kaelc
Crew Member
I’d look at it but I have two buddies that would be better suited to both finance and run it, one of them is in or was in acquisition mode.
Fishing and Boating Business
- Thread starter kaelc
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kaelc
Crew Member
It would have to have other fisheries and markets to sell to than ours. 60 million anglers in North American and likely 60 million in Europe, not easy markets to penetrate but focusing on salmon would I agree be a fatal mistake. I like the idea of a good boat brokerage but it is a hard business and you would want to rep a high end brand IMHO so would need to be well capitalized which I’m not.
sly_karma
Crew Member
I was flipping through some Sport Fishing magazines this weekend, all 2015-2020 era. They reminded me again that the centre of gravity of the fishing/boating industry on this continent is squarely located in the southeastern US. Only fleeting mentions of west coast and salmon in a dozen issues I scanned through. Dozens of boat tests but not one was aluminum or had a closed cabin. The pacific northwest just doesn't have the critical mass to gain the focus of the industry.
Any business venture in the fishing or boating industry that sits in our part of the world needs to understand that it's entering a niche market right from day 1. This isn't all bad, of course, because despite the smaller pond to swim in - and the smaller range of potential investors - there's little interference from the big players. They see little threat from the side fisheries outside the US gulf states so there isn't the quick savage response to new players trying to get into their market.
Any business venture in the fishing or boating industry that sits in our part of the world needs to understand that it's entering a niche market right from day 1. This isn't all bad, of course, because despite the smaller pond to swim in - and the smaller range of potential investors - there's little interference from the big players. They see little threat from the side fisheries outside the US gulf states so there isn't the quick savage response to new players trying to get into their market.
Whole in the Water
Well-Known Member
How about investing with Butler Bros. to put in some more wharfs and set up a boat launch on their site out past Otter Pt.?
Sooke needs more moorage and especially a decent launch with a large parking lot. I know - wishful thinking...
Sooke needs more moorage and especially a decent launch with a large parking lot. I know - wishful thinking...
kaelc
Crew Member
Might be worth looking at 7 berth moorage, $3500 a month in revenue, maybe more? Still an expensive waterfront in a stagnant market. If someone didn't need the suite or was interested in airbnb both suites while you lived on a boat when occupied, it could cash flow. Can you airbnb in Sindey? https://www.realtor.ca/real-estate/24389624/2290-kedge-anchor-rd-north-saanich-curteis-point
barkerfam
Well-Known Member
I am the owner of Grand Slam Bucktails. Am happy to talk with you about the business. PM if you'd like to share phone numbers. Too much to type!
Kiwi Canuck
Active Member
That's interesting, one of my close friends owns Lyman Lures, he lives in Westbank (West Kelowna) and I have watched his business go through a lot of changes over the years, not all smooth sailing, but believe he has it running pretty good now days.I am the owner of Grand Slam Bucktails. Am happy to talk with you about the business. PM if you'd like to share phone numbers. Too much to type!
Kiwi Canuck
Active Member
That would never cash flow unless you have a bunch of cash laying dormant.
I think the moorage business looks interesting from afar, I wonder what the numbers would look like for building a dedicated marina and running it as a business.
We have a few marinas as clients, we have one that's a very big marina in Horseshoe Bay but I've never talked to them about their business model, but some of them are run more like Co-Ops and always looking for ways to save money.
Once up and running and profitable I imagine it would be a good business to own, it would tick a lot of the boxes listed above in my Unicorn Business sample.
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wolf
Well-Known Member
guess you havent seen it lately ?? lots of docks in there
we used to have a great facility in sunny shores but we know where that is pretty hard to make a year income in a 2 month season thank you trudum, face it fishing is going the weay of the dodo on west coast ... sad reality
I would say Moorage and RV facilities anywhere Campbell River South. There is a shortage of both !
with closures from april 1 to july 15th hard to warrant unless you ant to throw money at stuff .
I can tell you when I went back up to knight inlet in the summer time it was 15 years ago since i was up there and went out of telegraph cove what once was a bustling little thing with LOTS of fishermen was like a ghost town for boats, Mintral island was completly gone ...and the whole time fishing in late june early july I saw 1 other fisherman besides the lodge boats ...
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RiverBoy
Well-Known Member
Hate to be the negative nelly with the Marina moorage thing ; but trying to build any infrastructure on or around the ocean would be a complete bureaucratic nightmare. this is one of the main reasons there are basically two launch points in and around the salmon capital.
The Ken Forde launch spot was not allowed to expand back in the day due to environmental concerns based on the nearby salmon bearing stream . Even dredging on or around the ocean gets everyone up in arms. i also know Browns Bay wanted to expand their boat launch to have a launch and extraction side and they were shut down as well. i have no idea if it was federal or provincial or environment or DFO that shut all this down but trying to go thru all that red tape would be a non starter for me.
The vast majority of the waterfront on or around CR used to be RV spots with boat rental spots on the ocean side. I dont know the details as to why they all slowly faded away but it’s a shame someone didn’t have the foresight to see the uniqueness of the setup and keep the infrastructure relevant and usable for future generations. It’s all condos now.
Like Joni sed “ pave paradise, put up a parking lot.”
edit: i’m only 46 but my “old man yells at clouds “ game is strong
The Ken Forde launch spot was not allowed to expand back in the day due to environmental concerns based on the nearby salmon bearing stream . Even dredging on or around the ocean gets everyone up in arms. i also know Browns Bay wanted to expand their boat launch to have a launch and extraction side and they were shut down as well. i have no idea if it was federal or provincial or environment or DFO that shut all this down but trying to go thru all that red tape would be a non starter for me.
The vast majority of the waterfront on or around CR used to be RV spots with boat rental spots on the ocean side. I dont know the details as to why they all slowly faded away but it’s a shame someone didn’t have the foresight to see the uniqueness of the setup and keep the infrastructure relevant and usable for future generations. It’s all condos now.
Like Joni sed “ pave paradise, put up a parking lot.”
edit: i’m only 46 but my “old man yells at clouds “ game is strong
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kaelc
Crew Member
Nice to see a couple of guys making a run of things! It isn't an easy business
kaelc
Crew Member
Expanding the marina would likely be impossible, but worth looking into. Only one Airbnb listed in Sidney, 400 or so for a suite, but one house in North Saanich with a view of the ferry rents for over 1000 a night. If you could Airbnb the upstairs with a berth for a big boat, you might have a unique offering that the rich would rent every summer. But I don't like the idea of paying a premium for having to run a business out of my home, but with only 6 customers (I would use 1 berth) the headache wouldn't be too bad. $15 a foot doesn't pay for much of the mortgage and $1500-2,000 for the suite doesn't either.
Crazy to look at interest rates and what 3 mill costs these days. In the US they offer 30-year fixed rates, if we had bought Airbnb properties at low rates in good locations they could have been amazing cash cows for decades.
kingblazer84
Crew Member
he needs to go back to yellow cedar plugs and not plastic
Kiwi Canuck
Active Member
I'm assuming you have tried the new lures, from talking with Colin he was surprised how well the new plastic lures worked and how similar they are to the cedar plugs.
From what I understand, it was go offshore for manufacturing or close the business, making the lures in Canada was no longer profitable.
I'm sure he considered having the yellow cedar blanks shipped to the factory overseas but after he received the plastic samples was impressed enough to go that route.
David.
PS I will be buying some to try once I get my boat, so I'll see if they work for me.
Rum Buddies
Well-Known Member
you must hate money!
Sea Chaser
Crew Member
You have any ins at the horshoe bay location? Been on the waiting list for a couple years lol
Cookie's Cutter
Well-Known Member
You have to remember $4 million in the bank gets you $200,000 guaranteed a year now with 5% interest rates. And you don’t even have to get out of bed. That’s why you and your realtor buddies are going to be flipping burgers soon.
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