Business Overview:
The current owner, bought the body shop in 2003. In 2006 he purchased the facility the business currently operates in and it is available for sale or lease at the buyer s option. The majority of the shop s work, 85%, is retail work. The business has Direct Repair Program (DRP) agreements with most of the major insurance companies. No single insurance company represents more than 15% of the business' revenue. The shop is an Inter-Industry Conference on Auto Collision Repair (I-Car) Gold Class certified which places in the top 10% of body shops nationally. The Company has 11 employees including the owner; one office manager, one parts administrator, one shop manager, one estimator and the rest are production personnel. Recent health concerns and a desire to eventually retire have caused the owner to offer the business for sale at the price of $350,000. The associated real property the business currently operates is also available for the purchase price of $1,200,000 (slightly less than the most recent tax assessed value) or can be leased on a five year triple net flat lease at the annual rate of $90,000. The owner is willing to stay on through a reasonable transition period and perhaps a negotiated extended period of time, if the buyer so desires.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
The business is located on a commercial corridor in the heart of the Hampton Roads Metro area. The building sits on 2.89 acres of land. The building is a combination of steel and concrete with a flat roof that was built in 1980. A new roof was installed in late 2006. The building has 12,638 square feet with roughly 19.5% or 2,470 square feet of that as finished space. It boasts 16 bay service doors with hydraulic lifts and garage space as well as two downdraft paint booths with 16 foot service doors. Could handle significant growth.
Market Competition and Expansion:
The business a gold class rated shop that only 10% of the industry achieves. The have a reputation for quality work done on time. They favorably compete with any shop in their marketplace.
Reason for Selling:
Health Concerns
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.
Resources: