Price: $450,000
Location: Monmouth County, New Jersey
Industry: Services
Listing ID: svs517
Excellent business opportunity for this fourteen-year-old highly profitable driving school with a dependable gross yearly income of $589,659 and a net yearly income of $190,172 based on an onsite owner operator. Approximately 90% of the service is for younger adolescents obtaining their driving license and the company offers an easy in-office registration process that eliminates unnecessary trips to NJMVC. Their philosophy is prevention instead of correction and the company is focused on giving each and every student a clear and strong driving foundation which will stay with them for life. They will supply a solid foundation of driving skills through their expert instruction for all NJ drivers 16 years old and up. Their lesson plan involves clarity in right of way rules, control of the vehicle, road test preparation along with transportation to the road test, as well as imparting defensive driving techniques. Each and every student is important and obtains a personalized service. All of the driving instructors are licensed by the State of NJ MVC and are subjected to federal background checks. They have handpicked the best instructors the industry has to offer, and all of their employees are courteous, patient, professional, reliable, and friendly. First time applicants complete all the NJ-MVC state forms at their office, along with a vision screening and written test (if necessary). They submit the application to the state and have the learner’s permit processed and ready when they arrive for the first lesson. This will allow the applicant to start the lesson from home or school and in their hometown, to practice driving in the areas that they are familiar. Choosing a Driver Education Provider for a child is a crucial decision and this company supplies the highest quality and service available in the industry. This is a dependable 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 prior to debt service.
Listing Details
Revenue: $589,659
Cash Flow: $190,172
FFE: $125,000 (Included in Price)
Inventory: $500 (Included in Price)
Real Estate:$620,000
Reason For Sale:
The owner is retiring and relocating after many years in this service industry.
Training & Support:
The owner will remain post-closing in order to supply an appropriate training & transitional period to the new
operator. Also, if required the seller will remain and supply additional training at a fair cost to the purchaser.
Operation
Year Established: 2010
Days & Hours of Operation: The business is active by appointment only for driving instructions, based on a seven-day work schedule, However, the office is active from 9:00 am to 5:00 pm.
Owner Hours Per Week: Full Time
Employees: The company has five employees who are unaware of the pending sale and fully expected to remain Post-closing and the monthly payroll are approximately $9,500.
Location
Security on Lease: Two Months
Lease Option: Yes, Available
Monthly Rent: 4,050
Type of Location: Commercial Avenue
Square Footage: 2000
Relocatable?: Yes
Facilities Information:
The business facility which consists of approximately 1,500 square feet is located in a modest commercial
professional office building with an appropriate professional appearance. Due to the nature of the business,
many of the clients do not come into the office but rather arrange the service from the internet or the phone. The
business is located in Freehold, New Jersey on a convenient road and in the county of Monmouth.
Summary
Historical Summary:
Private companies supplies driving instructions to the general public.
Owner Qualifications:
This purchase transaction requires the appropriate New Jersey State issued license.
Competition:
The expense to set up a new driving school will require substantial replacement cost for vehicles and software, employees, etc. Also, to the best of our knowledge, no other new competitors are expected near to this business and the owner has agreed to supply a long term, non-compete agreement to the purchaser.
Potential Growth:
The business presently has a very limited marketing budget, basic web site which is not optimized and if improved can further develop the business income performance.
Financing/Terms:
seller financing can be considered to a qualified buyer with an appropriate down
payment, collateral, and credit rating.
