For Sale
Driven by the hiring of a new and fully productive technician, plus market-wide increases in shop labor rates that are at minimum sustainable and likely to have further room for improvement, business Sales & SDEs are both up 30% year after year! Carrying a six-month backlog of pre-scheduled work from a loyal base of repeat clients that represent around 80% of their revenue, the company offers a wide range of marine services for powerboats and retail parts sold at their storefront. With a strong reputation exceeding 25 years and known for its high-quality standards, projects include repair, boat storage, launch, or retrieval and can be provided on-site in a purpose-built facility, as well as off-site via mobile capabilities.
Thanks to protective zoning restrictions keeping competitive entrants with similar capabilities from being permitted within a 20-mile radius, the business is positioned as the only provider to marine operations, fisheries, shellfish farms, native tribes, government entities, and coast guards in the county. Due to the ongoing size of backlog from existing customers, there is potential to grow profit streams further by hiring extra-trained technicians experienced in major OEMs to meet an excess demand from newer clientele needing consistent service.
Proving faster turnaround times, excellent customer satisfaction through a consultative solution-focused approach, and needing little to no marketing efforts, Revenues totaled $685K in 2023 alongside discretionary earnings of $266K. Including $315K of extensive inventory and $200K of shop equipment in the purchase price, with a property also available for separate sale, the business also possesses multiple recession-resistant strategies that historically increased profitability during economic crises. Through their comprehensive portfolio of products, ample credibility, and longtime relations with key suppliers, verbal referrals and recommendations bring in a stable flow of inbound requests from big-income residents within the Seattle metro area owning second homes or retirees in the Puget Sound.
