day in and day out?” and “What will I actually be doing each day?”

The savvy buyer will ask to shadow a business owner as they go about a typical day.

One buyer met the owner of an electrical business at 7AM and jumped in the truck with him as the owner visited job sites and interacted with employees. He then accompanied the owner back to the office as he planned for the next day and completed administrative duties. Participating in this “ride along” with the electrical company owner assured the buyer that this was the business for him. He came away from the experience exhilarated and ready to make an offer.

Another buyer expressed interest in buying a bar because “bars have music and I like music”. We suggested that this buyer follow a bar owner around for one weekend to view firsthand how much music the owner enjoyed. The buyer quickly saw what being a bar owner really meant in terms of daily tasks and realized that there was more administration, more hands-on management and far less enjoyment of music then he’d expected. The buyer decided to pursue another type of business to purchase.

There are many, many elements to consider when purchasing a business. Just be sure not to overlook the one that is going to impact you every day once you are the business owner.

 


Clients choose Harvest Business Advisors for our accurate business valuations and our consistent ability to deliver a high price as part of a smooth exit transaction.
Harvest Business Advisors provides business brokerage, business valuation, and business succession planning services. We have extensive experience in the information technology and professional services, manufacturing, distribution, and contracting fields. We maintain offices in Maryland, New Jersey and Virginia.
Connect with us at info@harvestbusiness.com or 443.334.8000 to discuss selling your business, ordering a business valuation or buying a business.

SBA Business Appraisals and SBA Business Valuations for SBA 7(a) Loans

SBA 7(a) Business Loans for business sale transactions often require a business appraisal or business valuation performed to SBA SOP requirements.  Harvest Business Advisors specializes in SBA Business Valuations.  Some recent examples:

  • Subway Sub shops.  We have performed multiple SBA 7(a) business valuations for Subways.  Some were high performers and some were not.
  • SBA 7(a) business valuation of local Wine Bar,  Bar and Grills, and Restaurants with liquor licenses and similar.  Again, a popular category with many being done each year.
  • Serve Pro’s and independent water damage & restoration contractors business valuations for SBA 7(a).
  • HVAC, Flooring, other Construction Contractors SBA 7(a) business valuations.

Harvest  Business Advisors valuation experts  have performed these SBA 7(a) business valuations for companies located in Maryland, New York, Virginia, Pennsylvania, and New Jersey.  Quick turn around.  Reasonable rates.

Considering Selling Your Business? Please click here for a downloadable e-book, “ 10 Ways to Increase the Value of Your Business“.

 


Clients choose Harvest Business Advisors for our accurate business valuations and our consistent ability to deliver a high price as part of a smooth exit transaction.
Harvest Business Advisors provides business brokerage, business valuation, and business succession planning services. We have extensive experience in the information technology and professional services, manufacturing, distribution, and contracting fields. We maintain offices in Maryland, New Jersey and Virginia. Connect with us at info@harvestbusiness.com or 443.334.8000 to discuss selling your business, ordering a business valuation or buying a business.