Listing Number: 24876-197235
Located along the heart of the sandy Gulf Coast, the business for sale enjoys being the exclusive marine towing and salvage service provider of a nationally renowned company.
Since launching in 2011, the Company has established itself as the "Go-To" boat rescue company. Features National Brand Recognition and Strategic Alignment with the world's leading boat insurance company. Very little competition, and plenty of room for growth.
In 2020, Business is roaring as a result of COVID-19 through Social Distancing mandates as many boat owners have taken to the water to get away from this unprecedented pandemic. Increased boat traffic unfortunately leads to increased breakdowns, but with an annual membership, this company's customers are literally saving thousands of dollars if they plan ahead and purchase an annual membership ahead of time.
In addition to the exclusive licensing agreement that provides consistent and recurring revenues to the business, the company also has great relationships with the local community, Game Wardens, and Coast Guard - whom are quick to refer customers to this business.
Services are comprised primarily of Towing, Ungroundings, Fuel Drops, Battery Jumps, Launch Service Work, and Salvage Services.
Owner currently works approximately 1 hour a week in this business and Owner's spouse approximately 15 hours with duties being: business logistics, towing and boat specific training, dispatching, invoicing, and customer service. Owner will assist in special jobs if needed but has two very experienced captains, who are contractors, paid hourly --while on the job, based on billable hours only.
The business has seen steady growth year after year and started with 1 boat and now operates two main towboats with a 3rd for specialty work.
The business price includes ownership transfer of the areas LSA (License Service Agreement) and two fully-equipped tow/rescue boats. Also included will be all proprietary logistical materials, all necessary vessel equipment, operating manual, and POI Sheet. (Points of Interest)
The seller will provide management assistance as mutually agreed upon between parties.
License Requirements: OUPV Captains License with Marine Assistance Towing Endorsement - new owner can be licensed very quickly, roughly 2 weeks.
May Qualify for SBA LOAN of up to 10 years with as little as 10% down payment.
- Price: $ 276,000
- Down Payment: $131,000
- Sellers Discretionary Earnings: $ 212,989
- Total Sales: $ 329,107
- Location: Alabama
- Inventory: $ 0
- FF&E: $ 0
- Employees: 3
- Year Established: 2011
- Reason for Selling: Other Businesses
- Category: Marine Related