Business Overview:
Business established in the early 1900's. Current owner became involved in 1986 with a partner and they incorporated as a C-Corp in 1993. Current owner now owns 100% of the Company.
The activity of the business involves repair and replacement of light and heavy duty truck suspensions and brakes. About 80% of sales is large trucks, 15% is small trucks and 5% is automobiles. There also on premises is a sales counter where parts are sold to the general public.
The facility includes a total of 17,000 sq. ft. of leased space in 24 bays with 20 foot-high doors capable of accommodating 65 foot-long vehicles. Rent is $4,500 per month triple net ($54,000 per year). Real estate taxes are about $2,625 per month ($31,500 per year) in addition to the rent. Landlord is an estate administered by an executor. A complete complement of equipment with a very conservative value of $100,000 is included in the price of $500,000 along with an inventory value of current items at cost of $100,000. Additional inventory of $90,000 currently on hand will be subject to negotiation.
Owner cash flow has averaged $138,000 over the last five years and $144,000 over the last three years, remarkably consistent in spite of the general recession during these periods.
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Property Features and Assets:
The facility includes a total of 17,000 sq. ft. of leased space in 24 bays with 20 foot-high doors capable of accommodating 65 foot-long vehicles. Rent is $4,500 per month triple net ($54,000 per year). Real estate taxes are about $2,625 per month ($31,500 per year) in addition to the rent. Landlord is an estate administered by an executor. A complete complement of equipment with a very conservative value of $100,000 is included in the price of $425,000 along with an inventory value of current items at cost of $100,000. Additional inventory of $90,000 currently on hand will be subject to negotiation.
Market Competition and Expansion:
There are few competitors within the state of Connecticut with comparable physical facilities such as this business possesses. Not many auto shops can handle repairs of 65 foot trucks. This attribute is a major advantage.
Reason for Selling:
Retiring.
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
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