Marina for sale

4 for Boating · 01-26-2010, 05:36 PM

Also have to agree that this is not Merredith Marine OR They are using a random photo of the lake that looks nice. Verdict still out on which business it might be?

Merrymeeting · 01-26-2010, 05:42 PM

In talking to a marina owner that I know, the winter storage business is one of the biggest money makers. There is surprisingly little profit in the gas part, unless you pump large amounts.

So, storage is a big money maker for the marinas. Whether it would be enough to support all the bills mentioned is another discussion.

LIforrelaxin · 01-26-2010, 06:08 PM

If I had to guess I would say this is Glendale Marine. The Building size is far to small to be any of the other Marinas.....

Now somethings getting mis-represented here.... the purchase price is indeed 1.9 million
However there is 400K in stock merchandise...... now the last time I knew anyone looking into buying a business was many years ago. But as I remember the 400K stock merchandise could not be rolled into the purchase of the business, that was its own seperate short term loan.

Hence the mortgage being carried by the new owner would be more like 1.5 million.....

now they show there sales Revenue as roughly 877K ....... which I would assume includes winter storage income and profits of 275K..... so they say they are opperating on 500K....

something seems very fishy here...... or this business has been in the hands of the same people for years and therefore doesn't currently have a mortgage on it......

brk-lnt · 01-26-2010, 08:56 PM

Quote:

Originally Posted by LIforrelaxin

something seems very fishy here...... or this business has been in the hands of the same people for years and therefore doesn't currently have a mortgage on it......

It is most likely just someone listing a business that doesn't really have a whole lot of experience in buying/selling businesses like this, not likely anything truly "fishy".

I may call on this property tomorrow. My wife keeps telling me she wants me to quit travelling so much, this might be a fun change of pace.

Pineedles · 01-26-2010, 09:20 PM

Although no one knows which marina it is, we are generating alot of free publicity for the sale.

May not be good publicity but we all know the the famous line, even bad publicity...........

codeman671 · 01-27-2010, 01:17 PM

Quote:

Originally Posted by LIforrelaxin

If I had to guess I would say this is Glendale Marine. The Building size is far to small to be any of the other Marinas.....

Now somethings getting mis-represented here.... the purchase price is indeed 1.9 million
However there is 400K in stock merchandise...... now the last time I knew anyone looking into buying a business was many years ago. But as I remember the 400K stock merchandise could not be rolled into the purchase of the business, that was its own seperate short term loan.

Hence the mortgage being carried by the new owner would be more like 1.5 million.....

now they show there sales Revenue as roughly 877K ....... which I would assume includes winter storage income and profits of 275K..... so they say they are opperating on 500K....

something seems very fishy here...... or this business has been in the hands of the same people for years and therefore doesn't currently have a mortgage on it......

Inventory is an asset and could be rolled into the purchase. The main tangeable value of a business is its assets, in this case the real property (real estate) and inventory which I am sure is high because of leftover Manitou inventory. Being a business owner with commercial lines of credit the assets and AR are what is looked at as far as your borrowing power.

They do not own and frontage, this is definitely not one for a develloper. What would they develop? Someone mentioned Silver Sands, no way is this Silver Sands. They would be worth FAR more than that. The real estate alone that they own is considerable.

Excalibur · 01-27-2010, 01:40 PM

Why wouldn't a group of Gilford Island Residents purchase the property and make it a not for profit.

Selling shares to each boat owner who would like there boat stored for valet storage in the summer. Then create another class of shares for Winter storage. The corporation could then hire or lease a on site mechanic to maintain any boats needing service.

Glendale Marine serves many island residents with valet boat service and does not have fuel or there own docking service. They use a trailer or fork lift to launch the boats at the Gilford town docks. In addition a rental boat service and taxi service could be useful. To offer some type of island delivery service.

This would be a great opportunity to a lot of people who struggle every season worrying if someone is going to care for there boat the way they do with out paying so much.

BroadHopper · 01-27-2010, 01:48 PM

The Minge Cove Marina is a good example. The marina became a coop owned and maintained by island residents. The coop rents out the building and gas dock to a marine mechanic who sells gas and service the boats.

01-26-2010, 05:36 PM	#1
4 for Boating Senior Member Join Date: Jan 2006 Posts: 232 Thanks: 1 Thanked 38 Times in 26 Posts	Marina For Sale Also have to agree that this is not Merredith Marine OR They are using a random photo of the lake that looks nice. Verdict still out on which business it might be?

01-26-2010, 06:08 PM	#3
LIforrelaxin Senior Member Join Date: May 2006 Location: Texas, Lake Ray Hubbard and NH, Long Island Winnipesaukee Posts: 2,923 Thanks: 1,052 Thanked 901 Times in 531 Posts	If I had to guess I would say this is Glendale Marine. The Building size is far to small to be any of the other Marinas..... Now somethings getting mis-represented here.... the purchase price is indeed 1.9 million However there is 400K in stock merchandise...... now the last time I knew anyone looking into buying a business was many years ago. But as I remember the 400K stock merchandise could not be rolled into the purchase of the business, that was its own seperate short term loan. Hence the mortgage being carried by the new owner would be more like 1.5 million..... now they show there sales Revenue as roughly 877K ....... which I would assume includes winter storage income and profits of 275K..... so they say they are opperating on 500K.... something seems very fishy here...... or this business has been in the hands of the same people for years and therefore doesn't currently have a mortgage on it...... __________________ Life is about how much time you can spend relaxing... I do it on an island that isn't really an island.....

01-26-2010, 09:20 PM	#5
Pineedles Senior Member Join Date: Aug 2004 Location: Moultonborough & CT Posts: 2,549 Thanks: 1,074 Thanked 672 Times in 369 Posts	Speculation Although no one knows which marina it is, we are generating alot of free publicity for the sale. May not be good publicity but we all know the the famous line, even bad publicity...........

01-27-2010, 01:40 PM	#7
Excalibur Senior Member Join Date: Jul 2004 Location: Gilford,NH is where I would like to be and Southborough, MA is where I have to be Posts: 90 Thanks: 15 Thanked 11 Times in 4 Posts	If it is Glendale Marine Why wouldn't a group of Gilford Island Residents purchase the property and make it a not for profit. Selling shares to each boat owner who would like there boat stored for valet storage in the summer. Then create another class of shares for Winter storage. The corporation could then hire or lease a on site mechanic to maintain any boats needing service. Glendale Marine serves many island residents with valet boat service and does not have fuel or there own docking service. They use a trailer or fork lift to launch the boats at the Gilford town docks. In addition a rental boat service and taxi service could be useful. To offer some type of island delivery service. This would be a great opportunity to a lot of people who struggle every season worrying if someone is going to care for there boat the way they do with out paying so much.

01-27-2010, 01:48 PM	#8
BroadHopper Senior Member Join Date: Oct 2004 Location: Laconia NH Posts: 5,615 Thanks: 3,245 Thanked 1,115 Times in 801 Posts	Minge Cove The Minge Cove Marina is a good example. The marina became a coop owned and maintained by island residents. The coop rents out the building and gas dock to a marine mechanic who sells gas and service the boats. __________________ Someday may never be an actual day.

01-26-2010, 05:42 PM	#2
Merrymeeting Senior Member Join Date: Mar 2003 Location: Merrymeeting Lake, New Durham Posts: 2,228 Thanks: 305 Thanked 802 Times in 369 Posts	In talking to a marina owner that I know, the winter storage business is one of the biggest money makers. There is surprisingly little profit in the gas part, unless you pump large amounts. So, storage is a big money maker for the marinas. Whether it would be enough to support all the bills mentioned is another discussion.