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High Quality Personal Service Limousine Transportation Company
NCListing DetailsOffice ID: LIMO1
Status: Sold
Listing Broker: Jeff Snell, M&AMI, CBI, ABI
Listing Price: $259,000
Gross Revenue: $269,205
Cash Flow: $115,438
12 Month Forecast: $390,000
FF&E: $118,320
FF&E Included: Yes
Down Payment: $85,000
Sale Price: $175,000
Sales Structure: Asset Sale
Seller Financing: Yes
Seller will provide qualified buyers up to 10% seller financing in accordance with SBA lending guidelines.
Reason for Sale:
Owner is relocating to start same business concept out of state.
Owner is intent on seamless transition for clients and will provide one-on-one training on every aspect of business operations.
OperationsYear Established: 2008
Form of Ownership: S Corp
Employees (full-time): 1
Employees (contractors): 5
Managers: 1
Business Hours: 24/7/365
Business Description:
This private car/limousine service was established in 2008 and has built a reputation as a market leader known for high-quality, on-time service at the upper end of the pricing structure. The owners do not outsource reservations to insure that the customer service experience is top notch from beginning to end. The volume and quality of client reviews reflect their commitment to on-time service guarantees and their fleet of vehicles allows them to service almost any need, large or small, corporate or private. The company goes to market under three unique brands each of which maintain distinct modern and fully-functional web sites. The unique combination of geographic and targeted high-end markets minimizes seasonal revenue swings which impacts the traditional 'black car' corporate market. Company is the highest rated, most reviewed transportation company in the region and has been recognized as such on Google, Yelp, and has been the recipient of the Angie's List 'Super Service Provider' in both the Limousine and Airport & Event Shuttle categories. The company has successfully focused on the highest end of client engagements where clients value (and pay for) dependable service at a premium price point. This has in turn not only increased revenue and profit but also has created loyal, high-margin clientele from which to accelerate growth in underserved geographic markets. This is a turnkey business which would be attractive to a non-industry business person looking to grow an established profitable brand in a growth market or to an existing transportation provider to immediately add a highly profitable revenue stream to increase their current productivity.
Historical Summary:
Established in 2008 with steady growth year over year.
Owner Qualifications:
Must have a drivers license.
There are many choices for transportation in the Triangle area. This company provides premium service utilizing a premium vehicle fleet with loyal return customers.
Potential Growth:
Current fleet utilization due to the wide range of vehicle types offered averages 25%. Company's consistent and steady growth as well as it's online web dominance is a great foundation for sales into corporate accounts. Increased marketing and additional operators increase gross sales five fold without requiring additional capital investment. The company's penetration into both multiple client segments and geographic markets eliminates seasonal swings in business. In addition the company has capitalized on lucrative Pinehurst market as well as the region's military transportation segment. An ideal acquisition for black sedan or high-end transportation company locally or for those seeking to enter the rapidly growing Triangle marketplace.
LocationType of Location: Flex – Office
Real Estate for Sale: Yes
Monthly Rent: $495
The business is currently run from a flex office space central to the highest volume corridor in the Triangle. The owner also maintains a home office. Could optionally be home based.
Last Updated: Dec 18, 2017 / 11:53 AM
Financial Information Current As Of: Jul 11, 2015 / 2:40 PM