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Description

Auto Dealership Businesses for Sale! – Here’s a chance to buy a legacy business that has been a pinnacle of the Boston auto sales community for the past few decades.

An ideal situation for someone with a passion for cars, but even those financially motivated Buyers can stand to gain from the expertise of the Seller and his willingness to stay on board for an extended period.

Business Overview:

Boston Area High Volume Used Car Dealership:

  • This Auto Dealership Business is located on a high volume corner location!
  • 120-ish cars in stock at any given time between the lot inventory and some in storage
  • Seller owns the property and will be leased back.

Other Information

Seller is willing to finance a portion of the purchase price (subject to negotiation) only because he knows what a cash cow this business can be. Has previously grossed over $2,000,000.00 a month and has the bank statements to back it up.

Target is $3k profit per vehicle, and he pretty much hits the mark each one out the door. Upside exists for well-capitalized Buyers seeking to double the net income or more to add buy-here-pay-here services, i.e. in-house financing.

Seller has all the ideas but lacks the passion and so it’s time to transition his enterprise to hungry owner-operators.

Presently over-staffed due to loyalty, Buyer should be prepared to take a consulting approach and trim the fat after a change of possession, could be run as a husband and wife or father/son gig and have 7 employees and call it day easily.

NDA is required for an exact business address to see the lot for yourself.

Industry Overview:

According to Wikipedia, here is the History of car dealerships in the United States!

“The early cars were sold by automakers to customers directly, or through a variety of channels that included mail order, department stores, and traveling representatives. The first dealership in the United States was established in 1898 by William E. Metzger. Direct sales by an automaker to consumers are now limited by most states in the U.S. through franchise laws that require new cars be sold only by licensed and bonded, independently owned dealerships.[1]

Car dealerships are typically franchised to sell and service vehicles by specific companies. They are often located on properties offering enough room to have buildings housing a showroom, mechanical service, and body repair facilities, as well as to provide storage for used and new vehicles. Many dealerships are located out of town or on the edge of town centers. An example of a traditional single proprietorship car dealership is Collier Motors in North Carolina.

Many modern dealerships are part of corporate-owned chains such as AutoNation with over 300 franchises. Dealership profits in the US mainly come from servicing, some from used cars, and little from new cars. The average new car price was $33,419 in 2015, while used cars cost $19,397.[2]

Most automotive manufacturers have shifted the focus of their franchised retailers to branding and technology. New or refurbished facilities are required to have a standard look for its dealerships and have ‘product geniuses’ to liaise with customers.[3][4] Audi has experimented with a hi-tech showroom that allows customers to configure and experience cars on 1:1 scale digital screens.[5][6] In markets where it is permitted, Mercedes-Benz opened city centre brand stores.[7]

Tesla Motors has rejected the dealership sales model based on the idea that dealerships do not properly explain the advantages of their cars, and they cannot rely on third party dealerships to handle their sales. However, in the United States, direct manufacturer auto sales are prohibited in almost every state by franchise laws requiring that new cars be sold only by dealers.[8] In response, Tesla has opened city centre galleries where prospective customers can view cars that can only be ordered online.[9][10] These stores were inspired by the Apple Stores. [11] Tesla’s model was the first of its kind, and has given them unique advantages as a new car company. [12]

(sourced information on industry: https://en.wikipedia.org/wiki/Car_dealership).

 

ProNova Partners Buyer Profile & NDA

***RED STARS ARE REQUIRED FIELDS*** This information is required and must be filled in completely before the Seller will release any vital information, including business address, financial due diligence package on file, and other sensitive confidential information. It will also be used by ProNova Partners to match your buyer profile with future similar engagements our firm has for sale. * Required






BUYER’S ACKNOWLEDGEMENT OF INTRODUCTION AND CONFIDENTIALITY AGREEMENT:

The undersigned, individually and on behalf of any partnership, corporation, company, individual, group of individuals, or other entity of any nature, type, or form for which the undersigned is acting or which the undersigned represents or is engaged or employed by (collectively, “Buyer”), acknowledges that ProNova Partners, the DBA of Ace Business Brokers, Inc. (CA DRE #01869984) and agents working for ProNova Partners (hereinafter, “Broker”) first introduced Buyer to, and provided Buyer with Confidential Information about the following business identified herein on this website (“Business”). Buyer further acknowledges that the Confidential Information, as defined herein, is valuable and proprietary to the Business, and that the Business and its owners (hereinafter, collectively, “Seller”) therefore desire to maintain complete confidentiality of all information disclosed to Buyer. Buyer further expressly acknowledges that such Confidential Information shall be provided to Buyer for the sole purpose of evaluating the possible purchase by Buyer of all or part of the stock or assets of the Business. In consideration of the acknowledgements and covenants of Buyer contained herein, and for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by Buyer, Buyer agrees as follows:

1. DEFINITION OF “CONFIDENTIAL INFORMATION”:

The term “Confidential Information” shall mean any and all information communicated, furnished, or disclosed, in whatever form, fashion, or medium, to Buyer regarding or related in any way or fashion to the Seller or to the Business which is proprietary and confidential to Seller, including without limitation the fact that the Business is for sale; all financial, database, production, marketing, scientific, statistical, research, operational, technical, and pricing information; business knowledge and know-how; business methods; business procedures, processes, and techniques; business manuals; manufacturing processes, procedures, and techniques; ideas; discoveries; inventions; developments; correspondence; records; data; databases; contracts; contract terms; vendor information; contractor information; customer lists; employee lists; and any other information made known to Buyer: (a) from any inspection, examination, or other review of the books, records, assets, liabilities, processes, or production methods of Seller; (b) from any communication with Seller or Seller’s broker, directors, officers, employees, contractors, agents, suppliers, vendors, customers or representatives; (c) during any and all visits to Seller’s premises; or (d) through disclosure or discovery in any other manner. Confidential Information shall also mean and include any information, data, or documents prepared by Buyer that incorporate, are based upon or arise from or as a result of any Confidential Information. Confidential Information shall not include information that, (a) is or becomes generally available to the public, (b) was known to Buyer on a nonconfidential basis prior to its disclosure to Buyer by the Seller or Seller’s Representatives, or (c) is independently developed by Buyer or its Representatives without the use of or reference to any Confidential Information.

2. NON-DISCLOSURE OF INFORMATION:

Buyer shall use the Confidential Information only for the sole purpose of evaluating the possible purchase by Buyer of all or part of the stock or assets of Seller, and shall not make use of the Confidential Information, in whole or in part, for any other purpose whatsoever. Buyer further agrees to keep confidential all of the Confidential Information and to take all reasonable steps to preserve the confidential and proprietary nature of such Confidential Information. Buyer acknowledges and agrees that all Confidential Information furnished hereunder shall be and remain the property of Seller. Buyer further agrees not to disclose or permit access to any Confidential Information, without Seller’s prior written consent, to anyone other than Buyer’s legal counsel, accountants, lenders, or other agents or advisors (“Buyer Consultants”) to whom disclosure or access is necessary for Buyer to evaluate the Business. Disclosure of the Confidential Information shall be made to such Buyer Consultants only for the sole purpose of evaluating the possible purchase by Buyer of all or part of the stock or assets of Seller, and Buyer represents and warrants that each such Buyer Consultant has agreed, prior to its receipt of Confidential Information, to abide and be bound fully by all terms and conditions of this Agreement to the same extent as Buyer so agrees and is bound. Neither Buyer nor Buyer Consultants shall use or permit the use of Confidential Information in any manner whatsoever, except as may be required for Buyer to evaluate its potential acquisition of the Business or as may be required by legal process. Buyer expressly agrees Buyer shall be responsible for any breach of this Agreement by Buyer Consultants, or by any of its or Buyer Consultants’ officers, directors, employees, advisors, agents, and representatives, and any of the above. If the Buyer does not purchase the Business, Buyer shall, at Seller’s sole direction, either destroy or return to Broker all information provided to Buyer, including without limitation Confidential Information, and Buyer shall not retain any copy, reproduction, or record thereof.

3. BUYER’S RESPONSIBILITY AND DISCLAIMER OF BROKER’S LIABILITY:

Broker has received information about the Business from the Seller, which information may include, but is not limited to, tax returns, financial statements, equipment lists, and facility leases. Based on information provided by Seller, Broker often prepares a summary description of the Business, which may include a cash flow projection, an adjusted income statement, or a seller discretionary cash flow statement. Buyer understands that Broker does not audit or verify any information given to Broker, nor does Broker make any representation or warranty, express or implied, as to the accuracy, completeness, or fitness for a particular purpose of the information, including without limitation the Confidential Information, of Seller. Broker does not in any way guarantee future business performance of the Seller or of the Business. Buyer is solely responsible to examine and investigate the Business, its assets, liabilities, financial statements, tax returns, and any other information and facts which might influence Buyer’s purchase decision or the price Buyer is willing to pay. Any decision by Buyer to purchase the Business shall be based solely on Buyer’s own investigation and that of Buyer’s Buyer Consultants, and not upon any information or investigation (if any) provided by Broker. Any costs, fees, and expenses incurred from consultations with advisors including but not limited to Buyer Consultants shall be at the sole expense of Buyer and Buyer’s exclusive responsibility to pay. Broker shall not have any liability or responsibility to Buyer and its officers, directors, employees, advisors, agents, and representatives, or to Buyer Consultants and their officers, directors, employees, advisors, agents, and representatives, or any of them, arising from, regarding, or related in any fashion to the use of any Confidential Information furnished to Buyer hereunder. Buyer, on behalf of itself and its officers, directors, employees, advisors, agents, and representatives, as well as on behalf of Buyer Consultants and their officers, directors, employees, advisors, agents, and representatives, or any of them, expressly disclaims, releases, and holds Broker harmless from and against any and all liability that does or may arise from or relate to (a) the use of the Confidential Information, (b) any errors therein or omissions therefrom.

4. NON-CIRCUMVENTION AGREEMENT:

The Seller has entered into an agreement providing that Seller shall pay a fee to the listing broker if, during the term of such agreement and up to twenty-four (24) months thereafter, the Business is transferred to a buyer introduced by the listing broker or a cooperating broker. Buyer shall conduct all inquiries into and discussions about the Business and Seller solely through Broker and shall not directly contact the Seller or any of the Seller’s representatives. Should Buyer purchase all or part of the stock or assets of Business, acquire any interest in Business or Seller, execute any lease at the Business premises, or become affiliated in any capacity with Business or Seller without Broker’s participation, or in any way interfere with Brokers’ right to a fee, Buyer shall be liable to the listing broker and the cooperating broker for such fee and any other damages including without limitation reasonable attorney’s fees, costs, and Broker’s expenses of collection.

5. DISCLOSURE REQUIRED BY LAW:

If Buyer or any of its agents or representatives is required by subpoena or other court order to disclose any Confidential Information, Buyer shall provide notice of such subpoena or order to Seller within seven (7) business days of Buyer’s receipt of same, and Buyer shall use reasonable best efforts to resist disclosure of any Confidential Information until an appropriate protective order may be sought, or a waiver of compliance with the provisions of this Agreement is granted in writing by Buyer. If, in the absence of a protective order or Buyer’s receipt of a written waiver of compliance, Buyer or any of its representatives is nonetheless in the written opinion of Buyer’s legal counsel legally required to disclose Confidential Information, then in such event Buyer may disclose such information, provided that (a) Seller is given a reasonable opportunity in advance of such disclosure to review the text and substance of such disclosure before it is made, and (b) said disclosure is limited solely to the Confidential Information specifically required to be disclosed.

6. REMEDIES AND INDEMNIFICATION:

Buyer expressly acknowledges that monetary damages would not be a sufficient remedy upon Buyer’s breach of the provisions of this Agreement, and Buyer further acknowledges that Seller and/or Broker shall be entitled to equitable relief, including without limitation injunctive relief and specific performance, in addition to all other remedies available at law or in equity. Buyer agrees to indemnify, defend, and hold harmless Broker from and against any and all losses, damages, liability, costs, fees, and expenses, including without limitation attorney’s fees, that Broker may sustain or incur as a result of Buyer’s breach of this Agreement.

7. FURTHER TERMS:

This Agreement is not, and will not be construed as, any form of a letter of intent or agreement between Buyer and Seller, or between Buyer and the Business, to enter into any type of transaction. This Agreement reflects solely Buyer’s agreement to maintain the confidentiality of the Confidential Information Buyer receives hereunder. This Agreement does not and shall not constitute any commitment or obligation on the part of Buyer, on the one hand, and Seller or Business, on the other hand, to enter into any transaction or contractual arrangement of any form, type, or nature whatsoever. Neither Buyer nor its agents or representatives will contact Seller’s employees, customers, landlords, or suppliers, nor linger or otherwise observe the Business, without Seller’s written consent. Throughout the term of this Agreement and for three (3) years thereafter, Buyer shall not directly solicit for employment any employees of Seller. However, Buyer shall not be prohibited from making general solicitations for employment not directed at the Business, nor from hiring any employee that responds to such general solicitations. Broker may act as a dual agent representing both Buyer and Seller. Seller and Seller’s successors are specifically intended to be third-party beneficiaries of the duties and obligations of this Agreement and may prosecute any action at law or in equity necessary to enforce this Agreement’s terms and conditions as though Seller were a party hereto. This Agreement can only be modified, amended, or supplemented in writing, signed by both Broker and Buyer and stating that it is a modification, amendment, or supplement to this Agreement. Waiver of any breach of this Agreement shall not be a waiver of any subsequent breach. This Agreement supersedes all prior and contemporaneous agreements and understandings between the Buyer and Broker with respect to the subject matter herein. If any term or provision of this Agreement shall be deemed by any court decision to be invalid or unenforceable, the remaining terms and provisions of this Agreement shall remain and continue in full force and effect. This Agreement shall be construed under and governed by the laws of the State of Delaware, without regard to conflict of law principles. Buyer and Broker hereby irrevocably consent and voluntarily submit to jurisdiction and venue in the state and federal courts located in Orange County, California as related to any action instituted to enforce any terms of this Agreement. This Agreement may be signed in counterparts; faxed and electronic form signatures may be considered as originals. If Buyer is a corporation, partnership, company, or other such entity, the undersigned executes this Agreement on behalf of Buyer and warrants that he/she is duly authorized to do so and has the actual authority and power to bind the corporation, partnership, company or other such entity to this Agreement. Buyer acknowledges receipt of a fully completed copy of this Agreement, which shall be continually available on the site https://www.pronovapartners.com/.

~ Digital/Physical Signature Required ~ By typing my FULL NAME below I agree to be bound by all terms of paragraphs 1 through 7, and this entire Buyer’s Acknowledgment of Introduction and Confidentiality Agreement

*Please type your FULL NAME to validate your acceptance of all terms of this agreement.*

If you do not receive the CIM within 5 minutes – Check your SPAM FOLDER. The CIM is automatically sent out upon NDA submission. If you don’t see it within 5 minutes, please send an email request to [email protected] Or call us direct at 833-ProNova (833-776-6682) Thanks!

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Pronova Partners

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