Industry Description

Auto Recovery

SIC

7389

Days Open

Year Established

1982

Hours of Operation

Years Owned

1982

Full-time Employees

1 + Owner

Part-time Employees

2

Other Notes

Hours/wk by Owner

40

Owners Duties

Fully Active

Skills / Licenses ReqÕd

Repossessor/Private Inv.

Training Offered / Cost

Owner will train

Non-Compete Terms

As necessary

Exec. Summary

This business is in the top 2 well-established recovery businesses in N. Nevada

Lease / Bldg. Info.

w/1.1 Acre fenced yard

Monthly Rent

$4,000

Lease Commenced

Seller Owns

Deposit

Lease Expires

TBD

Term & Option

Bldg./Area Description

Office/Warehouse/Yard

Square Footage

2,500 sq. ft. (600 office)

Seats, Pkg, Zoning, etc.

Reason for Sale

Financial Summary

Current Yr. Annual

2003 / Owner to Prove

2002 / Owner to Prove

Gross Revenue

As 2003

$308,246

$338,788

COGS

$0

$0

Rent / CAM

$48,000

$48,000

Payroll

$34,482

$34,482

Net Profit (before tax)

Discretionary Cash

$135,525 (Estimated)

$135,525

Expense Breakdown

Included in Sale

Assets

Liabilities

FF&E Included

$75,000

Lease Obligations

$0

Inventory Included

Debt Included

$0

Other Assets Included

Other Liabilities

$0

Working Capital (not incl)

Return on Sale Price

Asking Price

$340,000

Owner Financing/Terms

Owner will consider

Earnest Money Dep.

$10,000

Down Payment

Opportunity Summary

Headline

Northern Nevada Auto Recovery / Repossession Business

Summary

This Auto Recovery / Repossession business has successfully operated in Nevada for nearly 30 years. It generates approximately $340,000 in gross revenue, averaging 1,200 cases per year.  The sale includes approximately $75,000 in assets. This is a fantastic opportunity for someone already in the business, or a party seeking to enter the business.  A repossession license in Nevada, or transferable from another state will be required.  Otherwise, a licensed person will need to be represented. 

Facilities / Assets

Approximately $80,000 in total assets are included, including 3 trucks with towing units and sneaker wheels under the back bumpers; a car handling trailer and office equipment.

Competition

This business is one of the 2-3 well established recovery businesses in Northern Nevada

Growth Potential

At present, this firm services Northern Nevada (north of Goldfield, Nevada), and sometimes Lake Tahoe, California.  However, a new owner may seek to be more active in the Southern Nevada Market (working with many of the same financial institutions) or in Northern California (with the proper licensing).

Other