Financing: $2,000,000.00 Down and Possible terms for a well qualified buyer.
Reason for Selling:Retirement.
This is a 38-year-old niche internet-based motor vehicle dealer specializing in a segment of the industry with very high margins. Gross profit per sale averages $12,000 or more. Almost 90% of the business is developed from our websites and social media leads with a significant repeat business component. More than 75% of all vehicle sales are completed online or by telephone with end-users and other dealers from all over the country and beyond. The business has a New York dealer license valid for sales and purchases in all 50 states and beyond and is fully insured.
The business is operated with low overhead by a small staff from a comfortable and easily accessible office space on Long Island, NY. In addition to the owner, there are three key full-time employees and one part-time employee. All would be willing to stay with a new owner as long as they are treated fairly. The owner would also be willing to stay on for a sufficient training and transition period and as a salesperson, purchasing agent, or consultant thereafter. In 2022, the business had gross sales of over $2,600,000 with an owner's cash flow of over $780,000. This was a significant increase over 2021, a great bounce-back year after the pandemic. Financial and sales results for 2023 exceed all prior years and these figures have been professionally CPA vetted. With new vehicles being scarce due to supply chain issues and good used vehicles extremely hard to find in the USA, this business has done even better in 2023 as we have increased our profit per unit and market share. All sales are well-documented, as all vehicle sales must be registered with the NY State Department of Motor Vehicles and have been forensically examined. The business is in excellent financial condition and has substantial room for growth. There is potential to add vehicle financing, extended warranty sales, expand the volume of vehicles for sale, and additional accessory sales. The asking price for the business is $2 million. We seek a serious and financially qualified buyer with at least $1,675,000 in liquid funds ($1,400,000 to cover the down payment, plus an additional $400,000 /- for the current inventory). The owner will stay on for at least three months as a mentor. A qualified buyer can obtain vehicle financing for the inventory against the vehicle titles if needed. You do not need a motor vehicle sales background since the Operations and Office Manager and staff have handled thousands of sales and purchases over the last several years, however, a financial or internet sales background would be a plus. All meetings must be scheduled by appointment only after providing proof of liquid funds. To learn more, please call, text or email Mel Vaz today on 631-767-0157 or email@example.com.
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