The Company was founded in 1998 by the current owner and his partner and was incorporated in October of 2002 after he bought out his partner in 2000. He has owned the company with his wife for the last 17 years.
The Company has been in the same location in Liberty, Texas since it was established. Their customers include several generations of satisfied customers who keep coming back because of the value and service provided by their dealership.
The Seller is willing to carry a portion of the financing for a Buyer with the right professional qualifications and experience. The owner is including all inventory in the sale and since the Buyer would be receiving the unpaid inventory they would also assume the liability to pay the floor plan carrier at the time each vehicle is sold. For the right buyer, the seller will consider providing “floor plan” services until the buyer is established and has their own program. Also included in the sale of the business are the receivables which are currently valued at $103,000.
The company’s business model is very straight forward. They sell used cars and trucks to customers throughout Liberty County. They also provide in-house financing to customers as well as using institutional lenders to help clients purchase vehicles.
The owner of the company currently owns the real estate upon which the business is located. The buyer of the business would have two options:
• First, they can lease the property on a triple net lease (NNN) for $2,400 per month rent. The taxes and insurance would be the responsibility of the lessee.
• Secondly, they have the option to purchase the property upon which the business is located. The property upon which the business is located is on one of four adjacent parcels, three of the four which have frontage on Highway 90. The owner is open to selling any or all the parcels. Two of the parcels currently have leases on them that the buyer would inherit should they decide to purchase these additional parcels. If the buyer is interested in purchasing any of the parcels we can supply additional information as needed. The pricing in this memorandum assumes the buyer would lease the property and the purchase of any of the parcels would be at additional cost.