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Global Business Brokerage Inc. where you will experience a "World of Difference"
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Industry: Manufacturing - Boat BuilderSegment: Boat Building - High Quality Power Catamarans and V-Bottom BoatsGeography: Ideal Florida Location - Emerald Coast; close to white sandy beaches and Caribbean like, crystal, blue/green water. Located near a very popular vacation spot for Florida tourists and snow birds, sport fisherman, and boaters. These boats and yachts are known throughout the power catamaran industry as the Cadillac of the power catamarans and conventional V-bottom fishing and pleasure boats, with unmatched quality and construction. This Company has established "worldwide" recognition for craftsmanship, quality, safety and design. The high quality tooling, is evident in the appearance of every aspect of the boat. The structural integrity of the vessel has been well tested and no structural issues exist. Boats range from 18 to 30 feet in length and are powered in both outboard and inboard/outboard configurations. This high quality, well-known, fiberglass, fishing or pleasure powerboat manufacturing business is desirous of either of two scenarios: 1. Sale of the ongoing business to include proprietary manufacturing procedures and molds, as well as the option to purchase the building and property (23.54 acres). Or; 2. Secure investment capital to achieve the potential growth outlined in the Business Plan. Financial Summary: Sales: 2002 YTD annualized - $1,075,000 SDC: Not disclosed Sales: Per Business Plan Prospectus for 2003 - $1.95 Million SDC: Per Business Plan Prospectus for 2003 - $260,000 Assets: Machinery and Proprietary Molds - $462,000 Current (WIP) Work in Process: Qty. of Boats Size $ Value 2 30 Ft. $170K (w/o Power) 4 18 Ft. $ 40K 2 23 Ft. $ 36K 1 19 Ft. $ 22K 1 18Ft. $ 19K 1 23Ft. $ 24K TOTAL # Boats - 11 Total $ Value- $311K Backlog: $80K (In-house) $325K (Pending contract signatures) BUSINESS FACTS PREPARED BY OWNER The Industry Trade Name is known mostly for high end, high quality, 30 Ft. power catamarans. This high-end boat manufacturer enjoys both a national and international clientele. Boats range from 18 to 30 feet in length and are powered in both outboard and inboard/outboard configurations. The unique series of boats are constructed in a special manner, using state-of-the-art, as well as conventional manufacturing methods. This boat is known throughout the power catamaran industry as the "Cadillac of the power catamaran". Another series, is conventional V-bottom boats, which are just enjoying introduction into the marketplace and act as a diversification plan. 100% of the sales are Boats, Pleasure and Fishing related. Their "niche" in the marketplace is that there are no other 30 ft. fishing power catamaran boats available in the marketplace at this time. They have their own trade name and it is NOT A FRANCHISE. CUSTOMER BASE: Their non-dealer, factory-direct clients, comprise mostly wealthy sportsman ready to enjoy retirement and spend the day fishing and relaxing in their new "state of the art" power catamaran. Eighty percent (80%) to Ninety percent (90%) are cash buyers who are willing to pay "top dollar" for their new toy. Several buyers have actually ordered these boats over the phone, without ever seeing or riding in one; acting only because of this manufacturer's excellent reputation. Only twenty percent (20%) of the 30 Ft. customers actually seek financing. They actually have one client who will be receiving his second 30 Ft. catamaran boat, in less than two years. They also have one client who has ordered two 30 Ft. boats, one for his home in Florida and the other for his home in Hawaii. This boat is currently being manufactured. MANAGEMENT: The President and Vice President currently manage this business. Both officers are experienced boat builders and "hands-on" managers. The option exists to keep both of these individuals to manage this manufacturing facility. Both officers are extremely motivated and want to take this business to the next level. BACKGROUND AND OWNERSHIP: The assets of the original boat manufacturer were purchased in July, 2001. The former owner was using this boat company as a tax shelter and a yearly tax write off and was facing the "Hobby Law" deadline. This was not his primary business. The sale to the current owners was due to the sale of his primary business and he retired a very wealthy man. FACILITIES: The manufacturing facility currently leases space located in Northern Florida. However, the land and building are available for sale through Global Business Brokerage, Inc. The land is comprised of 23.54 acres, (mol), with three primary building structures. The 30,000 square feet of building space, includes two warehouses/manufacturing structures, as well as a smaller building with an overhead crane or lift used to pull fiberglass boats and boat parts from the molds. Included within one of the larger buildings, is 3,000 square feet of conditioned office space. Building (1.) houses the fiberglass lamination portion of the business. Building (2.) is a smaller building where boats are removed from molds and prepared for assembly. Building (3.) is where the boats are actually assembled. Approximately 6 to 8 acres of land around the buildings are cleared and available for future business expansion. Approximately 16 to 18 acres (mol) of the property is wooded, but future development is possible. Zoning is currently in the process of being changed to "industrial", which will significantly increase the value of the land. At the time the current owners moved into these buildings, a Phase II Environmental Study was conducted and the property was determined to be clean from any hazardous materials. Property is included in sale price. MARKETING: This market is both National and International in size and scope. Currently, they hold a small portion of the market share, but this will grow exponentially with the proper funding and capital investment. The manufacturing facility is capable of doubling the size of this business. This business has all the equipment, facilities, people, assets and location required to become a "major player" in both the catamaran and V-bottom boat industry. What this business lacks is investment capital to develop a national dealer program, including a floor plan and money for advertising and trade shows to develop to its full potential. This is the only powered catamaran manufacturer who provides a lifetime warranty on the structural hull. This in and of itself is a fantastic marketing tool! The word simply has to get out to the market the confidence that this manufacturer has in their boats. FUTURE MARKET: In the boat manufacturing industry, there are only a few catamaran boat builders. Powered catamarans are the FUTURE of the off shore, blue water fisherman. The public is becoming more and more friendly with the catamaran concept. More and more dealers are selling powered catamarans. There are a few other players in the market, but none to date manufacture a boat that rides as nice or has the feel or is the size of these boats. As far as the conventional V-bottom boat line, their strength in this arena is the Trade name which speaks to the serious boat buyer of quality. The simple fact is that they do not have to build or sell as many of these small boats in order to be profitable due to their overall low overhead and higher price structure which are paid for the 30 ft. catamarans. Ultimately, they believe the larger, high quality catamaran, sport-fishing boat would be a lucrative market to grow into, not the smaller catamaran boat market. STAFFING AND HOURS OF OPERATION: This boat manufacturer operates weekly, Monday through Thursday from 6:30 A.M. to 5:00 P.M., C.S.T. They have found that production increased when 4 ten hour days were implemented. Their crew size range from a minimum of seven staff members to as many as thirty, depending on workload. The average man hour cost, including payroll taxes and administrative, insurance and occasional overtime as required is figured at just under $20 per man hour. The actual hourly wage of their employees who manufacture boats in the factory, without burden, starts at $7.00 per hour and the highest paid foreman makes $16.00 per hour. Most employees are paid between $7.00 to $11.00 per hour, non-burdened. EQUIPMENT AND OTHER ASSETS: Information is offered through the Broker, Global Business Brokerage, Inc. and has been provided by the owner. The Broker has all Corporate documents, tax returns, P & L Statements and Business Plan, as well as listings of equipment and other assets. This information is available for review by a financially qualified buyer. Broker has exclusive "Listing Agreement For Sole and Exclusive Right to Sell". LICENSES/REQUIREMENTS FOR NEW OWNER: Neither the county nor the city in Florida requires any licenses to conduct business at this location. REASON FOR SALE: The owners' primary goal is to find an individual or individuals who will either invest, partially purchase or completely purchase this boat manufacturing facility with the sole purpose to grow the company into a larger, more successful, profitable, and multimillion dollar boat manufacturing facility. The current owner does not wish to depart from this new organization, but to help lead and mold it's future success. The current owner loves this Company and feels his job is like no other and would be honored to become a part of the new management team and take it to the next level, so long as the new owner or investment group agrees. Owner's signature regarding the above statements are on file and are true and accurate to the best of his ability and knowledge. AVAILABLE OPTIONS TO BUYER OR INVESTOR: PURCHASE: Total Business: $1,707,770 (Includes Property and Real Estate - 3 Buildings, approximately 30,000 Sq. Ft. - 23.54 acres) - See description above for more detailed information. BUSINESS INVESTMENT: $475,000 initially and approximately $40,000 to $60,000 per month as required for one year, per the Business Plan requirements. Interest participation to be established. For consideration of either option, please contact the Broker (see below). PHOTO GALLERY - COMPLETE DESCRIPTION OF ALL BOAT LINES AVAILABLE THROUGH BROKER (SEE BELOW). Disclosure: Global Business Brokerage, Inc. has on file the signature and the Sole and Exclusive Right to Sell Listing Agreement, Equipment List, Lease and Cash Flow Analysis. Information provided herein has been provided by the seller. Broker has not and will not verify the accuracy or completeness of any information. Purchasers are advised to consult with their legal and financial advisors to the extent they deem necessary. For More Information Contact:
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