Electrical Services Provider

Summit County, Park City, UT

  • 1 Square Feet
  • Office
  • For Sale

Summary Description

Summit County This premier electrical services provider was founded in 1993 and is recognized as a boutique electrical contractor that services high-end customers and high-end homes in the thriving resort community of Park City and other cities in Utah’s Summit and Wasatch Counties. The Company’s primary focus is on the analysis, installation and preventative maintenance of electrical systems related to the management of snow and ice on residential and other structures. They are the only service provider in their market that offers yearly analysis and preventative maintenance programs to customers. The installation and service of the systems require that providers be licensed electrical contractors. This serves as a barrier-to-entry and has kept true competitors to a minimum. The Company provides other kinds of electrical services as well, but does not do new construction. It distinguishes itself from other providers based on the quality and speed of its services. The Company has hundreds of customers, with 85%+ being repeat customers who simply email work requests. Most of the Company’s customers are the owners of high-end homes, but their largest customers are property management firms and home owners’ associations who represent many individual home owners. They have a sizeable group of large houses and condominiums for which they do system evaluations. The Company charges for the evaluation, and it generates a large amount of repair/replacement work. As buildings need to be reroofed, new systems also need to be installed. Most service calls require customers to pay COD, with only larger, stable customers being allowed to take up to 30 days to pay for completed work. Large jobs require 50% deposit before work has begun. Due to these things, the Company enjoys regular cash flows and almost non-existent bad debt. The owner has gone to a great deal of work in standardizing and systemizing the Company’s processes. Their techs can provide bids on site using a system that is tied to Quickbooks, the Company’s accounting software. All the Company’s systems and processes are documented in their Operations Book, making it easy for employees (and a new owner) to understand and manage the daily business. The current owner does not serve as one of the service techs, but he is the Company’s qualifier for the required General Electric and Building Contractor’s licenses. He is willing to continue to hold this license for any necessary post-closing period while an unlicensed acquirer can replace him as the contractor. They currently have two service techs, who must at least be DOPL Apprentices. One of the techs serves as the Foreman and oversees the Company’s other service providers. The Company hires temps as needed throughout the year during seasonally high periods. The office manager function of the Company is quite automated and only requires someone working half-time.

Price: $425,000.00

Lot Size: 0.00 Square Feet

Building Size: 1 Square Feet

Area Available: 1 Square Feet

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