Listing ID: 80584
Business Overview
Hawaii’s oldest boat dealership providing: boat, outboard motor, trailer & kayak sales, servicing, repair, parts & accessories. Serving the boat community on 2 islands with an excellent reputation utilizing both indoor show rooms and base yards. Featured as the #1 Honda engine dealer in Hawaii, this dealer has received the business of the year award. The top brands sold include: Mercury, Bowrider, Sea Chaser, Zodiac, Bayliner, Arima. An excellent website allows customers to view the inventory with 825 results for engine brands like: Honda Marine, Mercury Marine and Tohatsu, along with 297 results for boats of all styles. The service center offers complete marine service and repair for lower units, powerheads, electrical systems, marine electronics, steering and rigging, as well as warranty support for their outstanding manufacturers. Two locations, both centrally located for easy access. All products are available at both locations.
Financial
- Asking Price: $1,035,000
- Cash Flow: $350,000
- Gross Revenue: $2,021,000
- EBITDA: N/A
- FF&E: $100,000
- Inventory: $640,000
- Inventory Included: N/A
- Established: 1976
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Building on the Big Island - Available for purchase or rent. 2 buildings, 6,890 sq ft total. Yard 31,780 sq ft. Current rent $3,200 per month + GET. Approximate value $1 M (currently being scheduled to be appraised). New lease available. Building & base yard on Maui – Building, 9,450 sq ft, $3,333.31 per month. Yard, 19,780 sq ft, $520 per month. Lease ends June 2028. An option may be negotiated.
Owner & CEO passed away recently and his widow would like to retire.
Additional Info
The company was started in 1976, making the business 46 years old.
The sale won't include inventory valued at $640,000*, which ins't included in the requested price.
Why is the Current Owner Selling The Business?
There are all sorts of reasons why people decide to sell businesses. Nonetheless, the true reason vs the one they say to you might be 2 entirely different things. For instance, they might state "I have too many various obligations" or "I am retiring". For lots of sellers, these factors are valid. But also, for some, these might simply be reasons to try to conceal the reality of changing demographics, increased competitors, recent decrease in earnings, or an array of various other reasons. This is why it is really crucial that you not rely absolutely on a vendor's word, but rather, utilize the seller's answer combined with your general due diligence. This will paint a much more practical picture of the business's current scenario.
Existing Debts and Future Obligations
If the current entity is in debt, which numerous companies are, then you will certainly need to consider this when valuating/preparing your offer. Numerous businesses take out loans in order to cover items such as supplies, payroll, accounts payable, etc. Remember that sometimes this can mean that profit margins are too tight. Lots of businesses come under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may also be future obligations to take into consideration. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with vendors that should be satisfied or may result in charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the location attract brand-new clients? Many times, operating businesses have repeat consumers, which form the core of their day-to-day revenues. Particular factors such as new competition sprouting up around the location, roadway building, and employee turnover can impact repeat clients and adversely influence future incomes. One important thing to take into consideration is the location of the business. Is it in a very trafficked shopping center, or is it concealed from the main road? Clearly, the more individuals that see the business often, the greater the possibility to build a returning consumer base. A final thought is the general area demographics. Is the business placed in a largely populated city, or is it situated on the outskirts of town? Just how might the local typical family earnings influence future earnings potential?
