Listing ID: 76019
Big Opportunity in Auto Repair! Well established, Profitable, Full service Auto repair shop with an excellent reputation and loyal following! Little competition, huge customer base and a dynamic location with top of the line equipment including NYS Inspection Machine. Great network of suppliers and vendors. Real Estate consisting of 6984 SF Repair shop on .8 acres listed at $525,000 listed separately, to be purchased concurrently with business. Apartment included. Due to Covid, 2019 and 2018 are presented. 2020 financials available upon request. For additional information please contact listing agent Thomas Vondell at 845-389-2599 or firstname.lastname@example.org.
- Asking Price: $550,000
- Cash Flow: $196,460
- Gross Revenue: $578,184
- EBITDA: N/A
- FF&E: $80,000
- Inventory: $69,186
- Inventory Included: Yes
- Established: 1947
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:5
- Furniture, Fixtures and Equipment:N/A
This is a leased location of 6,984 square feet. Seller is active in the business with 3 FT employees and 2 PT employees. Hours of operation are 8 AM to 5 PM, Monday - Friday. $69,186 in Inventory and $80,000 in FF&E included in Asking Price.
The business was started in 1947, making the business 75 years old.
The transaction does include inventory valued at $69,186, which is included in the listing price.
Why is the Current Owner Selling The Business?
There are all sorts of reasons why people decide to sell companies. However, the real factor vs the one they tell you might be 2 absolutely different things. For instance, they may say "I have a lot of various responsibilities" or "I am retiring". For numerous sellers, these reasons are valid. However, for some, these may simply be justifications to attempt to conceal the reality of changing demographics, increased competition, current reduction in incomes, or a variety of other reasons. This is why it is really essential that you not rely entirely on a vendor's word, however rather, use the seller's answer along with your total due diligence. This will repaint a much more realistic image of the business's present situation.
Existing Debts and Future Obligations
If the existing business is in debt, which lots of companies are, then you will have reason to consider this when valuating/preparing your deal. Numerous businesses borrow money so as to cover things like stock, payroll, accounts payable, and so on. Keep in mind that occasionally this can indicate that profit margins are too small. Lots of companies fall into a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may also be future commitments to think about. There might be an outstanding lease on equipment or the building where the business resides. The business may have existing contracts with suppliers that need to be fulfilled or may lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area bring in new customers? Often times, companies have repeat consumers, which develop the core of their daily earnings. Particular elements such as brand-new competitors sprouting up around the location, road building, as well as personnel turn over can impact repeat clients and also adversely impact future incomes. One essential 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? Obviously, the more individuals that see the business regularly, the higher the opportunity to develop a returning client base. A last idea is the basic area demographics. Is the business placed in a densely inhabited city, or is it located on the outside border of town? How might the neighborhood typical home income impact future revenue potential?