Serviced Office Space Business

woman on phone in office space

Business Details

Company Profile

Listing ID: VANCOBC002-N522

Location: Metro Vancouver, BC

NAICS: 531312

Industries: Non-Residential Property Managers

Business Highlights

  • Long established business
  • High-profile central location
  • All season business
  • Stable history of profitability
  • Recurring revenue model
  • Complete office upgrades performed recently

This is an opportunity to acquire a high-quality packaged office and virtual office provider, located in the heart of Metro Vancouver. Catering to loyal and local clientele including accountants, lawyers, counsellors, non-profit organizations, small businesses, and trades, the business provides excellent value for money on full-time packaged office rentals, hourly meeting rooms, secretarial and administrative assistance, and technological business support.

Additional revenue streams include virtual office plans, which provide mail handling and a business address for start-up and small business practices, as well as telephone answering, and inside sales and order service, along with access to preferred rates on the meeting rooms. Gross revenue streams are split 57% office rentals and 43% other services.

Any buyer would not need to be actively involved, as there is a strong team of staff already in place, headed up by an excellent general manager.

Type of Sale: Share Sale

Operational Balance Sheet Inclusive of: Furniture, Fixtures, & Equipment / Goodwill / Normal Net Working of $100,000

BUSINESS ASKING PRICE

$1,170,000

Normalized Financial Summary

YEAR REVENUES SDE EBITDA
PROJ. 2020 $939,000 $360,000 $304,000
FYE 2019 $956,000 $367,000 $312,000
FYE 2018 $943,000 $363,000 $308,000
* EBITDA - Earnings Before Interest, Taxes, Depreciation, and Amortization
** SDE - Seller’s Discretionary Earnings
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Metro Vancouver, BC