Listing ID: 81442
Business Overview
This auto body and paint business is top-ranked in the area. Located in Fort Wayne Indiana, the shop prides itself on its buzz-worthy reputation for high-quality work, professional integrity, and unparalleled customer service. The business uses quality replacement parts (OEM, used, and aftermarket), paint materials, and top-notch labor to return customer vehicles to at least pre-accident condition. In addition to consistent collision work including major insurance DRPs, the shop is diversified in its offerings.
The current owner plans to head into an retirement and is willing to use their 50 plus of years experience in the auto body business to assist during the transition period. The shop is ready for a new owner to continue the history of excellence and expand its customer base.
Financial
- Asking Price: $275,000
- Cash Flow: $168,724
- Gross Revenue: $932,469
- EBITDA: N/A
- FF&E: N/A
- Inventory: $40,000
- Inventory Included: N/A
- Established: N/A
Detailed Information
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:9,000
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Owner will provide training and support for a smooth transition.
Retirement
The current owner believes that providing high-quality personal service creates a level of trust and comfort in their customers. It’s this commitment to excellence that garnered an expansive repeat customer base of fleet, classic, and specialty vehicles
The new owner is set up with ample room for growth and expansion. The business already has a reputation for high-quality work, kind customer service, and top-notch facilities. The spacious facility is able to handle the collisions from winter’s inclement weather, fall’s deer-hits, and summer’s distracted drivers. A little digital marketing will go a long way with this business. The new owner could grow the business by harnessing all that social media has to offer, updating the existing website, and utilizing SEO best practices.
Additional Info
The sale shall not include inventory valued at $40,000*, which ins't included in the suggested price.
Why is the Current Owner Selling The Business?
There are all types of reasons people decide to sell operating businesses. Nonetheless, the real factor vs the one they say to you may be 2 entirely different things. As an example, they may say "I have a lot of other commitments" or "I am retiring". For many sellers, these reasons stand. But also, for some, these might just be reasons to try to conceal the reality of changing demographics, increased competition, recent decrease in profits, or a range of other reasons. This is why it is extremely important that you not count totally on a seller's word, but rather, make use of the vendor's solution in conjunction with your total due diligence. This will repaint a more reasonable image of the business's existing circumstance.
Existing Debts and Future Obligations
If the current entity is in debt, which lots of businesses are, then you will have reason to consider this when valuating/preparing your deal. Many companies finance loans so as to cover points such as inventory, payroll, accounts payable, and so on. Bear in mind that sometimes this can imply that profit margins are too thin. Many companies come under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may likewise be future commitments to take into consideration. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing agreements with suppliers that have to be satisfied or may result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the area bring in new consumers? Many times, operating businesses have repeat consumers, which develop the core of their daily revenues. Specific aspects such as brand-new competitors sprouting up around the location, roadway building, as well as personnel turn over can impact repeat consumers as well as negatively influence future incomes. One important thing to consider is the location of the business. Is it in a very trafficked shopping center, or is it hidden from the highway? Obviously, the more individuals that see the business often, the better the opportunity to develop a returning customer base. A final idea is the general location demographics. Is the business placed in a densely inhabited city, or is it located on the edge of town? Exactly how might the regional average house income influence future revenue potential?
