CHARTER BUS COMPANY – Southwest Region
|Asking Price:||UNDER CONTRACT|
|Gross Revenue:||Projected 2016 $7,000,000|
|Cash Flow:||Projected 2016 $2,900,000|
Twenty plus year old charter bus business has increased sales by 40% since 2013 while reducing the overall number of buses in fleet. Company cash flow and profits are growing steadily. Management believes the last two years have set the stage for strongest revenue and profit years in 2016 and 2017. The top 50 customers produce 60% of annual revenue. Customers are a mix of corporations, universities, independent schools districts, government, churches, clubs, agencies and tour companies. Some customers have contracts. Some customers have been loyal for 15 and 20 years. Seller has built a strong management team that requires the owner to come to the office two or three days per week. The multiple generation family business owner is no longer challenged or passionate about the business.
This is an excellent opportunity for an existing bus company to expand in the Southwest or a local operator to grab market share and keep national operators out of the market. There may be additional bonus depreciation available to Buyer.
Due to the company’s commitment to a modern fleet, several 2016 buses were delivered and put in service before end of 2015. The company takes pride in their equipment and their drivers. Their attention to detail and routing has insured trouble free travel for the clients. Company has a core group of employees that have been with them for many years.
|Seller Financing:||Up to $750,000 payable over 5 years at a rate of 5% to qualified buyers.|
Two weeks included in sale. More time negotiable.
|Reason For Selling:||
Focus on another business Seller owns
The facility is owned by the seller. It has generous office space and vehicle parking available to double the fleet. Property is not included in the sale but is available for purchase or long term lease at market value.