Listing ID: 79085
This is a fantastic opportunity to purchase an auto repair shop that specializes in the electric components of the vehicle for the last 90 plus years. Located at one of the busiest intersections, this shop does very little advertising. Being a specialty auto repair shop there is no competition, in fact, they get referral work from local dealerships. This 1766 sq. foot 2 bay garage has 2 lifts and all the equipment needed. Over 7K in inventory included in the purchase price. Selling the business for 187K, but seller is motivated as they have retirement plans. The building is also for sale to the right buyer for an additional 300K. If you are ready to go on your own, this is your chance to own a proven, successful auto repair specialty shop in a prime location. Seller will consider all offers, including a lease to own option on the real estate. Call today as this opportunity will not last! For additional information please contact listing agent Daniel Cisz at 860-329-6917 or firstname.lastname@example.org
- Asking Price: $187,000
- Cash Flow: $70,665
- Gross Revenue: $419,078
- EBITDA: N/A
- FF&E: $50,000
- Inventory: $7,000
- Inventory Included: Yes
- Established: 1931
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:1,766
- Lot Size:N/A
- Total Number of Employees:4
- Furniture, Fixtures and Equipment:N/A
This is an owned location of 1,766 square feet. Seller is active in the business with 4 FT employees. Hours of operation are 8 AM to 5 PM, 5 Days a week. $7,000 in Inventory and $50,000 in FF&E included in Asking Price.
Seller says they are a specialty auto repair shop so there is no direct competition in that market.
Seller says a buyer could add general repairs for added revenue.
The business was established in 1931, making the business 91 years old.
The sale shall include inventory valued at $7,000, which is included in the suggested price.
The company has 4 employees and is situated in a building with approx. square footage of 1,766 sq ft.
Why is the Current Owner Selling The Business?
There are all sorts of reasons why individuals choose to sell operating businesses. Nonetheless, the genuine reason vs the one they tell you may be 2 completely different things. For instance, they might state "I have way too many various obligations" or "I am retiring". For numerous sellers, these reasons stand. But, for some, these may simply be justifications to attempt to hide the reality of changing demographics, increased competitors, recent reduction in earnings, or a variety of various other reasons. This is why it is really vital that you not rely absolutely on a seller's word, yet rather, make use of the seller's response along with your general due diligence. This will repaint a much more practical picture of the business's current scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which numerous companies are, then you will certainly have reason to consider this when valuating/preparing your deal. Lots of companies take out loans in order to cover items like inventory, payroll, accounts payable, so on and so forth. Keep in mind that occasionally this can suggest that revenue margins are too small. Lots of companies fall into a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may additionally be future obligations to consider. There may be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with vendors that need to be fulfilled or may result in penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area bring in new consumers? Most times, businesses have repeat consumers, which form the core of their daily revenues. Specific elements such as brand-new competitors sprouting up around the area, road building and construction, as well as staff turnover can influence repeat consumers and adversely influence future incomes. One crucial thing to think about is the area of the business. Is it in a highly trafficked shopping center, or is it concealed from the highway? Clearly, the more people that see the business regularly, the higher the chance 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 situated on the edge of town? Just how might the local typical home income impact future earnings potential?