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Successful Charter Bus Transportation Service

The owner of a successful construction business thought it would be fun to start from scratch an unrelated enterprise. So, in early 2008, he founded a charter bus company with two Vanhool 57 busses and a MCI executive coach bus.

After investing well over $100,000 rebuilding all three busses, he then hired a general manager and several experienced and reliable drivers, and the business just took off. The new company has already reached the point where the space the charter bus company rents from the seller’s construction business is needed for that business. The solution: sell the business to a more involved buyer (seller is truly 100% absentee) who can (a) move the bus business to a new location and (b) take it to the next level.

Even before the charter bus season hits stride in the upper Midwest, this company has a backlog of confirmed, booked business exceeding $220,000 (vs. -0- at the same point in 2008). Annualized revenues for the past five months (including the seasonal slow winter months) have been running at a $500,000 clip, and the general manager is expecting total 2009 revenues approaching $1.0 million.

The business generated more than a $100,000 annualized cash flow (after paying a terrific, full time general manager) through the fall and winter months. The business is being offered for $895,000 which includes the three busses which have a combined fair market value of $555,000.

With a solid backlog, great equipment, an excellent general manager (who would like to stay on), and good drivers, this growing and nicely cash flowing business is ready for a new owner to help guide this company to the next level. Priced at less than 3.0x cash flow plus the busses, this business is an outstanding value. And, for an enthusiastic but undercapitalized buyer, the seller would consider carrying a meaningful seller note.