Auto Restoration & Classic Car Sales

Gig Harbor, WA (Pierce County) (Relocatable)

Seller Financing Available
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Asking Price: $175,000

Cash Flow: N/A

Gross Revenue: $650,000

EBITDA: $195,000

FF&E: N/A

Inventory: $250,000

Rent: $5,000 /Month

Established: 2013

Auto Restoration & Classic Car Sales

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Business Description

Classic Car Restoration & Sales. Company For Sale

Owner is looking to retire (semi) and spend more time on his boat. He has built this company from scratch and has an excellent reputation for quality work, with honesty.

What started out as a shop to work on his own collection of 13 cars and a small personal restoration shop, has now turned into a successful business with several divisions including car sales (with a dealers license) as well as a concierge division and a Non Profit 501c32 Teaching Museum. The Teaching museum teaches young kids how to work on classic cars, plus helps them understand how the office functions by having them split their time between the shop and the office. This business administrative part of our teaching was again, accidental, yet turned out being something that truly helped the few we have had under our tutelage so far.

We currently have contracts for several full restorations that pay monthly and that have just signed contracts with us. Not to mention our largest concierge client who also pays monthly. For someone looking to take advantage of the current owners hard work, and start with positive income, nows the time.

The Concierge division came to light when we realized we were offering this type of service anyways to clients who’s cars we worked on, why not take that service on the road to care for clients with multiple cars

The property the business is in can also be purchased

Detailed Information

Location:
Gig Harbor, WA
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
6,500
Lease Expiration:
12/30/2022
Employees:
4
Facilities:
We currently work out of a 6500 sf warehouse on 1.08 acres of land. There’s plenty of room for parking or for hosting car club events and party’s. We've held swap meets and auctions with over 200 cars here at the shop. Our asking price is based on assets only, not income. We have always provided our Technicians with tools, therefore have enough tools to be spread amongst 5 Technicians. Workstations, bench grinders, lifts, body tools, etc et
Competition:
We have no competition that does what we do. The market outlook is excellent. The biggest selling point of our business is our Non Profit 501c32 Teaching Museum. It’s a great way to hep out with young kids and adults 99.5 % of our car sales are to buyers outside Washington State. Of these buyers, 25% go to buyers outside the United States.
Growth & Expansion:
We’ve grown to 3 times the size of what we are now, and as of January 1st 2019, have consolidated back to 1 shop with 4 employees and myself. Not being able to find the one building that could house all of us, we were spread out over town in 3 buildings. This property were in now has expansion capabilities
Financing:
50% down 12 months on balance at 5% interest.
Support & Training:
The owner will stay for as long as needed to help the new owner transition, and introduce them to the many car nuts that come hang out with us here.
Reason for Selling:
Spend more time on boat
Business Website:
http://Jimsclassicgarage.com
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Business Listed By:
Jim Sullivan

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