Renting golf carts in front of hurricanes in Texas - Acquisitions Anonymous 278
Mar 8, 2024
Exploring the potential acquisition of a successful golf cart rental business in Port Aransas, Texas with a $4 million asking price and $1.1 million EBITDA. Analysis of the business model, seasonality challenges, and competition. Discussion on financing hurdles, climate concerns, and lifestyle opportunities. Highlighting the importance of thorough due diligence in business acquisitions.
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question_answer ANECDOTE
Business Runs on Paper Still
The golf cart rental business is managed with outdated paper records and clipboards despite generating steady income.
This contrast shows a business thriving despite minimal technology adoption or office modernization.
insights INSIGHT
Seasonality Challenges Financing
Seasonality makes financing golf cart rental businesses difficult due to inconsistent cash flow.
In this episode of Acquisitions Anonymous, Michael, Heather and Bill discuss a potential acquisition of a successful golf cart rental business in Port Aransas, Texas. They explore the business model, noting its location in a beach town and its reliance on concierge service and delivery. They discuss the financials, including the asking price of $4 million, the EBITDA of $1.1 million, and the assets included in the sale. They analyze the seasonality of the business, the challenges of financing due to its highly seasonal nature, and the possibility of starting a similar business in a different coastal town. Despite concerns about the climate and the competitive landscape, they acknowledge the potential for growth and the unique lifestyle opportunity the business presents. This episode highlights the importance of thorough due diligence.
Check out the listing here: https://www.bizbuysell.com/Business-Opportunity/Successful-Golf-Cart-Business-with-Property-in-Port-Aransas-Texas/2173339/?utm_source=bizbuysell&utm_medium=emailsite&utm_campaign=shtmlbot&utm_content=headline
Thanks to this episode's sponsor:
Acquisition Lab and their team have been longtime supporters of the pod.
Created by Walker Diebel author of Buy Then Build: How to Outsmart the Startup Game, is an accelerator with a highly vetted cohort-based educational and support community for people serious about buying a business.
Acquisition Lab exists to help people buy a business and navigate all the complexities of the process, as well as provide a trusted framework, tools, and resources to support you from search to close.
If you are serious about buying a business, check out acquisitionlab.com or email the Lab's director Chelsea Wood, chelsea@buythenbuild.com.
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