Business for Sale: Insurance Reconstruction Company — UNDER LOI

Business for Sale: Insurance Reconstruction Company — UNDER LOI

Harvest Business Advisors is pleased to showcase this business for sale. An award-winning and highly profitable insurance reconstruction company, they specialize in reconstruction and repairs to damage caused by fire, water, wind, storm, vandalism or burglary in residential and commercial properties. The company also provides complete home remodeling services.

Licensed, insured and bondable as an independent Class A General Contractor as well as a licensed lead paint restoration contractor, the business is known for its outstanding customer service and extremely favorable customer reviews. The company operates at 40+ percent gross profit margins and, due to its insurance relationships, does not need to bid for opportunities.

The 25+ year old business is located in the fast-growing and highly stable Washington DC metropolitan region. The owner wishes to retire but a strong management team is in place. All operational procedures are well-established.

ASKING PRICE: $2,100,000

* Revenues for the business were down in 2020 due to:
1. Homeowners choosing to do repair work on their own because they are at home due to COVID
2. Homeowners receiving insurance claim checks but not applying funds towards repairs due to financial reasons
3. Homeowners not wanting outsiders in their home due to COVID fears

** SDE was positively impacted by the Federal Government’s COVID-related PPP loan and payroll tax credits — a one-time occurrence of $293,604

Ideally Suited for A Buyer Who is:

  • A company seeking to add construction to its existing business
  • A company or individual desiring to engage with a major insurance carrier
  • A large company outside of the Washington DC area wanting to enter this booming market
  • A mitigation company wishing to add construction for a complete service offering
  • An experienced business professional wishing to purchase their first business

This acquisition would be very desirable for an out of state construction company which desires to expand their presence into the highly desirable DC market or for a mitigation company seeking to add construction to its offering. Buyer must have experience in construction, mitigation or a related business.

 

Please Contact Richard Stopa (RStopa@HarvestBusiness.com) at 703.307.1187 to discuss this business in more detail.
Open with Adobe Reader, use their Fill and Sign Feature to complete and electronically sign the document, then return to RStopa@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.

With Simple Adjustments, Harvest Continues Doing Business

With Simple Adjustments, Harvest Continues Doing Business

There is no denying that the Corona Virus Pandemic has dramatically changed the way we live and the way we do business. However, the Harvest Business team is encouraged that business transactions are continuing, although they are being handled slightly differently.

 

Case in point: Harvest Business Advisors Partner Richard Stopa recently held a buyer-seller meeting with seven people, with social distancing and other CDC recommended best practices incorporated.

 

A very interested buyer wished to meet with the owners of a Virginia accounting practice that Richard represents. The first inclination might have been to postpone the meeting or conduct the meeting virtually.

 

However, the buyer is eager to move the potential purchase of the business forward. Richard was happy to work out arrangements that helped the buyer learn more about the business and also gave everyone involved a degree of comfort in conducting a face to face meeting.

 

The meeting took place on a Saturday when the sellers’ employees were not in the office so as to maintain the confidentiality of the potential transaction and also reduce the number of people in one setting.

 

The buyer party and seller party, along with Richard, met in a very large open area of the sellers’ office where there was plenty of air circulating. All parties maintained proper social distancing (in this case actually 8 to 10 feet instead of the recommended 6-foot distance). We provided ample hand sanitizer, disinfecting wipes and other cleaning products. All parties, of course, wore face masks.

 

The only real difficulty was the limitations of the face masks. The parties couldn’t see each other’s entire faces (and expressions) and the masks muffled the conversation a bit, a minor inconvenience.

 

All told, the meeting was very positive. And the transaction will continue to move forward.

 

This meeting proved that business with our clients can be successfully conducted during a pandemic as long as all parties are cautious, flexible and open-minded.

 

Look for the transaction to be announced here in the near future.

 

And, if you would like to discuss any of the current business listings Harvest has posted or chat about listing your business for sale, we are ready to move forward with you.

 

This article was written by Richard Stopa, Harvest Business Advisors.


Clients choose Harvest Business Advisors for our accurate business valuations and our proven ability to deliver the highest price in the smoothest sale transaction possible. 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.

Contractor Business Sold: Testimonial

Contractor Business Sold: Testimonial

“The most professional group I had worked with” – Steve Hershey, Intown Restorations.

Harvest Business Advisors, Mid-Atlantic business brokers and valuation experts, are pleased to be able to represent InTown Restorations, a long standing Concrete subcontractor in the Virginia, Maryland, and DC Market Area.

Intown Restorations has a 30 year history of working for many general contractors in the Washington DC area.  Harvest Business Advisors was able to find a well qualified buyer who is putting resources into the firm and beginning a path of expansion.

Harvest Business Advisors has experience selling construction contractors and subcontractors including HVAC, electrical, plumbing, insulators, engineering and management firms and the like.


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.

State by State “Reopening” Status

State by State “Reopening” Status

Harvest Business Advisors serves businesses in multiple states. Our brokers have been carefully tracking how the state governors have been dealing with the COVID-19 crisis – and watching how they are approaching “re-opening” their state’s businesses. It’s a delicate balance between public health and the health of the economy, between protecting worker’s safety and providing a safety net for business.

Here is a recap of recent statements by each state in our service area:

Maryland

Other than keeping Marylanders safe and saving lives by defeating COVID-19, there is absolutely nothing more important to me than getting people back to work and getting businesses reopened. I want to get people back on their feet and get our economy back on track. We will do that as quickly as we possibly can in a safe, gradual and effective way.” Said Governor Larry Hogan as he unveiled the state’s Maryland Strong Road to Recovery   plan on April 24, 2020. The Road to Recovery identifies key risk factors milestones which are broad in character and contains components within each stage.

Schools will remain closed for this school year.

Virginia

Gov. Ralph Northam issued a stay-at-home order effective until June 10. A separate executive order that restricted certain businesses and crowds of more than 10 people will expire May 14. Governor Northam recently suggested some restrictions may be lifted, a “soft” re-open but has not yet provided specific details.

On April 24, Governor Northam shared the progress made by Virginia and a blueprint for phases for reopening the state if certain health benchmarks are met and maintained.

Schools will be closed for the remainder of the school year.

Elective surgery and dental procedures in Virginia were allowed to resume on May 1.

Washington D.C.

On April 23,  Washington DC Mayor Muriel Bowser has created a “ReOpen DC” Advisory Group which will include experts from the Johns Hopkins Bloomberg School of Public Health.

“ReOpen DC is about working together as a community to reopen Washington, DC in a way that is safe and sustainable. Together, we will create a plan that is based in science and tailored to the needs of our community.” said Mayor Bowser.

ReOpen DC has defined on three phases of reopening:

  • Emergency Response – Where we are now
  • Stabilization – what ReopenDC will focus on, which involves relaxing restrictions but closely monitoring and quickly responding to negative metrics
  • Long-term Recovery – How we find a new, more resilient normal. Likely started once a vaccine is widely available

 

New Jersey

“Extending this declaration ensures that we can continue using every resource at our disposal to mitigate the spread of COVID-19,”said Governor Murphy.“But I want to ensure that this extension is not interpreted to mean that we are reconsidering our path forward or changing course on the principles I laid out last week in the Road Back plan. We will continue to stand by these principles and protect public health as we responsibly take steps to get the economy moving again.”

Schools will remain closed through this school year.

Governor Murphy introduced New Jersey’s “Road Back Plan” that covered economic recovery and public health needs.

Pennsylvania

The commonwealth of Pennsylvania released their Return to Work Plan, determined by county statistics and milestones and specifies Work and Congregate Setting Restrictions and Social Restrictions in phases.

“We are planning for the days and weeks ahead when we will not only safely return Pennsylvanians to work but return to a different and more resilient Pennsylvania. While we cannot be certain of the future path of this disease, our decisions will be driven first by prioritizing the health and safety of all Pennsylvanians.

To that end, the Commonwealth is partnering with Carnegie Mellon University (CMU) to create a data-driven decision support tool that will enable a balance between maximizing the results of our economy while minimizing public health risks”.  said Governor Wolf.

Note: Pennsylvania and New Jersey are part of a coalition of northeastern states coordinating the reopening of the economy safely in that region.

Harvest Business Advisors encourages all our colleagues to continue to protect their health and the health of their employees. We can help you with your business health – and would welcome a conversation about how you can not only survive now, but prepare your business for the eventual rebound. Feel free to connect with us


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.

CDC Releases Draft Guidance for Reopening Businesses, Restaurants, Bars

CDC Releases Draft Guidance for Reopening Businesses, Restaurants, Bars

The CDC has released draft guidelines for the President to review and approve outlining measures to be taken by businesses as they reopen.  Specific sections address businesses with Vulnerable Employees (page 10), Restaurants and Bars (page 12) , Child Care Centers, Schools and Day Camps, and Communities of Faith.

Click here for CDC Interim Guidance for Opening Businesses.

The guidance is very detailed outlining three phases.

Phase 1 suggests strict social distancing, closing common rooms like break rooms, telework, and other restrictions.

Phase 2 suggests moderate social distancing, shifts for common rooms, maintaining telework, etc.

Phase 3 is closer to the norm although limited social distancing is still suggested.

These guidelines are subject to change as there are many concerns about their work-ability.  Namely, can social distancing be maintained and other suggested requirements?  How are health checks performed while still maintaining required confidentiality? We are sure this will all be clarified over the next few weeks.

According to the Washington Post, the bulk of these guidelines are expected to go into effect sometime over the next seven days or so.

 


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.

Articles and Data Relating to Your Business and Coronavirus

Articles and Data Relating to Your Business and Coronavirus

Harvest Business Advisors have created this collection of current articles that may be of interest to sellers, buyers, business owners and advisors relating to Coronavirus, industry and the economy.

We are always available to discuss how this might impact you, those close to you, and your business.

We hope you find these helpful.


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.

How May We Assist You?