My Car Dealership is FOR SALE! Here is why I am selling Flying Wheels

Summary

In this video, Craig, the owner of Flying Wheels, announces that his car dealership is for sale. He provides a detailed tour of the business, showcasing the building, service bays, office, and inventory. Craig shares the history of the business, its success, and its impressive revenue figures, including over $2 million in annual sales. He explains that he is selling the dealership after moving to Florida, making it difficult to manage remotely. Craig offers the opportunity for someone else to continue the business, emphasizing its profitability and the potential for growth. Interested buyers are encouraged to reach out.

Takeaways

• 😀 Craig is selling his car dealership, Flying Wheels, which has been in operation since 2010.
• 😀 The dealership was purchased in 2014, and substantial improvements were made to the property, including paving, roofing, and building an office.
• 😀 At its peak, Flying Wheels generated over $2 million in sales annually and earned impressive net profits.
• 😀 The dealership is located in southern New Hampshire, near major highways, providing great visibility and consistent traffic.
• 😀 Flying Wheels is a full-service car dealership, offering not only car sales but also a state inspection station and maintenance services.
• 😀 The current owner, Craig, moved to Florida a year ago and is selling the business due to the difficulty of managing it remotely.
• 😀 The business includes licenses for car sales, banking, inspections, and more, allowing a seamless transition for a new owner.
• 😀 There are 6 to 7 cars currently for sale, but the dealership typically sells 20 cars per month, generating around $30,000 to $40,000 in revenue each month.
• 😀 The building is not for sale, but the new owner can lease it, and Craig will assist in transferring all business registrations and licenses.
• 😀 The business is turnkey, with an experienced manager, Lauren, who has been running operations for over a year and can help with the transition.
• 😀 Craig is offering the opportunity to purchase the dealership for anyone interested, but the price is negotiable, and financing should be in place before reaching out.

Q & A

Why is Craig selling his car dealership, Flying Wheels?

Craig is selling Flying Wheels because he moved to Florida and finds it difficult to manage the business remotely from a distance of 1,500 miles. He also wants to focus on the next phase of his life.

How long has Craig been in business with Flying Wheels?

Craig has been in business with Flying Wheels since 2010, and he has been operating the dealership at its current location in New Hampshire for 10 years.

What is included in the sale of Flying Wheels?

The sale includes the dealership business, the name Flying Wheels, the business licenses, and a step-by-step guide on how to operate the business. The building itself is not for sale but will be leased to the new owner.

What kind of services does Flying Wheels provide?

Flying Wheels is a full-service station and inspection station. They offer oil changes, brake repairs, inspections, ball joints, tie rods, and other easy maintenance tasks. They do not handle more complex tasks like engine swaps or transmission work.

What was the peak performance of Flying Wheels in terms of sales?

At its peak, Flying Wheels was selling over $2 million worth of cars annually. The dealership also averaged between $30,000 and $40,000 in revenue each month.

How many cars does Flying Wheels typically sell per month?

Flying Wheels typically sells around 20 cars per month.

What are the main factors driving traffic to Flying Wheels?

Flying Wheels benefits from its location along major highways, with proximity to Massachusetts and easy access to other routes like Route 111 and Route 93. The dealership also gets traffic from being a state inspection station and offering auto repair services.

What is the current inventory like at Flying Wheels?

At the time of filming, Flying Wheels has eight cars for sale, but they usually stock 20 cars a month. They have had much higher inventory levels in the past.

Who is Lauren, and what is her role at Flying Wheels?

Lauren is the manager at Flying Wheels. She has been running the dealership for almost a year and is familiar with all the operations. She has been with the business for over a year and knows how to manage everything effectively.

What kind of financial options are available for purchasing Flying Wheels?

Craig is not offering owner financing. Buyers will need to have cash in hand, secure an SBA loan, or arrange for financing through other means, such as local banks, family, or friends.