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Florida-based pool builder w/ $1.49M annual SDE 🏊🏼‍♂️

Under the Radar Weekly Deals

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👋 Hey fellow searchers,

Welcome to issue #31 of Under the Radar!

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Now, let’s get into it.

This week’s issue features:

  • 🔨 Residential roofing biz utilized by over 5,000 clients

  • 🏊🏼‍♂️ Florida-based pool builder w/ $1.49M annual SDE

  • 🔒 Established security fencing co w/ $2.26M annual revenue

Hot Deals 🔥

Analyses of the best deals we found across top marketplaces and brokerages.

#1. Residential roofing biz utilized by over 5,000 clients

🏷️ Asking Price: $2,200,000

📍 Location: Manassas, VA

Overview: This established residential roofing company operates from two locations in Manassas, VA, and a nearby satellite, providing roof installation, gutter repair, storm restoration, and more to over 5,000 clients across Virginia, West Virginia, and Maryland. The company has been operating since 2011, with a solid chain of command and 19 employees. With high customer satisfaction (4.8 rating) and strong referral business (70% of clients), the company is primed for expansion into commercial and government work. The current owner is willing to carry 35% of the purchase price and stay on board for 2-3 years to ensure a smooth transition.

Key Highlights

  • ~$6.78M annual revenue

  • ~$711K annual SDE

  • $884K FF&E (included)

  • $468K A/R (included)

  • 19 employees (including management)

  • Client list of 5,000+

Growth Avenues 🚀

  • The business could easily expand into commercial and government projects, which could provide significant growth in revenue and market share.

  • With strong customer referrals, increasing digital marketing efforts, online advertising, and community outreach could further boost visibility and client acquisition.

Potential Risks 🚩

  • As the business relies heavily on storm season for its peak activity, it may face revenue fluctuations during off-seasons.

  • The business is heavily dependent on its skilled team, and finding or retaining key personnel, particularly in the roofing and restoration sectors, could be challenging.

Questions❓

  • How are receivables managed, and what is the historical rate of payment collection?

  • What are the average project timelines, and how does the business manage labor scheduling during peak seasons?

  • What is the breakdown of revenue between roofing, storm restoration, and other services?

#2. Florida-based pool builder w/ $1.49M annual SDE

🏷️ Asking Price: $4,500,000

📍 Location: Pinellas County, FL

Overview: This well-established pool building company, operating across two counties in Florida, has been in business since 2004. The company manages operations with minimal owner involvement—just one day a week—thanks to a solid team of managers, designers, and field project managers. With a streamlined system using subcontractors for construction and two showrooms to capture market share, the business is well-positioned for further growth. The owner is relocating, making this an ideal opportunity for a buyer to step into a self-sustaining operation.

Key Highlights

  • ~$12.0M annual revenue

  • ~$1.49M annual SDE

  • 20 employees (including management)

  • Leased real estate (3K sqft)

Growth Avenues 🚀

  • The recent addition of a second showroom enhances visibility and captures a broader market share across two counties. Opening more showrooms could further increase revenue.

  • Expanding into the commercial pool market—hotels, resorts, or apartment complexes—could unlock new revenue streams.

Potential Risks 🚩

  • Relying on subcontractors for construction can lead to variability in project timelines and quality control, especially if subcontractor availability fluctuates.

  • The pool construction industry in Florida is competitive. Keeping ahead of local competitors in terms of service, pricing, and marketing will be critical to sustained success.

Questions❓

  • What are the terms of the subcontractor agreements, and how dependent is the business on any particular subcontractor?

  • What is the breakdown of revenue across the two locations, and how profitable is each showroom?

  • What are the roles and responsibilities of the current managers, and how will they support the transition to new ownership?

#3. Established security fencing co w/ $2.26M annual revenue

🏷️ Asking Price: $2,250,000

📍 Location: Wake County, NC

Overview: This security fencing company has been in operation for nearly 40 years and is known for its strong reputation. Operating with no W-2 employees, the owner enjoys a four-day workweek while maintaining a significant backlog of signed contracts (~$500K). A unique manufacturer relationship provides favorable pricing for materials, further boosting margins. The business is primed for growth, with the current owner preparing for retirement and willing to provide training for up to 90 days.

Key Highlights

  • ~$2.26M annual revenue

  • ~$800K annual SDE

  • $10K FF&E (included)

  • $50K inventory (not included)

  • ~$500K backlog

Growth Avenues 🚀

  • Recent updates to the website and SEO have already boosted lead generation, and continuing this marketing momentum can drive more demand.

  • While the business currently operates without W-2 employees, bringing in a dedicated staff or subcontractors could increase capacity and drive faster growth.

Potential Risks 🚩

  • The company's unique manufacturer relationship is key to maintaining favorable pricing. Any disruption to this arrangement could impact profitability.

  • While the current owner maintains a minimal schedule, transitioning responsibilities to a new owner could affect operations temporarily.

Questions❓

  • How is the business’s relationship with the manufacturer structured, and are these terms transferable to new ownership?

  • How scalable is the current operation model, and what would it take to expand staff or increase subcontractor involvement?

  • How does the business manage customer relationships and project scheduling without in-house W-2 staff, and what is the reliance on subcontractors?

Other Hot Deals 🔥

Radar Picks 📡

Bit-sized reads featuring insights and fresh perspectives

Tweet of the Week 🐦

This week’s featured tweet from Michael Girdley breaks down key takeaways from Buy Then Build, the go-to manual for entrepreneurship through acquisition (ETA). From optimizing existing systems to embracing focus, his thread is full of actionable advice. If you haven't checked out the thread or the book, now’s your chance!👇

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DISCLAIMER: This newsletter is for informational purposes only and should not be considered financial advice. It offers analyses of businesses without endorsing any specific financial actions. Readers are advised to do their own research and consult a professional before making investment decisions.