Glass & Fabrication Company
Background Information
This business has been in existence since 1970. The current owners have owned it for 20 years. It operates as a Subchapter S corporation. There is no real estate included as part of the sale as the business leases its space.
This is a glass and fabrication company serving Northern New Hampshire, Vermont, and Maine. The majority of their revenue (65%) is realized through commercial accounts, contract work, and sub-contracting for general contractors. Commercial products include storefronts, sunrooms, commercial entrances, architectural panels, glass railings, awnings, mirrors, and all types of glass and metal fabrication. The remainder of their business is retail oriented, including auto glass repair; sunroof installation; residential window repair and replacement; tub enclosure sales; glass block installation; sun room and skylight installation; and window quilts.
The business was started by the current owner's father in 1970 and he has owned and operated it with his wife for the last 20 years.
The Industry
Residential business activity has waned quite a bit in the last 16-24 months due to the uncertainties and lack of confidence that many homeowners are feeling towards the economy. Commercially, there are enough second homes still being built and good relationships that have been built up by the company to see this segment of the industry continuing to grow. Overall, business has been fairly steady over the past four years and the anticipation is for that trend to continue.
For further information on the state of the glass industry in Littleton and New England, contact the following entities:
Littleton Area Chamber of Commerce
32 Main Street, Suite 108
Littleton, NH 03561
603-444-6561
www.littletonareachamber.com
Northeast Kingdom Chamber of Commerce
51 Depot Square, Suite 3
St. Johnsbury, VT 05819
802-748-3678
www.nekchamber.com
National Glass Association
8200 Greensboro Drive, Suite 302
McLean, VA 22102
866-342-5642
www.glass.org
Location
The business's physical location is in New Hampshire's Northern Grafton County. Vermont is 15 miles to the west and Maine is 40 miles to the east. Within a 40-mile radius there are ample business opportunities commercially in major downtown areas, in new construction throughout the region and residentially for both primary and secondary home owners. The business moved a few years ago to take advantage of the availability of a larger space at a more reasonable rent. There is ample parking externally and internally, office space, substantial warehouse and manufacturing space, and both internal and external storage space.
Physical Condition
The business is housed in a 4000 square foot building which is in good condition. The landlord is responsive to any needs of the physical plant. All vehicles are maintained religiously and are in good to excellent condition. The condition of the furniture, fixtures, and equipment are also good and well-maintained.
Reason for Selling & Other Facts
The owners are ready to semi-retire after being involved in the business for almost 40 years and owning it for the last 20 years. They are willing to sign a non-compete as neither of them intends to work in the industry after the business is sold.
The current owners are willing to stay on and train for two weeks after the transfer of the business at no charge. They are also willing to negotiate with a new buyer to train for a longer period of time at a salary should the buyer require that.
Inventory of Furniture, Fixtures & Equipment
Available upon request. The approximate total fair market value of the Furniture, Fixtures and Equipment is $126,864 as estimated by the current owner.
Inventory
The approximate total fair market value of saleable inventory to be left at closing is $20,000. An inventory of all items should be taken at the time of closing and the value adjusted (up or down) depending upon its results.
Hours of Operation/Employees
Monday through Friday: 7:30am - 4:30pm. Two full time employees, plus owners.
Annual Sales Volume
Available upon completing a Confidentiality Agreement.
Gross Profit Margin
Available upon completing a Confidentiality Agreement.
Expenses
Available upon completing a Confidentiality Agreement.
2004-2007 YTD Profit and Loss Statements
Available upon completing a Confidentiality Agreement.
Ways to Improve the Business
The current owners have explored the idea of adding vinyl siding and garage doors to their product line as they are within the direct scope of what they are presently doing. This business has never been open on weekends, so there may be opportunities available by having weekend hours. Finally, increased marketing and networking among contractors is always an option to help maximize revenues.
Recommended Listing Price (RLP)
The RLP justification for this business is as follows:
| The business has average (2004 - 2007) gross revenues of: | * |
| The business has average (2004 - 2007) SDE of: | * |
| Salable Inventory at Cost: | $20,000 |
| Furniture, Fixtures and Equipment: | $126,864 |
| TOTAL RLP: $189,900 |
*Available upon completing a Confidentiality Agreement.
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