Business Summary:
This upstate New York company provides environmental services regionally and has generally low inventory, as everything needed is purchase based on the job at hand. This company provides asbestos removal, lead remediation, and fireproofing services. They are consistently seeing year over year growth and hit over $8M in revenue in 2021! They have been established in upstate New York since 2012. Most business is accomplished in Upstate New York (85%), with the remaining work completed in the New York City area. Customers include government organizations, state agencies, general contractors, construction managers, property managers, and property owners. Project timelines are from a few weeks to a several months long and most contracts (85%) are earned through a request for proposal process. Rarely subcontractors are utilized for large projects or those at long distances. Supporting this team are two supervisors, one accountant, and one team assistant. The company operates from a small office and warehouse space. Purchasing and storing large amounts of equipment is not necessary as this business rents any large items needed to complete projects and houses very few assets on site. All inventory and materials are ordered by project and may be briefly stored by this business or drop-shipped to the work site. Priced at $898,000, a 12.5% down payment returns $147,250 in the first year after debt payments – a 131% return on investment! Opportunities are plentiful for growth in the New York City Area as well as widening the service area to include New Jersey, Pennsylvania, or additional regions of New York.
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