Overview:
Founded in 1999 and located in a high-end destination beach resort town, this long-standing custom remodeler has strong brand recognition with high net-worth individuals who own multiple residences. These individuals tend to build new when the economy is strong or remodel and/or add additions when the economy is soft. This company has weathered prior economic dips with relative ease as a result.
Regarding the current market conditions, the 2022 Top States for Doing Business report from Area Development ranks South Carolina #3 overall. And for the second year in a row, South Carolina is ranked #1 for its easy-to-navigate regulations. In addition, the rise of the housing market – U.S. News & World Report places Charleston on the list for Top 25 Fastest Growing Places in 2023. That’s because the area welcomes many new residents each year, and they need quality home services.
The company has a rather unique position as they also have a complete showroom representing specialized granite and cabinet offerings located in an extremely accessible section of town. This showroom provides an inviting “one-stop-shop” experience for high-end clients who wish to remodel their homes.
This showroom also affords the company an additional opportunity to supply other segments in which they don’t participate construction wise (e.g; tract builders). To this end, the company has built relationships with several nationally recognized tract builders for these higher-margin products making this a “two businesses in one” opportunity for a buyer. One such contract will provide additional revenue via providing cabinets for up to 500 tract homes in 2022.
Working within a 50-mile radius, this company is well known for high-quality workmanship and excellent results. Their transparency with clients has resulted in repeat business and many referrals from past clients, Real Estate Professionals, Attorneys, Property Management Associations, Homeowner Associations, etc.
The company has built a loyal customer base by focusing on detail and constantly communicating with their customers and suppliers. This is an ideal opportunity for a strategic buyer or investor who desires to expand into the high-end market.
Revenue:
$4,495,683
Cash Flow:
$683,079
