Annual Figures 2024:
– Gross Sales: $5,908,014
– Net Profit: $457,576
Expenses 2024:
– COGS: $5,103,124
– Business started in 1995
– Located in upstate South Carolina
– They focus on custom home building projects
– Employees: Owner, wife is part time, 2 helpers (W-2’s), owner and accountant locally does back office
– Owner does estimating, sales, project manager, and some accounting
– Subcontractors have been with him over 15 years
– Owns the office building – 1 acre (worth around $275,000). Will lease back or can be purchased for the additional amount
– Typically completes 10-12 homes per year
– Average price per home is around $900,000
– Tracking for roughly $5,200,000 in revenue for 2025
– Backlog of 2.5 mil in 2026 so far. Has 8 projects going on now. Owner thinks 2026 will be a really good year
– Most of the business comes from website, word of mouth/referrals
– Marketing company handles the advertising (Google & Facebook)
– Some repeat customers. Completed multiple homes for 4 different clients
– Use Quickbooks online and Softplan for designing
– Just need a residential builder license. Seller is not a GC
– Mainly does cost plus pricing on bigger homes, smaller homes some fixed contract
– The owner is at capacity but there is plenty of demand in the area
– Seller will help transition for 60-90 days and stay on to complete his homes he started. Would be open to staying on for sales, if needed.
– Seller note would depend on the rest of the offer
– Reason for the sale: Owner is in his 60’s and is retiring soon
From Tax Return:
2024: Gross: $5,908,014
Addbacks:
Compensation of officers: $60,000
Interest: $2,640
Depreciation: $4,927
Ordinary business income: $390,009
Adjusted net income for 2024: $457,576
Additional $25,000 in miscellaneous net profit to be added
