71353 - Lobster and Crab Bait & Trapping Equipment

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Business Description

All-inclusive with real property! The company specializes in distributing lobster and crab bait and trapping equipment to commercial fishermen and dealers throughout the United States and parts of Canada. Revenue Breakdown by Market: Commercial wholesale 80% and Sawmill residential and commercial 20%. The company’s primary products include cowhide lobster bait, crab bait, custom wooden trap runners and PCV spindles for lobster trap flotation markers. The 3,000-square foot business facility and a home on 41 acres of land are included in the sale. Inventory range: $150k-225k depending on the season Offering these products requires a cowhide supplier for bait, and commercial wood working machines to fabricate trap runners, with skilled workers to operate them. The company has a proven track record, supported by its 45-year history and reputation it maintains with commercial fishermen. Based out of Prospect, Maine, the company’s marketing efforts focus on targeting commercial fisherman and bait dealers on the east and west coast, Canada and the West Indies. Revenues have been increasing dramatically at 13.78% annually over the past 5 years, due to a growing bait shortage, and an increase in consumption of seafood with the improving economy. Last year, the company’s total revenue was $1,046,831 with an SDE of $192,356, they are projecting 1.2 million in sales and $228k SDE for 2017. With a large customer base and solid reputation, the company continues to attract new customers while maintaining its reputation with existing ones.

About the Business

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About the Sale

Reason For Selling:
Approaching Retirement
While a standard transition is preferred, the owner is flexible for an extended transition.

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