Flight School Urgently For Sale - Turnaround
Location California,United States
Asking Price Range $500K - $1.0M
Gross Revenues $2200000
Net Profit / Cash Flow $400000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 1994
Number of Employees 6 - 9
Inventory 827000
Relocatable No
Number of Employees 6 - 9
Real Estate Leased
Training Seller will provide training.
Reason for Sale Work for airline.
Description Busy flight school catering to international students for sale. Approx Fifty students enrolled are training for private pilot licenses and some multiengine training with goal of careers as airline and other pilot positions. Most students pay in advance for the training, so there are no cash flow or collection problems. School has been around for 14 years with increasing sales and profits, school operates under Part 61 FAA regulations. School also has the capacity to issue JAA, Joint Aviation Authority, European pilot credentials, as the school has a parent company in Europe that qualifies the company for this coveted status. Student flock to the school and its pupils enjoy learning to fly year round in one of the best climates in the world! School markets by word of mouth in international community, and has a nice history and reputation with ittƒ?s over 1200 Alumni worldwide.
The taxes and results for 2007 are still being assembled, for 2006 the company had sales of $2.2 million with Seller discretionary cash flow of approx $400,000. Seller projects sales are up for 2007 by 20%. For the right buyer with $200,000 down, the seller may carry $460,000 in a note at 7.50% interest, 60 payments of $9217.46 per month, subject to credit approval, total price $660,000. Seller also would consider an interest only period prior to the 60 month amortization period. Interest only would be $2875.00 per month on the $460,000 note, which is $34,500 debt service interest only for one year.
Equipment included in the sale includes sixteen planes, twelve of which are owned by the school free and clear. Total value of the owned and financed planes is approx $800,000. Equity in twelve free and clear 100% owned planes is approx $500,000. Two company planes are leased planes. Two of the most modern planes have loans that approximate the value of those planes for just under $300,000 with a major aircraft manufacturer finance arm, Cessna.
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