Price: $600,000
Location: Metro Detroit area
Industry: Automotive and Boat
Listing ID: 40730465
Listing Status: New
The business operates a car rental service operating in the Detroit metro area. The business provides a variety of vehicles, offering clean, safe convenient vehicles at an affordable price point. The business is in its fourth year of operation and has seen growth to 50+ vehicles (largely financed through internal cash flow). Much of the initial hard work has been done including setting up a facility, hiring employees, purchasing vehicles, setting up relationships for vehicle maintenance. The business operates through a third party reservation system which has worked really well. A great business for a car person or an entrepreneur looking for that next opportunity.
The listing price includes vehicle inventory which will be adjusted to a current market value at closing as agreed between buyer and seller. We work with a number of banks and Small Business Administration (SBA) lenders. A signed non-disclosure is required as well as proof of financial capability.
Down Payment: $230,000
Total Sales: $642,482
Cash Flow: $300,000
EBIT: N/A
EBITDA: N/A
Accounts Receivable: N/A
FFE: $550,000
FFE Included: No
Inventory: N/A
Year Established: 2022
Non-Owner Payroll: N/A
Employees: 6
Managers: 1
Real Estate: N/A
Monthly Rent: N/A
Franchise: No
Facilities Information: The business operates out of leased facilities at an annual rent of $65,000 which includes parking, a customer lounge and car wash.
Reason For Sale: The owner is involved in a new venture which is taking up time.
Training & Support: The owner has grown the business by trial and error and has developed strategies for vehicle acquisition, cleaning, maintenance and vehicle turnaround, and the reservation system, which he will train a new owner in.
Competition: Obviously there is competition from the major car rental companies. But this business operates in a niche of providing well-maintained higher mileage vehicles at convenient locations in a major urban area.