Electrical Services niche biz in SoCal - Need GM help

searcher profile

September 04, 2024

by a searcher from University of Delaware in Los Angeles, CA, USA

I have a niche electrical services biz under LOI in Southern CA. High margin (60% ebitda), great growth opps. I don't have experience in trades, so I need to bring on that expertise. Currently run as a one-man operation, he does sales, proposals, and project management, subcontracting out all the labor. Minimal marketing spend with most sales coming inbound from referrals and google listing. Seller agreed to hold 10% equity keeping his license in the biz for minimum of 2 years unless I buy him out before then. I need a GM that understands the trades (preferably holds a general contractor or C10 electrical license) to take over the sales, proposals and project management. I will focus on marketing, building out systems and SOP's, and expanding services and territories for a much higher exit in 3 years. I don't know how or where to find a GM and would love some insights/pointers. I'm open to a partnership as well. SBA funding is available, but challenging until I come up with a reasonable solution.

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Reply by a lender
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
From an SBA perspective, I think most lenders are going to want to see that you have a partner that can provide the expertise you need, and it is possible they would want you to give him some ownership. If the seller is really wearing that many technical hats, it is going to be hard to convince a lender that you have the skills to run that business. I do not know who you could hire for that or where to go, but if you end up finding one and need help with the financing we would be happy to take a look. You can reach me here or directly at redacted Thank you.
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Reply by a professional
in San Francisco, CA, USA
Hey ^redacted‌ i have been working with trade businesses for over 8 years and have several electrical niche clients and happy to share anything that may help you. Please feel free to dm or email me at redacted
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