Automotive / Auto Body Shop, Automotive / Painting/Touch Up
Full-service auto body and custom painting business in Southwest Virginia. Established in 2005, the Company is the largest and best-equipped shop in the area. It has built a solid reputation with drivers and insurance companies -- with approximately 90% of their business coming directly from insurance companies. Great location near interstate provides easy access to surrounding areas and the go-to shop for tow trucks responding to local accidents.
Lender pre-approved for qualified buyer with 10% down. Prime + 2.75%. 10-year term for business only, 14-year term for business and real estate. The seller's discretionary earnings includes a $31,000 charge for rent. The cash flow available to a buyer of the business and the Real Estate would be $425,000 based on the Last Twelve Months. Seller will finance up to 10% depending on terms and structure of overall offer and buyer qualifications.
The Company saw a slowdown in 2020 as fewer drivers on the road during shutdowns and stay-at-home guidance resulted in fewer drivers running into each other. Business has recovered well in 2021 and YTD 2022 SDE is 10% above 2021. 2021 revenue and SDE are shown without the benefit of approximately $110,000 of above-average sublet work, with sublet, the SDE would be approximately $504,000.