Fishing and Boating Business

[Matthias]

Very interested in this thread. I sold my business in the seaweed space last year and am looking for something new, again marine related.
I have first hand experience in the CPG space and understand the economics and potential of an online company (like westcoast fishing tackle). From a lifestyle perspective, I'm drawn to the marina business (real estate on water?). Would certainly like to dive a bit deeper on this.
I am keen to grab a beer and just brainstorm/chat about business. I'd prefer to go fishing but that can be a second date .

 

[kaelc]

Does anyone know where these two retail stores for sale are? The flag ship store is 5,000 sq ft. The other is 1,500 sq. ft. Asking price seems very steep for retail but nice to see they are online. https://canada.businessesforsale.co...ckle-stores-in-british-columbia-for-sale.aspx also a hunting/fishing store in West Kelowna https://canada.businessesforsale.co...lated-businesses-for-sale-in-british-columbia

 

[Unreel]

Very interested in this thread. I sold my business in the seaweed space last year and am looking for something new, again marine related.
I have first hand experience in the CPG space and understand the economics and potential of an online company (like westcoast fishing tackle). From a lifestyle perspective, I'm drawn to the marina business (real estate on water?). Would certainly like to dive a bit deeper on this.
I am keen to grab a beer and just brainstorm/chat about business. I'd prefer to go fishing but that can be a second date .

Check out this listing

76 Marina Dr, Thetis Island, British Columbia V0R2Y0

www.realtor.ca

I know this marina pretty well, used to be very busy and well know in the area.

 

[Aquaholic]

Check out this listing

76 Marina Dr, Thetis Island, British Columbia V0R2Y0

www.realtor.ca

I know this marina pretty well, used to be very busy and well know in the area.

I thought RVYC bought this as an out station?

In my early teens I worked at Thetis Island Marina, the competition to this one just down the channel, opposite side. The number of American boats that came up to the area was impressive. This one for sale is at the end of the no wake channel but was a beautiful setting.

You can navigate through that narrow channel on a reasonable tide between Thetis and Penelakut (Kuper) to get to Trincomali Channel, as a short cut.

 

[kaelc]

I thought RVYC bought this as an out station?

In my early teens I worked at Thetis Island Marina, the competition to this one just down the channel, opposite side. The number of American boats that came up to the area was impressive. This one for sale is at the end of the no wake channel but was a beautiful setting.

You can navigate through that narrow channel on a reasonable tide between Thetis and Penelakut (Kuper) to get to Trincomali Channel, as a short cut.

Keep us posted if it has. It seems like an under promoted or unknown destination that looks amazing. I was born on the island and only learned of thetis learning to fly, about 7 years ago and didn’t know there was a marina there until 2022. So many gulf islands it might be tough to differentiate and compete against salt spring, pender etc

 

[Aquaholic]

Keep us posted if it has. It seems like an under promoted or unknown destination that looks amazing. I was born on the island and only learned of thetis learning to fly, about 7 years ago and didn’t know there was a marina there until 2022. So many gulf islands it might be tough to differentiate and compete against salt spring, pender etc

I meant years ago it was rumoured to have been bought by RVYC. There are still 2 marinas there, the other one where I worked is closer to open water, so people just needing fuel or a bite to eat and on their way would stop at Thetis Island Marina, those wanting to moor for a few days would carry on down the no wake channel to Telegraph.

You could promote it like RV spots for boats in the season. They held rendezvous there too, like Tolly, Ranger Tug etc.

I used to use my 12’ aluminum boat with a Merc 7.5 to get to work and back. Living the dream as a teen.

 

[Unreel]

I thought RVYC bought this as an out station?

In my early teens I worked at Thetis Island Marina, the competition to this one just down the channel, opposite side. The number of American boats that came up to the area was impressive. This one for sale is at the end of the no wake channel but was a beautiful setting.

You can navigate through that narrow channel on a reasonable tide between Thetis and Penelakut (Kuper) to get to Trincomali Channel, as a short cut.

It’s had a few different owners over the last decade. Just take a look at the Google reviews tells you a lot. It’s a great location and can handle large yachts. Sounds like they stopped bothering with fuel though so there’s some lost revenue. I’d be curious to know the zoning and if you could build some small cabins for airbnb type of deal on the adjoining lot.

 

[noluck]

Check out this listing

76 Marina Dr, Thetis Island, British Columbia V0R2Y0

www.realtor.ca

I know this marina pretty well, used to be very busy and well know in the area.

great looking spot

 

[DirtyDog]

Does anyone know where these two retail stores for sale are? The flag ship store is 5,000 sq ft. The other is 1,500 sq. ft. Asking price seems very steep for retail but nice to see they are online. https://canada.businessesforsale.co...ckle-stores-in-british-columbia-for-sale.aspx also a hunting/fishing store in West Kelowna https://canada.businessesforsale.co...lated-businesses-for-sale-in-british-columbia

The one listed at 2.9 sounds like it could be Fred’s in Abbotsford and Chilliwack.

 

[ab1752]

I think that's Fred's too. The issue with a business such as tthat is there is a huge amount of loyalty to the current owner so there had best be an earn out element where the current owner is vested in staying on in a reduced capacity to soften the new owners landing.

 

[kaelc]

I think that's Fred's too. The issue with a business such as tthat is there is a huge amount of loyalty to the current owner so there had best be an earn out element where the current owner is vested in staying on in a reduced capacity to soften the new owners landing.

Thanks! Wonder what others think about the valuation. 4X earnings for retail?

 

[ship happens]

The thesis island propert was for sale a couple years ago for half that price. Can't remember exactly but it was less than 2 million. I think that's the only marina in the entire area with fresh water at the dock if I remember correctly. Which is why it gets lots of traffic at the fuel dock there.

 

[ship happens]

I meant years ago it was rumoured to have been bought by RVYC. There are still 2 marinas there, the other one where I worked is closer to open water, so people just needing fuel or a bite to eat and on their way would stop at Thetis Island Marina, those wanting to moor for a few days would carry on down the no wake channel to Telegraph.

You could promote it like RV spots for boats in the season. They held rendezvous there too, like Tolly, Ranger Tug etc.

I used to use my 12’ aluminum boat with a Merc 7.5 to get to work and back. Living the dream as a teen.

You might be right on that. I might be getting the 2 mixed up. Think I'm thinking of the marina/resort

 

[ab1752]

No where near enough info to apply a valuation multiplier. If I was looking at this business, I wouldn't move a muscle until going in on my own secret shopper mission to both locations and see how they do business first hand from purchase through return. I know that supply chain smoked a lot of tackles subcomponents too.

 

[kaelc]

I agree; visiting the business, buying from, calling and seeing their processes tells you a lot. If employees are positive and switched on to customers that is a huge advantage.

 

[wildmanyeah]

The one listed at 2.9 sounds like it could be Fred’s in Abbotsford and Chilliwack.

seems like it

Fred's Custom Tackle, a local landmark established in 1978, is located in the heart of the Fraser Valley in Abbotsford and Chilliwack, British Columbia, Canada world renowned for salmon, steelhead and sturgeon fishing.

 

[wildmanyeah]

Thanks! Wonder what others think about the valuation. 4X earnings for retail?

I wonder if the inventory valuation is the retail cost or the wholesale cost he payed for it.

 

[ab1752]

Speaking of, did Berry's ever sell?

 

[ship happens]

Yeah Barry's sold almost 2 years or more ago now. If my memory serves me right

 

[Aquaholic]

Yeah Barry's sold almost 2 years or more ago now. If my memory serves me right

You can tell when you walk in. A few old guard types are there but lots of fresh young owner faces. I know a retired home inspector that now works there part time too.