Latest Sales & Newest Listings: December, 2019
Congratulations to Edward Nemphos on the sale of Brentwood Automotive, an award- winning independent tire and automotive service center in Baltimore, MD owned and operated by Ed since 1976. After 43 years, Ed is looking forward to retirement and having time for international travel with his family. The buyers are Rick Levitan and Doug Grills, who already operate five locations in the greater Baltimore/Washington area under the AutoStream Car Care Center brand. Ed’s primary concern in selling the business was finding a buyer that shared his customer service philosophy and would take good care of his employees, including his son, who will continue to work at the shop as a technician. After many meetings with Rick and Doug and visiting several of their facilities, Ed is grateful that we found buyers with a proven passion for excellence, genuine care for customers, and a high level of professionalism. The transaction represented a turnkey sale of both the business assets and the real estate.
Like many of the owners who contact me, Ed spent several years mulling over a potential sale of his high-volume shop before actually pulling the trigger to list the business and find a buyer candidate with whom he would be comfortable. In fact, Ed originally contacted me way back in 2014, after reading my articles in Shop Owner® Magazine and completing the Sellability Score Questionnaire on my web site. We kept in touch over several years and he participated in my Business Succession Planning Webinar to learn about how businesses are valued and the action steps to take to prepare a business for sale at the maximum possible price. After a review of the 2018 financials, Ed decided in early 2019 that the perfect time had arrived to confidentially market the business. His four decades of work in building a successful business were rewarded with a healthy nest egg for retirement and exceptional buyers to carry on his legacy.
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.
Every once in a while, a truly rare opportunity becomes available for sale to a highly qualified buyer who is seeking a multi-location auto service business with exceptionally high sales and profits. This high-end, two-store San Francisco Bay Area import specialist exceeds new car dealer standards for customer service, facilities, and internet reviews. Combined sales of $2,850,000 generate a whopping $670,000 in Cash Flow. Each location is fully staffed to operate independently. The business just came on the market at $2,800,000 and is pre-qualified for 90% Bank/SBA financing. Listing ID: 09161901
Advertising has started for two high-volume independent repair shops in Humboldt County, CA. One of the shops has sales of $1,655,000 and Cash Flow in excess of $412,000, with an Asking Price of $1,195,000. The second location grosses $871,500, with Cash Flow of $222,500 and an Asking Price of $549,000. These well-established businesses are in a desirable community along the Pacific Coast in northern CA. The long-time owners also own the real estate at each location and are open to a long term lease at a reasonable rent or will sell the properties to the Buyer. These highly profitable businesses are available individually or as a combined purchase. Listing ID: 07091901 Listing ID: 07091902
A recent price adjustment makes this profitable auto repair center in the Cape Cod area of MA even more attractive. With gross sales of $820,000 this nationwide brand name franchise shop is now for sale for $175,000, plus inventory. The seven-bay fully equipped shop is 5,000 square feet, with an attractive long-term lease. Listing ID: 07081901