Listing ID: 83484
This Auto Repair Shop in Boothbay Maine, is well situated in a highly trafficked coastal area and offers auto repair, towing, and maintenance to tourists and locals alike. This highly reputable business comes with all the equipment for full service auto repair, including brakes, exhaust, lube-oil-filter, engine repair and
diagnostics, steering and suspension, starting and charging, heating, cooling, tire repair and install from a local partner. Business currently leases it’s space with a one bay garage and office/waiting room. The real estate can be purchased with or without the business and has 4 garage bays, two of which are large enough to work on campers, semi-trucks and fire trucks. There is a 2K square feet residential unit on site as well. Plenty of parking in front and in back, and local activities right next door, that your customers can enjoy while waiting.
Location: 15 Hardwick RdBoothbay, ME 04537
Year Established: 1996
Reason for Selling: Retirement
Real Estate: The building the business is located in, is also for sale.
- Asking Price: $58,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: $25,000
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
Why is the Current Owner Selling The Business?
There are all types of reasons individuals decide to sell operating businesses. Nonetheless, the genuine factor vs the one they tell you may be 2 absolutely different things. For instance, they might claim "I have way too many various responsibilities" or "I am retiring". For many sellers, these reasons stand. But also, for some, these may just be justifications to try to conceal the reality of transforming demographics, increased competitors, current reduction in profits, or a range of other reasons. This is why it is very important that you not rely totally on a vendor's word, but instead, utilize the vendor's answer together with your overall due diligence. This will paint a much more realistic picture of the business's existing situation.
Existing Debts and Future Obligations
If the current entity is in debt, which lots of businesses are, then you will certainly need to consider this when valuating/preparing your deal. Many businesses finance loans with the purpose of covering items such as inventory, payroll, accounts payable, etc. Remember that sometimes this can mean that profit margins are too tight. Many organisations fall under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may additionally be future obligations to think about. There may be an outstanding lease on tools or the building where the business resides. The business may have existing agreements with suppliers that must be fulfilled or may cause charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the area draw in new clients? Often times, companies have repeat consumers, which create the core of their daily revenues. Particular elements such as new competition growing up around the area, road building and construction, as well as staff turn over can affect repeat clients and adversely impact future incomes. One crucial point to take into consideration is the area of the business. Is it in a highly trafficked shopping mall, or is it concealed from the highway? Certainly, the more people that see the business often, the greater the opportunity to develop a returning customer base. A last thought is the basic area demographics. Is the business situated in a largely inhabited city, or is it situated on the outskirts of town? Just how might the local mean household earnings influence future revenue potential?