Latest Sales & National Tire/Service Chain Update: November, 2019
Mohammad Tariq did not have prior automotive service experience, but is excited to have completed four weeks of training and assume the reigns of the profitable Midas Shop in St. Clair Shores, MI. The previous owner was Michael Gnesda, who is retiring from fourteen years of ownership of the iconic brand franchise.
Joe and Holly Shaw are now the proud owners of California Tire in Newbury Park, CA. The profitable tire and auto center, with annual sales of $1,950,000, had been owned by Dean and Chris Pellegrino since 1989. Joe has over 30 years of experience as a service advisor and always dreamed of being his own boss. The Pellegrino’s will miss their daily interactions with customers and employees but look forward to having more time to travel and pursue other interests. Click to learn more about this transaction.
National Tire/Service Chain Update…
The successful sale of S & S Service in Hamburg, NY to Pep Boys came after negotiations with several major national and regional chains that competed for the acquisition. For an emotional story of the owner’s decision to sell the shop after 38 years, click to read the Shop Owner® Magazine Case Study.
If you own a 5-bay or larger auto repair business and are looking to cash in your chips, now is the time to capitalize on the opportunity to get your best selling price by contacting me at 610-722-5636 or email@example.com. There is no charge or obligation to have a confidential discussion to determine if your single or multi-location business meets the criteria for these cash buyers.
If you are a multi-location chain interested in expanding into Tennessee, contact me about an unadvertised tire and auto center with sales of $1,343,000 and an asking price of $350,000. The facility is available for a long term lease at a very attractive triple net rent of $3,000/month.