19 unit Motel - Click for Details

Listing ID

1191

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Location

Nova Scotia

Description

Located in a beautiful and historic setting, this seasonal 19 unit Motel with 60+ seat restaurant/lounge has been established and successful for nearly 40 years and has provided a stable income base for each of the owners over the years.

Nestled amongst nature and a stone's throw away from many beautiful beaches and attractions, no wonder this property is a favourite amongst locals and visitors alike. The property has seen many updates in recent years, from furnishings, flooring, bathrooms, kitchen upgrades, etc., which has resulted in an increase in 4 & 5-Star reviews on tripAdvisor, Trivago, Booking, Kayak and other travel sites.

Mostly, the business is operating only half the year, however, should there be construction projects in the area during the off season, the property can quickly open to accommodate same. Do not worry, there are always a couple of winter months' vacation time, providing a well-balanced lifestyle and quality return on investment.

Prospective buyers will recognize several major projects near starting that would have a significant impact on this business. Let's connect to discuss further.

This property has received much love and attention over the past years with close to $100k in capital improvements.

Financial Information

2019
Revenues: $342,421
SDE*: $79,644

Average past 3 years: Revenues $311,207 - SDE $71,354

The sale price considers $0 in debt and a $0 working capital calculation.

* SDE - Seller's Discretionary Earnings are the pretax and pre-interest profits before non-cash expenses, owner's benefits, one time investments, and any non-related income or expenses. In addition, SDE may require that expenses be adjusted if a new owner will necessarily need to take on a new expense.

Minimum Equity Required

$250,000

Real Estate

19 units located on 5.4 acres of land.
- town water and sewer
- property has been migrated
- oil fired hot water, heat pump in restaurant.

One of the units is currently not being used, however, quickly could be. There is a winterized home on property which was once the previous owners' family home (3 children). There are 3 bedrooms and 1 bathroom. To be used for a family once again, expect some renovating.

Price

$629,000 (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