Import Auto Repair – Family Owned For Over 40 Years

Price: $665,000

Location: Alameda County

Listing ID: 06112101

Every once in a while, a truly rare opportunity becomes available for sale to a highly qualified Buyer who is seeking an auto service business with exceptionally high sales and profits. This high-end, San Francisco Bay Area import specialist exceeds new car dealer standards for customer service, facilities, and Internet reviews. Sales have averaged $1,327,000 for the past three years and generated an average of $271,700 in Cash Flow, affording an active owner/operator an excellent salary after debt service. Deemed an essential business, the auto center remained open during the COVID-19 Shelter in Place. Sales are projected to rebound to $1,400,000 in 2021, with well over $300,000 in Cash Flow.

The Business is well established with over forty years of goodwill, high-traffic location, fantastic Internet reviews, A+ rating with BBB, and loyal clientele. Located in an affluent area of Alameda County, the Business has built an excellent reputation for providing cost-effective personalized service as an alternative to the expensive car dealerships. The large, 6,600 square foot nine-bay shop comes complete with the state-of-the-art equipment required to run a high-end import auto repair business, including diagnostics, engine performance, brakes, oil change, steering and suspension, starting and charging, and heating and cooling. The Business is fully staffed with an experienced Service Manager, Assistant Manager, and skilled Technicians with 175 years of combined experience. The long-term crew will support an entrepreneurial new owner who wishes to further grow the business. The Seller will provide training and support during the transition period.

The Asking Price for this profitable Business is $665,000, plus $110,000 in inventory. The Business qualifies for 85% Bank/SBA financing, so a down payment of approximately $120,000 will be required from a qualified Buyer.  Under the CARES Act II, Congress has provided funding to waive all SBA guarantee fees and cover the first three months of Bank/SBA payments, on transactions that close by September 30, 2021 (earlier if funding is depleted and subject to SBA guidelines). This program of providing free payments for three months (up to $9,000/month) is a great benefit to a Buyer acquiring a business.

With a great reputation for quality, convenience and trusted service, this Business offers a Buyer a unique opportunity to control your own destiny and realize your dreams of owning a respected business in a prosperous East Bay Area community.

Listing Details

Total Sales: $1,206,000

Cash Flow: $206,000

Inventory: $110,000

Lender Pre-Qualified?: Yes

Reason For Sale:

Long term Owner wishes to retire

Training & Support:

Seller will provide a minimum of 2 weeks of training at 30 hours/week and additional telephone support to ensure a smooth transition. With Seller training and an experienced crew, no prior automotive background is required.

Broker No.: DRE#01488246

Operation

Year Established: 1976

Employees: 8

Absentee Owner?: Yes

Location

Facilities Information:

Immaculate and well-organized 6,600 square foot facility with nine bays/lifts and off street parking. Fully equipped with the latest technology for a wide range of auto repairs, diagnostics, and preventive maintenance services for multiple brands of popular import and luxury vehicles.

Summary

Competition:

Honest, personalized service and consistent five star Internet reviews have enabled the Business to gain new customers while retaining its long-term loyal clientele.

Potential Growth:

Local owner/operator could grow the business by leveraging social media and expanding marketing opportunities.

Financing/Terms:

Qualifies for 85% Bank/SBA financing.

Under the CARES Act II, Congress has provided funding to waive all SBA guarantee fees and cover the first six months of Bank/SBA payments, up to $9,000/month, on transactions that close by September 30, 2021 (earlier if funding is depleted and subject to SBA guidelines). This program of providing free payments for six months is a great benefit to a Buyer acquiring a business. A long term lease at market rent is available.