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Custom Boat Builder & Marine Dealership For Sale

San Benito, Texas
Asking Price:
$360,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$775,000
Cash Flow:
$85,000

Cougar Marine USA is a small 17 year old custom boat builder and full service marine dealership that has been awarded the "Best New Boat Manufacturer & Dealer" locally for the last 6 years in a row. For the 2018 model year Cougar offers 27 models and 37 sizes of 100% composite and carbon fiber shallow water bay and flats boats. We are an OEM/dealer for Tohatsu and Suzuki outboard motors and McClain Trailers. Besides boat, motor and trailer sales, service and repair, we also offer complete fiberglass repairs, modifications and custom commercial fabrications. Our other in-house services include custom aluminum marine towers, seating, platform fabrication and repair; custom marine upholstery and canvas; vinyl graphics as a "One Stop Shop" for all marine needs. Additionally, we do docks, boat lifts, and our copyrighted fiberglass/reinforced pilings.
Our leased facilities include 7500 square feet of production, service and storage areas as well as ample outside boat parking and storage areas.
Owners have intentionally restricted the growth of the company to keep it small but it is prime for expansion as desired. Owners are selling to re-retire, and the primary person is willing to stay on for training and a smooth transition for up to one year with no salary.
Annual sales range from $650K to $900K (this year) with an average cash flow of 12 to 15 percent cash flow after tax. Business to include all molds, tooling, patterns, materials and parts inventory, equipment, special tools, work boat, forklift, and proprietary knowledge and processes.
The business will be sold debt-free at closing. Selling price $360K.

Further information available upon request, please contact seller below for more details.

Property information

Real Estate:

Lease

Lease Terms:

1 year lease with renewals.

Leasehold Rent:

30K per annum

Location:

Located on US Business Hwy 77 between San Benito and Harlingen. Street is heavily trafficked 4 lanes with center turn lane. Facility is mid way between McAllen and South Padre Island, 40 minutes from the Lower Laguna Madre bay and Gulf of Mexico, and 6 miles from the Mexican border and Free Trade Bridge.

Premises Details:

7500 SF metal building with concrete floors for production, assembly, rigging, service along with an air conditioned office, parts room and restroom. Approximately 200 feet of paved entry with boat parking on both sides and concrete parking lot at building.

Size in square feet:
7500 SF under roof

Business Operation

Expansion Potential:

Having previously owned and retired from one of the largest custom fiberglass and composites plants (and the headaches that go with it), we chose to keep Cougar Marine USA relatively small, easy to manage where we could offer top quality boats and customer service. At our age we didn't want to expand and possibly relocate the business even though we knew it would easily be a big success and very profitable. This we will discuss at length with a prospective buyer.

Competition / Market:

Boating and fishing in south Texas along the Gulf coast is a major sport and recreational activity with approximately 30,000 boats in the general area. There are 4 primary boat builders: Cougar Marine USA, Dargel Boats, Shallow Sport Boats and Shallow Stalker Boats. Since Cougar builds custom boats to order and our competitors only do on occasion, thus we do not see them as competition. We have a special, small nitch in the new boat market.
As for boat, motor and trailer sales, service and repair, that area of the business continues to grow as more and more customers have bad experiences elsewhere and are referred to our company by our many satisfied customers.

Reasons for selling:

Re-retiring.

Trading hours:

M-F 8:30am to 5:00pm. Offsite work on weekends, such as docks, boat lifts and piling installations.

Employees:
6-9
Years established:
Started in 2000

Other Information

Support & training:

I have 49 years experience in the fiberglass and composites industry having designed and fabricated tens of thousands of products. Additionally myself and staff are certified and factory trained outboard technicians. I am willing to stay on with the new owner for training and marketing purposes for up to one year without a salary. After that I am willing to offer my services in boat/product design, marketing and establishing a dealer network if desired.

Furniture / Fixtures value:
$1,000,000 - included in the asking price
Inventory / Stock value:
$60 - included in the asking price
Website:
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Relocatable:
This business can be relocated.

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