Business Description
Top Independent Bait & Tackle on East Coast
In business over 20 years, this upscale bait and tackle dominates its market area and has grown to become one of the most recognized names on the entire east coast.
This isn’t your everyday bait and tackle. The 7500+ square foot retail facility was constructed specifically for this business, complete with an open floor plan, numerous windows, and high ceilings.
The business serves a diverse customer base seeking clothing, gear, and supplies for fishing and hunting activities. Fishing and hunting equipment and supply brands include Penn, Shimano, Diawa, Okuma, and Shakespeare. Clothing and accessories brands include Salt Life, Columbia, Pelagic, Costa, Guy Harvey, Calcutta and Under Armour, and Yeti.
Features:
• Consistent, clean financials with great margins
• Unsurpassed name recognition - highly regarded in the sportsman community
• Skilled sales and service staff with key operations manager in place
• No real competition in market area
• Located in highly desirable resort area
• Loyal customers come back year after year
Perfect for an individual, strategic acquirer, or search fund looking to take advantage of the proven business model, significant brand recognition, and consistent financial results – all with minimal additional investment.
Confidentiality is vital, so be prepared to demonstrate your financial capabilities. Comprehensive marketing package including detailed video overview available upon signing of Non-disclosure Agreement. To learn more, contact Erik Sullivan at MidStreet at (919) 263-2550 or erik@korprazor.com. Real Estate available through MidStreet Realty, Inc.
Inventory
Included in asking price
Furniture, Fixtures, & Equipment (FF&E)
Included in asking price
GROWTH & EXPANSION
Current ownership believes that the Company is ready to go to the next level under new ownership. Built primarily by reputation and referrals, this company could benefit tremendously from an enhanced marketing program. In 2017, the business invested over $100,000 in new point-of-sale and inventory management systems and over $400,000 in a new warehousing facility. The benefits of these capital expenditures have already had a positive impact on the business, but plenty of room for growth and efficiency still exist. A new owner could easily benefit from the booking of fishing charters. The addition of items such as firearms, kayaks, paddleboards, drones, and GoPro style cameras provides additional opportunities.
Facilities
Seller-owned real estate of approximately 7500+ square feet on over an acre with incredible visibility on a heavily travelled road. The building was specifically constructed for this business. Well maintained with great signage, landscaping and layout. Real estate offered through MidStreet Realty, Inc.
Competition
High barrier to entry. While limited competition does exist, this business is by far the largest and most well-known store in the area.
Support & Training
Extensive onsite transition support and call/email support will be made available and are included in the purchase price.
Reason for Selling
The current owner wishes to retire after many years in the business.
