Growing Painting Contractor serving Northern Virginia / West Virginia
| Asking Price: | $450,000 |
| Gross Revenue: | $1,387,964 |
| Established Year: | 2017 |
| Cash Flow: | $284,482 |
| FF&E: | $30,000 |
Highly-Rated Business in a Prime Market!
Excellent opportunity to own a locally owned painting company with a top-rated reputation in both the commercial and residential repaint markets. The business was founded in 2017 and has expanded from a single van and 1 man crew to running sub-contractor crews with annual revenues regularly over $1 million the past several years. The residential painting side of the business has grown considerably over the past several years. The commercial side of the business has been consistent, but has consolidated around a group of main recurring clients and not competing/bidding for “one-off” projects. The primary services offered are interior and exterior painting, drywall, and light carpentry work.
There are two owners, one based in West Virginia and one in Loudoun County, Virginia which allows the business to comfortably serve both markets. Approximately two-thirds of the business is in Northern Virginia and one-third in West Virginia. The business has at times done work in DC and Maryland, but they are not an area of focus. A majority of the actual painting work is outsourced to subcontractors, but the owners handle most of the administrative/back office work, operations management, sales, estimates, and quality control. They have outside consultants who perform accounting and bookkeeping functions and provide marketing/website services.
There are established systems and software in place that allows the owners to manage and analyze projects and performance to ensure that all the projects consistently deliver quality service, professionalism, and a high level of project management. The markets they currently serve continue to grow in population and the opportunity for expansion is significant. The ownership team is very experienced with nearly four decades in the industry and is willing to train and support the new ownership/management. One van -- fully equipped with ladders, sprayers, and other miscellaneous tools – and one sales vehicle (a combined value of $30K) will be transferred to the new owners free and clear.
The business has an excellent reputation in the area and countless highly rated reviews on popular online platforms like Google. The demand for painting services in the Northern Virginia and eastern West Virginia market has been robust as the housing market remains strong, so this is an attractive way to enter the industry without the headaches and time of staring a new business from scratch. This business might also make for an attractive acquisition for an established contracting company that is looking to expand their reach into painting services.
