***Special Note: In a victory for small business buyers, the recent $900BB stimulus bill directs the SBA to pay the first 6 months of new SBA 7(a) loans approved between February 1 and September 30, 2021 (up to $9,000/month). Our advice: Don’t wait. Find a quality business and get moving quickly. Banks will be busy this year and buyers that wait until July/August will likely lose out.
*Covid-19 Update*: As of June 2020, the Company’s billings are “back to normal.” Several clients had paused service during the shutdowns but have since come back. The Company is well positioned to finish 2020 strongly with higher revenue and cash flow than 2019.
This profitable and fast-growing business is a protection and security services company that provides security guards for hire to protect businesses, schools, institutions, and events.
The Company has developed a strong reputation for customer service, integrity, and competitive prices. Along with a strong reputation, the Company has developed a growing customer base and pipeline with a significant presence in West Michigan and is expanding across the state. The Company has expanded its customer base through customer referrals and word-of-mouth with minimal marketing and advertising dollars spent each year.
The owner works an average of 10 to 15 hours per week overseeing supervisors and entry-level employees, administrative tasks, invoicing, payroll, and representing the Company at networking and social events.
The owner would like to sell the Business to spend more time with his family and pursue other endeavors. Ownership is willing to stay with the Company for a reasonable transition period post-transaction to assist the purchaser’s needs.
Real Estate/Facilities: The Company leases a small office space.
Number of Employees: 40 employees
Year Established: 2015
Support/Training: Ownership is willing to provide reasonable and customary transition assistance.
Reasons for Selling: The owner wants to pursue other endeavors.
- Impressive Financial Growth: The Company has grown tremendously over the past few years. Its rate of growth has been extraordinarily strong and allowed it to capture notable market share.
- Emotionally Invested and Capable Leadership: The Company’s supervisors have vast experience and are emotionally invested in the Company. Additionally, the director of operations holds multiple industry training certifications, exhibits strong leadership skills, and helps mentor and guide the Company’s entry-level employees.
- Detailed Training Program: The Company’s training program prepares entry-level employees to be comfortable with potential site layouts, scenarios, and problems. The Company has implemented an extensive and detailed training program so its entry-level employees and supervisors can provide excellent protection and security services while prioritizing the customers’ needs and wants.
- Growing Staff to Fulfill Additional Contracts: To help fuel growth, the Company could hire administrative staff, obtain additional entry-level employees and supervisors to fulfill contracts that the current owner turns down, and hire a human resources person to focus on interviews and training. Additionally, the Company could hire on a position that could focus on internal sales and bidding on projects. These staff additions and changes could allow the Company to fulfill additional contracts, resulting in continued top-line growth.
- Trend Toward Private Security: Rising tensions with police officers across the country will likely lead to a shift toward using private security companies.
- Differentiate into Parallel Protection Services: The Company currently offers protection and security services. There are many other parallel protection services that the Company could offer to help differentiate itself in the marketplace, including camera and alarm installation, background checks, fingerprinting, fire watch, and dispatch service.
- Temporary Business: Currently, the Company does not advertise or accept any temporary work simply because it is viewed as marginal and risky business. However, if the Company could obtain the staff necessary to fulfill temporary work, it could accelerate the Company’s overall financial growth and performance, as well as produce additional referral sources.
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