Tow Hitch & Truck Rental Business & RE for Sale in NW Suburbs of IL

Cook County, IL

Seller Financing Available
Tow Hitch & Truck Rental Business & RE for Sale in NW Suburbs of IL
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Asking Price: Get Financing: $1,615,000

Cash Flow: $213,238

Gross Revenue: $532,313

EBITDA: N/A

FF&E: $125,000

Inventory: $17,000*

Real Estate: $1,320,000

Established: 1985

*not included in asking price.

Tow Hitch & Truck Rental Business & RE for Sale in NW Suburbs of IL

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Business Description

This is a tow hitch and box truck rental business located on an extremely busy road in the Northwest suburbs of Illinois. There are more than 50,000 cars that drive past the front door of this business and property every day. They sell and install trailer hitches and provide round trip and local truck & trailer rentals. The property is for sale in addition to the business.

The current owners started the business and acquired the property 33 years ago. They have been in business a long time and have established a reputation for providing low cost & dependable rental trucks & trailers with no hidden costs and after hour drop offs for convenience. Insurance is included in all rentals and their rates remain the same 7 days per week, unlike some of their competitors who charge more on weekends when most people tend to rent. They also repair trailer towing lights & sell/rent bicycle racks. They have 7 different size trucks with loading ramps & automatic transmissions.

Note: The current owners prefer to sell the business & property together.

Asking Price/Business & Real Estate: $1,615,000 plus inventory
Gross Annual Sales (approximately): $532,313.00 (2016)
Cash Flow (approximately): $213,238.00 (2016)
Value of Trucks, Trailers & Equipment (approximately): $125,000.00
Value of Inventory (approximately): $17,000.00
Value of Real Estate (approximately): $1,320,000.00
Building, Property details (approximately): The annual real estate taxes are +/- $44,000. The lot size is +/- 1.525 acres. The building is +/- 2,700 SF. It’s a 1-story commercial building with plenty of parking. The building is located on a VERY busy street in the Northwest Suburbs of Illinois with more than 50,000 cars driving past the front door each day!
Seller Financing: Owners will consider a small amount of financing with qualified & experienced buyer/operators.
Contact: Tony, info@ababusinessbrokers.com, Advantage Business Acquisitions, Inc. 847-722-1877

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Owned
Included in asking price
Building SF:
2,700
Employees:
5
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
In addition to selling the business, they are also selling the building & property. The annual real estate taxes are +/- $44,000 annually. The real estate taxes were recently reduced from $47,000 per year to $44,000 per year. The owners are very diligent about fighting the property taxes each year. The lot size is +/- 1.525 acres. The building is +/- 2,700 SF. It’s a 1-story commercial building with plenty of parking. They have a surveillance system which allows the owners to view the business & property online. The building is located on a VERY busy street in the Northwest Suburbs of Illinois with more than 50,000 cars driving past the front door each day! The building consists of 2 large bays with overhead doors, an office, a reception area and a storage area. The price includes 29 trucks & 12 trailers with an approximate used value of $95,400 along with miscellaneous other equipment & tools.
Competition:
As with nearly any business, there are areas of opportunity to increase sales and cash flow. They don’t currently spend very much at all on advertising. This is partially because they have more than 50,000 cars driving past their front door each day and you certainly couldn’t miss the place because the business is very visible however, freshening up the website, doing some search engine optimization and sending out mailers regularly to nearby businesses & homes would help increase sales even further. Located in NW Suburbs of Illinois (Cook County) Sale includes: the Property, the Business, all Equipment & all Fixtures. Purchase Price / Real Estate = $1,320,000 Purchase Price / Business = $295,000 plus inventory Total Purchase Price / Business & Real Estate = $1,615,000 plus inventory
Growth & Expansion:
Another area of opportunity would be updating the street sign to a programmable LED sign so you can change the sign anytime you want and advertise specials without climbing on a ladder. Probably the best area of opportunity would be to add a lift in the garage & offer quick oil changes. There’s a repair shop very close by however, they are not a quick oil change place, so with so many cars driving past each day, a quick oil change service would probably do pretty well. Plus, they already have the space to add this service. Another expansion possibility is to consider selling & installing tires. They certainly have plenty of room on the property to expand as well as the property having excellent visibility and very high traffic counts.
Financing:
Seller will consider small amount
Support & Training:
The owners are willing to provide the necessary training for a new owner/operator. They also have an employee that has been with them for 15 years. He is familiar with all aspects of the business and the owners believe he would like to continue working for the new owner(s). The asking price for the Real Estate is $1,320,000. The asking price for the Business (not including inventory) is $295,000.00. The total purchase price for the Business & Real Estate is $1,615,000.00, not including inventory. The owners prefer to sell the Business & Real Estate together. Annual Gross Sales 2016 = $ 532,313.00 2015 = $ 567,528.00 2014 = $ 656,304.00 Sellers Discretionary Earnings (Cash Flow) 2016 = $ 213,238.00 2015 = $ 242,347.00 2014 = $ 272,292.00
Reason for Selling:
The owners have been in the business 30+ years and are considering retirement
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(from currently available funds)
 
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Tony Gavros

Business Listed By:
Tony Gavros

Advantage Business Acquisitions

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