High Cash Flowing Service Business with Significant Seller Paper- SOLD

Contact: Michael Greengard
Phone: 616-450-0707
Email: [email protected]
Your Reference ID: MG1011117

Description:

Here is truly a dream business opportunity. This very successful 20 year old company is located on a United States Commonwealth Caribbean resort island. The business is being offered for sale now as the seller has reached retirement age and plans to transition his business to a new owner-operator after which the seller and his wife can travel. His decision could be your opportunity.

This predictably seasonal business generates more than $400,000 of SDE (seller’s discretionary earnings – the historic, normalized cash flow available to pay an owner-operator and service debt) for the less than full-time owner. There is a full-time manager who oversees the business and supervises as many as eight part-time workers. The seller expects the manager as well as the part-timers to remain with the business post-close.

The business with a fleet of more than 40 vehicles comprised of Jeeps, SUV’s, and golf carts (all included in the sale) rents them to vacationers to this desirable and heavily visited tourist destination. Approximately 70% of rental income is generated in the five month high season (from December through April). The business leases an office and lot for a favorable $12,000 annually which is less than 2% of revenues.

Both revenues and SDE have increased each of the last four years to 2016’s high water mark of revenues ($600,000 +) and SDE ($400,000 +). The business is being offered for $980,000, a very attractive 2.45x SDE. The listing price includes all vehicles (with a market value of $200,000), and for a qualified buyer, the seller could carry a whopping $400,000 seller note.

The buyer of this unique, high cash flowing, and well-priced business will inherit a solid support system of English speaking attorneys and CPA’s along with established procedures for trouble free buying, selling, transporting and maintaining vehicles. To learn more, please contact Mike Greengard (mgreengard@praxisbusinessbrokers.com).

Location(s): International

Asking Price: $980,000
Cash Flow: $400,000
Gross: $600,000
Inventory: $200,000

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