SEASIDE COTTAGES & MOTEL - Seasonal Operation - CLICK FOR DETAILS

Listing ID

1146

Print Friendly, PDF & Email

Location

Nova Scotia

Description

A seasonal accommodations business that has received great love and care, located in one of the most desired tourist destinations in all of Nova Scotia and at the heart of where so many want to stay and enjoy this favoured time of year. Waking up to the beautiful water and white sand beach that sits at your front porch and the evening sunsets you will enjoy will be a true blessing enjoyed after a good days work. This can be the ideal lifestyle for many, is it for you?

All units have seen updates and upgrades over the past few years. From a lifestyle perspective, waking up to the beautiful water and sites that sit at your front porch and the sunsets you will enjoy will be a true blessing enjoyed after a good days work.

This business operates from early May - Mid October. Where will you go in winter?

Total of 4 seasonal part time staff required to run, in addition to owner (husband and wife). 3 housekeeping, 1 office staff.

Financial Information

Excellent occupancy year over year, room to increase the rates. Expectation is an owner/operator will be able to generate in excess of $200k per year. Bookings for 2018 are already well ahead of 2017.

- Seller's Discretionary Earnings (SDE) have averaged $205k over the last 3 years, and are trending upward.
- Revenues have averaged over $350k and has been trending upwards with the ongoing improvements and updates the business has received.

SDE are the pretax and pre-interest profits before non-cash expenses, owner salary, one time investments, and any non-related income or expenses. SDE may require expenses be normalized or adjusted if a new owner will be required to take on a new expense.

Minimum Equity Required

$550,000

Real Estate

There are a total of 19 units located on 2.87 acres, serviced by on-site septic and well. There is an additional 3.56 acres where the residential home is located, which includes approximately 3 acres of additional lands available for development.

The purchase of the home would be an additional $200k. Residential mortgage applicable.

Price

$1,329,000 (Shares)

Non Disclosure Agreement

I hereby acknowledge that information regarding the following business(es) and/or Seller(s) is being provided to me in SECRECY AND CONFIDENCE and is to be used solely for the purpose of assessing the prospective purchase of the business(es) through Gateway Business Brokers.

I agree not to disclose any of the information given in connection herewith, either directly or indirectly, to third parties, except direct support people; nor will I use, or assist others to use, any such information for competitive trade purposes or to circumvent Gateway Business Brokers in any transaction or contact with the seller(s). I agree not to make copies of any of the material provided and to return all of it if I discontinue interest in the Business. The material and information furnished is believed to be reliable for the purpose of evaluating the Business. Further, I agree that all inquiries, investigations, negotiations, offers to purchase, and/or letters of intent must be made through Gateway Business Brokers. I agree to protect and not disclose the confidentiality of the information I receive permanently, even if I choose not to purchase the said business.

I agree that any breach of this Non-Disclosure Agreement (the "Agreement"), directly or indirectly, will be harmful to the Seller(s) and Gateway Business Brokers. In consideration for the information given, I agree that the laws of Nova Scotia will govern this Agreement and that all actions that may arise in law and/or equity shall be brought in Nova Scotia.

It is understood that this Agreement also applies to any information previously supplied by Gateway Business Brokers, verbally or in writing. I understand that neither the Seller(s), the Business(es), its officers, directors, employees, nor Gateway Business Brokers ,shall have any liability as a result of furnishing me the material included in this Agreement.

This agreement also acknowledges that the undersigned Buyer(s) has (have) been advised that Gateway Business Brokers provides Client representation for the seller(s) and Customer representation for the buyer(s) in this transaction, as per the terms that have or will be provided. I agree that should I buy, lease or come into possession of the Business, in whole or part, during the listing term or within 1 year from the expiry date of the listing term, Gateway Business Brokers’ right to a fee, as per Gateway Business Brokers’ agreement with the Seller(s), will be deemed earned. I understand I will be personally liable for payment of any applicable fees, as so reasonably determined, if I breach any clause of this agreement. It is agreed, however, that if a purchase is completed with the assistance available from Gateway Business Brokers, I am not liable for a fee.

Non-Disclosure Agreement