Profitable,Scalable,Recession Finance&Auto Biz

Not Disclosed, NC
Wake County

Asking Price: Annual Revenue:
$395,500 $1,917,464

Automotive & Boats: Dealerships - Auto, Truck, Motorcycle

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RE: Profitable,Scalable,Recession Finance&Auto Biz Broker: Don Emmett
Owner Financing is Available!
$39,600 down/$39,500 for 36 mos. @ 8%

Quick Facts

Asking Price: $395,500
Annual Revenue: $1,917,464
Net Profit: Not Disclosed
Cash Flow: $261,895
Total Debt: Not Disclosed
FF&E: $500
Real Estate: Not Disclosed
Year Established: 2008
Employees: 12
BBN Listing #: 50254955
Broker Reference #: 1310-14330

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Business Overview:

Turn-Key Opportunity! Positive cash flow from day one! This is an established (11 years) auto sales and finance company. It is an amazing opportunity to learn and prosper in the Auto sales and Finance Business. This tremendously profitable car and finance company, engages in the sales and financing of pre-owned automobiles and includes the current loan portfolio (Buy Here, Pay Here program). The price includes a proven business model, the “Buy Here Pay Here” Loan program, a loan portfolio (approx. $128,000, producing approx. $14,500/month in cash flow) and auto inventory (approx. $35,000). The business focuses on buying and selling a variety of in demand & below market vehicles (retailing for $3,000 to $8,000) that are available for cash purchase or on loan from the “in-house” financing program (at 29% interest!). The "Buy Here-Pay Here" program utilizes a GPS unit with an ignition shut-off feature to virtually eliminate delinquencies and defaults. The business sells vehicles that are optimal for family/personal car needs and/or for daily utility use. The company has an eleven year history of servicing this mostly ignored market niche, has generated many repeat customers that come back year after year, car after car, to upgrade. The company has a well-trained staff and manager in place. This is a tremendous opportunity to borrow capital at market rates (8%) buy Inventory, then Sell the Inventory for cash or to lend/finance at 29% interest!

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Property Features and Assets:

The business is located in a booming Research Triangle Town. The business' retail vehicles are located on a paved and gravel lot with a brick building containing space for 3 to 4 associates. The property measures 0.7 acres in total. The rent is $950/month! The current use is "grandfathered" in, (Increasing barriers to entry). The Current owner chooses to keep approximately 20 vehicles on the lot, which has room for up to 50 if desired. Assets= $163,500

Market Competition and Expansion:

The Industry is in strong growth mode. As the price of new cars continues to skyrocket, these "affordable" and financeable vehicles are increasingly a necessity with little to no public transportation in the area. There are two similar businesses in the area, however customers are acquired via the internet and from 10 years of satisfied customers making repeat buys. Competition is for eyeballs online, less so, by similar nearby businesses. The Seller is a natural "Coach" that has been in the Auto business 30+ years, and looks forward to "coaching" the buyer in the "Art & Science" of the "pre-owned" auto sales business! This business model is extremely scalable and replicable. Growth can come by increasing the inventory and carrying more vehicles on the retail lot.. Also, this business model could easily be duplicated in many areas around the Triangle and the state. New owner could also increase “curb appeal” by touching up cosmetic factors on the lot such as better lighting and landscaping.

Reason for Selling:

The business owner is nearing retirement.

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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