Taxi Cab Company - Priced To Sell
Location Ohio,United States
Asking Price Range $1.0M - $2.5M
Gross Revenues $2535683
Net Profit / Cash Flow $509917
Cash Flow Type EBITDA
Seller Finance No
Year Established 1985
Number of Employees 6 - 9
Inventory All Equipment and Real Estate
Relocatable Yes
Number of Employees 6 - 9
Real Estate Owned
Training Seller is absentee owner has operating management in place.
Reason for Sale Other significant business interests.
Description This is an established Taxi company who has been around for about 20 years. The company owns a fleet of about 78 vehicles. The company is basically engaged in the leasing of taxicabs to taxi drivers, management of contract accounts (something that is not very well done due to absentee owner) and maintenance of taxicabs. The 2007 sales was $2.5 million with an estimated EBITDA of $509,917 and discretionary cash flow to the owner of $632,018. The company is housed in its own special use property designed for taxi usage. The company is absentee owned and has a General Manager and staff of about 8 (including dispatchers, adjusters, mechanics, etc.) The company is one of the leading suppliers of taxicab services in its metro area. Like most current taxicab services, they use drives as independent contractors who among other things are responsible for purchasing the gasoline for their vehicles (it is worth noting that the city of Cleveland has made allowances so that the taxi cabs can recover the recent gasoline price increases.) Contract fares account for a significant part of its business and are renewed approximately every one to 3 years. The potential exists for more contract fares. However, due to the fact this is an absentee owned business, this growth potential has not been properly exploited by the company. The company has the ability to get up to about 100 additional taxicab licenses. ASKING PRICES: Business: $ 1,250,000 including the Real Estate (NOTE: The brokering of the Real Estate will take place through RE/MAX Traditions.)
NOTE: Listing Broker is willing to co-broker with other Business Brokers who will be required to source Buyers' Fees.
Click Here To Contact Seller
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