Active
Successful Auto Repair with Real Estate Available
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They do everything except body, paint and upholstery work. This is an excellent opportunity with more upside potential. Business is located in one of Central California's finest communities.
This Automotive Repair Service is a well-established profitable business with a good reputation, and prides itself on being up to date with the latest technology in the industry. Including EV's.
The owner has positioned this business for a sale by hiring and training its employees to support a new owner. He will train the new owner and will remain with the Business as a paid employee if desired.
The Business is equipped with 8 Bays, 4 above ground lifts in the 2,400 square foot building, two outside the building and two bays with no lift in the smog area. The Star rated smog and repair station acts like a funnel to bring business into the repair shop.
It has an extensive Furniture Fixtures and Equipment List valued by the owner at approximately $173,000. The real estate valued at $490,000 is available for purchase or lease. Business qualifies for SBA Financing, for a qualified buyer.
This a ready to go money making machine and you get out of the rat race and live in one of the nicest communities in California.
Listed By: John Willingham
Background information
Reference:
53789
Year established:
2001
Reason selling:
Retirement
Finance
Sales:
$964,000
Profits:
$170,000
Profit type:
Discretionary Earnings
Operations
Employees:
The Business has 9 full time employees and all but one live in the community.
Equipment:
The Business comes with all of the equipment necessary for the operation of the Business. A list will be provided to qualified buyers.
Inventory:
A small amount of inventory is included in the price.
Furniture fixtures and equipment:
The FF&E is included in the price and valued by the owner at $173,000. I have never seen an auto repair business with as much equipment as this one.
Premises
Facility:
The Subject property is located in Central California. According to the public record the lot is 18,730 sq. ft. and the improvements are 2994 sq. ft. consisting of a 594 sq. ft. building built in 1922 and a 2400 sq. ft. building built in 1925. There is also a 15'X10' building with two bathrooms, two metal sheds and a large carport. It is presently being used by the owner as an automobile repair and smog shop. I verified the zoning, and it is T-5 Downtown, the present use complies with the zoning but a new buyer should verify that with the City planning department.
Location:
California
Opportunities
Growth:
The Business has grown an average of 5% annually over the last 3 years, new automobiles have increased in cost and interest rates are higher causing more people to keep their cars longer. Older cars need more repairs.
Price and terms
Price:
$449,000
Financing:
This Business qualifies for SBA financing. The Business is listed for $449,000 and the Real Estate is listed for $460,000 = $909,000. SBA should finance about $773,000K amortized over 25 years with $136,000 down.
Training:
Seller will provide training and orderly turnover to the new owner.