Highly successful business opportunity for this lucrative retail auto parts and repair center located in an active urban commercial area of Northern New Jersey and in the county of Hudson. This retail company offers quality products from Continental, General and Toyo and wonderful service to its many customers. Their service department specializes in performance parts, tire installation and diagnostics for their many customers. Since 2000, this auto sports retail shop has been providing top quality auto parts to the public and Supply Stores. The business sells tires, rims, wheels and specialized performance accessories to the general public. The company is long established and a well-known parts provider in the auto industry. The business also offers a full service menu of auto repairs with a substantial markup for the current owner. Tire & Rim Parts sales account for 35% of the business, general auto repairs account for 65% retail sales represents the remaining income. This business produces yearly sales of $1,000,000 and a $150,000 consistent net income to the owner. The present owner is relocating and will provide financing to a qualified purchaser with an appropriate down payment. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a 33% investment return to the owner operator prior to debt service. The business is located in a densely populated urban area of Hudson County, New Jersey with a substantial demand for this particular service. The facility is on a commercial avenue which consists of 4,000 square feet with rear parking. The entrance is a showroom for tires, rims and wheels and the rear is a large garage for repair. The garage is fully equipped with 3 lifts and alignment equipment and all equipment in the business is in excellent working condition. The facility square footage is 4,000 on the main floor with an interior capacity for five vehicles and a basement for storage. The business assets has an estimated value of approximately $175,000 based on replacement cost and the sale includes auto lifts and equipment including a POS system, displays, counters and various auto repair equipment that is required for this industry. This business has eight employees who are unaware of the pending sale and expected to remain post-closing, monthly payroll is approximately $10,500. The general location has municipal parking and private parking is available on the site and part of the lease agreement. The business is operational six days weekly, closed Sunday and the hours are from 8:00 am to 6:00 pm. The business has a municipal certificate of occupancy to conduct auto sales and repairs at this business location. The seller will supply a five year, five miles non-compete agreement and no other auto store and repair business is nearby this business facility. With an improved marketing plan and internet sales, the business can experience an increase of the gross sales. The owner is relocating into an alternative industry out of the area and will supply a non-compete to the buyer. The seller will remain post closing and supply a full transitional period. The business has an assignable commercial lease which expires 2024-01-01 with a monthly rent of $3,300, cost per square foot is $10.00 and rent security $6,400.
Asking Price $345,000
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