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Seasonal Accommodations And Restaurant Business.
Location Nova Scotia,Canada
Asking Price Range $1.0M - $2.5M
Gross Revenues $800000
Net Profit / Cash Flow $190000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 1977
Number of Employees 35 - 49
Relocatable No
Number of Employees 35 - 49
Real Estate Owned
Reason for Sale Estate Sale
Description We are pleased to present an opportunity to take control and ownership of a very well known and established accommodations business located in one of the primary tourism districts of Cape Breton Island which attracts over 400,000 visitors annually. The area has developed into one of eastern Canada's premiere vacation spots with an abundance of attractions and activities that strike at the very core of what people want to do when they are on vacation and this property is there to make their visit all the more comfortable.
The property and business include:
- Seasonal operation (May - October)
- 50+ units plus vacation homes
- 3.5 Star Rating
- 96 seat Restaurant, 20 seat patio, separate upper level Lounge with seating for approximately 60
- 37 employees, many with tenure
- Policy and Procedures Manuals
- Charting of all Mechanical Systems
- Thousands of dollars of extras!
Complete offering memorandum and full photo summary available to qualified buyers. Minimum equity requirement of $400,000 required to be disclosed and non-disclosure to be completed. All information remains 100% confidential with Gateway. We are a ''Facilitation'' brokerage.
Financial Information:
In pricing the property, we have not taken into consideration the overall 2012 revenues are up quite nicely YOY and are expected to continue till season end. Restaurant sales are expected to end almost 100% over last year. Speak with us to learn why this has occurred and how higher levels can still be achieved than those achieved during the last few years.
Gross Revenues have averaged over $675,000 annually for the last 4 years (2008 - 2011) and will average over $800,000 in each of the last 3 years (2010 - 2012).
Capital Expenditures between 2006 and 2010 = $150,000
Repairs & Maintenance between 2008 and 2011 = $395,000
Seller Discretionary Earnings: greater than $150k average over the last 4 years (2008 - 2011) and expected to average almost $190k
Click Here To Contact Seller
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