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Businesses For Sale > Business For Sale in Wake County, North Carolina (NC)
Absentee Moving & Storage Company in the Triangle for sale in Wake County, NC
Wake County, North Carolina (NC)
| Asking Price: |
Gross: |
Cash Flow: |
| $ 649,500 |
$ 1,127,884 |
$ 272,914 |
Furniture and Fixtures Value:
$ 245,000 (included in the asking price)
Business Summary:
This Triangle, NC-based moving business has over a 25-year history of offering high-quality local and long-distance moving services for commercial and residential clients as well as onsite, vaulted storage. Its exceptional and consistent customer service has developed an industry-leading reputation for its brand among customers and was recently named one of the best moving companies in the local region. The Company has experienced staff, and all vehicles and equipment required to serve its customers are included in the sale. Currently, run absentee (less than 5-hours a week), the Discretionary Earnings shown is for a full-time owner/operator. The Discretionary Earnings for an absentee owner (i.e., the Adjusted EBITDA) in 2022 would have been $202K.
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| Year
Business was Established: 1998 |
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| Number of Employees:
15 FT |
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| Facilities / Terms of Lease:
Industrial distribution property with 21,000 sq ft. rented, with more rentable space available. The building is located on a 2-acre lot.
The facility is well-kept, with plenty of convenient parking and access to/from the highways.
Current rent of $7,961/month, although possible increase from landlord to grant an assignment. Has quoted in the $9,100/month "ball park".
Possibility to mitigate a possible rent increase by renting a portion of the "yard" to the seller for his other business supplies. |
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| Potential
Growth/Expansion:
According to Our Town America, the Triangle is seeing a total of at least 5,000 new movers each and every month- roughly a 12% increase from last year. The Triangle can also expect to see even more people move to the area following Apple’s announcement that it is opening its first East Coast campus in Wake County. The company is expected to bring 3,000 new jobs and the state commerce department estimates the project will generate nearly $2 billion in additional state revenues through 2061.
The Moving Services industry's performance is closely linked to the real estate market and often follows trends in housing construction because individuals and families moving to new residences are a major driver of demand growth. Over the five years to 2021, the house price index and housing starts are expected to grow at annualized rates of 4.6% and 4.5%, respectively. On the commercial side of the market segment, when business sentiment and corporate profit are healthy, businesses are more likely to expand and use third-party suppliers to move offices and send employees to new locations. Forecasts expect industry revenue to increase at an annualized rate of 1.7% over the five years to 2026, totaling $19.2 billion.
Although the Moving Services industry experienced a decline as a result of the ongoing Covid-19 pandemic, negative effects of the coronavirus outbreak will likely be resolved in 2021 enabling the industry to grow over the five years to 2026. Along with the general domestic economy, both new residential construction spending and commercial construction spending are expected to continue to grow, allowing the industry to rebound from 2020 coronavirus lows. With corporate profit estimated to increase at an annualized rate of 7.9% over the next five years, the corporate customer market segment is expected to improve, no longer hindering revenue growth. |
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| Competition:
The Moving Services industry has a low-level of market share concentration, with the top four largest operators accounting for 9.5% of industry revenue. Most industry companies are small operators that participate in this industry as agents or subcontractors of larger companies or as local moving companies. According to the US Census, 83.9% of the employing companies in this industry have less than 20 employees. This business has an industry-leading reputation and has received several accolades within the local community. |
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| Owner
willing to finance:
Lender pre-screened with $64,950 down. |
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| Owner
willing to train:
Will train for 4 weeks @ $0 cost. |
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| Reason for selling:
The owner has another business that requires his focus. |
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Seller Reference Number: 1310-16950
BusinessMart.com Listing Number: 297912 |
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To request more information
on this business
please fill out the form shown right 
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For
more info contact:
Evelyn Correa
Murphy Business & Financial Services
727-725-7090
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