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Orange County, California
Asset Recovery Agency with Institutional Contracts-SBA Pre-Approved
Asking Price
$799,000
Revenue
$2,183,529
Down
Call/Email
Cash Flow
Call/Email
Description
A repo begins when the business is notified by a lender that a loan is in default and the vehicle needs to be recovered. The car is located using a variety of modern technology and their tow truck brings it back to the secured storage yard. Once repossessed, the staff parks the car on the lot, and bags and tags all the personal property into secured storage (up to 60 days). 40% of the cars are reclaimed by owners who become current on their debt; the other 60% are transported on behalf of the lender for auction or resale.
The industry is a high-margin business; each repossession has multiple profit centers. In addition to asset recovery, they also charge for vehicle and personal property storage, rekeying cars and pickup appointments. Occasionally vehicles and personal property go unclaimed by both lender and owner; they are sold for additional profit.
The business comes fully equipped. Major assets include one car with Clearplan cameras (for asset location), 5 tow trucks (1 flatbed, 2 also equipped with Clearplan cameras), a forklift with wheel lift attachment, office equipment, and much more. The business also comes well-staffed: 3 core drivers, a pool of independent drivers, an office manager, and a lot manager. Please note that the current yard/property storage location will have to be moved after the current lease expires; see Agent for details.
It’s time for the owner to semi-retire and focus on his other ventures; so he is looking for a successor to take this repo business to the next level. This is an extremely lucrative opportunity for either an existing repo company or an individual looking for a business with a solid foundation and multiple avenues for growth. The owner will stay for a transition period to transfer his institutional lender and dealership relationships. If this sounds like an opportunity for you, please reach out to the Agent today!
Business Details
Year Established:
2008
Employees:
6
FE&E:
250000
Reason for sale:
New Venture-Semi Retirement
Support & Training:
Owner will train, support and assist in the transfer of the state Repossession License
Property Information
Size in Square Feet:
14,000 sqft
Lease Terms:
New Lease Required: Current lease expires July 2027. M1 Zoned lot/yard required.
Lease & Tenant Information
Lease Options:
$13,356
Posting Information
Posting ID:
9365002
Business Category:
Automotive & Vehicle
Business Types:
Towing Service, Auto Towing
Keywords:
assets
repos
repossessions
auctions
banks
heavy
equipments
airplanes
boats
automobiles
dealerships
credit union
towing
parking
collateral
corporate
liquidationb
buy
commercials
lenders
cameras
bonds
nationwide
yards
lots
tows
Attributes:
Financial Assistance
Owner/Seller Financing
Relocatable
SBA Loan Pre-Qualified
Training And Support
Send NDA Request
Please complete the form below to request the NDA for this listing. The broker will review your request and send the NDA for you to sign.
Posting Title
Asset Recovery Agency with Institutional Contracts-SBA Pre-Approved
Posting ID
#9365002
Full Name (Required)
Email (Required)
Phone (Required)
NDA Signed Successfully!
Your NDA has been signed and submitted. The broker will review and countersign it. Once complete, you will receive access to confidential business details.
Agent, Broker or Seller Contact
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