Freehold Retailer And Service Provider Of Marine Fixtures For Sale

Business description

Freehold Retailer, Distributor
& Service Provider of Marine Fixtures and Fittings for Boat Builders

Established for over 60 years, this superb family run business is a niche Marine
Retailer, Distributor and Service provider, located in the heart of the marine industry on the South Coast, and benefiting from recently built freehold premises.

The company provide high quality prestigious brands, which encompass Rigid Inflatable Boats (RIB’s), fishing boats, day boats and Outboard Motors, for both the domestic retail market as well as long term established trade customers.
They also distribute other products and boats within the UK and Europe.
The company has a strong brand image and has a sound infrastructure.
They are members of the British Marine Federation and the Boat Retailers and Brokers Association.

The business has two workshops, one specifically for the preparation and fitting out of new craft, and the other, with closer access to water facilities, offering full service and repair facilities. When needed, both sites can interchange and adapt to the current work schedule, with the engineers capable of adapting to the workload.

Other aspects to the business include a full parts service with many orders exported, a very profitable Brokerage division, RYA training, Boat Share, Canoes & Kayaks, Water toys, Electronics and fishing gear.

The main freehold premises accommodates the Showroom, Parts, Administration and one of the workshops, which offers a large car park for both staff and customers as well as a large storage Yard and display yard.

The company has an excellent reputation both locally, nationally and internationally, and over the years have acquired a large and loyal customer base.

Equipment:

The business is fully equipped with all the essentials as well as the necessary safety and security equipment.

Customer Service:

The business has a large and varied client base, ranging from long standing local customers, trade customers from the UK and Europe, large International recognised Boat Builders, commercial customers from the Oil industry, government bodies and rescue organisations to overseas customers and clients.

The company regularly surveys their customers to monitor customer service and marketing results, and are proud of their success. The results of this success are the high rate of repeat business.
Key Strengths:

The Company are regarded as market leaders in their industry and most of their competitors regard the company as the benchmark standard.

With many key brands, and successful products for National and International distribution, they do not rely on one particular income stream, and can be flexible to meet the demands of the market.

The freehold premises are unique in their industry, and highlights their status as prestigious and high quality providers.

Their location is central to the South Coast’s marine industry, and is close to the city, motorway, airport and mainline rail connections.

Financial Information:

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

The turnover of current operation is circa £3,400,000 with gross profit is circa £502,000 and adjusted net profit of circa £212,000. The net asset value is £45,000 and the freehold is valued circa £2,100,000.

Property information

Property:

Freehold

Location:

The business is located on a key location which is next to waterways. The premises comprises of a huge show room, stores, workshop, and two enclosed boat yards sprawling in 1.3 acre land with ample space of parking. The property is freehold and has been valued circa £2.1 million.

Other information

Expansion potential:

Due to the high regard in the industry and loyal customer base, expansion over recent years has been steady. The company has been geared to growth and can facilitate further expansion with the Company 5 year plan reflecting this.

Competition / Market:

Enjoying the benefit of many word of mouth referrals and continued repeat business, the business is active in marketing initiatives via advertising, Shows and Exhibitions

Support & training:

The owner of this constantly growing business will provide full training on all aspects of the business including the proven marketing techniques when the handover takes place and will ensure the successful purchaser is fully conversant with the operation of the business.

Reasons for selling:

The owner has decided to take early retirement.