The business primarily focuses on physical asset auditing and building condition assessments, offering solutions to various clients such as consultants, facilities management providers, software solution providers, and directly to firms. The company has experienced substantial growth, with revenue rising from ~$1 million in FY22 to ~$2 million in FY24 and EBITDA growing from $250k to $700k (175% increase). In FY24, 64% of their contract value came from existing partnerships, while the remaining 34% was obtained through direct relationships. This indicates that the business has a robust network and reputation within the industry, which is likely to contribute to stable cash flows in the future.
Looking forward, the business has an exciting pipeline, with numerous projects currently in the tender process. With the potential for significant scaling, the business has remained deliberately small, as the founder values a close-knit and manageable team. Some key benefits include the facts that the business has experienced substantial growth in recent years, a majority of revenue comes from existing partnerships, and existing staff are able to remain in the business.
