Listing ID: 67385
Located on a pristine, waterfront beach, this business offers up exciting adventure and activity for water lovers of all ages. Hugging the coast of northeastern North Carolina this business has been creating exciting activities for families for over 20 years. Positioned conveniently on a main thoroughfare, excitement resounds as soon as you pull in the parking lot. The business provides literally every imaginable watercraft for rental and use. Starting with bumper boats for some short excitement, the business expands to rentals of surfboards, paddle boards, sailboats, kayaks, and jet skis to name just a few. Boat excursions are included for those looking for something with a little less excitement and total relaxation. For those who are not wild about the water, bicycle rentals are available for rides along the sand swept waterfront. In addition, this business offers delivery of beach equipment. The business, without exception, has something for everyone.
This business opportunity is seasonal and offers up a unique approach to business ownership. The winter months provide for the owner the ability to travel and relax, or for the very driven, the ability to venture into another business opportunity off-season. The area the business resides in is sought after, a great place to live, raise a family, and participate in a superb lifestyle.
In-season (mid-May to end of September) the business is nonstop from morning to night. Eighteen employees support the operation during the heavy months in addition to the owner. It’s a lot of activity and hard work, as the owner and employees are focused on customer service. Days are filled with customer transactions, boat orientations, off-site rentals, returns, maintenance, and more. In place is a great software system to handle all the customer activity as well as online reservations. You can literally make money while you sleep. It’s a lifestyle of bathing suits, being outdoors, being in the water, and making people happy.
The area surrounding the business offers up excellent dining opportunities as well as quick snacks, cool drinks, and ice cream. Again, something for everyone. The business has been a dream come true for the owner who now finds himself at a time where retirement is on the horizon but his love for the business and his desire to see it go forward will provide a buyer a super transition and comfortable takeover.
- Asking Price: $249,500
- Cash Flow: $83,166
- Gross Revenue: $682,670
- EBITDA: N/A
- FF&E: $217,086
- Inventory: $5,000
- Inventory Included: Yes
- Established: 1994
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:18
- Furniture, Fixtures and Equipment:N/A
The business facilities reside on 1.4 acres of land incorporating three buildings. One building includes retail purchases, a second is storage and maintenance, and the third is a customer ticket booth. All the facilities are incorporated in the lease at $8,333 per month. The current lease runs until January 1, 2026.
Will train for 2 weeks @ $0 cost.
The business was founded in 1994, making the business 28 years old.
The sale will include inventory valued at $5,000, which is included in the requested price.
Why is the Current Owner Selling The Business?
There are all types of reasons individuals decide to sell companies. Nonetheless, the genuine factor and the one they say to you might be 2 absolutely different things. For instance, they may claim "I have too many other responsibilities" or "I am retiring". For lots of sellers, these reasons are valid. However, for some, these may just be justifications to try to hide the reality of transforming demographics, increased competition, recent decrease in earnings, or a range of various other reasons. This is why it is very vital that you not depend totally on a seller's word, but instead, make use of the vendor's solution combined with your general due diligence. This will paint a more reasonable image of the business's existing circumstance.
Existing Debts and Future Obligations
If the existing company is in debt, which numerous companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Numerous businesses finance loans in order to cover points like stock, payroll, accounts payable, so on and so forth. Remember that in some cases this can imply that revenue margins are too tight. Many organisations come under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may likewise be future commitments to think about. There may be an outstanding lease on tools or the building where the business resides. The business may have existing agreements with vendors that need to be satisfied or might lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the area draw in brand-new customers? Many times, companies have repeat clients, which form the core of their daily profits. Particular aspects such as new competitors growing up around the location, road building and construction, and also personnel turnover can impact repeat consumers as well as adversely influence future earnings. One important thing to think about is the location of the business. Is it in an extremely trafficked shopping center, or is it concealed from the highway? Certainly, the more individuals that see the business often, the greater the opportunity to construct a returning consumer base. A final thought is the general location demographics. Is the business situated in a densely inhabited city, or is it situated on the outskirts of town? Just how might the regional typical house earnings impact future earnings potential?