Listing ID: 82523
Located on a super busy street, this auto repair business has been in the same location for decades. It specializes in Radiator Repair but also is a full Auto Repair and is a Wholesale Distributer of Radiators to autobody repair shops and auto dealers throughout the metro. This profitable three part business is for sale for the first time in years. The current owner purchased the shop in 2007. Prior to purchasing the business, the owner was an employee for over 25 years. The owner and his wife are ready for retirement. He will train the new owner and be available to help for as long as necessary to ensure a smooth transition.
This business was established in 1928 and has operated continusly since! Only now on the third owner. Over the years this business has kept updated on the most recent technology and is now ready for the next owner to take it to the next level.
Includes the building, storage and ample paved parking
- Asking Price: $380,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1938
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
The company was started in 1938, making the business 84 years old.
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals decide to sell companies. Nevertheless, the true reason vs the one they tell you might be 2 absolutely different things. For instance, they might state "I have too many other obligations" or "I am retiring". For numerous sellers, these reasons stand. However, for some, these might simply be excuses to attempt to hide the reality of changing demographics, increased competition, current reduction in earnings, or an array of other factors. This is why it is really important that you not count entirely on a vendor's word, yet instead, use the seller's response together with your general due diligence. This will repaint an extra sensible picture of the business's current situation.
Existing Debts and Future Obligations
If the current company is in debt, which many businesses are, then you will certainly need to consider this when valuating/preparing your offer. Lots of businesses finance loans in order to cover things such as supplies, payroll, accounts payable, and so on. Bear in mind that occasionally this can suggest that revenue margins are too tight. Lots of businesses fall into a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may likewise be future commitments to think about. There might be an outstanding lease on tools or the structure where the business resides. The business may have existing contracts with vendors that have to be satisfied or may cause fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area bring in new clients? Often times, businesses have repeat clients, which create the core of their day-to-day revenues. Particular variables such as brand-new competition growing up around the area, road building and construction, as well as employee turnover can affect repeat customers as well as negatively affect future earnings. One vital point to think about is the placement of the business. Is it in a highly trafficked shopping center, or is it concealed from the highway? Clearly, the more individuals that see the business regularly, the better the possibility to construct a returning customer base. A last idea is the basic area demographics. Is the business placed in a densely inhabited city, or is it located on the outside border of town? How might the local median house earnings influence future earnings potential?