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Auto Repair Center – 30-year history
Down Pmt: $35,000
JEFF’S AUTO SERVICE
1383 Laurel Street, San Carlos, CA (San Mateo County)
Asking $59,000, open to offers
Turn-key Operating Auto Repair Center
This full-service auto repair business is a 30-year-old turn-key operation ready for an owner-operator to give it the attention it deserves. Currently operated by a semi-absentee owner, it generates average annual sales of $180,000+. With a 50% down payment, the seller will consider financing the rest over 30 months for a qualified buyer.
AVAILABLE FOR IMMEDIATE SALE
Preliminary Offers Due on or before 9:00 pm, Wednesday, May 9th
We will then negotiate with the top 3 offerors.
After SDE add-backs, the business profit is marginal. There is a large database of existing customers, and significant market presence and name recognition. Just the furniture, fixtures, and equipment (FF&E) alone are estimated to be worth $50,000 or more.
The business operates in leased premises, at a monthly net cost of approximately $3,000.00. The landlord is open to negotiating a long-term tenancy at a comparable rate.
The two employees are open to staying on at the buyer’s option.
The Transaction The deal structure will be a sale of all assets (including all physical assets, trademarks, good will, name, customer records, etc.,) except accounts receivable, accounts payable, and cash on hand. Inventory will be included at actual cost. The asking price is $59,000; but the seller can be flexible for a quick cash deal. With a 50% down payment, the seller will finance the balance over 2.5 years for a qualified buyer.
The Seller is very open to a reasonable transition period in order to assure that the new owner is fully-trained and that existing business is retained.
No representations are being made regarding net cash flow, “SDE”, or profit. Rather the business is being offered based on gross sales and existing infrastructure.
This is a platform for a successful business without “re-inventing the wheel.” The owner has been trying to “absentee-manage” this business, while placing his full-time attention on running his other highly-successful business (not auto repair). This auto repair business will thrive once there is a dedicated owner-manager in place.
The owner is realistic—his message to prospective buyers is simple: “Make a good faith realistic offer, regardless of the 'asking price,’ go into contract with a strict due diligence clause, and you can have access to every record and data point that you want.”
During “due diligence” (typically five business days) you can see everything, ask every question, examine every record, and, before the end of due diligence — “for any reason or no reason” —you can cancel the contract and receive every penny of the deposit back from the escrow agent if this business isn’t right for you. But, the prospect who makes the first realistic offer will be the one who has the opportunity to go to the next step.
Look at all you will be buying:
#1. an existing customer base
#2. a fully-functioning, fully-equipped shop
#4. market presence
#5. cash flow
#6. an existing lease and location
You really have a decision between “starting from scratch” and creating all those assets (1 through 6, above), or buying this foundation for a business that you can grow. Also, keep in mind that the $59,000 is an "asking price” — it’s not “carved in stone.” However, the seller will give the top 3 bidders the first opportunity to take over this business. And, the seller is willing to finance a sizable chunk of the price for a buyer with decent credit and a minimum 50% down payment.
The Transaction: The deal structure will be a sale of all assets (including all physical assets, trademarks, good will, name, customer records, etc.,), except accounts receivable, accounts payable, rent security deposit, and cash on hand. Inventory for resale will be included at actual cost. The asking price is $59,000.
The Seller is very open to a reasonable transition period in order to assure that the new owner is fully trained, and that existing business is retained.
Note: All data on this business are provided by the Seller for information purposes only, and no representations are made by the Broker as to accuracy. The Broker has made no independent verification of the data contained herein. The Broker represents the Seller and does NOT represent the Buyer. The Buyer is advised to perform independent due diligence and seek the advice of professionals prior to purchasing the Business
This is a listing.
Managing Broker & Owner Tim Cunha DRE License #01919755
DISCLAIMER & NOTICE: The User (that's you reading this) of this Website understands that Timothy Cunha, J.D. ("Broker"), his agent(s), and EvergreenGold do not audit or verify any above information given to or gathered by Broker or its agent(s) from Seller, our Client, or make any warranties or representations as to its accuracy or completeness of the information provided, nor in any way guarantee future business performance. The User should perform a complete and detailed due diligence on the business and or real estate before buying it in addition to seeking professional advice from an attorney as well as a CPA. In some cases, forward looking statements may have been made but these statements are absolutely no guarantees of future performance of the business as each User has differing skills sets to either grow the business or kill the business. Owning a business is a risky venture, but can also be a rewarding one. The User of this website is solely responsible to examine and investigate the Business and or real estate (if included in the sale), its assets, liabilities, financial statements, tax returns, and any other facts which might influence the User's purchase decision or the price the User is willing to pay. In most cases, the Broker represents the Seller who is our principal, but the Broker owes the User a duty of fair and honest dealings. Any decision by User to purchase the Business shall be based solely on User's own investigation and the User's legal, tax, and other advisors and not that of Broker or its agent(s). Any listing information may change at any time without any notice to User and User should often review the listing on the website to keep up to date.
The information contained in this offering profile was provided by the Seller and is believed to be accurate. Broker has not verified the information and therefore makes no representations or warrantees as to its accuracy or completeness. This profile is subject to the Confidentiality Agreement and Disclaimer as agreed to and acknowledge by the Buyer. Please note: typically (1) Sq. ft. is estimated, and (2) Annual Payroll is last year's and does not include any owner wages.
THE PROSPECTIVE BUYER OR LESSEE SHOULD CAREFULLY AND INDEPENDENTLY VERIFY TO THEIR SATISFACTION EACH ITEM OF INCOME, EXPENSE, AND ASSET, AND ALL OTHER INFORMATION CONTAINED HEREIN. The information contained herein and contained in any supplemental documents has been furnished by sources believed to be reliable. While we intend to provide accurate information, no warranty or guarantee, either expressed or implied, is made as to any information provided on this property, business, and/or franchise. Any information concerning the sale of a business has been provided by the Seller, Buyer, or some other third party to the Broker. Broker and Broker’s agents have not and do not verify the accuracy, veracity, or completeness of this information, and the recipient of this information is advised to conduct its own independent due diligence investigation as to accuracy, veracity, and completeness. The Broker and Broker’s agents are not responsible for misstatements of facts, errors, omissions, prior sale, change of price, or withdrawal from the market. We do not accept liability for any errors, omissions, corruption, or virus in the contents of this message or any attachments that arise as a result of email transmission.
AGENCY & REPRESENTATION DISCLOSURE: The Broker, whether acting as a listing broker or potential selling broker, hereby discloses that Broker is acting solely as agent for the seller in the marketing, negotiation, and sale (or lease) of the property, business, and/or franchise. Unless there is a clear, precise, explicit written agreement to the contrary, the Broker does not represent and is not acting as an agent for any prospective buyer(s). This disclosure covers the Broker, any agent operating under the Broker’s license, and any employee or independent contractor of the Broker.
RESTRICTION ON BUYERS: In no event shall a prospective buyer visit the property and/or communicate with the owner/seller or employees of the property, business, or franchise via phone, fax, email, postal mail, or any other means outside the presence of the Broker or Broker’s agent. All information provided about any business is CONFIDENTIAL and PROPRIETARY, and not for further disclosure except in accordance with a signed Non-Disclosure Agreement (“NDA”).
ADVICE & COUNSEL: Neither the broker nor any agent operating under the Broker’s license, nor any employee or independent contractor of the Broker is acting as an attorney, accountant, or tax/financial advisor, and no communication from them should be considered as legal, accounting, or tax/financial advice.
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