Midwest Bus Company--10' Sales up 30% – Seller Financing Available
Asking Price:
$1,335,000.00
Gross Revenue:
$1,011,000.00
Cash Flow:
Cash Flow Type:
Business Description:
This veteran charter and tour business has been serving the Midwest for over 25 years. the sale price includes $1,035,000 million in equipment-9 vehicles and $50,000 in inventory. The majority of the company sales come from charter business. The company is a military carrier and maintains a #1 rating. It has also been recognized for a superb safety record. It is completely debt free, and it has been completely accident free for over 6 years. 40% of the sales come from Schools/Universities. 25% come from the military. 35% is split between corporations, churches, and casinos. The business for sale maintains an impeccable reputation in the community and with its customers—as demonstrated through repeat business and several loyal accounts. If you are an existing charter bus company in the Midwest or Heartland area of the United States, this acquisition has the potential to create up to $5 Million in gross sales over the next 5 years. Additionally, it can substantially increase the enterprise value of your existing company. Because the seller is offering financing to qualified buyers, this acquisition can be a highly cost effective, risk adverse growth strategy to any charter bus or transportation related company. It can also be a great way to increase utilization on existing equipment and to replace lost sales. Additional note: Not every vehicle is required to be included in sale. This business is ramping up into a growth mode. Most importantly, this business can be purchased by an existing bus business in the region for little cash down. Please contact Spencer Tenney, CBI at stenney@charlestenney.com for more information.
Seller Financing:
Up to $300,000 available to qualified buyers.
Year Established:
1983
Mgmt. Training/support:
Owner can stay on for a training period of 30 days as apart of the transaction. If necessary, more time can be negotiated. Additional staff can be available to stay on with new owner but do not have to be retained.
Reason For Selling:
Retirement
Facilities:
Owner owns facility. 10 bay garage (125 ft x 150 ft) can be leased to buyer at $1000 per month--extremely cheap. Additional office space adjacent to building can also be leased from current owner at $1000 per month also.
Market:
The tour business industry has been sluggish over the past year. The charter segment continues to be reliable and strong. The current owner has turned town many opportunities to expand relationships with existing customers. The Seller suggests with a larger fleet already in place, and in some cases, with newer vehicles already in place, a buyer could potentially grow the existing operation substantially with little effort—just from existing accounts.
Outlook/Competition:
The business has been in the hands of an owner who is admittedly conservative in the approach to business development. The business regularly turns away “on demand” business because the owner is not comfortable with the stress of last minute coordinating. This could be an opportunity for a buyer who is conditioned to deliver that type of service. The competition largely consists of a handful of operators in the region who for the most part do not aggressively compete against each other. Current owner is committed to continue to grow the business while in the sale process.
