Opportunities
Luxury Black Car Service for Corporate Clients
Prearranged Airport Transportation: Business Clientele!
Specifications
The company is located in Tampa and operates in about a 50-mile radius. The owner is ready to “turn over the keys” to the next owner so he can ease into retirement while he stays on board for 1 year during a transition period. This company’s primary clients are corporate/business travelers with prearranged car service to and from the airport. This makes up 70% of their revenue. An additional 15% comes from black car or limo service, which take professionals to and from meetings or are booked by a luxury hotel concierge service for their guests. The last 15% is from the school transport division, which takes students to field trips or after school activities. Included in the purchase of this business is 31 vehicles, including luxury sedans, luxury SUVs, executive vans, SUVs, minivan, passenger van valued at $332,000. Currently, the owner is only responsible for general oversight and handling AP, which the CSR Manager would be easily able to wrap into their current job responsibilities. The team consists of 1 Customer Service Manager, 1 Customer Service Rep, 1 Dispatch Manager, 1 Mechanic, and 40-50 contract drivers. Not everyone wants to use a ride share app such as Uber or Lyft, and before ride share, not all people wanted to use a taxi; which is why for more than 25 years, this high-end transportation and black car service business has withstood the test of time!
This airport transportation service has the opportunity to double their revenue in Feb of 2023! A 5-year contract will be awarded from the Tampa Bay International Airport’s newly added terminal. This company is the #1 contender in winning out of 3 shuttle service businesses. There is also space to expand service into non-emergency medical transportation. With a low multiple of only 3.15 this is priced at $1,725,000. The owner is willing to carry 10% of the note, showing a vested interest in the ongoing success of the company. In 2022 the Cashflow is over $665,000 boasting a 32% Profit Margin.
Funding Details
Business:
Offer Price: $
% Buyer Cash Down at Closing: $
% Seller Carry Back via Promissory Note: $
year term at a rate of %
% of Purchase Price secured by Buyer and Seller
Total Bank Loan Need: $
% of Purchase Price
Desired Loan Type:
Desired Bank Terms: year term at a rate of %
Total Business Assets, Inventory, and A/R: $
Total Undercollateralized Loan: $
Loan Payments
| Monthly Payment to Bank: | $ |
| Yearly Payment to Bank: | $ |
| Monthly Payment to Seller: | $ |
| Yearly Payment to Seller: | $ |
| Total Monthly Debt Service: | $ |
| Total Yearly Debt Service: | $ |
Conclusions
Fixed Charge Coverage Ratio
The bank will require a minimum ratio of 1.5 to be lendable.
|
Cash Flow: 2019+2022 Average Cash Flow |
$ |
| Annual Debt Service: | $ |
| RATIO: |
Buyer's Net Operating Income (NOI)
The amount of money the Buyer will retain as profit.
|
Cash Flow: 2019+2022 Average Cash Flow |
$ |
| Annual Debt Service: | -$ |
| NOI: |
Buyer's Return on Investment (ROI)
The rate of return on the Buyer's down payment.
| Down Payment: | $ |
| NOI: | |
| ROI: | % |
Attachments
| Document Title / Description |
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