Asking Price: $315,000 Gross Revenue: $658,472Cash Flow: $142,854 (Seller's Discretionary Earnings) EBITDA: Not DisclosedInventory: $100,000 included in asking priceFF&E: $30,000 included in asking priceReal Estate: Not Disclosed Share this business:
Explanation of Financial Terms
The total asking price of the business for sale.
All income the business received before any cost-of-sales or expenses have been deducted.
Arrived at by "starting with your net (before tax) profit. Then, add back in any payments made to the owner, interest and any depreciation of assets." For example, if the net profit before taxes was $100,000 and the owner was paid $70,000 then the cash flow is $170,000.
Earnings Before Interest, Taxes, Depreciation and Amortization.
The value of the merchandise, raw materials, and finished and unfinished products which have not yet been sold. If there is no inventory price listed then the seller did not provide it.
Furniture, fixtures and equipment that will remain with the business, such as desks, office cubicles, decor elements of a restaurant or showroom, computers and office machines, pots and pans, dishes, display cases, manufacturing equipment, etc., depending on the type of business.
The value of property owned by the business. May be included in the asking price or offered separately. If no real estate value is listed, it was not provided by the seller.
This very established business was started by the parents of the current owner in 1958 and it continues to thrive under 2nd generation family ownership. The business operates in the exact same location it originated; this location is fantastic and visible from a major interstate highway. Although they currently do not sell used cars, the business has a license to do so from the State of Pennsylvania. In 2007, the business added another revenue stream selling sheds, garages and other outdoor buildings that does business under another name. A nice display of these products is located across the street from the garage. The sales of these products has increased over the years. In 1970 the current owner's father built a residential duplex beside the garage and both sides are rented. Auto repair customers primarily come from a fifteen mile radius of the garage while shed customers come from a fifty mile radius. The business keeps two full time mechanics very busy and the owner manages the business, schedules work, sells sheds and interacts with the customers on the phone and in person.
About the Business
Number of Employees:
The business has operated in the same location since its inception in 1958. There is a four bay stand-alone garage with a rented apartment above. Also on the property is a duplex beside the garage that is also rented. Across the street is a very nice display of sheds, garages, multi-purpose buildings etc. that are for sale and part of this business opportunity. Additionally, there is a used car office that was utilized in the past when they sold used cars. Of course, the used car business could be reactivated should the new owner have an interest. The current owner has verification that there are no environmental issues on the property. The owner would prefer to sell the real estate with the business but is open to leasing the garage or considering a lease with option to purchase to a qualified buyer. Rental income from the duplex and the apartment is currently $2,250 per month.
Competition related to the auto repair part of the business is primarily a few other auto repair garages in the general area. However, the location of this business is second to none. It is right off and visible from a very major interstate highway that is traveled by most everyone who resides within a three county area. Hence competition tends not to be a concern, but rather the big challenge is keeping the turnaround time to complete work for customers at a minimum due to the extensive workload.
Growth & Expansion:
The business has performed well for many years, but is still positioned for growth if additional mechanics were added and hours could be increased as well. Ideally, if two additional bays were added onto the garage, that would enable significant growth because the demand for their services exists. Turn times for completing work could be reduced and additional work could be scheduled resulting in increased volume and profits.
Will train for 4 weeks @ $0 cost. A general overview of the products/services offered are: Auto Maintenance and Repair; Certified/Licensed Emissions and Safety Inspection Station; Sheds, Garages, and other outdoor building sales; Used car lot (Licensed by the State) available--current owner does not operate this available segment of the business.
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