Sold
Sold
Established Tire and Towing Businesses
$1,795,000
Cayuga County, NY
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Gross Revenue
$3,064,775
Owner's Cash Flow
$522,454
Min Down Payment
$179,500
Employees
20 FT
Business Summary
Founded many decades ago, the tire business has been a hallmark of the local community and has collected a large and loyal following thanks to its reputation for friendliness and trustworthiness. In addition to tire services, the shop offers several segments of automotive services, including oil changes, brake repair, wheel alignment, air conditioning repair, and inspections for New York State. Within the last decade, the current owner opened an accompanying towing shop, which has many synergies with the auto shop and has been an incredibly lucrative investment. The towing company has strong partnerships with the major auto insurance providers to provide roadside assistance to automobile owners. They also offer salvage towing for the same auto-insurance providers and salvage yards. The towing and tire businesses, which share the same trade name, are being sold together given the synergies that exist between the two and the shared overhead costs.
Key Highlights
Year established
1983
Real estate
Owned will lease
Reason for selling
The current owner is retiring.
Support and training
The current owner will stay on for up to 6 months to train the new buyer.
Broker of Record
John McCleary
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Consolidated Cashflow
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| 2020 | 2021 | 2022 | |
|---|---|---|---|
| Gross Revenue | $7,181 | $5,545 | $6,714 |
| COGS | $9,356 | $6,645 | $9,991 |
| Gross Income | ($2,175) | ($1,100) | ($3,277) |
| Operating Expenses | $1,129 | $823 | $3,412 |
| Operating Incomes | ($3,304) | ($1,923) | ($6,689) |
| Net Other Income (Expenses) | ($8,633) | ($859) | ($1,276) |
| Net Income | ($11,937) | ($2,782) | ($7,965) |
| Interest | $3,955 | $5,670 | $5,909 |
| Depreciation | $8,823 | $4,257 | $7,226 |
| Amortization | $2,833 | $2,808 | $8,532 |
| EBITDA | $3,674 | $9,953 | $13,702 |
| Add-backs | $56,388 | $69,776 | $60,329 |
| Owner's Cash Flow | $60,062 | $79,729 | $74,031 |
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Projected Free Cash Flow
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