Business Description
Here's a chance to buy a legacy business that has been a pinnacle of the Boston auto sales community for the past few decades. High volume corner location, has about 120-ish cars in stock at any given time between the lot inventory and some in storage. Seller owns the property, and will be leased back. Ideal situation for someone with a passion for cars, but even those financially motivated Buyers can stand to gain from the expertise of the Seller and his willingness to stay on board for an extended period. Seller is willing to finance a portion of the purchase price (subject to negotiation) only because he knows what a cash cow this business can be. Has previously grossed over $2,000,000.00 a month and has the bank statements to back it up. Target is $3k profit per vehicle, and he pretty much hits the mark each one out the door. Upside exists for well capitalized Buyers seeking to double the net income or more to add buy-here pay here services, i.e. in-house financing. Seller has all the ideas but lacks the passion and so it's time to transition his enterprise to hungry owner operators. Presently over-staffed due to loyalty, Buyer should be prepared to take a consulting approach and trim the fat after change of possession, could be run as a husband and wife or father/son gig and have 7 employees and call it day easily. Ace Business Brokers NDA is required for exact business address to see the lot for yourself.
Additional Features
Facilities: AAA+ Location, high visibility, great accessibility for all customers and staff.
Competition: There’s some competitors, but this is a crown jewel of the Boston area.
Growth/Expansion: Needs to add in-house financing department to secure huge margins and enhance net profit.
Financing: If the price and deal structure is right.
Support/Training: As needed. Seller would be willing to explore long term employment situation so long as he is no longer responsible as a CEO type and day-to-day operations for example.
Reason Selling: Slow down, retirement eventually.
Ace Business Brokers NDA & Buyer Profile
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