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Maaco Franchise Re - Sale
Location British Columbia,Canada
Asking Price Range $250K - $500K
Gross Revenues $900000
Net Profit / Cash Flow $71000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Yes
Year Established 1997
Number of Employees 6 - 9
Relocatable No
Number of Employees 6 - 9
Real Estate Leased
Training Provided by franchisor and by current owner
Reason for Sale Retirement
Description This is a Maaco Collision Repair and Auto Painting Franchise. This is a franchise re-sale. Revenues are derived from (1) fleet work (trucks and larger vehicles) responsible for 30% or revenues (made up of corporate accounts), (2) retail clients (55%) and (3) 15 % of revenues are insurance related. Priced at $299,000.
The Maaco franchise is a nationally recognized name offering National warranties and lower prices. The business is very well located and has been in its current location since 2005 and has a solid existing customer base. By purchasing an existing franchise a new owner has reduced much of the risk of opening a brand new franchise in a new location as this location already has average gross revenues of over $900,000 for the past two years.
The existing franchise agreement was signed in 2009 and has 12 years remaining (with an option to extend for further 5 year periods). A new franchise is typically for 15 years. A new franchise costs more to set up especially when one factors in the cost of not only the franchise fee but also other set-up costs like leasehold improvements required to set up a new facility and finding the right staff. This is a turn-key operation as it is fully furnished (all of the hard assets of the business are included in the price) and all (9) staff are in place and want to stay. The shop facilities already meet the highest repair industry standards for workmanship and professionalism.
An important point also is when purchasing a new franchise a new franchisee is only entitled to one paint booth. This business however has two booths in place one booth for ordinary vehicles and one for trucks and larger vehicles and that is why is does so much fleet work, which makes this much more attractive than starting a new franchise due to the additional services and sources of revenue it provides.
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