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Outdoor Water Recreation Sales and Rentals (first sale)
Listing DetailsStatus: Sold
Listing Broker: Jeff Snell, M&AMI, CBI, ABI
Listing Price: $255,000
Gross Revenue: $449,932
Cash Flow: $78,798
Inventory: $131,524
Inventory Included: Yes
FF&E: $42,956
FF&E Included: Yes
Down Payment: $125,000
Real Estate Included: No
Seller Financing: No
Financing/Terms:
Asking price is $125,000 plus inventory at cost. Seller will consider an appropriate componant of seller financing.
Absentee Owner: Yes
Reason for Sale:
Owner has accepted full time position as CFO with his church.
Training:
Seller will provide 2 weeks of training/support at no cost.
OperationsEmployees (full-time): 7
Summary
Business Description:
Provides water related product sales and rentals (Canoes, kayak's, paddles, PFD's) and related accessories and apparal. Conducts river trips and special events.
Historical Summary:
This business was incorporated in July 2005 to acquire the assets of a Raleigh North Carolina kayak/canoe retail sales, rental, and livery operation.
Owner Qualifications:
Owner should be interested in outdoor activities, have excellent people skills, management experience and desire to further grow the business. Current owner is a Certified Public Accountant by trade.
Competition:
Retail competition is limited due to brand exclusivity, location, and other's lack of water side services/programs. This company is the only to provide Neuse River trips.
Potential Growth:
Expansion options abound. Current owner has begun product sales to livery operators who make bulk purchases, but as operators and not retailers cannot buy direct. Additional opportunities include, in store coffee and ice cream (high traffic street location), expansion of kayak and canoe trips to additional groups and organizations such as the Boy Scouts and church groups, birthday parties, day camp programs and trail/river/lake packages.
LocationMonthly Rent: $2,500
Square Footage: 5000
Facilities:
Operations are located on 3 acres of land below the Falls Lake dam. The location is housed in two buildings comprising approximately 5,000 square feet. The location is leased for a four year term (at $2,500 per month), with a purchase option. Across the street from the Raleigh location is a public boat access to the Neuse River.
Last Updated: Jul 12, 2015 / 1:05 PM
Financial Information Current as of: Jul 23, 2013 / 2:17 PM