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Asking Price$800,000
Revenue$898,000 Established1989
Cash Flow$275,000 Employees4 full-time
FF&E$220,000* FranchiseNo
Inventory$1,500* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Highly successful auto quick lube business with limited repairs, a gross yearly income of $898,000 and a verifiable net yearly income of $275,000 as an onsite owner operator. The sale will include the business and all the assets which is based on fair market value. This twenty-year-old, six-day business operation (closed Sunday) is in an urban city and on an active county road in Bergen County, New Jersey. The business consistently services approximately four hundred and twenty-five (425) vehicles weekly. The facility consists of two large bays, lots of storage, with a modern office and an attractive clean customer wait area. The owner has an alternative business out of the county, is preparing to retire and has elected to reduce his work responsibility. The company is one of the oldest privately-owned oil change companies in New Jersey, founded in 1998 and has performed hundreds of thousands of oil changes by filling the gap formerly occupied by full-service gas stations and backyard mechanics. The company is also helping people in New Jersey to keep their cars and trucks longer with improved quality service. The shop is dedicated to protecting the environment and is part of a growing community dedicated to making New Jersey safe. The industry does not require any government approval to own and operate. This business has three full time and one-part time employee who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $18,000. The sale will include a fifteen-year commercial lease which expires 2031-01-01 plus two additional five-year options, cost per square foot approximately $45.00 a monthly rent of $9,500 triple net and rent security $9,500. The business assets have an estimated value of $220,000 and the sale consists of a fully equipped commercial business, which includes two lifts, displays, shelving, various hand tools, POS system, tables, computers, software including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. The facility has appropriate private parking on site for approximately fifteen vehicles as part of the lease agreement. The business is active six days per week (closed Sunday), with hours from 7:00 am to 7:00 pm. The sale includes a certificate of occupancy from the municipality and the required city licenses to conduct business at this commercial location. The business has been priced / valued at $800,000 which is based on a multiple of the net yearly income, which includes the value of the specific business assets and bank financing has been tentatively approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Based on the asking price, required down payment and yearly net income, this business expect to supply a highly dependable and consistent investment return to the owner operator prior to debt service. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.
Facilities:The facility consists of a free standing 1,800 square foot structure and the property is approximately 8,000 square feet. The business has two full bays which produce a consistent and dependable yearly gross income. The business is located on an active county road with a high volume of drive by vehicles and services various urban communities in the county.
Competition:To the best of our knowledge no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
Growth Potential:The business presently has a very limited marketing budget / plan, poor website and absentee owner, if adjusted can further develop the business to the bottom line.
Training/Support:The seller will remain post-closing and supply an appropriate transitional period to the new owner.
Seller Financing:Not applicable
Sale Reason:The seller / owner has an alternative business out of the area.
Ad #100243
Seller Reference #AUTO245
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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