RARE! Supplier of Goods to Global Shipping Companies- Net SDE $293K!
Niche business, run smoothy for over 30 years. Locally owned, globally known!!!
included in asking price
included in asking price
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The ship chandling or “ship supply” industry dates back to hundreds of years. It was vital then and it is still vital now.
Here is the big picture of this business:
- This Company was established in 2008 and has been successfully operating & has organically grown for over 11 years! This Company is a a Maryland C corporation.
- This is a ship supply company that provides everyday necessities like food, beverages, medicine, electronics, navigational charts, and nutritional products to international shipping companies, vessel crew members, and ship catering companies (or buying groups).
- The Company serves all 27 ports between New York and Wilmington, NC, with the home port being Baltimore, MD.
- The Company has a solid list of clients which are major international shipping companies, vessel crew members, and marine catering companies (or buying groups). Majority of the Company’s customers are concentrated in Europe and Asia.
- The Company’s sales have grown approximately 20% over the past 2 years.
- The Company enjoys several contracts with major global marine catering companies and ship management companies. Some of these contracts are exclusive in nature and place the Company among a very select group of ship suppliers who can service the fleet under management.
- Revenue growth has been achieved by attracting new customers and increasing retention among existing customers. The Company has developed a reputation of delivering high quality products.
- The Company’s robust supply chain is one of the company’s most important assets.
- The Company has a strong, diversified vendor portfolio that enables the company to source high-quality products from across the country at very competitive prices.
- The company’s work is in a very specialized and focused industry, therefore has a very limited number of competitors.
- This operation is run like a very well oiled machine. New Buyer will be pleased to take over this business.
- The US ship supply size alone is $1B and $300M of that belongs to the East Coast of the US alone.
There is no sign of this industry slowing down, it is only growing!
About the Business
Contact the Seller
- Year Established:
- Number of Employees:
7 FT, 1 PT
- Real Estate:
- Building Sq. Ft.:
- Lease Rate/Sq. Ft./Mo.:
- Lease Expiration:
The Company operates out of a 2400sqft warehouse out of Beltsville, MD.
There are major barriers of entry in this industry. Entering the market is very difficult due to government regulations, rigid existing trade relationships in the industry, sophisticated supply chain, and necessity for entrants to be highly connected within the shipping industry. Additionally, access to ports is restricted and requires special government authorization.
The competitive advantages the Company has over its competition is that It provides quality products and a hospitality approach to service delivery. The Company’s competitors compete on a low-price and low-quality basis, whereas, the Company is innovative and aggressive in its supply chain management, so that it can offer a better product at an affordable price and provide it with unprecedented care for its customers.
Growth & Expansion:
Further growth can be easily secured by doing the following:
- Developing the Company’s ship stores business. Currently, the company focuses primarily on food and beverage products. However, the Company’s client base are interested in procuring ship stores in addition to provisions.
- To capture more opportunities in different markets the Company can easily expands its sales efforts by hiring a sales manager who has experience in ship-stores sales and in the ship industry in general.
- Acquire other ship supply companies on the East Coast, Southeast and Gulf Coast of the US.
- Expand operations into new ports like New Orleans and Houston
- Earn a larger percentage of revenue from other ship products and services
- Increasing the spend per customer
About the Sale
- Reason For Selling:
With the proceeds of the sale, the Owners wish to invest in real estate.
The Owners will be willing to stay on long as the Buyer needs them. They are very much committed to a smooth and successful transition.
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