To facilitate the owner's desire for a retirement during 2019, this business is offered at an amazingly low price. Priority will be given to those buyers who act expeditiously and decisively. Seller financing available.
In business for ten years, this business has been growing rapidly over the last several years to become one of the largest and most respected private ground passenger transportation providers in northern California. Its competent professional management will continue to grow the business long after the owner/founder begins a well-earned retirement. This will assure a smooth and seamless transition and transfer of ownership. Serving the entire San Francisco Bay Area, Napa Valley, and beyond. The ownership can be semi-absentee.
The company provides vehicles and drivers for party buses, wine tours, Lake Tahoe day trips, brewery tours, holiday parties, airport transfer, hotel courtesy shuttles, prom nights, wedding events, corporate shuttles, sporting events, concerts & festivals, convention shuttles, 'last mile' public transit shuttles, vanpools, on-demand car service; basically, every kind of limo hire and bus charter.
The current and pending recurring customers include some of the biggest corporate names in the world.
Sales history: 2014 $889,000; 2015 $1,155,000; 2016 $1,323,000; 2017 $2,020,000; 2018 is on target to exceed $2,200,000 in sales.
Seller's Discretionary Earnings Approximately $273,000. Very accurate and complete financial data is available for serious buyers upon signing the NDA and speaking with the seller and broker.
Tangible assets include all vehicles, all in excellent condition and several 2 years old or newer: Executive Limos, SUV Limos, Lincoln MKTs, Stretch Limos, Mercedes Sprinter Buses, Luxury Limo Buses, Executive Buses, Motor Coaches. Plus office and garage equipment, furniture, software, etc. Seller estimates the fair market replacement value of the vehicles to be approximately $1,100,000. With all other equipment, computers, furniture, software, etc., Seller estimates the total fair market value of all tangible assets to be approximately $1,200,000.
Employees, both drivers and support staff, are highly trained, experienced, screened, reliable, and loyal.
The Transaction: The asking price for the business is $499,000 (less than 25% of annual gross sales). This is for the entire business, including all related intangible assets, employment relationships, customer contracts, database, intellectual property. It does not include cash, accounts payable, or accounts receivable, or physical/tangible assets (e.g., vehicles).
Vehicles (& other tangible assets): The buyer may acquire as many of the vehicles (& other tangible assets) as desired at fair market value. The buyer is not required to purchase all (or any of) the vehicles if not wanted. Vehicles will be transferred to the buyer free of any liens or encumbrances.
Financing: Substantial seller &/or third-party financing may be available to a qualified buyer.
For personal reasons, the owner desires a quick transaction and has priced the business at a relatively low price accordingly. He expects that the transaction will involve a 4-month transition during which he would work on a regular basis with the new owner, after which he will retire by summer of 2019.
Note: All data for this business provided by the Seller for information purposes only, and no representations are made by the Broker as to accuracy. The Broker has made NO independent verification of the data contained herein. The Broker represents the Seller and does NOT represent the Buyer. The Buyer is advised to perform independent due diligence and seek the advice of professionals prior to purchasing the Business.