Business Category: Auto Repair, Parts & Services, Automotive Dealers, and Service Businesses
Listing Price: $650,000
Cash Flow: $249,563
Equipment Value: $450,000
The Company is an auto repair shop located in Northern Michigan. The company was founded in 2002. The company currently operates with a 6 person staff, with the owner being semi-absentee. The Company offers full-service auto repair, alignments, tire sales, salvage auto parts, 24-hour towing, and computer balancing. They also are a used car dealer and purchase salvaged vehicles.
*Special Note: In a victory for small business buyers, the recent $900BB stimulus bill directs the SBA to waive all guaranty fees and pay up to the first 3 months of new SBA 7(a) loans approved between February 1 and September 30, 2021 (up to $9,000/month). Our advice: Don’t wait. Find a quality business and get moving quickly. Banks will be busy this year and buyers that wait until July/August will likely lose out.
Opportunities For Growth:
(1) Towing: While towing is a service that the company does currently offer, it is poised for more growth. The company has not done any towing based advertisement and could benefit from more paying customers realizing that this was one of the services that they offer. A new owner could develop a simple marketing scheme to accomplish this and expand this sector of their revenue drastically.
(2) Auto Salvage Parts: Auto salvage parts are an essential piece of many auto shop because they require little to no labor, and they build great, lasting relationships with customers. Working this into the revenue stream more would be fantastic for the company.
(3) Auto Sales: Auto sales are something the company certainly has upward potential on. With an extremely large amount of space to store these cars, the transition into pushing this service more would be easy.
(1) The Location: The company is located in a rather isolated part of Michigan. However, this has become one of the strongest selling points for the company. When auto repair shops struggle, its usually because of the heavy amount of local competition that they face. However, the Business does not have another repair shop located near them for over 20 to 30 miles. This allows the Company to retain essentially 100% of all local business.
(2) Great Reputation: In the auto repair world, reputation and trust is everything. The Company has done a fantastic job building trust with their customers.
Real Estate Value: $450,000
Real Estate Available: Owned
Reason For Sale: Other business opportunities.
Number of Employees: 5