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Very Successful English Speaking Car Dealership For Sale

Parrita, Puntarenas, Costa Rica
Freehold Price:
$1M - $5M (USD) Furniture / Fixtures and Inventory / Stock included
Lease Asking Price:
$1M - $5M (USD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
Over $5M (USD)
Cash Flow:
$250K - $500K (USD)

Hugely successful pre-owned car dealership is for sale. This dealership was the first (and is currently) the only used car company offering a warranty on the cars they sell. Their warranties and their English speaking have made them a favorite with the thousands of Expats moving to Costa Rica. They currently have 3 locations with the 4th store opening in July (2023) and the 5th in November (2023). This company has grown from just 3 employees to over 45 in under 4 years and is VERY well positioned for solid growth for the unforeseeable future. The owners came out of retirement to start this company, not realizing how much it would grow, and are ready to phase back into retirement. The right candidate will need to have experience running a large scale business as the growth trend of this company puts it at a combined sales volume of over $100,000,000 per year by 2028.

For more information, please contact us by using the form below.

Property Information

Real Estate:

Available as lease or with real property included

Lease Terms:

There is one section of property (our service departments parking lot) that we are not able to buy. We have a long-term lease for $1,130 per month.

Leasehold Rent:

$13,000 (USD) per annum

Living Accommodation:

There are no living accommodations available with the terms of this sale.

Location:

Our corporate offices and main recondition facility are located in the Southern Pacific zone of Costa Rica in a town called Parrita. The town of Parrita is in the very center of a large territory that is densely populated with English speaking residents. We are opening 10 locations in areas similar to Parrita. We are taking our car lots to our targeted customer base. Our 2nd store opened in Uvita on October 18, 2021. Our third store, in Tamarindo, opened on December 3rd, 2022. Atenas, our 4th store opens in July and our 5th store will open in La Fortuna by the end of 2023.

Premises Details:

Our Parrita location is just over an acre in a prime commercial area. It consists of a large modern repair shop, metal fabrication department, body shop, parts office, small warehouse, retail accessory store and a car sales showroom.

Size in square feet:
50,000

Business Operation

Expansion Potential:

We spent over $1,000,000 dollars and 18 months building our repair facilities BEFORE we sold our first car. This was a huge risk but, because we were going to be the first dealer to offer any warranty, it was necessary. We sold our first car in April of 2020, just as the pandemic was starting. The Expats that were here as the borders shut down, bought enough cars from us to make us profitable. As the boarders eventually opened, our business exploded. In order to capture market share quickly, we offered territories for sale and launched our franchise business model. In less than one year, we sold 4 territories. Each franchise location pays us a $50,000 franchise fee, needs to purchase an initial inventory of $500,000 minimum. We had to halt the marketing of our franchises in order to handle our initial franchise sales. That marketing will resume in July after store #4 opens. Our goal is to opne 10 locations by the end of '24 but there is no need to stop there. Also, as our car sales increase, so does the sales of our accessories, body work and repair shop.

Competition / Market:

There is very little competition. Selling used cars in Costa Rica is what I imagine it was like in Ohio 1950. You have a handful of new car dealers selling 2 to 5 year old cars with no warranty other than any remaining factory warranty a car might have. For anything older that 5 years old, there are around 70 small time dealers literally selling cars with no repair shop. None of them offer warranty. We are the only ones, which is what has set us apart. We are the "Starbucks" of the used car industry in Costa Rica. All other car dealers would have to re-model their business model and invest millions to try and do what we do. We will not have any real competitors for years to come.

Reasons for selling:

The owner/founder came out of retirement to start this business and is ready to re-retire.

Trading hours:

Monday thru Friday - 7:30 am to 5:00 pm
Saturday - 8:00 am to 2:00 pm

Employees:
45
Years established:
2019

Other Information

Support & training:

The owner and founder will stay on board for 30 days after the sale at no charge. After that, a salary structure can be negotiated if needed.

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

Would prefer cash but the owner will finance up to 33% of the business for 5 years at 16% interest.

Furniture / Fixtures value:
$200,000 (USD) - included in the asking price
Inventory / Stock value:
$1,100,000 (USD) - included in the asking price
Website:
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Lease asking price:
$1M - $5M (USD) - Furniture / Fixtures and Inventory / Stock included

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