Business for Sale Overview:
The March Group currently represents an established oil and petroleum products wholesale jobber providing unbranded and branded Marathon and Shell Oil products in the Southeastern United States. The Company owns seven convenience stores and supplies over 30 other locations that are leased to independent operators throughout its geographic market; the Company owns marketing equipment at many of these locations, including underground storage tanks, canopies, dispensers, pumps, and consoles. The owned facilities and a full line of well-maintained equipment and rolling stock have a fair market value of approximately $8.7 million, as estimated by management. With a staff of eight full-time managers and employees and interim period (5-month) sales through November 30, 2008 of $22.76 million, the Company is poised to achieve $54.5 million in revenue and more than $630,000 in EBITDA in FYE June 2009. The customer base is composed primarily of convenience stores/service stations in two counties in the Southeast. Operates from one Company-owned administrative facility totaling 4,000 square feet. The existing facility is sufficient to support proforma growth projections. Company managers are committed to remaining with the firm for an agreed upon period following a sale to help the Company realize its proforma objectives.
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Property Features and Assets:
Operates from one Company-owned administrative facility totaling 4,000 square feet. The existing facility is sufficient to support proforma growth projections.
Market Competition and Expansion:
Historically, the Company has relied primarily on repeat business (over 99 percent) and customer referrals to attract new business and has used limited marketing tools to expand its customer base. In addition, the Company actively maintains membership in professional organizations including the National Association of Shell Wholesalers, National Association of Texaco Wholesalers, and the South Carolina Petroleum Marketers Association. Since the Company is a wholesaler of branded Shell and Marathon products, it has supply agreements and lease agreements with approximately 50 percent of its customers. Other orders are secured by individual contacts and competitiveness in the marketplace. Most orders are placed by the customer.
The Company advertises in local newspapers for all surrounding counties and subscribes to Dodge Reports for a list of jobs to be bid in the working area. The Company’s trucks and equipment are marked with the Company logo, which has yielded several leads.
Growth to date is also the result of the creation and maintenance of excellent relationships with Shell Oil and Marathon Petroleum Company. Furthermore, the owners have been instrumental in building the Company’s account base through their extensive industry experience and product knowledge. The owners are proud to have built a company with a healthy diversity of clients, a firm commitment to customer satisfaction, a first-rate management staff and employee base, and a favorable reputation in its markets. Company management is aware that its high level of service plays a key role in attracting new accounts, as well as in preserving and growing existing accounts.
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.