Service & Leasing Co

Essex County, NJ

Seller Financing Available
Equipment repair Leasing Co.

Asking Price:$250,000

Cash Flow:$75,000

Gross Revenue:$500,000

EBITDA:N/A

FF&E:$125,000

Inventory:$2,500

Lease Rate/Sq. Ft.:$12

Established:1970

Service & Leasing Co

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Business Description

Purchase or partnership available due to owner retirement for this successful equipment repair & rental company founded in 1970 which leases and services a large assortment of light construction equipment. The company provides expert service and repairs to its many customers. No matter what make or model of equipment, they can repair and service it, representing a substantial mark up to the owner operator. They service all makes and models of forklifts, stationary pump, engines, and light construction equipment. The company also offers rentals of various types of light construction equipment. The company has a gross income of $500,000 and a consistent net yearly income to the owner operator. The company has an average mark up of 50% plus profits from the required parts. The company provides fast and reliable machinery repair and maintenance services. Their technicians provide top-rated services, minimizing any lags in machine use, so they can better serve their customers. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent investment return to the owner operator prior to debt service. This industry does not require government licensing approval to purchase or operate. The facility consists of 4,000 square feet of interior space and 3,000 square feet of exterior used for storage and parking. The company is located in an industrial area and this business opportunity is in Northern New Jersey, Essex County in the city of Newark. The general area consists of various companies with continued demand for this service. This business has four employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll of approximately $11,000. The business has an assignable commercial lease which expires 2017-01-01 plus additional options, with a monthly rent of $2,500, cost per square foot is $12.00 and rent security $2,500. The business fixed assets has an estimated value of approximately $125,000 which is based on equipment replacement cost and the sale consists of a various rental equipment, numerous tools, POS system, computer, software including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. The facility has appropriate private mall parking on site as part of the commercial lease. The business is active five days per week, with hours from 8:00 am to 5:00 pm. he sale includes a certificate of occupancy from the municipality and the required city licenses to conduct its day to day business. The owner will remain post-closing to supply an appropriate transitional period to the new operator. Also, if required the seller will remain as a partner or employee. The owner is retiring after fifty years in this service industry. The business presently has a no marketing system or web site and if upgraded can further develop the business bottom line net income. With an investment of additional rental equipment, the company can also be substantially improved and developed. Additional income is available if they provide their customers with mobile repair services, traveling onsite to repair and recondition an assortment of equipment. Due to various circumstances, particularly the type of industry, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser. 2016 yearly gross income is projected at $500,000 and the business has a yearly net income of $70,000 based on an owner operator and prior to debt service. The business has been valued at $250,000 based on a multiple of the net yearly income including the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this business opportunity.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
4,000
Lease Expiration:
11/1/2017
Employees:
Four
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The facility consists of 4,000 square feet of interior space and 3,000 square feet of exterior used for storage and parking. The company is located in an industrial area and this business opportunity is in Northern New Jersey, Essex County in the city of Newark. The general area consists of various companies with continued demand for this service.
Competition:
Due to various circumstances, particularly the type of industry, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
Growth & Expansion:
The business presently has a no marketing system or web site and if upgraded can further develop the business bottom line net income. With an investment of additional rental equipment, the company can also be substantially improved and developed. Additional income is available if they provide their customers with mobile repair services, traveling onsite to repair and recondition an assortment of equipment.
Financing:
Owner financing is available to qualified buyers.
Support & Training:
The owner will remain post-closing to supply an appropriate transitional period to the new operator. Also, if required the seller will remain as a partner or employee.
Reason for Selling:
The owner is retiring after fifty years in this service industry.

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Ron Cervelli

Business Listed By:
Ron Cervelli

Regal Consulting Corp.

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