Location: San Bernardino County
Listing ID: 01231803
Are you looking for an amazing opportunity to purchase an independent auto repair and tire center with annual sales that have averaged $1,269,000 over the past five years?
Over this period, this highly profitable business has averaged $265,000 in Cash Flow for an active owner/operator, affording a lucrative salary after debt service. Sales grew 8% to $1,184,500 in 2019, with Cash Flow growing 19% to $253,400.
The Business comes with the tire and automotive equipment required to run a full service auto repair business, including alignment, brakes, oil change, engine performance, steering and suspension, starting and charging, and heating and cooling. It is along a heavily traveled retail corridor ½ block from a major I-10 interchange, with a traffic count of 31,000+, and surrounded by an above-average income residential population. Seven experienced employees 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 8,800 square foot prototype building has ten service bays and lifts, an attractive customer reception and tire/wheel display area, a huge area to store tires and parts, 2nd floor offices and 40 parking spaces. The owners recently renegotiated a long-term lease with a monthly rent that is well below market.
The Asking Price for the Business is $695,000, plus inventory. The Business qualifies for 90% Bank/SBA financing over a 10-year term.
Under the new CARES Act passed by Congress, the SBA may provide funding for the first six months of bank payments, subject to buyer qualification, closing by September 27, 2020, and other SBA guidelines. This program of providing free bank payments for the six months is a great benefit for a buyer acquiring a business this summer.
As an essential business, this full service auto center remains open with concierge and drop-off service.
The owners have been in the business for 35 years and are motivated to retire. 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 the community.
Total Sales: $1,184,500
Cash Flow: $253,400
Lender Pre-Qualified?: Yes
Reason For Sale:
Training & Support:
Seller will provide a minimum of eight days of training and four months of telephone support to ensure a smooth transition. With Seller training and an experienced crew of Sales Associates and Technicians, no prior automotive background is required.
Broker No.: DRE#01488246
Year Established: 1984
Square Footage: 8,800+
Ten bay building (ten lifts) of 8,800+ square feet with large tire/part storage area, customer waiting/display area, and plenty of parking. The shop is equipped for a high volume of tire sales, wheel balancing and alignment, along with full service automotive repairs and preventive maintenance. Long-term lease at below-market monthly rent.
Local owner/operator could grow the business by soliciting fleets, expanding advertising, and greater use of social media.
Pre-qualified for 90% Bank/SBA financing.