Chimera Strategies, a Business Brokerage Firm Located in New York, is Representing a Limousine Company for Sale
EAST HILLS, N.Y., May 9, 2011 /PRNewswire/ --
Outstanding Features:
The limousine company, located in Nassau County, was established in 1989 as a S-Corporation. The fleet consists of seven black cars, including an "office on wheels" and two green cars. The limousine company is in good standing with the New York City Taxi & Limousine Commission ("T&LC") and has a license to operate black cars and luxury limousines.
The limousine company is focused on the corporate market, which generates 85% of net receipts or sales. Additionally, 75% of the trips begin or end in New York City.
The limousine company is a home-based business and has no lease liabilities.
Financial Highlights
Our client's net receipts or sales were $281,611 and cash flow was $131,608 in 2009. Our client's business, similar to other businesses catering to corporate clients, experienced cutbacks in corporate spending during the financial crisis vis a vis previous years.
Our client projects net receipts or sales to increase 28% in 2010.
The Ideal Buyer
The ideal buyer is a 1) strategic buyer or 2) entrepreneur. The industry or strategic buyer can execute a "rollup strategy" by acquiring net income. Customary to a "rollup strategy" expenses can be reduced and opportunities to cross-sell can be executed. The entrepreneur can acquire a home-based business that allows him/ her to service the note, make a living and grow an established business.
The Asking Price
For the asking price of $385,000 the ideal buyer receives 1) assets, 2) the ability of those assets to produce cash flow and 3) goodwill. The assets are seven black cars worth $252,005. The assets produce an average annual cash flow of $126,356. The goodwill includes a) five corporate accounts generating 70% of net receipts or sales, b) a license from the T&LC to operate black cars and luxury limousines, c) no lease liabilities and d) the owner staying on to engineer a smooth transition.
About Chimera Strategies
Chimera Strategies is a full service business brokerage firm offering our clients' unrivaled knowledge and experience in all phases of a sale, merger or acquisition. Our mission is to close a transaction as quickly as possible and at a price and terms that meet or exceed our client's expectations. Additional information about Chimera Strategies can be obtained by visiting our website at www.chimerastrategies.com.
Disclaimer
This Memorandum contains certain statements, estimates and projections provided by Chimera Strategies LLC and the business being represented with respect to its past and anticipated future performance. Such statements, estimates and projections reflect assumptions by Chimera Strategies LLC and the business being represented concerning past and anticipated results, which assumptions may or may not prove to be correct. No representations are made as to the accuracy of such statements, estimates or projections.
SOURCE Chimera Strategies
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