Listing ID: 79140
Established for almost 30 years, this privately owned school bus transportation company services Palm Beach, Broward, and Miami Dade counties. All drivers are W2, licensed, and certified by the tri-county public school system, and the fleet of over 50 sixty-five passenger buses is maintained and inspected by the county every 28 working days. All buses are dispatched by a live operator and tracked via GPS software. This company adheres to all federal transportation employee regulations and is a drug-free workplace, under contract with the Health Care Center of Miami. This business concentrates on charter and private school routes in addition to lucrative field trips and sporting events throughout the tri-county area. There is an operations manager in place, to which the seller is only involved about 10 hours per week and is seeking retirement from the industry. Excellent books and records, recurring revenue from client contracts (assumable), great immigration Visa opportunity, Annualization are based on October 31st Profit and Loss, Seller states 40% growth opportunity in place for 2022. Parking lots are owned by principle and fair market leases are being offered (lots are not for sale). This is a highly confidential sale, to which all prospects must provide proof of funds at this price level. Some seller financing may be available to qualified prospects. Please refer to listing number 0101910956, business broker Tom Milana 561-702-6867 when inquiring about this listing.
- Asking Price: $950,000
- Cash Flow: $183,632
- Gross Revenue: $2,166,505
- EBITDA: N/A
- FF&E: $72,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 1994
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:50,000
- Lot Size:N/A
- Total Number of Employees:38
- Furniture, Fixtures and Equipment:N/A
Lease/Month: 8449 Square Footage: 50,000 Building Type: parking lots Terms & Options: TBD Expiration Date: 12/31/2024
Weeks Training: 2 Cost: $0
Retirement from industry
Non Compete : Miles: 100 Years: 5
The venture was founded in 1994, making the business 28 years old.
The company has 38 employees and is located in a building with disclosed square footage of 50,000 sq ft.
The building is leased by the business for $8,449 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people decide to sell businesses. Nevertheless, the genuine reason and the one they say to you might be 2 entirely different things. For instance, they might state "I have a lot of other commitments" or "I am retiring". For numerous sellers, these reasons stand. But also, for some, these may just be excuses to try to hide the reality of transforming demographics, increased competition, current decrease in earnings, or a range of other factors. This is why it is really vital that you not depend completely on a vendor's word, but rather, use the seller's response combined with your total due diligence. This will repaint a much more sensible picture of the business's current scenario.
Existing Debts and Future Obligations
If the current company is in debt, which lots of businesses are, then you will certainly have reason to consider this when valuating/preparing your offer. Lots of businesses take out loans in order to cover points such as inventory, payroll, accounts payable, so on and so forth. Keep in mind that in some cases this can indicate that earnings margins are too tight. Lots of organisations fall under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may likewise be future commitments to consider. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing agreements with suppliers that must be met or may lead to fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the location attract new clients? Most times, companies have repeat consumers, which develop the core of their daily earnings. Certain aspects such as brand-new competitors growing up around the location, roadway building and construction, and also employee turn over can influence repeat consumers as well as adversely affect future revenues. One essential thing to think about is the area of the business. Is it in a highly trafficked shopping center, or is it hidden from the main road? Certainly, the more people that see the business often, the greater the opportunity to build a returning client base. A last thought is the general location demographics. Is the business placed in a densely populated city, or is it located on the outside border of town? How might the local median family earnings impact future revenue prospects?