Description

Highly successful auto quick lube business with limited repairs, a gross yearly income of $979,000 and a verifiable net yearly income of $293,600 as an on onsite owner operator. The sale will include the business and all the assets which is based on fair market value. This twenty-year-old, six-day business operation (closed Sunday) is located in an urban city and on an active county road in Bergen County, New Jersey. The business consistently services approximately four hundred and twenty-five (425) vehicles weekly. The facility consists of two large bays, lots of storage, with a modern office and an attractive clean customer wait area. The owner has an alternative business out of the county and has elected to reduce his work responsibility. The company is one of the oldest privately-owned oil change company in New Jersey founded in 1998, and has performed hundreds of thousands of oil changes by filling the gap formerly occupied by full-service gas stations and backyard mechanics. The company is also helping people in New Jersey to keep their cars and trucks longer with improved quality service. The shop is dedicated to protecting the environment and is part of a growing community dedicated to making New Jersey safe. The business assets have an estimated value of $220,000 and the sale consists of a fully equipped commercial business, which includes two lifts, displays, shelving, various hand tools, POS system, tables, computers, software including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. This business has three full time and one-part time employee who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $18,200. The sale will include a fifteen-year commercial lease which expires 2031-01-01 plus two additional five year options, with a monthly rent of $7,950 and rent security $10,000. The facility has appropriate private parking on site for approximately fifteen vehicles as part of the lease agreement. The business is active six days per week, with hours from 7:00 am to 7:00 pm. The sale includes a certificate of occupancy from the particular municipality and the required city licenses to conduct business at this commercial location. Based on the asking price, required down payment and yearly net income, this business expect to supply a highly dependable and consistent investment return to the owner operator prior to debt service. The 2015 yearly gross income is $979,000 and the business has a yearly net income of $293,600 based on an owner operator and prior to debt service. The business has been valued based on a multiple of the net yearly income, including the value of the specific business assets and bank & seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.

Posted Oct 12, 2016

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