Profitable auto salvage business located in Northern New Jersey, Essex County. This wonderful auto service always produces a substantial net income to the owner operator due to the high mark up and low cost of goods. A salvage yard, or lot, is used to store auto parts and scrap metal to be sold as individual parts or in bulk at a substantial mark up. The resalable of auto parts and vehicles is a national retail operation representing billions of dollars yearly sales. The company is located on a highly active county road and conveniently off US Route 1 & 9. The business location has been fully upgraded with a clean professional image. The storage areas consist of approximately ten thousand square feet with a capacity for 200 plus vehicles, with a two thousand square foot office, three bay garage and thousands of square feet of storage area. The owner is prepared to evidence 2018 gross sales of $1,263,767 and a consistent net yearly net income. They also specialize in wrecked luxury and exotic vehicles as well as damaged hybrids and foreign cars. Their experienced staff also functions in bulk purchasing of salvaged cars from thousands of insurance companies and banks. Their inventory comes in varying conditions including; theft recoveries, collision damage, flood damage and bank repos. They can ship the salvaged vehicles exporting the inventory from nearby New Jersey ports. Viewing their inventory is available online and always posted for sale. The sale includes a long lease with a modest monthly rent cost. The business opportunity has eleven employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $25,000. The business has been valued based on a multiple of the net yearly income which includes the business assets, inventory, and valuable licenses, some seller financing may be available to a qualified buyer with an appropriate down payment, collateral and credit rating. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo may not represent this particular business.
The business is conveniently located in Northern New Jersey Essex County off US Highway 1 & 9. The area consists of a large metropolitan city with a substantial demand for this product and service. The site consists of eighteen thousand square feet, a fully operational 2,000 sq. ft. office and 60,000 square foot of storage and a three-bay garage.
Due to the valuable and unavailable auto scrap license, no other new competitors are likely, to the best of our knowledge no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
The business presently has a limited online operation & marketing budget / plan which if improved can further develop the business bottom line income.
Support & Training:
The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator.
Available to a qualified buyer with an appropriate down payment.
Reason For Selling:
The sale is due to partnership separation and owner’s retirement.