Contact: Glen Toadvine
Email: [email protected]
Your Reference ID: GT080718
Having been in business for 10 years, the owner is now ready to retire and transition the business to its second owner.
The facility is very attractive, having a large impressive well-decorated, waiting area. The equipment is newer and in great shape with a 2-bay spray/bake oven, modern computerized paint mixing system, and two 3-post frame straightening machines. All equipment can handle cars and small trucks. Overall the facility is running under capacity.
The facility is 12,000 square feet, sits on about 2 acres of land and has plenty of parking. The building is on a long-term lease from a third party under favorable terms. The current monthly lease rate is under $6,000 per month, or less than 5% of revenues.
The company has a full-time manager in place and an excellent seasoned and well-trained staff of about 10 employees. The shop has contracts with many insurance companies as well as fleet accounts that supply a consistent flow of business. The current owner does very little advertising.
Total revenue has been growing, FYE 2017 was $1,586,000, FYE 2018 is currently tracking a similar path. The business is currently absentee owned, an active new owner would most likely grow both revenue and profitability.
The owner states the buyer should have specific industry experience, this is not an investment opportunity for a buyer that does not have this experience.
The asking price does not include the inventory and WIP, which averages about $90,000 at cost.
Please note the potential buyer will be required to sign a non-disclosure agreement, and individual buyers will be required to demonstrate their financial ability to consummate the purchase.
To learn more about this outstanding opportunity please contact Glen Toadvine (firstname.lastname@example.org).
Seller note available to those who have industry experience.
Location(s): Southeast Michigan
Asking Price: $300,000