Business For Sale Listing 153359
Used Car Dealership w/On-Site Credit Franchise
Status as of Dec-1-2008 at 06:00 PM: Active
Business Summary
Business is located in the Durant, OK area (1 hour away from north Dallas) and is situated on a busy highway with frontage and access. This is the only lot in the area that can offer on-site financing with immediate approval through a credit acceptance franchise which is included in the package (you don't assume any of the risk). The lot has room for at least 50 cars behind a gated fenced lot for security. The office building has three offices and a reception/common area, and has a two bay garage in back for maintenance and detail work. An additional building on back of lot has four large open bays and a large enclosed garage that is currently sub-leased. The business currently has over $350,000 in outstanding a/r's that will pay out over the next 4-5 years and are included in the sale. The current owner obtains all of his cars through a wholesaler who also provides floor plan credit financing. The owner paid over $81,000 in wholesaler up-charges and $37,250 in floor plan charges. A new owner purchasing cars through auction himself would save over $80,000 in cost of sales expenses. The business can be relocated and the credit acceptance franchise can be applied to another car lot.
General information
Facilities: leased facility with multiple acres of land and two large office and storage buildings. Entire lot is fenced and gated for security.
Competition: minimal competition in the immediate area and this is the only one offering on-site financing. The credit acceptance franchise can also be applied to other dealerships if the new owner wants to expand or relocate.
Growth and expansion: currently they do minimal advertising or marketing so active advertising should pay big dividends in increased business. New owner should also purchase inventory directly from auctions instead of using a wholesaler as they currently do saving over $80,000 annually in costs.
Support/training: owner will provide up to 30 days training and support.
Categories
Industry
Location
Financials
| Sales: |
Between $500 Thousand And $1 Million ($509,640) |
| Profits: |
Under $100 Thousand ($89,647) |
| Profit Type: |
Net Income |
| Fiscal Year: |
2007 |
| Asking Price: |
Between $100 Thousand and $500 Thousand ($250,000) |
