Business for Sale: Established HVAC Contractor, Residential

Business for Sale: Established HVAC Contractor, Residential

Harvest Business Advisors is pleased to announce the sale of this Northern Virginia air conditioning and heating services company.

Congratulations to the new owners! Best wishes to the sellers on their next adventure.

The company services residential and multi-family customers in Northern Virginia, Maryland and Washington D.C.

Highlights include:

Established in 1977, this contractor is a factory authorized dealer for major air conditioning and heating system manufacturers.

The company is led by an experienced management team and has five 5 skilled technicians who are NATE and factory certified.

The company has approximately 900 recurring long-term services contracts and a system in place for nurturing customer relationships.

The main facilities are conveniently located, owned by the sellers, and are available for purchase or lease.

No additional capital investment needed to maintain high standards and continued profitability.

The company’s average 3-year revenue is $2.2 million.

Possible buyers could be in a related industry seeking growth/diversification opportunities with an established, successful company or an industry buyer who would like to expand their capabilities and service geography area.

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.


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: 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.

3 Tips for Business Owners and Business Sellers – July 2020

3 Tips for Business Owners and Business Sellers – July 2020

Since the outbreak of Covid-19,  the business brokerage / investment banking world seems to change dramatically every 30 days.

As we enter the middle of summer, here are three tips we are giving business owners and business sellers:

 

1. After the 30 to 45 Day Shut-Down Starting in Mid-March, There is a Market Again  

But, banks and institutional lenders have gotten much more cautious, taking marginal buyers out of the market.

We are qualifying prospects more carefully so we do not risk wasting a lot of time on transactions that cannot be financed.

We do recommend that if you receive a good offer, take it seriously as it will be harder to obtain as many offers as before this started.

 

2. Run Your Business Like You are Going to Own It Forever Particularly During a Sale Process

Your best negotiation strategy is that you are making money and will keep running it if you must.  Be profitable every day.

Clearly, due to current circumstances, some businesses cannot do that.  They should not sell at this time unless they do not have a choice.   Unfortunately, there are going to be a lot of unavoidable bad outcomes due to Covid.

If your business is in the middle ground, make the tough choices and get pricing up if necessary. Always work toward having your costs in line with your likely revenues.

 

3. Good Companies will Attract Buyers

The discount you will need to give from your February 2020 price is going to depend on the uncertainty in your industry, your supply chain, your customer concentrations etc.

The sense of risk has been elevated.  How high that perceived risk is will vary from no perceived increase in risk with liquor stores to incredible going concern risk with high end sit down restaurants.

Most businesses are somewhere in the middle and it appears they can sell with price reductions that make sense compared to the increase in risk.  Buyers and sellers may consider forms of risk sharing through earn outs and the like.

If you would like to learn the value of your business as you make important decisions, please connect with us. We would be happy  to discuss your business’ market appeal.

 


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 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.

Understanding and Preparing for SBA Loan Process

Understanding and Preparing for SBA Loan Process

Paycheck Protection Program  

Currently the Paycheck Protection Program is out of funds.  It is likely that Congress will approve more funds.  It is not clear when.

The Paycheck Protection Program overall allows for the payment of 2.5 months salaries, rents or mortgages, and utilities and will be forgiven if certain conditions are met.  

Forgiveness is based on maintaining salary levels. The unforgiven portion has a 2 year maturity and an interest rate of 1%.  

Salary is fairly broad and includes wages, cash tips, commissions, health care benefits, insurances, vacation or sick leave, retirement benefits and state and local taxes assessed on the compensation of the employee. 

It is capped at $100,000 per employee and the employee must be in the United States.  Benefits can be above the cap.

Details are provided below.  

To prepare for the application process: 

  • 2019 financials and federal payroll filings (940, 941) need to be in good order. 
  • Some banks may request W-3’s and W-2’s.  
  • Leases, invoices or bills for utilities and other source documentation must be provided.  
  • If you are self-employed, tax returns and 1099’s from clients will be required.  

More comprehensive information can be found at the Small Business Administration website.

 

Economic Injury Disaster Loan Emergency Advance

The Economic Injury Disaster Loan Emergency Advance is a $10,000 advance directly from the SBA that does not have to be repaid.  

The Company must meet SBA size tests or have less than 500 employees.   At least one source indicated that the advance will be given at the rate of $1,000 per employee.  

The Company can be a charity, church, business, or self-employed person.   

The loan application requires tax returns and evidence of harm.  The loan amount is make-up for the harm. It is unclear from summary information how that will be calculated. 

 A summary with a reasonable level of detail is available here

Please feel free to reach out to us with questions or issues. We have many resources available and can easily refer you to the appropriate expert if necessary.

 

 


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.