Towing Company that services Orange County and surrounding area… The company has a major contract with an Insurance Carrier to handle their towing policies. They have a total of 7 trucks which includes a brand new towing truck for medium services (bob-tail) & 5 flat bed trucks. The tucks are currently under loan payments and will be paid off through pay-off dates during the next 48 months. They offer a wide range of towing services from local to long distance towing. The Buyer has acquired a storage yard that has just been brought up to City Code for extended possession of vehicles brought in from Freeway accidents or breakdowns. They also have the entitlements in place to receive a contract from the Highway Patrol. The fee is $195.00 pick up for initial transfer and $50.00 per day thereafter. Both of these assets should be in place within the next two months. They are compensated twice a month by the Insurance Carriers. The final asset is their ability to do Overflow Towing jobs for Insuance Carriers Towing Services; that do not have sufficient towing trucks. This is a huge source of monthly income.
Adjusted Net: $150,000