Description
SOLD ‘Q3 2020
Find WISP Wireless Internet Services Provider – Great Business Opportunity!
88.5% MRR Wireless Internet Service Provider (WISP) – Commercial & Government Clients
Reno, NV (Washoe County)
Zip Code: 89504
Seller Financing Available!
Asking Price: $4,500,000
Cash Flow: $1,100,000
Gross Revenue: $2,020,000
EBITDA: N/A
FF&E: $300,000
Inventory: N/A
Real Estate: $140,000
Established: 1998
Business Description – (WISP – Wireless Internet Services Provider)
- In this day and age, many would describe the Internet as “ubiquitous” (everywhere, all the time); or, maintain the expectation that it should be. All of the products and services related to Information Technology, including the availability and quality of bandwidth, is changing.
- Not only is there an expectation to have access to the “network” at all times, for some, it is also expected that available access points offer high-speed (fiber) and/or super-high speed (microwave) speeds to facilitate this “ubiquity”.
- With the mainstream use of the Internet only continuing to rise, Individuals, Companies, and Governmental Entities, all have an interest and/or need (in one form or another) to gain competitively priced bandwidth capabilities.
- For Governmental Agencies and Commercial clients, the ability to host traffic and data, access networks, and migrate data in the least amount of time possible has become an additional objective to consider in managing sustainability (and growth).
More Detailed Business Information:
- This Company, as a Managed Services Provider and provider of bandwidth services, has created the groundwork for a growth potential that is just staggering!
- First formed in 1998, and then incorporated and restructured in 2015, the Company is supported by a management professional with over 25 years of experience as a C-level executive and consultant, along with an IT Professional with over 25 years of experience in IT and Networking.
- This partnership has been able to converge ideas for growth, utilize key contacts, establish service partnerships and gain access to clients, whom all of which are now dependent on the Company (in some way) by their established market share.
- Upon restructuring in 2015, the beginnings of their growth initiative were to gain the majority of the residential clients within their prospective area. In executing this objective, they would be the first to remark that they are first and foremost in the business of customer satisfaction (more than half all their residential clients have been gained through word of mouth).
The keys to their growth initiatives were based on this idea and two others – all three being;
- first-rate customer service,
- top-tier service options (Fiber and Microwave capabilities, and the heightening of other managed services),
- and competitive pricing.
Business Strengths:
The business now absolutely encompasses these aspects with a strong foundation of utilized technologies, and a culture of care and professionalism modeled for success.
In 2016, as the leading service provider in their area, they entered into Phase II of this reorganization plan (financed by their footprint in residential services); significant reinvestment toward hardware, infrastructure, and service capabilities.
They can now tout bandwidth capabilities for
- Fiber Internet (up to 10 Gbps)
- and Microwave (up to 1 Gbps),
- and bandwidth services to any area of the country domestically, and internationally.
In these few short years since restructuring, they have evolved into the go-to provider for network services in their region for:
- Residential,
- Commercial,
- and a number of Governmental Clients.
Current Business Summary:
- This year, they were able to gain a cross-border client in Canada, and as stated, there are now ample opportunities available to the Company in engaging and gaining new clients.
- Once they get the client, they keep it, with a 99.2% retention rate year over year!
- In offering services as a remote provider, they are able to beat out competitors for available services, pricing, and in many cases both.
- Since their corporate filing in 2015, they have not lost a single customer within their Governmental and Commercial client base; their overall recurring revenue rate for ALL customers is 88.5%!
Technical Business Summary:
- Some technical details of the Company – the Company is a Cisco and Microsoft (Server) driven office for all matters Managed Services related.
- An aspect of their service capabilities – fully licensed backhauls and hardened switches for uninterrupted wireless high-speed internet delivery.
- The Company also offers services to many of its Commercial Clients in the procurement, development, and management of a domain and/or website, Data Management, IT Support and Helpdesk, and Cloud Computing Services.
Detailed Business Summary:
- The Owner and COO would consider a consulting role in the Company post-sale.
- NDA is required for comprehensive CIM and any other due diligence documents on file with ProNova Partners.
- Real Estate: Owned, Included in asking price
- Employees: 8
- Furniture, Fixtures, & Equipment (FF&E): Included in asking price
- Facilities: Main street location with retail area, 7 tech workstations, full monitoring equipment and access/climate controlled server room. Many remote locations for distribution of microwave signals.
- Competition: Comprehensive package on file covers this, NDA is required.
- Growth & Expansion: Comprehensive package on file covers this, NDA is required.
- Financing: If the price & deal structure is right.
- Support & Training: Two (2) weeks, ten (10) hours per week as needed. The possibility of having professional transition consulting for a seamless transition to new ownership.
- Reason for Selling: Comprehensive package on file covers this, NDA is required.
