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Outdoor Water Recreation Sales and Rentals (second sale)
NCListing DetailsOffice ID: OUTDOOR2
Status: Sold
Listing Broker: Jeff Snell, M&AMI, CBI, ABI
Listing Price: $195,000
Gross Revenue: $305,155
Cash Flow: $69,000
Inventory: $50,000
Inventory Included: No
FF&E: $48,000
FF&E Included: Yes
Accounts Receivable: $10
Down Payment: $55,000
Sale Price: $155,000
Real Estate Included: No
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:
Asking price is $195,000 PLUS inventory at cost as of the day of sale. Seller will partially finance qualified buyer with buyer Personal Guarantee and UCC Filing covering assets being sold.
Absentee Owner: Yes
Reason for Sale:
Seller is absentee and lives out of state. Seller would like to consolidate business capital.
Training:
Seller will provide transition support in person and remotely by phone/email as appropriate.
OperationsYear Established: 1992
Form of Ownership: S Corp
Employees (full-time): 2FT, 4PT
Managers: 1
Business Hours: 10am-6pm days dependent on season
Summary
Business Description:
Provides water related product sales and rentals (Canoes, kayaks, paddles, PFDs) and related accessories and apparal. Conducts river trips and special events such as kayak and canoe trips to groups and organizations such as the Boy Scouts and church groups, birthday parties, day camp programs and trail/river/lake packages.
Historical Summary:
Started in 1992. Sold in 1996 to prior owner. Sold in 2006 to current owner. Off season; 4 employees, on season 8 employees all part-time. Approximately 70 percent of trip scheduling/reservations are done online. Some retail.
Owner Qualifications:
General and administrative skills, accounting/payroll . Staff solid on products and services.
Competition:
Access at this river point is restricted to this companys trips. Not very many options for boat rentals even in an extended geographic area. Big box retailers sell like product.
Potential Growth:
Seller believes that river trips can be grown. Onsite owner operator has obvious benefits. Establishing relationships with organizations will establish significant recurring revenue model.
LocationType of Location: Stand Alone
Facilities:

Landlord owns retail building, land in back available and 1/4 acre additional for boat storage lot. Different landlord collects monthly for river access lease.


Last Updated: Oct 8, 2015 / 11:18 AM
Financial Information Current as of: Jul 23, 2013 / 2:17 PM