Annual Revenue: $475,000
Minimum Equity Required: $1,000,000
Location: Nova Scotia
Listing ID: 1240
Listing Status: New
The timing could not be better for someone who understands the trends in the golf industry! If you're passionate about golf, people, the outdoors, or are a service minded entrepreneur seeking a seasonal lifestyle business in a wonderfully supportive and growing community, then this golf course may be worthy of your investigation. Here are a handful of reasons why this golf course is ideally set-up for a new owner to keep it as is or take it to the next level:
1. Tremendous asset base with almost all new course management equipment
2. Clubhouse has been masterfully built, in excellent condition, and significantly under utilized
3. There has been absolutely zero event business (Weddings, Corporate Events, Tournaments, etc.) which would easily add $250k - $500k in additional business, being $75k - $150k to the bottom line.
4. The kitchen has not been in operation for several years, yet all the professional equipment, inspected, and there and set to be used.
5. There is not a pro shop, so no retail items being sold.
This business is currently a Husband and Wife team and run with just a few staff. The husband is primarily the grounds keeper and the wife is primarily the host and administrator.
The sale is structured as a sale of 100% of the authorized and issued share capital of the company. Working Capital shall be adjusted at $0. By completing the NDA and becoming a qualified buyer, we'll be happy to send you a full Offering Memorandum that will answer most all of your questions.
Revenues averaging $475k over the past 3 years, almost entirely green fee, power carts, and membership.
2021 Revenues $562k (we believe pricing on green fees and carts can be increased 20% without any negative impact)
Seller's Discretionary Earnings for 2020 was $180k. 2021 expected to be even better.
* Seller's Discretionary Earnings (“SDE”) is a calculation of the total financial benefit that a single full time owner-operator would derive from a business on an annual basis. It is also referred to as Adjusted Cash Flow, Total Owner's Benefit, Seller's Discretionary Cash Flow, or Recast Earnings.
** Our expectations are for a minimum 40% down payment on the final negotiated purchase price, with the balance being financed over 20 years. We're thinking around $9k per month to cover the mortgage. Obviously, the house could attract a residential mortgage at a much lower interest rate and much higher loan to value. Feel free to run some of your own calculations here:
There is over 200 acres of land with the opportunity to easily subdivide 7 lots for residential home building, some are already subdivided.
There is room to add a 100 site RV park or seek further residential subdivision.
There is a 3 bedroom bungalow + developed basement and double garage included in the sale.
On site well and septic, more than sufficient.
All out buildings necessary for storage.