This well-established Fish Market has been in the family for 60 years and has been selling to the public since 1991.
This Fish Market has a long tradition of excellence and has stood out by the attention they pay to their customers; serving the public, local restaurants and shipping seafood from coast to coast.
Here you will find abundant seafood products with incredibly knowledgeable employees. Among the products you will find for sale are shrimp, scallops, lobsters, snow crabs, fish, mussels, oysters and much more. Every day their customers enjoy an array of fresh products from the local fisheries. You can also buy your ready-to-eat lobster as a "take-out" and have the experience of eating it by the water with fresh breezes from the local bay.
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, if not all, of your questions.
$1,100,000 plus inventory.
2022
Revenue: $1,500,000
SDE: $290,000
2021
Revenue: $1,450,000
SDE: $310,000
2020
Revenue: $1,320,000
SDE: $310,000
2019
Revenue: $1,315,000
SDE: $250,000
** 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. SDE is the pretax and pre-interest profits, before non-cash expenses, owner's benefits, one time investments, and any non-related income or expenses. SDE may require that expenses be adjusted if a new owner (Purchaser) will necessarily need to take on a new expense. SDE 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. Feel free to run some of your own calculations here:
https://www.bdc.ca/en/articles-tools/entrepreneur-toolkit/financial-tools/business-loan-calculator
The property includes three buildings - the shop, a house with garage, and a freezer building.
