Busy Bait and Tackle Shop with Boat Slips
NCListing DetailsOffice ID: TACKLE1
Listing Broker: George Bradbury
Listing Price: $155,000
Gross Revenue: $266,044
Cash Flow: $54,665
Inventory Included: Yes
FF&E Included: Yes
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:SBA loans available and seller financing.
Reason for Sale:Owner wished to pursue another business opportunity.
Training:Owner will train buyer for 40 hours over a period of 30 days.
OperationsYear Established: 1991
Last Acquired: 2012
Form of Ownership: S Corp
Employees (part-time): 1
Business Hours: MTWT 9-6 FS 8-7
Business Description:This business specializes in the sale of bait and tackle ranging from backwater fishing to offshore fishing in the Gulf Stream. Focusing heavily on custom tackle, line spooling, and providing quality service has kept this business successful for over 25 years. This tackle shop carries many of the industry’s top brands such as Momoi, Suffix, Power Pro, Mustad, Eagle Claw, Gamakatsu, Quick Rig, Ahi/Promar, Blue Water Candy, Joe Shute Lures, Ilander, Squidnation, Sea Striker, Clarkspoon, Berkley, Z-man and more.
Historical Summary:This Tackle and Bait shop is located in Carteret County, North Carolina-- ¼ mile from the Atlantic Ocean and only a few short miles from Beaufort Inlet. The business was started in 1991 and was purchased 6 years ago by a long time employee. The business has been featured in several articles and most recently was featured on Discovery Channel's Sport Fishing Television.
Owner Qualifications:Love of fishing would be a plus along with some knowledge of the industry. Buyer should have general business, accounting, sales, and marketing familiarity.
Competition:3 other stores sell tackle beyond the box stores. No other shop focuses on high quality offshore tackle and customer service. This shop offers the highest quality bait and maintains exclusive rights to that bait, along with several other tackle brands carried in the store.
Potential Growth:There are a few areas of potential growth for this store. One area to expand would be the sale of alcohol. Many shops in other locations have found success with selling beer and wine. Currently there are no tackle shops in the county selling alcohol. With a boat ramp next to the store, there are potential beer and other staples sales. Another area of growth to expand on would be more tourist driven items. These items would include beach chairs, coolers, umbrellas, towels, sunblock, sunglasses, etc.
LocationType of Location: Strip Center
Lease Expires: Dec 31, 2018
Option: 5 year
Monthly Rent: $1,500
Square Footage: 2000
The business is 1/4 mile from the Atlantic Ocean in a strip shopping cnter.
Last Updated: Aug 27, 2019 / 9:34 AM
Financial Information Current As Of: Jul 15, 2018 / 5:20 PM