Listing ID: 71551
Long established successful business. The company is an authorized dealer and highest-level Master certified technician of boating’s top brand names and related parts and services.
Key services that are provided at the business include engine trouble shooting, repair and repowering, electronics installation, spring commissioning, bottom painting, shrink wrapping, indoor heated and outdoor covered storage and launch services.
- Asking Price: $600,000
- Cash Flow: $250,000
- Gross Revenue: $1,400,000
- EBITDA: N/A
- FF&E: $170,000
- Inventory: $100,000
- Inventory Included: Yes
- Established: N/A
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:6
- Furniture, Fixtures and Equipment:N/A
The facility is a large commercial building surrounded by an expansive fenced boat yard located near major highway routes and close proximity to coastal boating industry and recreational marinas. Multiple commercial access points at the facility include Dock-Height Garage Doors with forklift drop gates and High-Lift Garage Doors. The inside of the building includes offices, break room, bathroom, multiple work bays and ample storage for tools, equipment and inventory of engines and parts. The boat yard also includes two fully-wrapped tent structures for outdoor, covered boat storage.
As needed for a smooth transition.
The company has grown top-line sales over 50% in the last few years and continues to thrive with a recent post-COVID boom in recreational boating. Years of proven service to boat owners in one of the busiest coastal markets in the region is a strong foundation from which a new owner can continue to grow. Additional boat lines and technical services may also be considered to grow the business.
The sale shall include inventory valued at $100,000, which is included in the requested price.
The company has 6 employees and is located in a building with approx. square footage of N/A sq ft.
The property is leased by the company for $0.00
Why is the Current Owner Selling The Business?
There are all sorts of reasons why individuals resolve to sell operating businesses. Nevertheless, the real factor vs the one they say to you may be 2 completely different things. As an example, they may state "I have a lot of various responsibilities" or "I am retiring". For numerous sellers, these factors are valid. However, for some, these may simply be excuses to attempt to conceal the reality of changing demographics, increased competitors, recent reduction in revenues, or a range of various other factors. This is why it is extremely essential that you not count totally on a vendor's word, but rather, make use of the seller's solution together with your general due diligence. This will repaint a more practical image of the business's current circumstance.
Existing Debts and Future Obligations
If the current company is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your offer. Many companies borrow money with the purpose of covering points such as supplies, payroll, accounts payable, etc. Remember that in some cases this can suggest that profit margins are too thin. Many companies fall into a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may also be future obligations to consider. There may be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with vendors that need to be fulfilled or may lead to penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the location bring in brand-new customers? Many times, companies have repeat customers, which develop the core of their day-to-day revenues. Specific variables such as brand-new competition growing up around the location, roadway building and construction, and also employee turn over can impact repeat clients and also negatively affect future earnings. One important thing to take into consideration is the placement of the business. Is it in an extremely trafficked shopping center, or is it concealed from the highway? Undoubtedly, the more people that see the business on a regular basis, the better the chance to develop a returning customer base. A final thought is the basic location demographics. Is the business placed in a densely populated city, or is it located on the outside border of town? Exactly how might the local median household income impact future earnings prospects?