Listing ID: 79094
This is an opportunity to own a turn key auto repair shop with a fantastic reputation since 1977. This auto repair shop boasts 4 bays and has all state of the art equipment. Less than 2 miles from the highway this garage is located right off the main st. in a prime location with tons of traffic.
The business consistently does approximately $550,000 annually, but plenty of growth opportunity. Over $60,000 in Furniture, Fixtures & Equipment of which $2,500 is inventory ALL included in the purchase price. Seller owns the property and will be offering a reduced lease compared to his current lease. Seller is also willing to sell the property to the right buyer. Seller is retiring, but will offer a full training period to ensure a smooth transition.
Whether you are looking to go off on your own, or grow your business, this four bay garage in prime location with a loyal customer base is for you! This business needs nothing so start making money on day one. Call today as this opportunity wont last. For additional information please contact listing agent Daniel Cisz at 860-329-6917 or firstname.lastname@example.org
- Asking Price: $286,000
- Cash Flow: $112,236
- Gross Revenue: $512,517
- EBITDA: N/A
- FF&E: $57,000
- Inventory: $2,500
- Inventory Included: Yes
- Established: 1977
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,503
- Lot Size:N/A
- Total Number of Employees:4
- Furniture, Fixtures and Equipment:N/A
This is a leased location of 2,503 square feet with a Total Rent of $3,629. Seller is active in the business with 2 FT employees and 2 PT employees. Hours of operation are 8 AM to 5 PM, Monday - Friday. $2,500 in Inventory and $57,000 in FF&E included in Asking Price.
The company was established in 1977, making the business 45 years old.
The deal shall include inventory valued at $2,500, which is included in the suggested price.
The company has 4 employees and resides in a building with approx. square footage of 2,503 sq ft.
The building is leased by the business for $3,629 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals choose to sell operating businesses. Nonetheless, the real reason vs the one they say to you might be 2 completely different things. For instance, they may claim "I have too many various responsibilities" or "I am retiring". For lots of sellers, these reasons are valid. But, for some, these might simply be reasons to attempt to hide the reality of transforming demographics, increased competition, recent decrease in revenues, or an array of other factors. This is why it is very important that you not count entirely on a vendor's word, yet instead, utilize the seller's answer in conjunction with your total due diligence. This will repaint an extra reasonable picture of the business's current situation.
Existing Debts and Future Obligations
If the existing business is in debt, which numerous businesses are, then you will certainly need to consider this when valuating/preparing your offer. Many businesses borrow money with the purpose of covering things such as stock, payroll, accounts payable, and so on. Remember that sometimes this can indicate that profit margins are too tight. Many companies come under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may additionally be future obligations to consider. There may be an outstanding lease on equipment or the building where the business resides. The business may have existing agreements with suppliers that must be fulfilled or might cause penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the location bring in new customers? Many times, businesses have repeat clients, which create the core of their everyday profits. Specific variables such as new competitors sprouting up around the area, roadway building and construction, and employee turnover can affect repeat customers and negatively impact future earnings. One crucial point to think about is the area of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the highway? Clearly, the more individuals that see the business on a regular basis, the better the opportunity to build a returning consumer base. A final thought is the basic area demographics. Is the business located in a densely populated city, or is it located on the edge of town? Exactly how might the neighborhood average home earnings impact future earnings potential?