Sailing Catamaran Charter Business For Sale

Business description

Summary
Blue Dolphin Sailing Inc, a Costa Rican corporation (S.A.) is a day charter tour business in Playa Tamarindo, Costa Rica. This business is established, turn-key and profitable in a high growth area. This business is being sold due to the owners’ desire to pursue other business and personal interests. The owners have a philosophy of sparing no expense when it comes to reinvesting in the vessel to maintain both appearance and integrity. A strong customer service and detail oriented work ethic have helped this business to become especially reputable within the local community.
History
The business started operations in December of 2003. The business has been profitable since the first year and has grown steadily since its inception. The vessel is equipped for day charters for up to 35 passengers. The business was home operated until June 2006 when an office was leased near the boat launching point and downtown Tamarindo.
Structure
The business operates 10- 11 months out of the year, 7 days a week in the highest season, 5-6 days week during the other months. The business is usually closed part of May and/or October. This is low season as well as rainy season. December through April is the busiest season with another “mini high-season” coming in the summer months.
Currently there are 6 employees: 1 Captain, 1 Mechanic/Alternate Captain, 3 Crew and an Administrative Manager. Current basic operating costs run about 8k a month with the biggest expenses being payroll, hull insurance (optional yet prudent) and vessel registration fees. Additional costs based on actually running the tours can bring expenses up to 20-25K per month. These additional costs are additional payroll, food/beverages, t-shirts (given free to all passengers), ice, gas, etc.
The logistics of the business are well structured: The catamaran is moored in the bay so there are no marina fees, only a monthly security payment (currently $75.00). Our office is conveniently located in the Iguana Surf building/Kahiki Restaurant and very close to the meeting spot for the tour. Tours are booked through hotels, local operators, and via the internet as well as directly with the office.
The Market

The outlook for the business is very positive. They are well positioned in the local market and current growth trends should ensure that business continue to increase. There are many obstacles and expenses that prevent additional competition such as a 30% import duties on all foreign vessels and the time it takes to acquire all legal permits necessary to operate.

Although generally operating at full capacity during high season, there is a tremendous opportunity to improve on this already profitable business with little additional investment: simply adding a morning tour. Many charter vessels in other top tourist destinations operate 2 trips daily, doubling income by doubling passengers. This business has only operated 1 regular trip per day. This additional revenue can be realized through strategic marketing and alliances with new tour wholesalers and event coordinators. There are multiple mega –projects under current development in the Guanacaste area and the town of Tamarindo is growing rapidly. A JD Marriot is going to open later this year in the nearby town of Pinilla to the south and in Brasilito to the north, construction is starting on a Hilton Resort. Both of these resorts are excellent potential customer sources that would add the company’s already strong base within the community.

Complete company financial data will be provided to qualified buyers. This business generates a 6 figure income.

Price
The business and all assets can be purchased for 525k. The owners are seeking a cash sale. The price includes Blue Dolphin (approved for up to 35 passengers), a 21ft. Apex hard bottom inflatable center console with a 100hp., inventory, office lease and equipment, Mercedes Benz passenger van, advertising, website, brand, and current reservations. The sellers agree to train and give full support to the buyers for one month after purchase, however this time frame is negotiable.

EQUIPMENT AND VESSEL OVERVIEW:
The vessel is an offshore 39ft. Catamaran, Kurt Hughes design built in West Palm Beach, Florida by owner and a boat builder from Hinckley Yachts, using West Systems Epoxy over closed cell foam year of construction in 2002. This boat was built for safety and performance for the day charter business for up to 35 passengers. Wide open deck with two trampolines forward, and one trampoline in back. It was US Coast Guard approved, before being de-flagged and changed to a Costa Rican vessel. The boat has all safety equipment required by US and Costa Rican Coast Guards. Equipment includes VHF radio, EPIRB (Emergency Position Indicating Radio Beacon), custom Bose Stereo system, Horizon Speed/Depth/Wind velocity, fresh water showers, push button electric head, multiple self tailing Harken winches for ease of sailing with a small crew. Two Honda 50 HP Outboard motors - hydraulic lift and four stroke (really quiet!). New paint in 2006, this boat is in excellent condition. There is no better boat on the coast of Guanacaste set up for day charters. This company also comes with a 21ft. Apex harbottom inflatable center console with a 100hp. Yamaha motor that is used as support and ferry craft. There is also a 11ft. inflatable dinghy with a 15hp. Yamaha motor. There is snorkeling gear for 35 passengers and fishing gear, 3 Ocean Kayaks and other gear for passenger entertainment. Also included in the company is a 1999 Mercedes Benz 11 passenger van painted with company graphics and logos.

Property information

Location:

This businesses operates out of Tamarindo Bay, with an office nicely situated about 150 meters from the beach.

Other information

Expansion potential:

Huge expansion potential with hardly any additional investment

Competition / Market:

There are 2 other charter businesses in Tamarindo. We have the lion's share of the business

Support & training:

Three months full support and training

Reasons for selling:

Owners are moving on to different projects.

Trading hours:

9-6

Website:

www.sailbluedolphin.com/forsale

Contact the seller