Listing ID: 80987
Be your own boss and make a nice income in the auto industry. Busy automotive repair shop in ideal location in Midtown. Fueled for decades by loyal repeat customers, the owner is retiring. Business has thrived before, during and after the pandemic, so you have a great foundation on which to build. From cars to RVs, this shop can help anyone with any vehicle concern. Location is ideal for customers to shop while they wait if they like, as there are a broad variety of restaurants (fast and sit-down) in the area. The City of Reno has grandfathered in the automotive repair business at this location, so it will be allowed to continue as long as someone wants to do an automotive business.
Locally, the Reno, Sparks, and Carson City area has a small town feel with a big city attitude. The city offers excellent shopping and dining options, robust nightlife offerings, high-performance schools, including a Tier 1 University with over 25,000 students—and is just a half hour from beautiful Lake Tahoe.
From a Business perspective, Northern Nevada is highly regarded as a pro-business, low-tax environment that appeals to a wide range of business and industry. With no personal, corporate, franchise, estate, inheritance, or inventory tax, it’s no wonder that Nevada ranks #7 Most Business-Friendly Tax Climate.
- Asking Price: $225,000
- Cash Flow: $116,958
- Gross Revenue: $292,026
- EBITDA: N/A
- FF&E: $70,000
- Inventory: $2,500
- Inventory Included: N/A
- Established: 2001
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,630
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
2,630 sf leased
Business has thrived with no advertising. Repeat customers have been the lifeblood of this shop, with new customers in 2021 who were once in strollers with their parents! The connection to the community is a very special part of the owner’s success.
New owner could increase revenues by hiring more technicians. Keeping the shop open longer on weekdays, as well as opening on weekends, would also add to revenue stream. New owner could enhance exposure by creating a social media presence, including a website, as well as doing advertising specials.
The company was established in 2001, making the business 21 years old.
The transaction shall not include inventory valued at $2,500*, which ins't included in the requested price.
The company has 1 employees and is situated in a building with disclosed square footage of 2,630 sq ft.
The real estate is leased by the company for $5,000 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals choose to sell companies. Nevertheless, the genuine factor vs the one they tell you may be 2 entirely different things. As an example, they may state "I have way too many other commitments" or "I am retiring". For lots of sellers, these factors stand. But, for some, these might simply be justifications to try to conceal the reality of changing demographics, increased competitors, current reduction in profits, or a variety of other reasons. This is why it is very important that you not depend totally on a seller's word, however instead, utilize the seller's answer along with your overall due diligence. This will paint an extra sensible picture of the business's current situation.
Existing Debts and Future Obligations
If the existing company is in debt, which numerous businesses are, then you will certainly need to consider this when valuating/preparing your deal. Many businesses borrow money in order to cover points like stock, payroll, accounts payable, etc. Keep in mind that in some cases this can imply that revenue margins are too small. Many businesses fall into 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 obligations to consider. There may be an outstanding lease on equipment or the building where the business resides. The business might have existing agreements with vendors that have to be fulfilled or might result in charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the area attract brand-new customers? Many times, operating businesses have repeat customers, which create the core of their daily earnings. Particular elements such as new competitors sprouting up around the location, road building and construction, and staff turnover can influence repeat clients as well as adversely influence future earnings. One essential point to think about is the placement of the business. Is it in an extremely trafficked shopping center, or is it hidden from the highway? Certainly, the more individuals that see the business often, the greater the chance to construct a returning customer base. A final idea is the general area demographics. Is the business located in a largely populated city, or is it located on the outskirts of town? How might the neighborhood median home income influence future earnings prospects?