Under LOI in FL: Metal / Glass Manufacturer - SEEKING Advice / DD

Member resources:

Frequent asked questions:

What is Searchfunder.com?

Searchfunder.com is an online community of searchers, investors, lenders, brokers and other professionals. Over 80% of those involved in searchfunds maintain a Searchfunder account to help them network, hire, and mentor others.

What are the benefits of membership?

In addition to accessing the most active online network of business buyers, Searchfunder licenses research that is simply not cost effective for individuals. Access over 15,000 industry reports and 50,000 transaction financials. You also get monthly credits for contact information for your company sourcing campaign with the option to purchase more at drastically discounted rates. Searchfunder has pre-purchased access from these data providers in order to empower individual buyers and to help searchers level the playing field versus private equity.

Do you have deals?

While we are primarily a buy-side network, we do have hundreds of brokers that regularly post deals to the community.

Can I find an internship on Searchfunder?

Absolutely! We have the industry's largest intern job board. If you are considering a search, the first step is to help another business buyer so you can hit the ground running.

What does it cost?

Searchfunder is a subscription service. We offer flexible monthly, annual and lifetime memberships.

Monthly

$79 / month

Annual

$19 / month

Lifetime

$432 / once

Those who maintain an account with us for over 4 continuous years are permanently added to the community without the need for a membership.

Do I need an MBA to join?

While a large number of our members come from dedicated programs at Harvard Business School, Stanford GSB, Chicago Booth, and other top programs, searching is no longer reserved for the elite. With the current abundance of dry powder in private equity, and an increasing number of business owners reaching retirement age, good deals rarely go unfunded.

Post a question, deal, job, etc...

Make a post...

Complete registration to post.

by a searcher from University of California, Santa Barbara
in Miami, FL, USA

10mos ago

Under LOI in FL: Metal / Glass Manufacturer - SEEKING Advice / DD

I'd like to learn more about the risk & growth opportunities in the space. Specifically, managing working capital and the bidding processes with GCs on primarily new construction.

2 Likes

306 Views

reply by a searcher 10mos ago
from Lehigh Univervsity in Boston, MA, USA

I acquired a flooring company on May 1. My advice is to bring a war chest of working capital. Find out what "normal" working capital is and then bring 2x-3x. You may not be in a normal scenario for 3-6 months when AR is finally turning into cash. If you win a bid, you most likely are one of many subcontractors in a large project. GCs collect bills once a month, and will pay your invoice in 45 days, best case. Industry standard is to also hold retainage (5%-10%) of your contract in reserve until the total project is complete. You will have outlaid money for materials, labor, plus spread on general expenses...that you won't recoup for months. This can keep competition low as many businesses cannot handle the waiting period. Be prepared and you can take advantage. If you're not, then you could be at best impeding future sales and at worst insolvent very quickly.

reply by a searcher 10mos ago
from University of Central Florida in North Palm Beach, FL, USA

Hi Jeremy, i am a GC. Happy to answer any questions you have. You are smart to be thinking of your working capital. Payment can be slow in the new build space. Billing for your materials, general conditions, time spent on shop drawings, stored materials with a proper bill of sale and insurance will keep you cash positive. Lots of work goes into your product before it hits the jobsite and physically gets installed, and you should not sell yourself short on your billings related to those efforts. Hope this helps