New Lower Price! Denver National Franchise for Oil Changes, Air Filter Changes, Fluid Refills, Tires, Brakes, Headlight Replacements and Batteries
Update: The owner wants to move to take a trip to Europe and move to Florida as soon as the business is sold and the transition is complete. As of 4 1 21, he has agreed to lower the price from $565K to $540K. He prefers to do this before mid summer and has decided to offer a 5% discount to any buyer who doesn’t need a bank and/or can close on the business by May 1st. He will also carry up to 20% for a cash buyer who doesn’t need a bank compared to the 10% for buyers who do need a bank.
Great location for a location driven business: High traffic 4 lane road East of Downtown Denver
This company grew 6% in adjusted earnings in 2020 even though traffic in Denver was down over 10% in 2020 compared to 2019. This was mostly because of the stay at home order from mid-March to late May in Denver. 2020’s revenues were 679,960 with adjusted earnings of 218,473. Location driven business typically carry a high multiple because they don’t change the day after the closing. This is priced at only 2.4 times the adjusted earnings at 540K plus a small amount of inventory.
This Franchise offers oil changes, air filter changes, fluid refills, tires, brakes, windshield wipers, headlight replacements, and batteries. 70% of their business comes from the maintenance shop which has the two bays with the lube shop. Oil changes, all fluid changes, cabin filters , air filters. power steering flush’s, coolant flush’s, transmission flush’s, brake flush’s, differential’s fluid change, transfer case fluid change, fuel system cleaning, headlight restorations, wiper blades, and headlight replacement. 15% brakes, 5% air conditioning, 5% tires, 5% is the rest from the separate 3 bay shop. The shop has two above ground two post lifts with up to 10,000 pounds of lift and the third bay has a 12,000 pound above ground 4 post alignment lift. The shop also has one hunter balancer and one hunter tire machine. The buyer will get 64,761 in current value of equipment, tools, lifts, etc.
The owner only works 15 hours a week. He typically works on Mondays and Fridays and works the “front of the shop” behind the counter meeting new customers and doesn’t do any of the manual labor.
This Franchise location has a 4.6 Star Rating on Google with 147 reviews which is excellent plus an A+ rating by the BBB. This is very important to the new buyer and takes years to establish.
The sales price has been lowered to 540K plus inventory which is estimated to be 10K. This business will qualify for an SBA bank loan and the SBA will pay the first 6 months of payments (5% of the purchase price) and is waiving their 2.5% upfront fee also. A bank will only require 10% to 15% matching from a qualified buyer meaning a buyer may qualify to buy this business with only 100K in liquidity.