New Deals: A pet boarding facility with general manager, dryer vent cleaning business with repeat apartment clients, and 3 other finds...

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NEW DEALS

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📍 Location: Colorado
💰 Asking Price: $3,250,000
💼 EBITDA: $540,000
📊 Revenue: $970,000
📅 Established: 2001

💭 My 2 Cents: A kennel that runs dogs together in group play has to temperament-test them first and leave out unfixed dogs and any that don’t get along. This company has done the opposite since 2001, exercising every dog on its own, which lets it board the dogs other kennels turn away. Those owners do not have many alternatives, and it shows: repeat customers make up 70% or more of the business. It runs two purpose-built facilities with 46 kennel runs and cat rooms on about 43 acres near Colorado’s mountain resort towns, and $1.45 million of the asking price is that real estate. The owner has stepped back, with a general manager and long-term staff running the day to day, and demand runs past capacity at holidays, spring break, summer and long weekends. That said, I’d want the average nightly rate and occupancy by month, since the $58 a night per run, cats included, could be a high rate with empty runs or a full building at a cheap one, and filling runs is easier than raising prices. How rates move on peak dates comes next, because a waiting list at the regular price usually means the price can go up. Beyond pricing, training is the growth line a buyer should study hardest, since a two-week board-and-train program commonly sells for $1,500 to $3,500 and none of today’s earnings depend on it.

📍 Location: Pennsylvania
💰 Asking Price: $3,600,000
💼 EBITDA: $1,190,707
📊 Revenue: $2,400,000
📅 Established: 1921

💭 My 2 Cents: A veterans banner program costs a town very little: a family or a sponsor pays $150 to $300 and the town hangs the banner on a light pole from Memorial Day to Veterans Day. That is the same stretch of calendar every year, and the order book shows it, with about 73% of this year’s buyers repeat customers and 57% of those reordering in the same month they did last year. The programs also fill up. One Ohio city went from 126 banners to 936 in four years and is now short of poles. This company sells those plus seasonal and custom street banners to towns, veterans’ groups, schools and shopping centers, concentrated in the Northeast. Three full-time remote employees handle sales, customer service and order processing with little oversight, and the parent, an outdoor decor company, is spinning it off. What a repeat order is worth against a first-year one is where I’d start, since a program that has filled its poles is only buying the new names after that. Then what the parent does that nobody here does, since a team this small leaves accounting, the website and payables to replace. And who at each town actually places the order, a clerk, a VFW post, a chamber, since that is the relationship a buyer keeps. Wherever that relationship sits, every order ships straight to the customer, so a buyer can run this from anywhere.

📍 Location: Nevada
💰 Asking Price: $1,800,000
💼 EBITDA: $450,000
📊 Revenue: $700,000
📅 Established: 2018

💭 My 2 Cents: When someone else's driver wrecks your car, the at-fault driver's insurer typically owes you a rental until your car is fixed or replaced, which makes an accident victim a different customer from a tourist booking a weekend. This company rents about 73 cars two ways: to tourists on Turo (where it's a top-two host in its market) and to clients of several personal injury law firms, on 30-day to 12-month agreements paid out of the claim settlements. The law firm side matters more now, since its tourist market drew 7.5% fewer visitors last year. The owner runs it absentee, with staff handling daily operations from a home-based setup, and the roughly $1 million fleet comes with it. That said, I’d want vehicle depreciation and interest on their own lines, since those are the biggest costs a rental fleet carries and EBITDA leaves both out. Then how long a law firm rental takes to get paid and how much of each bill survives, since the lawyer negotiates that bill down when the case settles, so what the company invoices and what it collects are two different numbers. The pool it sells into is growing too: injury claims are rising about 11% while the rest of auto claims fall.

📍 Location: Florida
💰 Asking Price: $1,100,000
💼 EBITDA: $515,000
📊 Revenue: N/A
📅 Established: 2014

💭 My 2 Cents: Owners of beach condos and vacation homes often hand them to a manager who runs the bookings, the guests and the cleaning, keeps a share of each stay (commonly 20% to 30% for full service), and gets paid only on the nights the home is booked. This company has run since 2014 with 43 condos and single-family homes on Florida's southwest coast, inside an exclusive territory of a national vacation rental franchise. Its nightly rates, revenue per available night and occupancy all beat the local market. The retiring owners haven't put money into growth for several years, which leaves room for a new owner to start marketing the business again right away. How long the homeowners have stayed is the first number I'd want, since that shows how much of the book renews without anyone having to sell it again. Gross bookings and the share the company keeps come next, split by where each stay was booked, because Airbnb now takes 15.5% of each booking from managers who list through booking software and Vrbo about 8%, while a direct booking pays neither. One thing a buyer won't need is a real estate license, because Florida exempts anyone renting out a home for short stays when that home holds its own state vacation rental license, so a non-broker can run this as long as every property on the roster carries one.

📍 Location: Tennessee
💰 Asking Price: $2,000,000
💼 EBITDA: $524,588
📊 Revenue: $1,274,585
📅 Established: N/A

💭 My 2 Cents: Lint in a dryer’s vent is the leading cause of clothes dryer fires, about a third of them, and in an apartment the vent runs inside the walls out of a tenant’s reach, so cleaning it usually falls to the property. This company is two businesses sold together: a pressure washing and high-rise window cleaning company, and a dryer vent cleaning company serving apartment communities. Both sides come with repeat business. Apartment communities book the vent work every year or two, the pressure washing has built a repeat base of its own, and multifamily is now 63% of revenue, with over half of next year’s expected from clients already on the books. An operations manager runs both, and the owner is out of the field entirely, down to 30 to 40 hours a week on commercial sales and key accounts. I’d want to know how many apartment communities sign an annual agreement versus calling yearly, since that shows how much repeat work is left to put under contract. How many communities the two dryer vent technicians can cover in a year matters too, because they also do the high-rise windows and that sets how far the service can grow before a third hire. Set those aside and the vent half is the higher margin one and the faster growing one, so the cheapest growth here is selling it to the customers the other half already has.