Seller Financing Available
Car & Truck Leasing, Renting and Sales Business 3 Locations Washington
National Brand Truck and Car Rental Business - Wash. DC area
Montgomery County, MD
King & King Business Advisors has been appointed exclusive agents for the sale and marketing of this National Brand vehicle sales, leasing and rental business.
The business was opened in the year 1989. The owner is still active in the day to day affair of the business but has managers at the various site.
Over the past twenty five years this business has grown, expanded, adapted, all in response to changes in the market, economy and business model viability. At the height of it’s growth and expansion the business operated from numerous locations in Washington D,C, Maryland and Northern Virginia. The geographic expansion was successful and the company enjoyed gross sales in the millions for several years. However, this expansion didn’t come without a significant increase in risk, fixed expenses, payroll cost, occupancy costs associated with multiple locations, repairs and maintenance. At its peak, the business had over hundreds of vehicles deployed in its rental fleet and significant debt which accompanied such expansion and growth.
In 2008 when the economy spiraled into one of the worst recessions in recent history the owner, like many other business owners, took a hard look at his business model and decided to downsize the company significantly to eliminate as much debt as possible, reduce fixed and variable expenses, and reduce risk. The decision he made in 2008 and the path he chose secured the survival of the company. Now, in 2014 the company is leaner, more diversified, profitable and ready to go to the next level. The owner however, is ready to retire.
The company now has fewer locations, several vehicles were sold and/or retired from service and not replaced, employee count was reduced drastically, and now their company enjoys being in a position of profitability with manageable debt and greatly reduced risk.
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