Independent Automotive Dealership and In-House Financing

Virginia Beach, VA (Virginia Beach City County)

Seller Financing Available
Independent Automotive Dealership and In-House Financing
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Asking Price: $1,950,000

Cash Flow: $591,632

Gross Revenue: $9,556,628

EBITDA: N/A

FF&E: $5,000

Inventory: $500,000

Established: 2007

Independent Automotive Dealership and In-House Financing

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Business Description

Huge cash flow in this nearly absentee business

This near luxury used car dealership has been successfully operating since 2007 with continuously growing profits on a continuous basis. The separated finance company was founded in 2001 to support a dealership that was opened in 1999 with the seller and his brother. When his brother desired to exit the business to get into real estate development, they sold the dealership and retained the finance company. Missing the tremendous profits inherent in running both retail and finance the seller reentered retail automotive in 2007 with the intention of selling 10-20 units a month. During the first month in business at the current location over 50 vehicles were sold without a single dollar spent on advertising. The dealership has continued to grow in sales every year since, with high sales bolstered by selling his vehicles for an average gross per unit well above industry averages. With current management and staff in place, seller can enjoy more time away from business. With the switch in owner’s business interest, hence this fantastic acquisition opportunity for both business operator/owner and private investor.

• 5,000 sf showroom and office facility
• Room to stock 150+ vehicles (current inventory 101)
• Secure accounts receivables department (steel doors and bulletproof glass at payment window)
• Cameras cover both inside and outside of premises
• Only 30% of the current facility is utilized allowing for massive expansion of the sales floor
• Beautiful location on main road with high visibility
• Extremely high traffic road
• Extremely low lease $7,600 with a 3% increase yearly
• Brand new lease signed February 6, 2015 5 year term with 5 year option to renew

Detailed Information

Location:
Virginia Beach, VA
Inventory:
Included in asking price
Employees:
3
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Financing:
1110000.00
Support & Training:
2 weeks
Reason for Selling:
other business interests
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Carven Cheung

Business Listed By:
Carven Cheung

Transworld Business Advisors

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Sponsoring Broker:
Steve Sigman

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