Industry Description

Electric Franchise

SIC

1731

Days Open

Year Established

1996

Hours of Operation

Years Owned

1996

Full-time Employees

1 Journeyman; 1 Apprentice

Part-time Employees

Other Notes

Franchise covers all of Imperial Valley, and potentially into AZ & S.D. County

Hours/wk by Owner

20

Owners Duties

Management

Skills / Licenses ReqÕd

Electrician License

Training Offered / Cost

Franchise offers 5 days

Non-Compete Terms

Exec. Summary

Franchise fees are 6% of gross sales, 2% for advertising

Lease / Bldg. Info.

Monthly Rent

Lease Commenced

Deposit

Lease Expires

Term & Option

Bldg./Area Description

Square Footage

Seats, Pkg, Zoning, etc.

Currently operating out of home; $0 Rent

Reason for Sale

Financial Summary

Current Yr. Annual

2003 / Owner to Prove

2002 / Owner to Prove

Gross Revenue

$200,000

$317,806

COGS

$117,971

$198,328

Rent / CAM

$0

$4,941

$4,528

Payroll

Net Profit (before tax)

Discretionary Cash

$40,500

$50,048

Expense Breakdown

Included in Sale

Assets

Liabilities

FF&E Included

$50,000

Lease Obligations

$0

Inventory Included

Debt Included

$0

Other Assets Included

Other Liabilities

$0

Working Capital (not incl)

Return on Sale Price

Asking Price

$80,000 OBO

Owner Financing/Terms

Owner will consider

Earnest Money Dep.

$5,000

Down Payment

Opportunity Summary

Headline

Mr. Electric Franchise in Imperial Valley

Summary

Mr. Electric franchise for all of the Imperial Valley, CA for sale.  At present, the company generates approximately $200k in gross revenues, with 4 employees and has room for expansion. The franchise agreement has fees of 6% of gross sales, and 2% for advertising. The sale includes all franchisee rights, including national advertising and pre-set contracts, as well as two fully outfitted vans worth approximately $50,000. License is required (C-10 or perhaps the General Contractor B). For more information on the franchise, see the Mr. Electric website at http://www.mrelectric.com/corporate/. Asking price is $80,000.

Facilities / Assets

Assets included in the sale include 2 fully outfitted vans and equipment, but not hand tools.  Of course, all benefits of franchise also transfer, such as relationship to do installs, home warranty and home improvement work for Home Depot, nationwide advertisement and referrals, etc.

Competition

There are certainly other electrical contractors in the area, but no major franchises.  The nearest Mr. Electric Franchisee is in Orange County.

Growth Potential

Other