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Tank Removal Service for Sale in Southern Connecticut
| Reference #: |
05221630
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| Location: |
Southern Connecticut
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| Price: |
$350,000 |
| Amount Down: |
$350,000 |
| Revenues: |
$973,578 |
| Discretionary Earnings: |
$65,816 |
| Total Assets: |
$767,600 |
| Business Description: |
Business provides contract services in fuel tank testing and removal. Company also installs new tanks. Breakdown is roughly 60% residential customers (homes) and 40% commercial customers. Commercial is defined as office buildings, strip malls, gas stations and municipalities. More broadly, a customer is anyone who needs a tank tested, serviced, installed or removed. Company employs nine people. It owns and operates equipment with an original cost in the $700,000 range that is roughly worth about $150,000 at current values. Company rents office space of about 900 sq. ft. for $800 per month and this also includes space to park the Company's mobile equipment. Owner has no personal Licenses but the manager holds an S1 License for the state of Connecticut. A home improvement license may also be needed for certain jobs. For the year 2010 sales of $973,600 were down about 18% from 2009 while net income was $64,773 for the year 2010, down 64% from 2009 per the Company's financial statements. Owner cash flow including add backs to net income was in the $150,000 range for 2010. Economic factors were the prime reason for the decline in 2010 versus 2009 plus the fact that the owner has been retired since 2008 and has a limited role. Business is operated by a manager. |
Contact Us About This Business For Sale
The information above has been provided by the seller and/or the seller's financial advisors and has not been verified by this independently owned office, its representative, or VR. This independently owned office, its representative, and VR make no warranty regarding the accuracy of this information and advises prospective buyers to conduct their own due diligence prior to purchasing any business. |
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