I.T. Service Company For Sale

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Location: Birmingham, Alabama

Financial Information
Asking: $625,000
Gross: $639,088
Cash Flow: $185,000
Inventory: $2,000 (not included in price)
Furniture, Fixtures & Equipment:
$10,000 (included in price)

Summary Description

Asset sell would be for approximately 47 clients mostly well established law firms in the Birmingham area. There are currently 37 law firms with the rest being a school, accounting firms, and manufacturing companies.

I.T. Express Financials

3 Employees in Birmingham Office plus owner when needed
Level III Engineer $50K\year plus commission (Since 2006)
Level 1 Desktop Support $35K\year
Level 1 Remote Desktop Support $30K\year

Year to date as of 7-23-17: $402,344.43 (Note that most money made in 4th quarter because law firms dump their money on product for tax reasons before end of year.

2017 Financial Breakdown:
Break\Fix Maintenance and support monthly recurring: $28,340.00 each month

Year to date as of 5-15-17

Exchange Server Hosting and Spam Filter hosting: $2,562.53 each month with Projected Annual: $30,750.36
Revenue for labor on Out of Scope Projects for the year 2017 to date: $38,455.83
Revenue on equipment: $48,562.55
2016 Financial Breakdown from Gross of $639,087.55
Break\Fix Maintenance and support monthly recurring: $32,440.00 each month
Annual break\fix maintenance: $389,280.00 for the year
Exchange Server Hosting and Spam Filter hosting: $2,774.58 each month with Annual: $33,294.96 for the year
Revenue for labor on Out of Scope Projects for the year 2016: $86,955.43
Revenue on equipment for 2016: $78,403.31
Revenue for POS system (We were advertising google 2016): $23,343.85
Revenue on Computer Forensics projects done by owner: $27,810.00

Other Years
2013 Gross Revenue $588,673
2014 Gross Revenue $681,827
2015 Gross Revenue $623,439

General Information
Facilities: 500 Sq ft space at $1,600\month with 4 years left on lease (Lease expires 7/15/2021). Building in new condition with backup power generator and perfect for data center setup. Two Rack servers in Birmingham and two Rack Servers offsite for replication of Cloud data for law firms using Cloud Remote Desktop services. Office Furniture
Competition: Other IT companies
Growth and Expansion: Growing from referrals about one new account each month.
Support/Training: All employees well trained and very familiar with all 47 clients who are on maintenance and monthly retainer. Willing to do what’s reasonable for smooth transition.
Reason Selling: Career Change
Year Established: 2002
Employees: 6