Successful Cruise Charter Company In Mauritius For Sale

Business description

INTRODUCTION

This is by far the most successful Cruise Charter Company operating out of Grand Bay -- Mauritius' bustling tourism center and the gateway to the magnificent Northern Isles.

Company assets include two custom-built 39ft catamarans imported from Cape Town in 2008 and 2009 respectively. Both catamarans are identical in design: they are spacious and modern vessels, built for comfort and performance. Each catamaran is licensed to carry 42 people.

The company also owns one 25ft speed boat built locally and ideal for coastal and lagoon excursions, fishing, dolphin/whale watching and water skiing. The speedboat is licensed to carry 12 people. All vessels are maintained in a brand new state.

We have partnerships with numerous hotels, tour-operators and corporate groups which would automatically extend to the new owner.

This is a unique opportunity for an investor seeking a potentially high-return on investment in a country known for its political stability and friendly foreign investment environment.

HISTORY

The company is young, having been in operation for approx. 3.5 years. It was established in June 2007 and operations began on 29 October 2008 with our first catamaran. Our second catamaran started operating on 13 April 2009. Our speedboat became operational on 14 July 2009.

ASSETS

The acquisition of the company’s main assets (including the construction of two catamarans and one speedboat) began in November 2007 and ended in July 2009. Hence the developmental phase of the company lasted 24 months.

Company assets, both tangible and intangible, include:

• Company license and a strong Corporate identity (along with a range of office stationery)

• Two brand new, custom-built, 39ft charter catamarans imported from Cape Town. Both catamarans are identical in design: they are spacious and modern vessels, built for comfort as well as performance. The technical specifications are also available on our website. A full inventory of the vessels is available on request.

• One brand new and extremely versatile 25ft Pro2000 speedboat built for lagoon cruising and offshore travel, ideal for deep sea fishing, dolphin/whale watching and water skiing. It is powered by two 90 HP Evinrude E-Tec engines (also brand new). It has two dining tables (one at the rear and one at the front) which when lowered become spacious sundecks. It is equipped with a bar, a fighting chair, four (4) fishing rod holders, a ski pole, a diving platform with ladder, an arch with canopy, a VHF unit (NAVICOM RT-550) and a Raymarine A60 GPS/Fish finder. It is covered with superb upholstery in our corporate colours.

• Three (3) boat surveys and commercial licenses – the licensed carrying capacity is 42 PAX for each catamaran and 12 for the speedboat.

• A range of top-quality marketing tools: website, brochure, leaflets, posters, magazine adverts, gift vouchers, cruise rewards, an extensive photo bank developed over 24 months, and videos.

• Established partnerships with a range of tour-operators, hotels and corporate clients

OPERATIONS

The company offers a wide range of cruises along the north, north-west and western coast of Mauritius. We offer island discovery cruises to the northern isles, sail & dive cruises, deep-sea fishing cruises, dolphin & whale watching cruises (dolphin are present 95% of the time), multi-day cruises, sunset and moonlight cruises, evening dinners or parties, and corporate cruises. We are the only cruise charter company in Mauritius covering both the western and the northern coast, thanks to the high-performance design of our vessels.

A significant portion of our market if the domestic market, which is highly reliable and spread over the 12 months of the year, which assures us a significant revenue even in the lower tourist season.

We operate year around, 7 days a week, except when the weather is poor. Since the beginning of our operations we have operated 29 days a month on average, which included an 8-day break in the early part of February 2009 due to a tropical storm (the only serious storm to hit Mauritius in the past 36 months).

A major factor in the success of our business was the launch of our website (in September 2009), which has literally sent us into orbit. Today, over 50% of our revenue is generated through our website. The rest of our business is generated through our partnerships with tour-operators, hotels and the local corporate sector.

Our comparatively large vessel capacity enables us to meet the demands of large corporations looking to organizing outings for their employees. The ownership of two catamarans (as opposed to a single one) also affords us much flexibility.

COMPANY VALUE AND ASKING PRICE

The business is valued as follows (in Mauritian Rupees): (1) certified capitalized value of three vessels (Rs 24,000,000), (2) goodwill (boat permits, client base including partnerships with tour-operators, hotels and corporate clients, a range of marketing tools and a highly trained staff (Rs 8,000,000) and (3) expected future profit earnings over the next 5 years (Rs 40,000,000), for a total value of Rs 72,000,000.

Our asking price is Rs 40,000,000, which is considered a very low-cost entry into Mauritius’ lucrative catamaran charter industry. This price is calculated as follows: (1) Certified value of the three vessels (Rs 24,000,000) + (2) Goodwill (Rs 8,000,000) + (3) expected profit earnings over a single year (Rs 8,000,000). The price also includes a 3-month handover by the Managing Director.

Based on current figures, this business offers a 20% return on investment.

OFFICE LOCATION

Fantastic seafront location overlooking all three vessels, with 4 bedrooms and direct access to a near-secluded beach. Rent is an absolute bargain at Rs 38,000. Can serve both as home and office location for the owner (as is presently the case). Photos available.

EXPANSION POTENTIAL

Unlimited! Currently we mainly offer cruises along the northern and western coastlines of Mauritius; operations can be expanded to the east and south through additional marketing with hotels and tour operators. There are many additional potential partners among tour operators and 4 - 5 star hotels that we have not yet approached. The company has enormous potential for expanding into our new niche markets which we have just begun to exploit such as the sail and dive market, deep-sea fishing market, and the sail & golf market. We are pioneers in all of those areas for which our current partners (tour-operators, hotels) have expressed great interest. .

COMPETITION / MARKET

There are several cruise companies operating in Mauritius and from Grand Bay, but our company has built major competitive advantages over the rest of the field, thanks to the quality of our vessels, the friendliness and professionalism of our staff, the high reputation of our service on-board, our willingness to offer a personalised service, and our pioneering spirit which has led us to venture into untapped markets.

Property information

Real Estate:

Lease

Living accommodation:

Fantastic seafront location overlooking all three vessels, with 4 bedrooms and direct access to a near-secluded beach. Rent is an absolute bargain at Rs 38,000. Can serve both as home and office location for the owner (as is presently the case). Photos available.

Location:

Grand Bay, Mauritius

Other information

Expansion potential:

Unlimited!
Currently we mainly offer cruises along the northern and western coastlines of Mauritius; operations can be expanded to the east and south through additional marketing with hotels and tour operators. There are many additional potential partners among tour operators and 4 - 5 star hotels that we have not yet approached. The company has enormous potential for expanding into our new niche markets which we have just begun to explot such as the sail and dive market, deep-sea fishing market, and the sail & golf market. We are pioneers in all of those areas for which our current partners (tour-operators, hotels) have expressed great interest. .

Competition / Market:

There are several cruise companies operating in Mauritius and from Grand Bay, but our company has built major competitive advantages over the rest of the field. We are also constantly pioneering new cruises, including catamaran diving and deep sea fishing cruises and most recently our multi-day live-aboard cruise around Mauritius.

Support & training:

One month for training and hand-over

Reasons for selling:

The main partner who is also the only managing partner will soon be moving to Australia while the rest of partners are getting involved in new endeavors for which they need to recoup their capital tied up in the company.

Trading hours:

09h00 - 16h30 for day cruises, 17h00 - 21h00 for sunset or dinner cruises.
The day's work for the owner often ends at 8:30am once the boats are gone for the day.

Website:

www.passionoceane.com

Related documents:

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• A Unique Investment Opportunity

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• 12-month Cash Flow Forecast

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• Technical specs of catamarans