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Bus, Limo, Tour Service - Growing, Profitable
To facilitate the owner’s desire for a retirement during 2019, this business is offered at an amazingly low price. Priority will be given to those buyers who act expeditiously and decisively. Seller financing available.
In business for ten years, this business has been growing rapidly over the last several years to become one of the largest and most respected private ground passenger transportation providers in northern California. Its competent professional management will continue to grow the business long after the owner/founder begins a well-earned retirement. This will assure a smooth and seamless transition and transfer of ownership. Serving the entire San Francisco Bay Area, Napa Valley, and beyond. The ownership can be semi-absentee.
The company provides vehicles and drivers for party buses, wine tours, Lake Tahoe day trips, brewery tours, holiday parties, airport transfer, hotel courtesy shuttles, prom nights, wedding events, corporate shuttles, sporting events, concerts & festivals, convention shuttles, 'last mile' public transit shuttles, vanpools, on-demand car service; basically, every kind of limo hire and bus charter.
The current and pending recurring customers include some of the biggest corporate names in the world.
Sales history: 2014—$889,000; 2015—$1,155,000; 2016—$1,323,000; 2017—$2,020,000; 2018 is on target to exceed $2,200,000 in sales.
Seller’s Discretionary Earnings—Approximately $273,000. Very accurate and complete financial data is available for serious buyers upon signing the NDA and speaking with the seller and broker.
Tangible assets include all vehicles, all in excellent condition and several 2 years old or newer: Executive Limos, SUV Limos, Lincoln MKTs, Stretch Limos, Mercedes Sprinter Buses, Luxury Limo Buses, Executive Buses, Motor Coaches. Plus office and garage equipment, furniture, software, etc. Seller estimates the fair market replacement value of the vehicles to be approximately $1,100,000. With all other equipment, computers, furniture, software, etc., Seller estimates the total fair market value of all tangible assets to be approximately $1,200,000.
Employees, both drivers and support staff, are highly trained, experienced, screened, reliable, and loyal.
The Transaction: The asking price for the business is $499,000 (less than 25% of annual gross sales). This is for the entire business, including all related intangible assets, employment relationships, customer contracts, database, intellectual property. It does not include cash, accounts payable, or accounts receivable, or physical/tangible assets (e.g., vehicles).
Vehicles (& other tangible assets): The buyer may acquire as many of the vehicles (& other tangible assets) as desired at fair market value. The buyer is not required to purchase all (or any of) the vehicles if not wanted. Vehicles will be transferred to the buyer free of any liens or encumbrances.
Financing: Substantial seller &/or third-party financing may be available to a qualified buyer.
For personal reasons, the owner desires a quick transaction and has priced the business at a relatively low price accordingly. He expects that the transaction will involve a 4-month transition during which he would work on a regular basis with the new owner, after which he will retire by summer of 2019.
Note: All data for this business 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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