Leading Mid-Atlantic Boat Dealership
Maryland
| Asking Price: | $2,900,000 |
| Gross Revenue: | $13,500,000 |
| EBITDA: | $850,000 |
| Real Estate: | $3,900,000 |
| Cash Flow: | $1,025,000 |
| Inventory: | $500,000 |
| FF&E: | $450,000 |
Listing ID: 1708311Listing provided by BizBuySell
BUSINESS DESCRIPTION
Very profitable marine sales and service business!
Highly respected, award winning, market leading Mid-Atlantic power boat dealership. Boat sales consist of premium quality saltwater offshore fishing boats. Founding owners have owned and operated the business for over 25 years. A strong management team has a stellar reputation with their customers, their brands, and the greater community. Average employee longevity is 15 years with some having over 25 years. The business also includes a service department, comprehensive marine parts and accessories, and seasonal outdoor boat storage. The business also operates a nine-slip marina with public-accessible boat ramp, and fuel dock.
DETAILED INFORMATION
Location
Maryland
Inventory
Included in asking price
Real Estate
Owned
Building SF
40,000
Employees
24
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
Company leases approximately 40,000 square feet of buildings consisting of a sales showroom, service facilities, several outbuildings on two separate but contiguous land parcels, and a nearby marina. Base rent for all parcels is $168,000 annually. Real estate is owned in a separate legal entity and can be purchased at market value.
Competition
The business competes against other regional boat dealers representing other dealer lines. The business maintains exclusive boat dealerships for a very large regional territory. Competitive advantages include strength of inventory, very attractive sales showroom, reputation for customer-centric service, staff longevity, and owned boat ramp for in-water demonstrations.
Growth & Expansion
The business has a continued growth trend over the years. The line of credit floor plan has been recently expanded in anticipation of the manufacture making available to dealers in 2020 a new larger model in high demand.
Support & Training
Owners have been absentee for more than 20 years. The business has been operated by a very strong management team. This team desires to remain in the same capacity with the business after the sale. Support and training for the buyer will be extensive, if desired.
Reason for Selling
Retirement and exit strategy.
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