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Profitable Classic Corvette Dealership with International Clientele
TNListing DetailsOffice ID: VETTE1
Status: Sold
Listing Broker: Michael Fekkes, CBI, CEPA
Listing Price: $450,000
Gross Revenue: $2,878,396
Cash Flow: $304,656
Forecasted Cash Flow: $215,118
Inventory: $500,000
Inventory Included: No
FF&E: $20,000
FF&E Included: Yes
Sale Price: $450,000
Real Estate Included: No
Sales Structure: Asset Sale
Seller Financing: No
Financing/Terms:
Price has been reduced. There are approximately $500k of corvettes in inventory that are not included in the sales price. A floor plan arrangement is available through a local bank.
Reason for Sale:
Retirement
Training:
Owners are committed to fully train the buyer to successfully manage all aspects of the business.
OperationsYear Established: 2004
Form of Ownership: LLC
Managers: 2
Business Hours: Mon-Fri, 10am - 5pm
Summary
Business Description:
Vintage Vettes (www.vintagevettes.net) is an 11 year old corvette reseller that specializes in “driver quality” vettes from 1953 to 1962 (C1 series). They have established an international network that drives the sale of approximately 50 cars a year. While business operations and their showroom are located in Murfreesboro, TN, a large component of the operation is web-based where a future owner could conduct a majority of the operations from a home office. This is a wonderful “lifestyle” business that does not require a lot of employees to run, provides flexible hours, and is truly fun to operate.
Historical Summary:
The business was founded in 2004 as a Partnership by two brothers who currently own and manage the enterprise. The business has a successful track record of profitability. Over the last forty years, the owners have established a strong network around the world allowing them to do business in twenty countries. Their business network provides solutions to cover all operational aspects; whether that involves obtaining replacement parts, having vehicle maintenance performed, cars detailed, or the transportation of vehicles around the globe.
Owner Qualifications:
Buyer does not need to have extensive car experience to be successful with this business. No mechanical background is required. The current owners have developed an excellent organization containing policy and procedures that will provide the operational framework to the new owner. The buyer should have an appreciation for classic cars and a basic understanding of motorized vehicles. Additionally, the buyer will need to either have the ability to obtain a line of credit or have cash reserves to replenish the car inventory.
Potential Growth:
There is a clear path to grow and scale the business. These will be discussed in detail with qualified buyers.
LocationType of Location: Strip Center
Option: 5 Year
Monthly Rent: $4,000
Square Footage: 4800
Facilities:
The business is located off of Memorial Blvd. in Murfreesboro, TN, a very busy and high traffic boulevard. The Sellers own the building which houses both the Vintage Vettes business (located on the first level) as well as another tenant who leases 4,800sqft of space on the second level. The Vintage Vette’s facility is split into two sections. The first section (2,400sqft) is where the office and parts inventory is located with the second 2,400sqft section housing the car showroom. There is a convenient roll-up door which creates an efficient operation for moving vehicles in and out of the showroom. The business is open from 10am to 5pm Monday through Friday. Private showings are often arranged by appointment as most of their clientele will be traveling from either out of state or from outside the country. Many vehicles are sold over the phone and over the web without the buyer physically seeing the automobile.
Last Updated: Aug 31, 2016 / 1:25 PM
Financial Information Current as of: Jul 16, 2015 / 9:48 AM
Lender Pre-Approved!
Diamond Financial