Listing ID: 72799
This limousine bus company provides a variety of entertainment and transportation options. It’s fleet of luxury buses and coaches provide a singularly unique experience for its customers, making it a very popular company to use over and over again for special events. This company provides luxury transportation and entertainment for events such as weddings, wine tours, pub crawls, nights on the town, ski trips, golf trips, graduations, birthday parties, bachelor/bachelorette parties, sporting events, group events, and corporate events. The company’s team of drivers allow the owners to operate the business semi-absentee, allowing them to focus on business admin. The businesses price structure of charging hourly allows it to customize packages to clients’ needs while also maintaining a steady profit margin. The company’s fleet composition provides a variety of 5 luxury bus options in different size and theme to match its customers specific needs, making it an ideal business to own and operate.
- Asking Price: $370,000
- Cash Flow: $78,809
- Gross Revenue: $425,746
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2015
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:3
- Furniture, Fixtures and Equipment:N/A
In operation since 2015, the owners bought the business in 2018 as a side business to their already existing unrelated business. This business continued to grow until the pandemic shut down most operations in March 2020 until early 2021. Since the re-opening of the economy bookings and revenue have increased significantly and are nearly back to normal.
focus on other business
There are currently just 4 other party bus specific companies operating in the whole Portland Metro Area that can compete with the variety of buses this business offers. Siting expert industry sources, growing demand from corporate travelers, tourists and private households is expected to stimulate expansion of the Taxi and Limousine Services industry over the next five years. Industry revenue growth is expected to be 4% annually in that same time period. Given the continued growth in population and popularity of the Portland Metro market, it can be reasonably assumed that revenue and demand for this company’s services will increase as well as the industry grows.
The business was founded in 2015, making the business 7 years old.
The company has 3 employees and resides in a building with disclosed square footage of N/A sq ft.
The real estate is leased by the company for $639.58 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons individuals choose to sell operating businesses. Nevertheless, the genuine factor vs the one they say to you might be 2 totally different things. For instance, they might state "I have way too many various responsibilities" or "I am retiring". For numerous sellers, these reasons are valid. But, for some, these may just be reasons to try to hide the reality of changing demographics, increased competition, current decrease in profits, or a variety of other factors. This is why it is really crucial that you not rely completely on a vendor's word, yet instead, use the seller's response combined with your overall due diligence. This will paint a more sensible picture of the business's existing circumstance.
Existing Debts and Future Obligations
If the existing entity is in debt, which many businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Many businesses take out loans in order to cover items like stock, payroll, accounts payable, so on and so forth. Bear in mind that occasionally this can indicate that profit margins are too thin. Numerous organisations fall into a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may likewise be future obligations to think about. There may be an outstanding lease on equipment or the building where the business resides. The business might have existing agreements with suppliers that have to be fulfilled or might cause charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the area bring in brand-new clients? Most times, companies have repeat customers, which create the core of their day-to-day earnings. Certain variables such as brand-new competition sprouting up around the location, roadway building, as well as personnel turnover can impact repeat clients and adversely affect future incomes. One important point to think about is the placement of the business. Is it in a very trafficked shopping center, or is it hidden from the main road? Clearly, the more individuals that see the business regularly, the better the opportunity to build a returning client base. A last thought is the basic location demographics. Is the business located in a densely inhabited city, or is it located on the edge of town? Exactly how might the neighborhood typical home income effect future income prospects?