Listing ID: 74133
Located at Craig Takeout Shipyard Marine Diesel repair business. Complete turnkey operation for marine and industrial diesel engine repair, rebuild, sales and service including marine transmissions and custom machining. Owner has unexpectedly passed away ”Business Currently not operating”
- Asking Price: $199,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: $189,000
- Inventory: $40,000
- Inventory Included: Yes
- Established: 2007
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
The shops are in shipping containers. Three 40 ft. HC: 1. An Engine and Transmission rebuild shop 2. A well-equipped machine shop 3. A component rebuilding shop with tool crib and Vidmar cabinets of organized small parts and supplies. Three additional containers containing more equipment and parts: 1 40 ft HC 2 40 ft Standards In addition, there is a 10 ft office container with library containing factory manuals, OEM parts books, vender catalogs and technical information. The containers are owner owned on leased property located in an industrial park owned by the City of Craig. It is adjacent to the City's boat haul out yard and across from a boat storage yard. The City of Craig has a harbor with two moorage basins. Prince of Wales Island has several fishing fleets in various ports
N/A however widow is knowledgeable about the operations may assist in the transition , however this is to be considered a Asset Sale only and all is sold AS-IS
Owner has passed away
The City of Craig has expressed interest in retaining this service in Craig and will potentially work out a lease agreement with the new owner. The customers are also very supportive to retain this service in the community. It is also possible to move the entire operation to another location.
The venture was started in 2007, making the business 15 years old.
The sale does include inventory valued at $40,000, which is included in the asking price.
Why is the Current Owner Selling The Business?
There are all sorts of reasons why people resolve to sell operating businesses. Nonetheless, the true factor vs the one they say to you may be 2 absolutely different things. As an example, they might state "I have a lot of other obligations" or "I am retiring". For numerous sellers, these reasons stand. But also, for some, these may just be justifications to attempt to hide the reality of changing demographics, increased competitors, recent reduction in profits, or an array of various other reasons. This is why it is really crucial that you not rely absolutely on a seller's word, but instead, utilize the seller's answer together with your overall due diligence. This will repaint a more reasonable image of the business's existing scenario.
Existing Debts and Future Obligations
If the existing entity is in debt, which many businesses are, then you will need to consider this when valuating/preparing your offer. Lots of businesses borrow money so as to cover points like inventory, payroll, accounts payable, and so on. Bear in mind that sometimes this can suggest that revenue margins are too thin. Lots of organisations come under a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may also be future commitments to consider. There may be an outstanding lease on tools or the building where the business resides. The business may have existing contracts with suppliers that have to be satisfied or may lead to penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area bring in new customers? Many times, companies have repeat customers, which create the core of their daily profits. Certain variables such as new competition sprouting up around the location, roadway building and construction, and also employee turnover can impact repeat clients and also negatively impact future incomes. One important point to consider is the area of the business. Is it in an extremely trafficked shopping center, or is it hidden from the main road? Certainly, the more individuals that see the business often, the better the possibility to develop a returning consumer base. A final idea is the basic area demographics. Is the business placed in a densely populated city, or is it situated on the outskirts of town? Exactly how might the neighborhood average family income effect future revenue potential?