MergerPlace

Classic Car Dealership

Irvine, California (Orange)


  • Asking Price: $425,000
  • Gross Income: $2,500,000
  • Cash Flow: $204,000
  • Real Estate: Not Disclosed
  • Inventory: $785,000
  • FF&E: $5,000
  • Listing ID: #209904
  • Established: 1998
  • Employees:

Business Description

Formed in 1998, the business is a licensed and bonded Southern California dealership which has a long and standing reputation of being one of the leaders in quality vintage corvettes, classic and exotic cars. Throughout these years, the business has been exporting European and American made vehicles of all types, achieving thousands of car sales both all over the United States and worldwide, including Australasia, Europe, South America, the Middle East, Russia and China.
The business presently owns car inventory worth about 795K (at cost) as well as carries another 1.6MM in consignment car inventory (at cost). All inventory is sold separately.
The current owner has 25+ years of experience and knowledge in the industry, which will be passed on to the new owner. Great relationships with all the owners of the large auction houses, with an established dealer network within the United States and overseas, car locaters, and transportation contacts. Established discounts with large parts houses.
The largest opportunity for growth is in ramping up the sales and marketing efforts and company exposure. This can be achieved by adding sales staff and car locators to the existing network, as well as participating in more classic car auctions country-wide. The business is also set up for, city zoned and currently holds a business license for automotive repair, which it is not currently utilizing. With the existing model line and facilities, the annual sales could surge with a strong push in this area.
Customers are acquired through referrals by existing customers, email and telephone contact, car show and swap meet attendance, collector car auction attendance and participation, national and international marketing and advertising and word of mouth. The business enjoys an excellent reputation in the classic car community as expressed in many on line forums and discussion groups. Many of the its buyers, both dealers and private party buyers, have purchased cars sight unseen. The business has earned a reputation of being honest and forth going with its car descriptions and are unsurpassed in its integrity and expertise, while becoming one of the leading domestic and worldwide corvette and classic car dealers. The business is also a member of the National Corvette Restoration Society "NCRS", and it has a qualified National Master NCRS Judge on staff. The show room is designed with lots of old items, and it is always a favorite topic of discussion by all that visit.
There is an experienced mechanic and detailer in house, that provides the ability to perform self-owned full frame off restorations and are set up and capable of doing outside service work as well. The business has an excellent assortment of established parts in-house and also subcontract vendor discounts. It also offers an appraisal and vehicle inspection service. The inventory ranges from driver quality projects to frame off restored show cars.
The owner is selling because of an early semi retirement. This is not a distressed sale and the owner is prepared to stay on as long as needed to train the new owner and introduce them to all the company friends and contacts for however long needed in a full time capacity for minimal compensation. Once this is achieved he is prepared to stay on if needed as a consultant or part time buyer or seller. With some resources applied to marketing and sales the potential for much improved growth is evident.


Business Details

Primary Business Category: Retail Trade - Motor Vehicle & Parts
Location: California
Metropolitan Area: Irvine
County: Orange

Company Information

Year Established: 1998
Home Based: No
Franchise: No
Relocatable: No
Number of Employees:

Financial Information

Asking Price: $425,000
Gross Revenue: $2,500,000
Cash Flow: $204,000
FF&E: $5,000
Inventory: $785,000
Seller Financing Available: No

Property Information

Growth & expansion opportunities:

Excellent

Competition:

The Company faces competition from a number of classic car dealers for its product offerings. It’s longevity in business and expertise in this industry give major advantages over its competitors and start up dealerships.

Reason for selling:

Semi Retirement

Support & Training:

Excellent

Contact Business Seller

This form may be used only to contact the seller of this specific business listing. Please do not use this form for any other purpose.

Business Listed By:

Vasilis Georgiou

CrossRoads Business Brokers, Inc.