Business Overview

This is a turnkey, family owned, family operated one stop business for sales, service, maintenance, and parts for all type boats and motors. This business has operated in the Orange Beach Alabama area for over fifteen years and has a sterling reputation for quick repair service for all types of boats and motors. There mission is to repair or service your boat as quick as possible and get you back on the water within a maximum two week time frame. This company has a dependable, honest reputation and stand behind their work. They will travel to homes or to marinas to complete the job with three service trucks for that purpose. This Company has a loyal customer base and their service is in high demand. This business is ready for a new buyer to take over a successful thriving business. The growth opportunity of this business is off the charts with the addition of new and used boat sales.

Financial

  • Asking Price: $475,000
  • Cash Flow: $110,000
  • Gross Revenue: $880,613
  • EBITDA: N/A
  • FF&E: $185,000
  • Inventory: $135,000
  • Inventory Included: N/A
  • Established: 2005

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:2,500
  • Lot Size:N/A
  • Total Number of Employees:3
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

The current facilities includes a covered repair shop that will accommodate two large boats to be serviced at the same time. There is also an outside repair area that will handle and additional large boat to be serviced. The main office includes an executive office along with a receptionist /sales area and a parts department. The main lot is approximately 1.5 acres and the building has street frontage on one of the most travelled roads in Orange Beach. The lease is for five years with an option to renew for another five years at the total fair market rental value. The lease would be negotiated with the owner of the property. (Home Based)

Is Support & Training Included:

The Seller will offer thirty days on premise training with two months consultation after training. Seller wants to stay employed to work two days per week at current pay rate and will work additional days as needed and negotiated. The current office manager is the Seller's wife and she handles orders, invoices, payments, bookkeeping and parts sales. She will work up to 60 days to train someone to replace her since she does not want to continue to work.

Purpose For Selling:

Seller has arthritis and needs to cut back on his work hours.

Pros and Cons:

The market has many marine repair service centers but the market can handle a large number since the area continues to grow at a rapid rate. The Seller has a pristine reputation for sales and service to his customers. The business prides itself on it's mission to repair or service your boat as quick as possible and have a policy to get your boat back in the water in a two week maximum timeframe. When your boat has been at a marine service center for weeks then customers are not happy. .

Opportunities and Growth:

There is plenty of room for growth with the continue growth of the entire Alabama Gulf Coast as well as the opportunity to add sales of new and used boats. There is also room for increasing storage capabilities and with the addition of a couple of techs, the business can grow even faster. They stay extremely busy and have the capability to double their business with an aggressive marketing effort. The business currently works off referrals and does very little advertising.

Home Based:

This Business Is Home Based

Additional Info

The business was founded in 2005, making the business 17 years old.
The deal won't include inventory valued at $135,000*, which ins't included in the suggested price.

The business has 3 employees and is situated in a building with disclosed square footage of 2,500 sq ft.
The building is leased by the business for $4,500 per Month

Why is the Current Owner Selling The Business?

There are all sorts of reasons why individuals resolve to sell businesses. Nevertheless, the real factor vs the one they tell you may be 2 totally different things. For instance, they may say "I have too many other commitments" or "I am retiring". For lots of sellers, these factors are valid. However, for some, these may just be reasons to try to conceal the reality of transforming demographics, increased competition, current reduction in revenues, or a range of various other reasons. This is why it is really crucial that you not depend totally on a vendor's word, yet instead, utilize the vendor's solution combined with your overall due diligence. This will repaint a much more sensible image of the business's present circumstance.

Existing Debts and Future Obligations

If the current entity is in debt, which many businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Numerous businesses finance loans with the purpose of covering items such as stock, payroll, accounts payable, and so on. Bear in mind that in some cases this can mean that earnings margins are too thin. Numerous businesses fall under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may likewise be future obligations to take into consideration. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing agreements with suppliers that must be fulfilled or may result in fines if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Just how do companies in the location bring in new consumers? Often times, businesses have repeat customers, which develop the core of their day-to-day profits. Certain variables such as new competitors growing up around the area, roadway building and construction, as well as personnel turnover can impact repeat customers as well as negatively influence future earnings. One important thing to think about is the location of the business. Is it in a very trafficked shopping center, or is it hidden from the highway? Obviously, the more individuals that see the business often, the higher the possibility to develop a returning client base. A last thought is the general location demographics. Is the business located in a largely inhabited city, or is it located on the outside border of town? Just how might the local median household income impact future revenue potential?