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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Auto Repair & Tire Co.
(Automotive , Auto Body and Repair)
Middlesex County , NJ
Listed Price: $ 395,000
Listing ID: AUTO254

Listing DetailsGross Revenue: $ 805,924
Cash Flow: $ 152,700
FFE: $ 84,914 (Included in Price)
Inventory: $ 3,000 (Included in Price)
Reason for Sale:

Owner is retiring after many successful years.


Training & Support:

The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator. Also, if required the seller may be available to supply additional training, at a fair cost to the purchaser.


OperationsYear Established: 1986
Days & Hours of Operation: Mon.-Fri. 7am-5pm
Non-owner Payroll: $ 15,420
Employees: 5
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 10000
Monthly Rent: $ 5,500
Square Footage: 3800
Facilities:

This opportunity is in Northern New Jersey, Middlesex County, which consists of many highly populated communities with continued demand for this service. This successful retail facility which consist of approximately 3,800, square feet have a modern professional appearance. The business is in a mid-size commercial mall with various other active and successful businesses.


SummaryBusiness Description:

Professional auto repair and tire sale company which has been a family owned and operated business for the past (32) thirty-two years. They specialize in auto repairs and maintenance for most cars and light trucks with a high volume of tire sales. They are ASE certified and a state emissions repair inspection facility and they are a member of Enterprise Fleet Management. They are a state-certified facility with five modern fully equipped service bays, and they offer a full range of auto repairs including tire sales, state inspection and certified for air conditioning system. They offer convenient and cost-effective fleet vehicle maintenance that will provide fleet accounts and fleet managers with a fast, thorough and affordable way to keep their vehicles in peak condition. Their services provide a variety of auto repair and tires services. They pride themselves with reliable customer service and highly trained, experienced service staff. Regarding employees and payroll, this vehicle repair company routinely has five full / part time employees who are unaware of the pending sale. The payroll is based on weekly salary, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $15,420. The business transaction will offer a new ten-year commercial lease which will expire 2029-01-01, plus additional options available, with a monthly rent of $5,500, cost per square foot is estimated at $16.80, and rent security of approximately $10,000. The sale will also offer the option to purchase the building at any time during the lease term. The business fixed assets has an estimated value of approximately $84,914 which is specifically based on equipment and licensing replacement cost. This transaction consists of a fully equipped commercial retail auto repair company. This successful Auto repair company operation is active five days per week, with hours from 7:00 am to 5:00 pm. The 2017 yearly gross income represented by the seller owner is $805,924 and the business has a yearly net income of approximately $152,700 based on an onsite owner operator and prior to any debt service. Also, due to a percentage of possible non-disclosed income, a formal due diligence is recommended to the purchaser. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the photo does Not represent this particular business opportunity.


Competition:

Regarding competition, to the best of our knowledge, we believe no new competitors are expected near to this auto repair business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.


Potential Growth:

The business can be further expanded by the new operator by including towing and roadside assistance, increase weekend service, improve their marketing plan, and web site in order to further develop the business yearly gross sales.


Financing/Terms:

Available to a qualified buyer with an appropriate down payment.