AUTO TOWING & AUTO BODY. AUTO275

Price: $595,000 Location: Hudson County, New Jersey Industry: Automotive Listing ID: AUTO275 Fantastic opportunity for a fifty-year-old successful urban Towing and auto body company in a highly popular area of Jersey City Hudson County New Jersey. The owner is now retiring after forty years of consistent income. The company has valuable towing approvals-licenses with various municipal and county governments which are irreplaceable. They are an I-CAR Gold Class Shop and AAA Certified Repair Facility. The company has valuable relationships with insurance company’s which refer much of the service. The towing company also has the appropriate licenses to conduct business. The company has a yearly gross income of $994,748. This company offers top-notch towing services and auto body repair. They understand that unexpected breakdowns and accidents can happen at any time, which is why we offer 24/7 emergency towing services to ensure their customers the best of service. Their experienced and skilled tow truck drivers are equipped with the latest technology and equipment to ensure that your vehicle is towed safely and securely to its destination. In addition to towing services, they also offer roadside assistance to help you get back on the road quickly. Contact us today to learn more about this exciting business opportunity. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. The 2023 yearly gross income as represented by the owner is estimated at $994,748 and the business has a consistent yearly net income based on an onsite owner operator which includes any seller discretionary income and prior to any debt service. The gross sales represent auto body, and the towing has been stopped due to the owner’s desire to retire, however additional towing is available to the purchaser. A formal due diligence is recommended by broker. Listing Details Revenue: $994,747 Cash Flow: $149,999 FFE: $375,000 (Included in Price) Inventory: $10,000 Form of Ownership: LLC Reason For Sale: The purpose of this business transaction is due to the owner retirement after many years of success in this particular industry. Training & Support: Training and owner support, the owner is fully prepared to remain post-closing and will supply an appropriate transitional period to purchaser. Operation Year Established: 1970 Days & Hours of Operation: Days Hours of operation; this business is active five- & one-half days per week, closed Sunday with hours from 8:00 am to 5:30 pm. Owner Hours Per Week: Full Time Employees: Regarding employees and payroll; this auto body and towing company consist of eight employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, and weekly base salary, and the staff is fully expected to remain post-closing. Location Security on Lease: Two Months Lease Option: Yes, Available Monthly Rent: 18,500 Type of Location: Commercial active highway Square Footage: 9,200 Relocatable?: Yes Facilities Information: This business opportunity is in north central New Jersey, Hudson County on a highly active county road. This business facility consists of approximately 6,200 square feet with a professional appearance. The business is in a free-standing retail facility conveniently location for its various customers. This Auto Body and Towing company operates out of a central facility where they store their equipment and vehicles. This facility also serves as a base for dispatching tow trucks to customer locations. Additionally, towing companies have impounded lots where they store vehicles that have been towed. Summary Historical Summary: This is a forty-year-old full-service Licenses Auto Body and Towing company. Owner Qualifications: For Qualifications purposes; this business opportunity requires specific government licensing approval to operate in addition to the standard required municipal licenses. Competition: Regarding competition, to the best of our knowledge, no other new competitors are expected near to this business due to the unavailable restricted licenses. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser. Potential Growth: Regarding growth and expansion, the company can be further developed by accepting the demands for towing and improving the local advertising. Additionally, the company has a limited non-optimized web site and if adjusted can further develop the business yearly gross sales. Financing/Terms: Also, Owner financing is available for this transaction to a qualified buyer with an appropriate down payment, collateral, and credit rating.