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This is a rare opportunity to own a magazine publishing business with an excellent reputation. The magazine has been voted ‘the most trusted source of information about yachting and the Caribbean’. The business is currently operated from leased premises in St Vincent and the Grenadines (SVG) but could be run from almost anywhere.
Established over 20 years ago, the owners now wish to retire.
The business was established in 1995 by the current owners. Their goal was to set up a free monthly magazine for the Caribbean sailing and marine recreational market. Their business model was to generate advertising revenues to cover costs and generate profits. It has been successful throughout its life.
The inaugural magazine consisted of 16 pages, but grew rapidly and is currently 56 pages in high season and 48 pages at other times. Various innovations in advertising space have been introduced over the years, e.g. a ‘market place’ with card-sized advertising. Advertising space on the website is available, in addition to that in the magazine.
The content covers all 28 countries and territories in the Wider Caribbean Region and attracts advertisers from 19 different countries, including in recent years Colombia and Panama from the west. All advertising is handled by the small team based in SVG.
Originally the magazine was published in hard copy only, but in 2007 a website and online version were launched. The hardcopy is printed in Trinidad and every month over 5,000 copies are distributed to key locations such as marinas, boatyards and yacht clubs in 16 countries. The on-line version is viewed around the world and whilst the major audience is based in North America; South America, Europe, Russia, Japan, India, South Africa and several other nations all feature in the viewing statistics.
• Revenues US$ 268K (EC$ 715K) (4-year average)
• Gross Operating Profit 47%
• EBITDA c. US$ 90K (c. EC$ 240K)
(excluding owners’ fees and expenses)
• Advertising customer base c. 100 regular advertisers (over 400 on database)
90% are recurring, multi-issue advertisers
30% have been advertising for over 10 years
All areas of yachting and associated services
Well distributed geographically
• Website unique visits 17,000 per month
• Hardcopy circulation 5000 (monthly),
• Readership 2.4x circulation
• Target price US$ 590K (EC$1,593K)
More details available upon request, please contact Neil by completing the contact seller form for more information.
Basically online so could be run from anywhere. Needs distribution of hard copies to Caribbean
In addition to the established business, the owners have identified a number of areas for potential growth and profit enhancement, and whilst they recognise this potential, now is the right moment to retire and allow others to take the business forward. However, the owners will (if required) remain as consultants to the business for a transitional period to ensure successful continuity.
Market and economic studies indicate growth in the market generally and this will help to increase revenues. In addition the current owners have not needed to be proactive in their marketing, but recognise there are a significant number of potential advertisers that could be approached. Advertising rates have not been changed since 2014, so at some point in the next three years, an increase could be achieved. The possibility of paid subscriptions and hardcopies can be explored.
The Compass brand and logo is very well known and so merchandising via items such as caps and polo shirts is well worth doing to add revenue and also further raise the profile of the brand throughout the wider Caribbean.
Finally there is the opportunity for a current business, perhaps in a related sector, to gain access to a very loyal clientele of readers and advertisers, thereby driving expansion. Possible areas are yacht chartering; brokerage services; power boating and related sports; publishing of books; calendars; directories etc..
Magazine with website - so operational 24 x 7
Production time as required
Current owners will provide all training transition services as required
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