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May 26, 2016 5:52 EST

Westwood Auto & Truck Parts: We purchase wrecked vehicles from insurance companies , dismantle them and sell the good parts to dealerships, body shops, garages and individuals repairing their vehicles.

iCrowdNewswire - May 26, 2016

Westwood Auto & Truck Parts Logo

 

Westwood Auto & Truck Parts

 

Toledo, OH 43607, US
Consumer Products
www.westwoodautoparts.com

 

We purchase wrecked vehicles from insurance companies , dismantle them and sell the good parts to dealerships, body shops, garages and individuals repairing their vehicles. Our 21 acres facility and 100k sq. ft. warehouse, allows us indoor storage.

Opened in 1977, our business has always been a cash cow. We historically purchased around 1000 vehicles per year. Our businesses goal is to only purchase nice low miles (under 75k) units. We offer a 30 day warranty on our parts and want our customers happy with the product. About 20 years ago, my uncle retired and was bought out, then my father and then my ex-wife. Therefore over the past 20 years the business has paid out over $4 million. At the same time, the business model changed because of the internet. Prior to the internet the only way to see if we had product you had to call, every insurance adjuster called us. Today everyone goes online and gets quotes. The money spent on buying out prior owners has caused a huge reduction in our inventory at a time when we should have a larger than ever inventory. Our sales have slide from $4 million per year to $700k. I am here to obtain funding to purchase inventory. I am open to either equity sale or business loans. This is a fantastic business and will boom again if I can get financing! I am a credit worthy and honest businessman, please consider this excellent opportunity!

 

 

Products / Services

 

used auto and truck parts

Our business model requires that we buy newer wrecked vehicles from insurance companies at auction, bring them to our yard, photograph and inventory the vehicle into our computer system. Parts are then sold to mostly other business, 80% of our sales are to other businesses like new car dealers, used car dealers, body shops, garages, other salvage yards and tire shops. 20% of our sales is to individuals fixing their own vehicles.

 

 

Management

 

President
Edward Reinstein

Edward Reinstein

 

I helped to open the facility in 1977, then went to Arizona State University, graduated in 1982 with BS in Business Administration. Worked for Citicorp until 1987 until I came back to Westwood. I have worked in every capacity of this organization. I am also a past president of the Ohio Auto and Truck Recyclers Association.

 

 

Summary

 

Prior Year Revenue Current Year Revenue Next Year Revenue

 

 

Company Age Employees Sub-Industry
38 years, 10 months 6 Auto Parts

 

 

Company Type Stock Exchange Stock Symbol
Privately-Held

 

 

 

 

Contact Information:

Edward Reinstein

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