The business is an auto body repair shop approximately 40 miles east of Stockton and Sacramento, California in the Sierra Foothills. It is located in one of the jewel-like goldmining cities in the heart of the Gold Country. The business has been in existence for over 40 years and has been family run. The 3,050 sq. ft. free-standing shop is on a 1/5th of an acre and is to be included with the sale of the business. The shop is impeccably neat and well maintained and is on the main highway in the county with excellent visibility. The company relies on its long-term history and word-of-mouth for its source of business. It does not need to advertise, nor does not have any Direct Repair Program commitments with insurance companies.
The Seller's Discretionary Earnings has been recast to reflect a $31,500 potential loan payment the buyer might pay for a mortgage on the real estate. (In other words, the $83,000 SDE is the net after paying the mortgage payment.)
During the last five years the two owners have run the business by themselves with no employees. The Seller's Discretionary Earnings has been recast to reflect the likelihood that a single buyer will hire an employee to replace the existing second owner at a total cost of $65,000. Hence, if the buyer were a two-man partnership, they would replace the present two owners and SDE for the partnership would be $148,000 ($83,000 + $65,000).
All permits and Environmental Health requirements are met, and paint booths are up to code and have passed recent annual inspections.
This is a total turn-key operation just waiting for one or two owner/mechanics to step in and start making a good living from day one in a beautiful rural community. You will never have to rent to pay a landlord again, because you will also own the real estate, for an additional $400,000.