Imperial Automotive is an independent automotive dealership located in Hattiesburg, MS. Imperial's gross revenue for 2024 was $3M, an increase from $2.5M in 2023. Our owner has 20 years of experience in the car business, but is always learning the newest things in the automotive industry in order to stay ahead of the competition. We are looking to raise $1M to push growth exponentially.
$250-300K will be used to purchase a larger, more beneficial location. We are currently leasing a double wide trailer on gravel. The new location will be a traditional dealership with a service department. The service department will add revenue that we currently do not have, while also reducing our cost of repairs to inventory. The location we are looking into will be purchased below value, ensuring it's an equitable asset from the beginning.
An additional $350k will be used to purchase inventory. We currently use floor plans to purchase inventory. The total credit limit of these 2 floor plans are $350k. This will allow for Imperial to have twice the inventory, leading to twice the revenue.
The remainder will be used to increase advertising, hire staff and have working capital to help further our goal of $10M in annual revenue.
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