Details - Information last confirmed on November 5, 2020
Generating over $2M in revenue, this Ontario-based business provides towing and recovery services for roadside companies, law enforcement agencies, municipal fleets, public vehicles, emergency vehicles, and local individuals. They also provide expert automotive repairs including brakes, steering, engine diagnostics, and heavy truck repairs. The 17-person team includes 7 full-time drivers, 5 part-time drivers, an office manager, a dispatcher, a part-time bookkeeper, and a payroll clerk. The current owner commissions for towing jobs and handles high-level management functions, he is not doing any of the labor or driving.
This business is well-placed to dominate its market, and growth opportunities include increased marketing and opening a new location to expand market coverage. There is over $500K worth of equipment that would be included in the sale. Based on a four-year average and a 3.8 multiple, the owner is willing to finance up to 20%.
Most of their revenue comes from long-term contracts with roadside service companies and referrals from local law enforcement agencies. The largest towing customer operates on negotiated three-year contracts and they have been a loyal customer for over 21 years. Their website and word-of-mouth advertising from loyal and long-standing clientele help them obtain new clients on a regular basis.
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