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Business for Sale Summary

Transportation Business for Sale in NJ - 33229

Business Type: passenger transportation / limo/ bus companies,seller financing available,passenger transportation / ambulette
Owner Financing
Transportation Business for Sale in NJ
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Financial Information (non-confidential)

General Information
Asking Price $500,000 Down Payment $300,000
Gross Revenues $910,000 Lease Remaining Register Free to View
Owner’s Cash Flow $200,000 Number of FT Employees Register Free to View

Financing

$300,000 Down and $200,000 over 24 mos

Business Description

Headquartered in Passaic County, New Jersey and serving Essex, Union, Passaic and Bergen Counties, this twelve -year- old, non-emergency medical transportation company has become available. Under contract with the state regulatory authorities, this company transports ambulatory Medicaid patients to and from their residences and their treatment facilities. Service is provided by ten-owned company minivans all in working condition. In addition, this company employs two independent sub-contractors who provide additional transportation services to NJ State Medicaid patients on behalf of the company. This is a high volume, high margin company whose sales have grown since inception. This is a turnkey operation staffed by nine full-time drivers, one bookkeeper/patient care customer service rep. and two dispatchers. One principal is active in the business and the other has full-time employment elsewhere and works limited hours. One of the owners will stay if desired. The Asking Price is based on an annualized revenue stream of Logisticare payments in the amount of $35,000 every other week. If the payments reach $45,000 every other week by the time of Closing, then the Purchase Price will increase to $565,000 and the down payment portion of the price will increase to $365,000. For more information, call Gerald Nimberg, Senior Business Broker, Vested Business Brokers, at 646-269-4616.

Attention Business Owners: We are always in search of quality businesses to list, so if you are thinking of selling your business or would like to acquire another business, please email us at listingmanager@vestedbb.com or call us at 1-877-735-5224 to discover the difference that is Vested Business Brokers.

Disclaimer: The financial information in this business listing has been provided by the Seller. Vested Business Brokers, Ltd. (VBB) has not independently verified this information. Therefore, we make no claims as to the accuracy of this financial summary. Vested recommends that you consult with an accountant, attorney and/or other professionals to represent and assist you in any business transaction. One of our associate brokers will arrange a meeting between you, your representatives, and the Seller, but they are not authorized to make any representations or warranties on behalf of the seller or VBB. You agree to hold Vested Business Brokers and its associated brokers harmless for any misrepresentations made by seller.