Headquartered in the Midwest, Cruise is a multi-location used car dealership that deploys a differentiated approach where it focuses on the quality of its inventory and generates long-term customer satisfaction. The Company has built a positive reputation in the community by purchasing late-model domestic vehicles and making significant investments in the reconditioning of each vehicle. In turn, Cruise can generate above-average profit margins on each sale.
The owners are nearing retirement age and desire to divest from the Business but are willing to assist new ownership for the next 3-5 years. The owners are inclined to continue in their current operational roles, allowing new ownership to focus on long-term strategic planning and attacking growth opportunities.
December 31, 2022 Revenue: $67,218,598
December 31, 2022 Cash Flow: $4,024,215 (Adjusted EBITDA)
December 31, 2022 Inventory: $13,979,314
Number of Employees: 65 Total (Including Ownership), 21 Salespeople
Facilities: The facilities include 55,026 square feet on 9.96 acres of land across multiple locations. The facilities are owned by the Company and comprise sales offices, service centers, detailing centers, showrooms, business development offices, corporate offices, and undeveloped land.
Support/Training: The owners are willing to assist new ownership for the next 3-5 years. The owners are inclined to continue in their current operational roles, allowing new ownership to focus on long-term strategic planning and attacking growth opportunities.
Reasons for Selling: While the Company still has significant growth opportunities available to continue its upward trajectory, the owners are nearing retirement age and prefer to spend their time on operational duties rather than long-term strategic planning and growth.
(1) Focus on Quality Inventory
(2) Lucrative Sales Structure
(3) Online Platform
(4) Marketing and Community Involvement
(1) Geographic Expansion
(2) Additional Revenue Streams
(3) Enhance Online Buying Platform
(4) Maximize Current Facilities Utilization
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