Listing ID: 05142101
Are you looking for an amazing opportunity to purchase an auto repair center with annual sales that have grown to $804,000 in 2020, despite the impact of the COVID-19 pandemic? This profitable business generates $160,000 in cash flow, affording an owner/operator an outstanding salary after debt service. Located in the scenic Downeast coastal area of Hancock County, the Business is well established with nearly 30 years of goodwill, excellent reputation for customer service and a loyal clientele. The Business comes complete with well-maintained equipment for a full service auto repair business, including brakes, lube-oil-filter, engine repair and diagnosis, steering and suspension, starting and charging, heating, and cooling, and tires, wheel balancing and alignment. The prototype shop is 3,200 square feet, with room for storage, plenty of parking, and a customer waiting area. The Seller has made a significant investment in new equipment and building improvements over the past several years.
A full crew of Technicians, Service Manager and Service Advisor 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 Seller wishes to downsize from multiple business operations after eighteen years of operating a successful auto repair center. 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 beautiful seacoast community.
The Asking Price for this profitable Business is $275,000, plus $25,000 in inventory. The Business qualifies for 90% Bank/SBA financing, so a down payment of approximately $30,000 will be required from a qualified Buyer. A Buyer may choose from securing a long-term lease at $4,250/month, or alternatively an option to purchase the real estate for an additional $375,000. A turnkey purchase of both the Business and the real estate is pre-qualified for 25 year financing, with a monthly payment of only $3,910 to 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). This program of providing free payments for three months, up to $9,000/month, is a great benefit to a Buyer acquiring a business.
Total Sales: $804,000
Cash Flow: $160,000
Real Estate: $375,000
Lender Pre-Qualified?: Yes
Reason For Sale:
Downsizing after 18 years in the Business
Training & Support:
Seller will provide 60 hours of training and extended telephone support to ensure a smooth transition. With Seller training and an experienced crew, no prior automotive background is required.
Year Established: 1993
Square Footage: 3200
Well-organized 3,200 square foot facility. Fully equipped with the latest technology for a wide range of auto repairs and preventive maintenance services for diverse brands of import and domestic cars and trucks. The Seller has made a significant investment in new equipment and building improvements over the past several years.
Honest, personalized service and consistent positive Internet reviews have enabled the Business to gain new customers while retaining its long-term loyal clientele.
Local owner/operator could grow the business by expanding marketing and soliciting local fleet opportunities.
Qualifies for 90% 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, on transactions that close by September 30, 2021 (earlier if funding is depleted). This program of providing free payments for six months is a great benefit to a Buyer acquiring a business.