National Franchise Auto Repair Business located on a state highway of Morris County, Northern NJ. Midas Muffler is known in the auto industry for its quality professional service and this particular location has had years of consist income. The seller is relocating out of the general area and is prepared to supply training and financing to a qualified buyer. The business site consists of 15,000 square feet and a 6,000 square foot facility with a clean modern appearance.
The business does from the brake pedal to hydraulic brake fluid, brake master cylinder to power brake booster, drum brakes to disc brakes and electronic anti-lock brake sensors, Midas technicians know every part of your brake system inside and out, No wonder Midas is North America's brake service leader. The franchise also supplies a full menu of repairs for any vehicles. With locations throughout the US and Canada, you can be confident on the product and service.
The sale requires franchise approval which will represent a long term franchise agreement. The sale includes, lifts, computers, a full menu of equipment required for this particular business and an itemized list is available upon request. The building 6,000 sq ft can accommodate ten vehicles on one main floor consisting of one floor with no basement. The business site has a twenty five car private parking area as part of the lease agreement. The business is active six days weekly, closed Sunday with hours from 8:00 am to 5:00 pm. The business is franchise approved & has a municipal CO for auto repairs.
The sale offers a long term commercial lease, expires 2024/01/01 with a current monthly base rent is $5,819, rent security $6,000. The business has 8 employees who are unaware of the pending sale and expected to remain post-closing, monthly payroll approximately $10,000. Based on the asking price, required down payment and net income this business should supply a 28% return to the owner operator prior to debt service.