California’s Economy to Grow Steadily in 2024
The Golden State economy rebounded sharply last year from a near stall in 2022 and is expected to grow at a similar pace this year. Positive spillovers from the highly productive tech sector, fueled by the accelerating adoption of artificial intelligence technologies, are anticipated to offset the effects of a cooling main street economy and headwinds from high interest rates and high inflation. Economic stagnation in China, a key source country for California’s critical tourist industry, is an additional headwind.
The state’s population will recover further in 2024 after losses in 2021 and 2022 as job opportunities out of state become less plentiful and high national housing costs make moving elsewhere less appealing. Payrolls are projected to grow by 1.3% in 2024 and 2025. The Golden State’s unemployment rate is expected to run slightly higher than the national average on the back of weakness in discretionary spending, such as on tourism. A cooler labor market will limit total personal income growth to modestly above the pace of inflation.
California’s housing market is expected to rebound next year from 2023’s sharp contraction, especially as limited supply spurs residential construction. Single-family construction is expected to lead residential construction in 2024. Multi-family housing starts are expected to pull back after strong growth in the prior three years, but the impact on housing supply will be limited as they are a smaller share of the overall market. House prices are forecast to increase as demand outstrips supply, but at a more moderate pace next year as higher homebuilding ameliorates the shortfall in housing.
1. Tech First Design-Build Construction Co:
Enter the forefront of California's real estate market with this exceptional opportunity to acquire a leading Design-Build construction company based in San Francisco. This company stands as a premier provider of comprehensive construction solutions, boasting a robust revenue stream and an impressive portfolio of secured contracts. With a solid foundation and experienced management team, this company is poised for substantial growth in the highly competitive construction industry.
- Location: San Francisco, California
- Asking Price: $22,500,000
- Sales Revenue: $13,000,000
- Cash Flow: $5,000,000
- EBITDA: $3,350,000
- FF&E: $1,100,000 (included in asking price)
- Inventory: Not Disclosed (included in asking price)
- Real Estate: Not Disclosed
Business Highlights:
- Establishment: Founded in 2014, this company has swiftly risen to prominence as a leader in the Design-Build construction sector in California.
- Services: Specializes in combining architecture, design, and construction services, providing custom installations that meet high standards of efficiency and quality.
- Clientele: Known for its prestigious clientele and secured contracts totaling over $7 million for the upcoming year, reflecting a strong net margin of 30%.
- Management Approach: Emphasizes employee empowerment and ownership, fostering a culture of excellence and operational efficiency.
- Market Position: Positioned to capitalize on the growing demand for customized, technologically integrated residential construction solutions.
Business Operation:
- Expansion Potential: Projected to continue its strong growth trajectory with ample room to expand operations and market share.
- Unique Business Model: Offers a blend of architectural, design, and construction expertise under one roof, distinguishing itself in a competitive marketplace.
Reasons for Selling:
- Owner's Vision: The owner seeks an experienced buyer to propel the business to the next level, focusing on scaling commercial operations and leveraging the company's established market position.
Employees: Currently, the company employs 23 skilled professionals dedicated to delivering high-quality construction projects.
Support & Training:
- Comprehensive support and training provided to ensure a seamless transition for the new owner.
Relocatable:
- Flexibility for relocation, offering strategic advantages for operational optimization and market expansion.
This listing presents a rare opportunity to acquire a thriving, forward-thinking construction company with unparalleled growth potential in the dynamic San Francisco market. Serious offers based on industry comps are welcomed, offering the chance to lead the charge in shaping the future of the construction landscape. For further details and inquiries, prospective buyers are encouraged to engage with the seller promptly.
2. Global Logistics and Project Management Company:
Enter the dynamic world of international logistics with this exceptional opportunity to acquire a leading global logistics and project management company based in Los Angeles. Renowned for its comprehensive services and technological innovation, this company stands as a premier provider in the logistics industry, boasting an impressive international reach and a robust client portfolio.
Location: Los Angeles, California
Asking Price: Not Disclosed
Sales Revenue: $17,350,000
Profit: $2,916,240
Business Highlights:
- Establishment: The company has a strong foundation and is recognized as a leader in global logistics and project management services.
- Services: Specializes in freight management, warehousing, ground services, and project management with a focus on customized solutions and exceptional customer service.
- Clientele: Serves clients in over 110 countries, having completed over a thousand projects, and holds contracts with carriers representing over 80% of the world's logistics capacity.
- Technological Edge: Utilizes advanced technology for inventory management, specialized storage solutions, and seamless ground services, enhancing quality control, real-time data, and communication.
- Recurring Revenue: Award-winning customer service and proprietary software ensure a high degree of recurring revenue and a solid backlog of future projects.
Business Operation:
- Expansion Potential: The business is highly scalable with virtual operations already in place and industry-leading software for both management and customers.
- Competitive Advantage: Differentiated by its comprehensive service package, setting it apart from both large international logistic companies and regional competitors.
Reasons for Selling:
- Retirement: The owner seeks a qualified buyer to continue the company's legacy and drive further growth.
Support & Training:
- Comprehensive Transition Support: The seller is committed to facilitating a smooth transfer of the business, with specific terms for transition support negotiable. Key employees will remain post-sale.
Relocatable:
- Flexible Operations: The company operates from multiple locations, including Florida, Texas, California, and virtual offices, offering strategic advantages for operational optimization and market expansion.
This listing presents a rare opportunity to acquire a thriving, forward-thinking logistics company with a significant international presence and unparalleled growth potential. Serious offers based on industry comps are welcomed, offering the chance to lead the charge in shaping the future of global logistics and project management. For further details and inquiries, prospective buyers are encouraged to engage with the seller promptly.
3. Medical Device Company with FDA Clearance:
Enter the cutting-edge field of medical technology with this exceptional opportunity to acquire a pioneering medical device company based in Los Angeles. This company holds FDA clearance and CE Mark for its patented, single-use needle biopsy closure device, positioning it at the forefront of innovation in the medical device industry.
- Location: Los Angeles, California
- Asking Price: $25,000,000
- Sales Revenue: $11,079,000
- Cash Flow: $2,673,000
Business Highlights:
- Establishment: The company has developed a revolutionary FDA-cleared and CE-marked device designed to efficiently seal biopsy channels, enhancing safety for high-risk patients.
- Product: The patented single-use needle biopsy closure device allows for the use of larger needles to obtain substantial tissue samples in fewer passes, potentially reducing procedure costs and minimizing hemorrhage.
- Innovation: The device stands out as the only patented electro-cautery device designed to fit biopsy channels, ensuring innovation and effectiveness in medical procedures.
- Cost Efficiency: Its usage may eliminate the need for certain medications, hemostatic agents, and post-procedure observation, leading to significant cost savings.
Business Operation:
- Expansion Potential: The company presents a significant growth opportunity with the potential to commercialize its innovative device fully.
- Competitive Advantage: The device's unique features and patented technology provide a substantial competitive edge in the medical device market.
Reasons for Selling:
- Capitalization: The owner wishes to capitalize on the significant intellectual property and momentum gained by the company thus far, seeking a buyer capable of fully commercializing the product.
Support & Training:
- Comprehensive Transition Support: The seller is committed to providing the necessary support and training to ensure a seamless transition for the new owner.
Relocatable:
- Global Flexibility: The company is relocatable worldwide, offering strategic advantages for operational optimization and market expansion.
This listing presents a rare opportunity to acquire a leading medical device company with a groundbreaking product and substantial growth potential. Serious offers based on industry comps are welcomed, offering the chance to lead the charge in shaping the future of medical technology. For further details and inquiries, prospective buyers are encouraged to engage with the seller promptly.
4. Active Heavy Equipment Corporation:
Seize the opportunity to acquire a well-established heavy equipment corporation with comprehensive contractor licenses (A, B, Haz) in Alpine, California. This company offers a robust portfolio, including grading, excavations, and signed contracts for active jobs, providing a solid foundation for continued growth.
- Location: Alpine, California
- Asking Price: $4,000,000
- Sales Revenue: $2,500,000
- Cash Flow: $2,000,000
- EBITDA: $400,000
Business Highlights:
- Establishment: Founded in 2008, the company has built a strong reputation in the heavy equipment and construction industry.
- Equipment and Fleet: Includes 30 pieces of heavy equipment and 20 Peterbilt trucks, all included in the asking price.
- Licenses: Holds active A, B, and Haz licenses, allowing for a wide range of construction and hazardous material projects.
- Active Contracts: Currently has $600,000 worth of signed contracts for ongoing projects.
Business Operation:
- Facilities: Operates from a leased 5,000 sq. ft. facility with a monthly rent of $3,000.
- Expansion Potential: With a solid base and active contracts, there is significant potential for growth and expansion in the construction industry.
Reasons for Selling:
- Retirement: The owner is looking to retire and pass on this thriving business to a capable buyer.
Support & Training:
- Seller Financing: Seller financing is possible, subject to negotiation of terms.
- Transition Support: The seller is open to providing necessary support and training to ensure a smooth transition for the new owner.
This listing presents a rare opportunity to acquire a profitable and active heavy equipment corporation with a strong market presence and significant growth potential. Serious offers are encouraged, providing the chance to continue and expand this successful enterprise. For further details and inquiries, prospective buyers are invited to engage with the seller promptly.
5. Leading Auto Parts Online Retailer and Wholesaler:
Enter the dynamic world of international logistics with this exceptional opportunity to acquire a leading global logistics and project management company based in San Bernardino County. Renowned for its comprehensive services and technological innovation, this company stands as a premier provider in the logistics industry, boasting an impressive international reach and a robust client portfolio.
Location: San Bernardino County, California
Asking Price: $40,000,000
Sales Revenue: $18,294,340
Profit: $1,501,258
Business Highlights:
- Establishment: The company, founded in 2016, has a strong foundation and is recognized as a leader in global logistics and project management services.
- Services: Specializes in the online retail and wholesale of auto parts, with a focus on high-quality products and exceptional customer service. Operates as a Top 2000 Amazon Seller with three brands and branches in California and Texas.
- Clientele: Serves a broad international customer base, including over 10 million customers with impressive reviews and feedback scores across multiple platforms.
- Technological Edge: Utilizes advanced LED technology for automotive lighting products, ensuring high quality and innovative designs.
- Recurring Revenue: Strong customer loyalty and positive reviews contribute to recurring revenue, supported by competitive pricing and superior customer support.
Business Operation:
- Expansion Potential: Highly scalable with potential for product line expansion, especially in the auto and lighting sectors. The established brand and solid customer base provide a strong foundation for growth.
- Competitive Advantage: Differentiated by its innovative product offerings, competitive pricing, and exceptional customer reviews. Recognized as a Top 2000 Amazon Seller overall and a Top 10 Seller in its sub-category.
Reasons for Selling:
- Other Interests: The owner seeks to focus on other business interests, presenting an opportunity for a new owner to capitalize on the existing foundation and drive further growth.
Support & Training:
- Comprehensive Transition Support: The seller is committed to facilitating a smooth transfer of the business, with specific terms for transition support negotiable. An operation management team or training will be provided for a specified period.
Relocatable:
- Flexible Operations: The company operates from leased facilities, including a 10,000 sq. ft. warehouse, with flexible operations that can be relocated as needed.
This listing presents a rare opportunity to acquire a thriving, forward-thinking logistics company with a significant international presence and unparalleled growth potential. Serious offers based on industry comps are welcomed, offering the chance to lead the charge in shaping the future of global logistics and project management. For further details and inquiries, prospective buyers are encouraged to engage with the seller promptly.
6. Leading Hauling Equipment Sales Business:
Enter the dynamic world of international logistics with this exceptional opportunity to acquire a leading global logistics and project management company based in California. Renowned for its comprehensive services and technological innovation, this company stands as a premier provider in the logistics industry, boasting an impressive international reach and a robust client portfolio.
- Location: California
- Asking Price: $5,495,000
- Sales Revenue: $17,743,250
- Profit: $1,376,767 (Seller's Discretionary Earnings)
Business Highlights:
- Establishment: Founded in 1988, this company has a strong foundation and is recognized as a leader in hauling equipment sales.
- Services: Specializes in the sale of hauling equipment for multiple industries, along with a robust service department offering warranty work, service, and repair. Also sells a wide variety of related parts.
- Clientele: Serves a diverse range of industries with a focus on high-quality products and exceptional customer service.
- Technological Edge: Developed strong systems and written procedures for every part of the business, ensuring consistency and reliability.
- Recurring Revenue: The parts and service departments support increased exposure and customer confidence, driving consistent revenue.
Business Operation:
- Expansion Potential: Prime, high-visibility location with a dedicated and well-trained staff, offering significant growth opportunities.
- Competitive Advantage: Among the largest dealers for well-known hauling equipment manufacturers in the region, with a reputation for high-quality products and customer care.
Reasons for Selling:
- Retirement: The founders are selling the business as they prepare for retirement, presenting an opportunity for a new owner to capitalize on the existing foundation and drive further growth.
Support & Training:
- Comprehensive Transition Support: Training provided, with SBA Pre-Approved Lending for a qualified buyer, ensuring a smooth transition and continued success.
Relocatable:
- Flexible Operations: Operates from leased facilities, including offices and a shop on a 3.3-acre property, offering strategic advantages for operational optimization and market expansion.
This listing presents a rare opportunity to acquire a thriving, forward-thinking logistics company with a significant international presence and unparalleled growth potential. Serious offers based on industry comps are welcomed, offering the chance to lead the charge in shaping the future of global logistics and project management. For further details and inquiries, prospective buyers are encouraged to engage with the seller promptly.
7. High Profit Food Service Consultancy for Sale:
Enter the dynamic world of international logistics with this exceptional opportunity to acquire a leading global logistics and project management company based in Santa Monica, California. Renowned for its comprehensive services and technological innovation, this company stands as a premier provider in the logistics industry, boasting an impressive international reach and a robust client portfolio.
- Location: Santa Monica, California (Los Angeles Co.)
- Asking Price: Not Disclosed
- Sales Revenue: $8,200,000
- Profit: $1,343,000 (Seller's Discretionary Earnings)
Business Highlights:
- Establishment: Founded in 2015, this consultancy provides client-specific Food & Beverage solutions across Foodservice, Retail, and Ingredients.
- Services: Offers strategic guidance and expert support for revenue generation, marketing, research & insights, product & pricing, and management to new and established F&B companies.
- Clientele: An integrated group of omni-channel industry experts with experience in sales, marketing, and products, serving both large global companies and high-growth startups.
- Technological Edge: Combines experience, market dynamics, and marketing prowess to craft thoughtful go-to-market strategies focused on execution.
- Recurring Revenue: Proven processes and services have led to consistent growth in both revenue and profits, supported by scalable leadership and strategy expertise.
Business Operation:
- Expansion Potential: Significant opportunities for growth by taking proven processes and services into further depth in Foodservice, Retail, and Ingredients. Expanding offerings based on client and market needs.
- Competitive Advantage: No competitors in the space match the breadth and depth of omni-channel experience with a proven track record in strategy, marketing, execution, and services that this firm offers.
Reasons for Selling:
- Other Interests: The owner seeks to find the right buyer to continue the company's legacy, focusing on other business interests.
Support & Training:
- Comprehensive Transition Support: Training provided as needed, with specific terms for transition support negotiable to ensure a smooth transfer of the business.
Relocatable:
- Flexible Operations: Confidentiality is a concern for the seller, with location information provided only upon vetting a qualified buyer. The business operates with a high degree of flexibility.
This listing presents a rare opportunity to acquire a thriving, forward-thinking food service consultancy with a significant international presence and unparalleled growth potential. Serious offers based on industry comps are welcomed, offering the chance to lead the charge in shaping the future of the food service consultancy industry. For further details and inquiries, prospective buyers are encouraged to engage with the seller promptly.
Conclusion
These top-tier businesses offer unique advantages and robust market positions, providing excellent opportunities for new ownership to drive continued success. Each business boasts a proven track record, impressive financials, and a dedicated team, making them stand out in their respective industries. From logistics and auto parts to hauling equipment and food service consultancy, these businesses are known for their innovation, customer satisfaction, and potential for expansion.
Prospective buyers can find ventures that align with their interests and expertise, with opportunities for significant growth and scalability. The solid customer base, recurring revenue streams, and strategic locations enhance the attractiveness of these investments.
Serious buyers are encouraged to engage with the sellers promptly to explore these high-value opportunities further. Subscribe to our newsletter to receive personalized listings based on your preferences and stay updated on the best businesses for sale by owners.
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