Listing ID: 82516
Own a successful auto body business! Sale includes real estate at 820 5th St S, 319 9th Ave S and 325 9th Ave S. Approx. 10,086 SF interior space on total of 0.688 acres.
820 5th St S: 10’ wall height, built 1970—remodeled 1989, 4 drive doors, 1 restroom, paint room, central air, 0.172 acre lot & reception/office area
319-325 9th Ave S: built 1974, 5 drive doors, 0.516 acre lot with fenced yard, 14’ wall height, 2 restrooms, upper level storage area, office & utility room
Zoned C-2 General Commercial; just 1 block off of busy 10th Ave S
Financials available to qualified buyers
- Asking Price: $850,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:10,086
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Why is the Current Owner Selling The Business?
There are all types of reasons why people resolve to sell companies. Nevertheless, the true reason vs the one they say to you may be 2 completely different things. As an example, they may say "I have way too many other responsibilities" or "I am retiring". For numerous sellers, these factors stand. However, for some, these might just be excuses to try to conceal the reality of transforming demographics, increased competition, current reduction in revenues, or an array of other factors. This is why it is extremely crucial that you not count absolutely on a seller's word, however rather, utilize the seller's answer along with your general due diligence. This will repaint a more realistic image of the business's current scenario.
Existing Debts and Future Obligations
If the current company is in debt, which many companies are, then you will certainly have reason to consider this when valuating/preparing your deal. Lots of operating businesses finance loans in order to cover things like supplies, payroll, accounts payable, and so on. Keep in mind that occasionally this can suggest that profit 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 commitments to consider. There may be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with suppliers that have to be met or might result in penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the location attract brand-new customers? Most times, operating businesses have repeat customers, which create the core of their daily revenues. Particular elements such as brand-new competition sprouting up around the area, road construction, as well as staff turn over can affect repeat consumers as well as adversely impact future earnings. One essential thing to think about is the placement of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the highway? Certainly, the more people that see the business on a regular basis, the greater the chance to construct a returning client base. A last 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 typical household earnings impact future income prospects?