Auto Glass & Services - Click for details

Listing ID

1192

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Location

Within 90 minutes of Halifax

Description

For over 25 years, this company has provided it's local community with a fine level of service, supporting mostly automobile glass requirements, with additional income streams coming from residential, auto accessories, and signage.

For someone with a keen sense of pride in workmanship and customer service, this very well established business is very well established with a wonderful reputation and history. Sellers are happy to assist with transition support however requested.

Included in the sale are 2 very good condition work vehicles, amongst all other equipment and furnishings.

Non-Franchised

Financial Information

Revenues have been growing year over year for the past 3 years. Fiscal year end February 28, 2019 reported $421k in revenues, with the average of the past 3 years being $404k.

Seller's Discretionary Earnings* have been solid, with the average over the past 3 years being $119k.

Inventory has averaged approximately $20k, which final amount would be in addition to the purchase price should the deal be done as an asset purchase. Should a share deal be done, the inventory would be calculated in a "Working Capital" adjustment, which is most often pegged at $0, which means you would also be acquiring a similar amount in trade payables.

Financing for a new buyer would typically require 25% - 35% down payment on the purchase and 35% equity requirement for the inventory, as a bank will provide 65% - 75%.

*Seller's discretionary earnings (SDE) are the pretax and pre-interest profits before non-cash expenses, owner benefits, one time investments, and any non-related income or expenses. In addition, SDI may require that expenses be adjusted if a new owner will necessarily need to take on a new expense.

Minimum Equity Required

$90,000

Real Estate

The lease on the building is $2k per month, which lease should be easily transferrable and extended for a longer duration if required. Very nice building in very good condition. Landlord is responsible for lot and building maintenance, property taxes, building insurance, and snow removal. Tenant responsible for utilities and general liability insurance.

Very good location in the current market place.

Price

$265,000 (assets) or $235,000 (shares)

Non Disclosure Agreement

I hereby acknowledge that information regarding the following business(es) and/or Seller(s) is being provided to me in SECRECY AND CONFIDENCE and is to be used solely for the purpose of assessing the prospective purchase of the business(es) through Gateway Business Brokers.

I agree not to disclose any of the information given in connection herewith, either directly or indirectly, to third parties, except direct support people; nor will I use, or assist others to use, any such information for competitive trade purposes or to circumvent Gateway Business Brokers in any transaction or contact with the seller(s). I agree not to make copies of any of the material provided and to return all of it if I discontinue interest in the Business. The material and information furnished is believed to be reliable for the purpose of evaluating the Business. Further, I agree that all inquiries, investigations, negotiations, offers to purchase, and/or letters of intent must be made through Gateway Business Brokers. I agree to protect and not disclose the confidentiality of the information I receive permanently, even if I choose not to purchase the said business.

I agree that any breach of this Non-Disclosure Agreement (the "Agreement"), directly or indirectly, will be harmful to the Seller(s) and Gateway Business Brokers. In consideration for the information given, I agree that the laws of Nova Scotia will govern this Agreement and that all actions that may arise in law and/or equity shall be brought in Nova Scotia.

It is understood that this Agreement also applies to any information previously supplied by Gateway Business Brokers, verbally or in writing. I understand that neither the Seller(s), the Business(es), its officers, directors, employees, nor Gateway Business Brokers ,shall have any liability as a result of furnishing me the material included in this Agreement.

This agreement also acknowledges that the undersigned Buyer(s) has (have) been advised that Gateway Business Brokers provides Client representation for the seller(s) and Customer representation for the buyer(s) in this transaction, as per the terms that have or will be provided. I agree that should I buy, lease or come into possession of the Business, in whole or part, during the listing term or within 1 year from the expiry date of the listing term, Gateway Business Brokers’ right to a fee, as per Gateway Business Brokers’ agreement with the Seller(s), will be deemed earned. I understand I will be personally liable for payment of any applicable fees, as so reasonably determined, if I breach any clause of this agreement. It is agreed, however, that if a purchase is completed with the assistance available from Gateway Business Brokers, I am not liable for a fee.

Non-Disclosure Agreement