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Tutoring Academy College For Sale

San Jose, California - North
Asking Price:
$275,000
Sales Revenue:
$346,243
Cash Flow:
$163,643

Private, independent tutoring business to prepare high school and other students for SAT, ACT and college level courses. Located in high income area where parents emphasize academic excellence and want to get the best for their children. This tutoring business paid $780,000 for its intellectual property that makes up the teaching materials and is updated annually to stay current. The business is positioned as the best quality and charges higher tuition than any other school in the area. The owner has organizaed and positioned the school to serve the top 5% of the market, where affluent parents are willing to pay for the best. Low overhead results from using part-time contractors to do all of the teaching. This business is very profitable and has a lot of upside if the new owner wants to work full-time. Owner is selling to retire after 25 years in this industry.

Property information

Real Estate:

Lease

Lease Terms:

Current term expires 10/14/19 plus 3-year option. Possible to obtain more options. Landlord may sublease or assign, depending on the qualifications of the buyer.

Leasehold Rent:

$29 per annum

Living Accommodation:

None

Location:

Major street near major freeways in high income area where parents make education a top priority and are willing to pay for it. They want the best for their children.

Premises Details:

Leased facility 3,530 square feet. Professional office in mixed use office/retail newer development.

Size in square feet:
3,530

Business Operation

Expansion Potential:

Owner works about 20 hours per week. A new owner working full-time could double the revenue and the facility has the capacity to do that.

Competition / Market:

There are many college prep and tutoring schools nearyby - even in the same building. This business is positioned to be the top school with the highest quality education. Its tuition is the highest and this school targets the top 5% of the market providing small class sizes and personal attention while the competitors pack students into large classes.

Reasons for selling:

retirement after 25 years in the industry

Trading hours:

2:00 PM to 8:00 PM Monday - Saturday; longer hours in Summer

Employees:
No employees. 15 teachers on contract (1099) and one part-time admin on conract (1099)
Years established:
23

Other Information

Support & training:

2 weeks at 20 hours per week..

Financing available:

Preapproved for 10-year loan 85% of purchase price. Options: variable interest rate prime + 1.55% or fixed rate prime + 2.00%

Furniture / Fixtures value:
$25,000

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