Business Overview

Harold Crooks Garage, established in 1920. Full service auto repair. 4 lifts, 4 garage doors. Storage for over 30 cars. From auto repair, state inspections etc. All equipment in great working order. Staff in place for new ownership. Turn key, start making money from day one!! Located on a highly visible corner, intersection. . Steady customer base. Owner looking to retire. Building is also available for sale or , with a lease with option to buy. Owner financing available for qualified buyer for business and building.
Established for over 35 years, at the same location. Great customer service. Owner has a reputation for doing quality work, at reasonable prices.
Owner has created great customer services relationship. Word of mouth, continued repeat business continues to grow. Fast service, quality work. Location, location. !!!!!
Advertising is currently not being done. Additional staff to increase current business sales. Extend existing business hours, to stay open later at night, open on weekends.

Financial

  • Asking Price: $400,000
  • Cash Flow: $182,000
  • Gross Revenue: $368,000
  • EBITDA: N/A
  • FF&E: $200,000
  • Inventory: $10,000
  • Inventory Included: Yes
  • Established: 1986

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:N/A
  • Lot Size:N/A
  • Total Number of Employees:4
  • Furniture, Fixtures and Equipment:N/A
Is Support & Training Included:

2 weeks

Purpose For Selling:

retirement

Additional Info

The venture was established in 1986, making the business 36 years old.
The deal does include inventory valued at $10,000, which is included in the listing price.

Why is the Current Owner Selling The Business?

There are all sorts of reasons why individuals choose to sell businesses. Nonetheless, the real factor vs the one they say to you might be 2 completely different things. For instance, they may state "I have a lot of other responsibilities" or "I am retiring". For lots of sellers, these reasons stand. However, for some, these may simply be reasons to try to conceal the reality of changing demographics, increased competition, recent reduction in profits, or a variety of other factors. This is why it is extremely essential that you not rely entirely on a vendor's word, yet instead, make use of the vendor's response combined with your total due diligence. This will repaint an extra sensible image of the business's present scenario.

Existing Debts and Future Obligations

If the current business is in debt, which numerous businesses are, then you will have reason to consider this when valuating/preparing your deal. Numerous businesses take out loans in order to cover points like stock, payroll, accounts payable, so on and so forth. Remember that in some cases this can indicate that earnings margins are too tight. Numerous businesses fall into a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may also be future commitments to take into consideration. There may be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with vendors that must be satisfied or may cause fines if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do companies in the area draw in brand-new clients? Many times, businesses have repeat consumers, which develop the core of their everyday revenues. Particular variables such as new competitors growing up around the location, road building, and staff turn over can impact repeat consumers and also negatively affect future profits. One important thing to think about is the area of the business. Is it in a very trafficked shopping mall, or is it concealed from the highway? Certainly, the more people that see the business regularly, the higher the possibility to build a returning consumer base. A last thought is the general area demographics. Is the business placed in a largely inhabited city, or is it situated on the outskirts of town? How might the regional average house earnings impact future revenue prospects?