|Wylie's Golf Cart Services, Inc.|
NCListing DetailsStatus: Sold
Listing Broker: Michael Fekkes, CBI, CEPA
Listing Price: $295,000
Gross Revenue: $1,994
Cash Flow: $71,000
Inventory Included: Yes
FF&E Included: Yes
Real Estate Included: No
Sales Structure: Asset Sale
Seller Financing: No
Reason for Sale:Owner has Health Issues
OperationsForm of Ownership: S Corp
Employees (full-time): 1
Business Hours: M-F 8:30am - 5pm; Every other Saturday 9:00am - 12:00
Business Description:Wylie's Golf Cart Services is a 15 year old E-Z-GO dealer who sells, rents, customizes and services golf and utility cars. There are 43 Golf Courses in the greater Pinehurst area. Golf is the backbone and driving force for all facets of the local economy. This business has a phenomenal customer base, an impeccable reputation, and is positioned for significant growth in the years ahead.
Owner Qualifications:Technical expertise or industry experience is not a perquisite for successful operation of this business. Becoming a student of the local market and the intricacies of the golf cart business is a skill that can learned in short order especially if the current Svc Manager is retained for continuity purposes.
Competition:There is only one direct competitor in the area for the golf car line of sales, parts and service. This dealer represents the Yamaha & Club Car brand of carts.
Potential Growth:North Carolina is one of the five most popular states for golf. The name Pinehurst has become synonymous with golf and is a way of life. The greater Pinehurst area revolves entirely around golf and the sport touches every facet of the local economy and eclipses all other recreational activities. Pinehurst has been growing steadily over the last few decades; according to the 2000 Census, the population of the municipality grew by 91 percent between 1990 and 2000, and village officials say the trend is continuing. The greater Pinehurst area is experiencing tremendous growth with 2 major golf/resort developers building high end planned unit developments adding up to several thousand homes in the near future. In late 2007 Oceanico Group, the leading luxury property developer and golf operator from Portugal, selected Pinehurst as the location for its US Headquarters and is currently in the process of developing a 650 acre master planned community. Florida-based Stonehill Capital Group publicly announced plans to develop 1,500 acres near Foxfire Village (8 miles South of Pinehurst) into a master-planned resort community. The development is scheduled to include two Jack Nicklaus-designed signature golf courses and a Ritz-Carlton hotel complete with a spa and conference center. It could have as many as 1,000 homes once it is completed. The adjacent town, Southern Pines, is often referred to as "Horse Country" due to the preponderance of large equestrian estates, a market perfect for the E-Z-GO "ST Express". This market has been relatively untapped by Wylie's Golf Carts and represents a significant growth area for a future owner who is able to dedicate the appropriate time and energy to capturing this business.
LocationOption: Negotiable with Landlord
Monthly Rent: $1,400
Square Footage: 5200
Wylie's Golf Carts is conveniently located in a Warehouse/Office Facility located 3.5 Miles North of Pinehurst Traffic Circle and is adjacent to the Little River Golf Resort. Just minutes away from all major residential subdivisions and golf resorts.
Last Updated: Mar 9, 2015 / 12:30 PM
Financial Information Current as of: Jul 23, 2013 / 2:17 PM