Profitable Western NC Ford Store-PRICED TO SELL

Not Disclosed, NC

Asking Price: Annual Revenue:
$600,000 $1,459,694

Automotive & Boats: Dealerships - Auto, Truck, Motorcycle

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RE: Profitable Western NC Ford Store-PRICED TO SELL Broker: Hal Feder
Owner Financing is Available!
Lender pre-screened with $90,000 down

Quick Facts

Asking Price: $600,000
Annual Revenue: $1,459,694
Net Profit: Not Disclosed
Cash Flow: $200,544
Total Debt: Not Disclosed
FF&E: $250,000
Real Estate: Not Disclosed
Year Established: 1977
Employees: 12
BBN Listing #: 86544955
Broker Reference #: 2007-14329

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Business Overview:

Great First Time Dealer Opportunity ... only $90,000 down payment plus working capital enables qualified financial and operational candidates the opportunity of a lifetime.

Exceptional dealership for those wanting the BEST of BOTH WORLDS ... an established, profitable and successful new Ford Motor Company franchise AND the opportunity to live in a beautiful, safe and relaxing part of the country.

Surround yourself in incredible mountain views and take full advantage of abundant outdoor living opportunities -- fishing, hiking, camping -- all the while marketing, selling and representing one of the strongest, most successful, iconic and longest running automotive franchises in the marketplace -- Ford branded cars, utilities and trucks. The powerful Ford brand includes a full line-up of stylish cars, purposeful sport utilities and hard working pick-up trucks, including F-Series, the best selling nameplate in the USA for 40 years running.

Located in rugged, mountainous Western North Carolina, this community is perfectly suited for the Ford-branded products and especially their world-class pick-up trucks. The Ford locality market share registrations ran at a healthy 21.4% over the last 12 months.

During 2018, the dealership generated over $7 million in top line revenue retailing 86 new vehicles and 178 used vehicles. Average seller cash flow during 2015-18 was $230K/annually.

FINANCING AVAILABLE! This business has been lender pre-qualified for up to 85% financing to qualified candidates. See term sheet for additional details.

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Property Features and Assets:

The Ford facility is located in the heart of the community in close proximity to both downtown businesses and a major NC State highway. The 10,090 square foot facility is situated on just over 2 acres of land and includes a service department with 6 work bays and 1 clean-up stall, parts department, business office and 2 salesperson write-up/closing offices and 1 executive office. The building was constructed in 1977 and is available for purchase from the seller for $995,000 (lower than assessed value). Alternatively, the seller will entertain a long-term lease contract with renewal options for $7,500/month on a triple net lease. Assets= $375,000

Market Competition and Expansion:

This market has a low competitive automotive density with this business being the only local new vehicle franchise. There are several local used vehicle dealers as well as a NAPA Parts and Advance Auto Parts Store. The closest new vehicle dealer is 20 miles away and the second closest is 35 miles away. The local new vehicle industry runs at around 1,000 new units annually, which affords a new Ford vehicle sales expectancy of 137 units, or a 15.4% market share. Actual Ford registrations in the market for the last 12 months were 205 units (a 23.1% market share), indicating a strong bias for Ford product especially in the truck category (71% of total). Retail sales expectancy is running at 48.9%, or about 70 new units below guide, which indicates tremendous upside potential for incremental sales and profits in the new vehicle department. There is also excellent upside in fixed operations with service absorption running at 52.4% versus Group at 64.8%, Parts Sales per UIO at $351 (vs Group at $455), Service Sales per UIO at $164 (vs Group at $281). Body Shop per UIO at $71 exceeds Group at $48. While the dealership has demonstrated consistent, stable, and sustained profitability for a number of years, there is excellent growth potential when comparing present performance to group average performance levels. Major opportunities include: 1. Hiring and training additional sales personnel 2. Implementation of a more aggressive marketing plan, including internet 3. Hiring additional parts and service personnel 4. Finance and Insurance revenue opportunities 5. Used vehicle gross running only 61% of group average

Reason for Selling:

Owner is retiring from the business.

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 a franchise resale opportunity.

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