Auto Repair & Used Car Lot with Dealers License

Florissant, MO (Saint Louis County)

Auto Repair & Used Car Lot with Dealers License

Asking Price:$175,000

Cash Flow:N/A

Gross Revenue:$840,810

EBITDA:N/A

FF&E:$105,000

Inventory:$5,000

Rate/Sq. Ft.:N/A

Established:1985

Auto Repair & Used Car Lot with Dealers License

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Business Description

Six Figure Owner Benefit, Parking for 70+ cars, Lots of New Equipment

Major Price Reduction.
This business is going to sell to someone soon.
Very good sales growth past 4 years, excellent profitability and a lot of future opportunity. Personal and a family member's health force sale.

This is a great setup, two complimentary businesses with outstanding growth opportunities. The used car sales customers have a higher level of trust buying from us since we are a repair shop. We have had numerous sales to the same family and friends of prior customers. Many of the car sales have resulted in new repair shop customers. And many of our repair customers purchase our used cars. Again, because of the trust factor.

The repair shop has been serving Florissant since the mid 80's. Many customers have two or even three generations as repair customers. Florissant is a great middle class city that is primarily a residential community. This equates into over 20,000 households, many with multiple vehicles. With the average age of vehicles on the road today at a record high, this means a lot of repair opportunities! Additionally our used car niche is the $2k to $5k price point. we sold over 70 units in 2015.

The shop is open M-F only for repairs and car sales. By opening Saturdays repair sales could possibly be increased by 10% immediately. And I am sure there could be a good number of cars that could be sold on Saturdays also.

All car sales are are made on a cash basis, no financing is currently offered. By working with an auto lender car sales could also be easily increased. And with room to park over 70 vehicles on the lot there is a great opportunity to really grow the used car sales. Also by working with a lender the ability to sell higher priced cars presents another opportunity to increase business.

Included in the sale of the business is the used car dealers license. This is the golden ticket to get into all of the car auctions where the great deals are found weekly. The two main auctions in the area each usually have over 1,200 vehicles a week up for sale. With our ability to repair vehicles we have a distinct advantage over most car lots. This also provides opportunity to expand car sales.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building Sq. Ft.:
4,210
Lease Expiration:
N/A
Employees:
5
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The real estate is leased. The building has 7 bays with considerable extra storage in two attached structures. The lot size is over a half acre with parking for 72 cars. All lifts have been replaced in the last four years. New diagnostic equipment. Building had roof repaced last year.
Competition:
The shop sits in a very good location for both sides of the business, repair and car sales. There are several repair shops nearby, but none can sell used cars. We have seperated ourselves with exceptional service. Florissant is a solid middle class residential community where people keep their cars longer. Which means there are more repairs that will be needed. We have strategically targeted a used car sales price of $2k - $5k for our market. We are the only car sales lot in the area targeting that price point. As a result we have many repeat buyers.
Growth & Expansion:
We are reviewing several options that will improve our web presence for both web and mobile viewing. We believe that this is the best method for future business growth. Our goal for both will be sites that are attractive, informative and interactive. While we currently do have web and mobile sites. They are only basic sites and improvement is needed.
Financing:
Local credit union has pre-approved purchase loan for $230k
Support & Training:
Up to 120 hours
Reason for Selling:
Family & health issues.
Business Website:
http://www.oldtownautomotive.net/

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Business Listed By:
Jim Mangrum

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