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| Highly Profitable Sherman Oaks Automotive Repair | |
| Industry Description |
Automotive Repair |
SIC |
7538 |
| Days Open |
51 Hours per week |
Year Established |
1960s |
| Hours of Operation |
M-F 8-5; Sat 8-2 |
Years Owned |
|
| Full-time Employees |
1 |
Part-time Employees |
1 |
| Other Notes |
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| Hours/wk by Owner |
40 Hrs/wk |
Owners Duties |
Management & Repair |
| Skills / Licenses ReqĠd |
Training Offered / Cost |
1 Month at 40 hrs/wk |
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| Non-Compete Terms |
5 Years / 10 Miles |
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| Exec. Summary |
Foreign and Domestic Brakes, Shocks, Tires, Electric, A/C and Smog |
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| Lease / Bldg. Info. |
Busy Street Corner |
Monthly Rent |
$4,450 |
| Lease Commenced |
New lease w/purchase |
Deposit |
|
| Lease Expires |
TBD |
Term & Option |
5 Year lease for buyer |
| Bldg./Area Description |
Square Footage |
2,600 |
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| Seats, Pkg, Zoning, etc. |
5 lifts in 3 double bays; garage fits 7 vehicles; Has parking lot and street parking |
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| Reason for Sale |
Retirement |
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| Financial Summary |
Current Yr. Annual |
2003 / Owner to Prove |
2002 / Owner to Prove |
| Gross Revenue |
$450,000 (Estimate) |
$340,000 |
$420,000 |
| COGS |
$247,000 |
$260,000 |
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| Rent / CAM |
$54,000 |
$54,000 |
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| Payroll |
$49,000 |
$61,000 |
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| Net Profit (before tax) |
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| Discretionary Cash |
$85,000 (Estimate) |
$85,000 (Estimate) |
$85,000 (Estimate) |
| Expense Breakdown |
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| Included in Sale |
Assets |
Liabilities |
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| FF&E Included |
$45,000 - $65,000 (Est.) |
Lease Obligations |
$0 |
| Inventory Included |
$10,000 (Est.) |
Debt Included |
$0 |
| Other Assets Included |
Other Liabilities |
$0 |
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| Working Capital (not incl) |
Return on Sale Price |
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| Asking Price |
$145,000 |
Owner Financing/Terms |
Not Offered |
| Earnest Money Dep. |
$10,000 |
Down Payment |
n/a |
| Opportunity Summary |
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Headline |
Must See - Sherman Oaks Auto Repair Shop with Smog Great Location! |
| Summary |
This business presents a new owner a great opportunity to take over a fantastic location that has been an auto repair anchor in the Sherman Oaks community since the 1960s. The company currently caters to both foreign and domestic autos, providing brake, shock, tire, electric and air conditioning service and repair. The business is also fully outfitted to provide smog service. |
| Facilities / Assets |
The business operates on a very busy street corner near a major intersection of two high traffic streets and the expressway. It is housed in a 2,600 square foot building accommodating 7 vehicles with 5 lifts. The sale includes all inventory, tools and equipment, valued at least $45,000, and up to $65,000. Historic rent has been at $4,500 per month, however, a lease (expected to be under similar terms) will need to be completed upon transition. Assets Include 5 lifts, Smog Machine Bar 97 and Dyno, Smog Machine 90 and Scope, Smog Electric Tools, Engine Jack, Transmission Jack, Battery Charger, 3 Smog Electric Tools, 3 Stand Holders, Balance Machine, Tire Machine, Brake Machine for Rotors and Drums, Repair Books, R-12 Air Conditioner Machine, Battery Tester, Press Spring for Struts, Brake Cleaner (rental), Parts Cleaner (rental), all inventory. |
| Competition |
Competition is moderate, however, this is an incumbent location. |
| Growth Potential |
At present, only the owner, and one full time and one part time mechanic are operating out of the location. Enough space exists to add mechanics, offer additional services, and / or extend the hours of the operation. |
| Other |
This owner is highly motivated. |