Listing ID: 81234
Great opportunity to own a high producing Midas franchise in Las Vegas trusted by customers for their auto repair services since 1956! Midas was voted Americas best customer service and ranked number #1 in auto service. Invest in a long term, front line essential business in Las Vegas considered the 4th busiest corridor!
This location has shown continuous growth with the addition of a Car Wash launching going in the direct area in 1st Quarter of 2022 which will create continuous growth within the remaining 18 years.
This Midas has 8 bays with a top performing staff which prides themselves in creating top quality service. This business also generates income from rare earth materials, Catalytic convertors.
This current business is based in a shopping center with Sonic and Taco Bell right next door. Long term lease and franchise agreements in place. Owner is absentee and works very little.
As a Midas Franchisee you have the freedom to operate independently with an experienced team providing outstanding support, resources and training to help you excel as the franchisee.
Don’t miss this incredible opportunity!
Call today for a confidential business summary! Jennifer Weinberg 702-326-1055 BHHS NV Properties license # 6812
- Asking Price: $725,000
- Cash Flow: $350,000
- Gross Revenue: $1,143,000
- EBITDA: N/A
- FF&E: $150,000
- Inventory: $8,000
- Inventory Included: Yes
- Established: 1989
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:7,000
- Lot Size:N/A
- Total Number of Employees:5
- Furniture, Fixtures and Equipment:N/A
Moving out of state
The venture was started in 1989, making the business 33 years old.
The transaction shall include inventory valued at $8,000, which is included in the requested price.
The business has 5 employees and is situated in a building with disclosed square footage of 7,000 sq ft.
The real estate is leased by the business for $8,100 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons individuals decide to sell companies. However, the true factor vs the one they say to you may be 2 completely different things. For instance, they may state "I have too many various commitments" or "I am retiring". For many sellers, these reasons stand. But also, for some, these may simply be justifications to try to hide the reality of transforming demographics, increased competition, recent reduction in profits, or an array of other reasons. This is why it is extremely important that you not rely completely on a vendor's word, but instead, utilize the seller's response together with your general due diligence. This will paint a much more practical image of the business's present situation.
Existing Debts and Future Obligations
If the existing entity is in debt, which many companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Numerous operating businesses take out loans with the purpose of covering items such as inventory, payroll, accounts payable, and so on. Keep in mind that in some cases this can suggest that earnings margins are too tight. Numerous organisations come under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future obligations to think about. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with vendors that need to be satisfied or may result in fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area draw in new customers? Most times, operating businesses have repeat customers, which form the core of their everyday revenues. Specific variables such as brand-new competition sprouting up around the location, road building, and staff turnover can impact repeat customers as well as negatively impact future earnings. One vital thing to consider is the placement of the business. Is it in an extremely trafficked shopping center, or is it hidden from the highway? Certainly, the more people that see the business on a regular basis, the better the possibility to develop a returning client base. A last thought is the basic area demographics. Is the business situated in a densely inhabited city, or is it situated on the outskirts of town? Just how might the local median home earnings impact future earnings prospects?