Company is a 9-year-old well-established, niche B2B business delivering same day and overnight small packages to eye care providers, dentists and orthodontists in the Texas regions of Dallas-Fort Worth, Austin, Houston and San Antonio areas. Business is steady year round and recession-resistant. The customer base depends on the business for their daily shipments to/from essentially the same, repeat destinations. The company is Dallas-based with a self-storage warehouse office in Houston and delivery agents in Austin and San Antonio.
Customers are optical and dental laboratories, manufacturers and suppliers. The company collects small packages from the laboratories and delivers them to eyecare providers (doctor?s offices) and dental care providers in the Dallas-Fort Worth, Houston, Austin and San Antonio greater metropolitan areas. The largest customers are typically under contract for 2-3 year terms depending on the lab. All customers typically pay within net 30 days terms.
The seller states that the business has excellent matching books & records and that they can prove all sales, expenses and income.
Customers are typically invoiced by number of stops (versus delivery tickets). The seller estimates the following typical numbers of pickup points in their 4 primary regions: a. DFW ? DFW, Denton, Desoto, McKinney, Rockwall = 100?s of pickup points, b. Houston (includes Galveston, Richmond) = 100?s of pickup points, c. Austin, d. San Antonio
The business operates with approximately 25 full-time and 2 part-time contract owner/operator drivers. The owner works directly in the business and is ?hands-on? in every aspect of the business including invoicing, payables, sales and some operations.
The top 10 customers are typically 83-85% of annual sales. Customers are happy with the service and committed to using the company primarily due to 1) quality of service, 2) rate structure, 3) responsiveness and flexibility, 4) small and local business ownership. The owner feels that he can be replaced by a hard-working owner who is dedicated to the company. The current delivery route system is well-established and can readily add additional business at minimal additional expense. A new, energetic owner can further increase sales & profits in many ways: 1) leveraging the current delivery route system and add complementary customers, 2) marketing to existing dental/optical labs, manufacturers and suppliers, 3) adding drivers.
Purchase Price: The asking price for the assets of the business is $1,330,000 with $260,000 CASH down payment and balance financed as an SBA7(a) loan. If required by a commercial lender, the seller will consider financing up to 10% of the price to a purchaser qualified/approved by the seller. All financing is to be personally guaranteed. Seller prefers to sell for ALL-CASH. The assets include Accounts Receivables valued at $75,000 and FFEV (Furniture, Fixtures, Equipment and Vehicles) valued at $42,000. The price will be adjusted for actual accounts receivables as of the sale date.
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Facilities: The business occupies approximately 1,923+/- SF office space in an upscale industrial/office location in DFW. The current 36-month lease term expires approximately July 30, 2022 and leased for $2,962.50/mo including electricity/water (plus internet/phones of approximately $400/mo) and has been converted to month-to-month pending the business sale. Seller believes that landlord is willing to offer a long-term lease with a small rate increase and renewals to a qualified purchaser. Additionally, a self-storage warehouse/office in Houston is leased month to month.
Competition: The business attracts customers from the major metro areas in Texas. The owner feels that the industry is very competitive with UPS, FedEx and LSO/Lone Star Overnight being the largest competitors. However, most companies do not specialize in the dental and optical industries and cannot provide the service/price point provided by this business. Despite the presence of competitors, the business has continued to thrive and can further grow with marketing and adding drivers.
Growth & Expansion: The seller?s primary marketing strategy is by referral or sales efforts by the owner, to laboratories, manufacturers or suppliers in the optical/dental industries who need a reliable locally based courier/delivery service. The business obtains leads by referral from existing customers and the internet. The customer base depends on the business for their daily shipments to/from essentially the same, repeat destinations.
The current delivery route system is well-established and can readily add additional business at minimal additional expense. A new, energetic owner can further increase sales & profits in many ways: 1) leveraging the current delivery route system and add complementary customers, 2) marketing to existing dental/optical labs, manufacturers and suppliers, 3) adding drivers.
Financing: Price $1,300,000. Seller will consider financing up to 10% of the purchase price to a Purchaser qualified/approved by the Seller.
Support & Training: Seller will train buyer for 6 weeks included with the purchase price. Seller is willing to provide additional training or support at mutually agreed compensation for up to 3 months.
Reason for Selling: Retirement
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