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Pre Owned Auto Dealer
Location New Jersey,United States
Asking Price Range < $250K
Gross Revenues $750000
Net Profit / Cash Flow $75000
Cash Flow Type EBITDA
Seller Finance Yes
Year Established 1970
Number of Employees 1 - 3
Inventory 85000 Equipment & 1500 Inventory
Relocatable No
Number of Employees 1 - 3
Real Estate Owned
Training Seller will supply a full transitional period to the new operator and will remain three months post closing.
Reason for Sale Retiring after many successful years in this particular industry.
Description Pre Owned Auto Dealership business located on a highly traffic and active county road in Bergen County, Northern, New Jersey. This business has a state issued license which allows the resale of pre owned automobiles. This Auto business license also permits the user to purchase vehicles at various auctions at competitive prices. The business site can accommodate 100 vehicles with a 300 foot highway frontage and lots of drive by traffic. The facility has a professional image, is clean modern and consists of multiple private offices and a one bay garage. The business has a consistent gross income with average sales of twelve vehicles monthly and most sales represent a minimum $2,000 net profit. This successful business has existed for thirty years and the seller owns the property and is retiring. This business has a solid reputation with wonderful customer service and a well known reputation for repeat business. The Pre Owned Auto industry has substantially increased due to the slow economy, more customers cannot afford a new vehicle and desire to purchase a lower priced pre owned automobile. The business has annual sales of $1,000,000 representing a minimum $100,000 net yearly income. The seller is the landlord and will supply a long term lease and option to purchase the real estate. Based on the asking price, required down payment and net income this business should supply a 50% return to the owner operator prior to debt service.
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