Woodstock Foundation Company

Woodstock Foundation Company for Sale

Background Information

This business has been in existence since 2002. The current owner started the business and has owned it for 8 years. It operates as a Subchapter S Corporation. This is an asset sale, with no real estate included as part of the sale. The business is currently run out of the owner's home with equipment stored in a separate storage facility.

Woodstock Foundation Company is a company which deals primarily in cement applications for building foundations, sidewalks, patios, stairs, and any other applications dealing with pouring and forming concrete. This business primarily serves communities located within a 20 mile radius of the Lincoln-Woodstock area. The company is well known and respected in the area, and its reputation is very strong.

The Industry

As with all building trades nationwide, the foundation business has seen its own share of declining business in the last couple of years. New construction is down, but remodeling projects create the potential for business as homeowners are looking to add on rather than purchase new. As consumer confidence increases, the expectation is that the demand for construction projects will increase as well.

The business is located in the White Mountains region of New Hampshire, where the foundation business is seasonal and weather dependent. The season runs from April to November as the weather allows and as the projects dictate.

Woodstock Foundation Company's primary competitors are located within a 20 mile radius, but none of them are located in the Lincoln-Woodstock area itself. The owner's strong character and entrenched relationship with the community has helped to drive the demand for his services. This personal attention to quality control and contractual fairness is the foundation upon which this business has grown and prospered.

For further information on the state of the cement foundation and fabrication industry in the White Mountains region of New Hampshire and nationally, contact the following entities:

Lincoln-Woodstock Chamber of Commerce
P.O. Box 358, Kancamagus Highway
Lincoln, NH 03251
603-745-6621
www.lincolnwoodstock.com
Concrete Foundation Association of America
P.O. Box 204
113 W. First St.
Mt. Vernon, Iowa 52314
319-895-6940
www.cfawalls.org

Location

Woodstock Foundation Company is located in North Woodstock. The Lincoln-Woodstock area is the hub of the western White Mountains tourism industry. Myriad hotels, motels, condominiums, service businesses, restaurants, and residents make up the local community, as well as the other market communities which extend south to Plymouth. There are plenty of residential and commercial opportunities for a foundation company to find and maintain customers. Consistent, high quality and reliable service and end product are the keys to repeat and referral business, and Woodstock Foundation Company has maintained loyal customers because of its strong, quality based reputation.

Physical Condition

All furniture, fixtures, equipment, and vehicles are well maintained and are in good to excellent condition.

Reason for Selling & Other Facts

The owner's health has forced him to look into selling his business. He is willing to sign a non-compete as he doesn't intend to create another foundation company after the business is sold.

The current owner is willing to stay on in an advisory capacity during the first year of operation for a new owner, as needed, and as negotiated.

Inventory of Furniture, Fixtures & Equipment

  • 2002 Silverado pick-up
  • 1978 International truck, body, crane
  • 2-12' concrete chute
  • 2-16' concrete chute
  • 2-14" Husqaarna saw
  • Vibra Strike 2 concrete screed
  • 10' screed
  • 14' screed
  • 12' aluminum screed board
  • 14" MK walk behind floor saw
  • 36" bull float with handles and swivel
  • Gas generator
  • Spectra Laserplane 500 with tripod
  • Theodilite transit
  • 2-Bartell 36" power trowel B-446
  • 3 gallon form sprayer
  • Misc. hand, power, and battery tools
  • 2-Jackson wheelbarrow
  • Top-hat propane heater
  • Concrete vibrator
  • Nail shooter with supplies
  • 2-Re-bar bender
  • 2-Banding box
  • 230-top whaler brackets
  • 150-middle whaler brackets
  • 55-staging brackets
  • 350-stacking clips
  • 44-45' angle clips
  • 88-half clips
  • 77-full clips
  • 93-offset clips
  • 50-footing pins
  • Sidewalk forms
  • 4-beam pockets
  • 34-5'x20' insulating blankets
  • 120-2' forms
  • 405-4' forms & 33 corners
  • 194-5'4" forms & 20 corners
  • 296-8' forms & 33 corners
  • 9-4' form baskets
  • 9-5' form baskets
  • 12-8' form baskets

The total estimated value of the Furniture, Fixtures, and Equipment for this business is $84,733.

Inventory

The approximate total fair market value of saleable inventory to be left at closing is $0.00. An inventory of all items should be taken at the time of closing and the value adjusted (up or down) depending upon its results.

Not Included in the Sale

  • Cash on hand
  • Business bank accounts
  • Accounts Receivable
  • Accounts Payable
  • Outstanding loans
  • Any other security deposits and prepaid expenses

Hours of Operation/Employees

This business is in operation 5 days per week, 10 hours per day.

Employees: 2 Full-time, 2 Part-time, all paid hourly.

Size of Facility

There are 13 permanent structures on the property including a Main Office/General Store, 4 one-room cabins, 2 two-room cabins, metal shop, 2 bath houses, game room, ping-pong pavilion, and a double-wide manufactured home used as the owners' residence.

Annual Sales Volume

Available upon completing a Confidentiality Agreement.

Expenses

Available upon completing a Confidentiality Agreement.

2004-2008 Profit and Loss Statements

Available upon completing a Confidentiality Agreement.

Ways to Improve the Business

The current owner believes that by purchasing a pump truck, setting up a second crew, and expanding beyond the 20 mile radius where he currently works, profits would be greatly increased.

Recommended Listing Price (RLP)

The RLP justification for this business is as follows:

The business has gross revenues of: *
The business has average SDE over last four years of: *
Salable Inventory at Cost: $0.00
Furniture, Fixtures and Equipment: $84,733
RECOMMENDED RLP: $89,900

*Available upon completing a Confidentiality Agreement.

Ownership Transfer Specifications

The current owner is asking $89,900 total for the business. He is willing to offer financing terms to a qualified buyer.

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