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National Midas Muffler Franchise For Sale

10/wk
Morris County, New Jersey, United States
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Asking Price$250,000
Revenue$576,231 Established1995
Cash Flow$105,000 Employees8 full-time
FF&E$125,000* FranchiseYes
Inventory$15,000 RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
National Franchise Midas Muffler auto repair business located on a state highway of Morris County, New Jersey. Midas Muffler is known in the auto industry for its quality professional service and this particular location has had years of consist income. The seller is relocating out of the general area and is prepared to supply training and financing to a qualified buyer. The business site consists of 15,000 square feet and a 6,000 square foot facility with a clean modern appearance. The business does from the brake pedal to hydraulic brake fluid, brake master cylinder to power brake booster, drum brakes to disc brakes and electronic anti-lock brake sensors, Midas technicians know every part of your brake system inside and out, No wonder Midas is North America’s brake service leader. The franchise also supplies a full menu of repairs for any vehicles. With locations throughout the US and Canada, you can be confident on the product and service. The sale requires franchise approval which will represent a long term franchise agreement. The sale includes, lifts, computers, a full menu of equipment required for this particular business and an itemized list is available upon request. The building 6,000 sq ft can accommodate ten vehicles on one main floor consisting of one floor with no basement. The business site has a twenty-five car private parking area as part of the lease agreement. The business is active six days weekly, closed Sunday with hours from 8:00 am to 5:00 pm. The business is franchise approved & has a municipal CO for auto repairs. The sale offers a long term commercial lease, expires 2024/01/01 with a current monthly base rent is $5,833 triple net, rent security $6,000. The business has 8 employees who are unaware of the pending sale and expected to remain post-closing, monthly payroll approximately $10,000. Based on the asking price, required down payment and net income this business should supply a 28% return to the owner operator prior to debt service. The business has been valued at $250,000 which includes inventory, based on a multiple of the net yearly income and the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. 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 business is located on a US State Highway in Northern New Jersey for convenient customer access and with a substantial population who continues to require auto service and repairs. The facility consists of 6,000 square feet with a five bay garage and one hundred and fifty feet of highway exposure. The business has a professional office and a clean customer waiting area and all equipment including lifts are in excellent condition and included in the sale.
Competition:No other similar competitors exist nearby, seller will supply a non-compete agreement and franchise will supply a distance requirement.
Growth Potential:With continued good service the business will maintain a solid income.
Training/Support:The seller will supply a full transition period to the purchaser post closing.
Seller Financing:Seller financing is available to qualified buyers.
Sale Reason:The owner is relocating out of the area after many successful years.
Ad #85989
Seller Reference #AUTO205
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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