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Custom Golf Cart Dealership
A southwest Florida golf cart dealership selling new, used and customised carts, with rentals, parts, service and storage alongside, on $2.9M of revenue.
Business Highlights
- Profitability has grown materially over the last three years on broadly consistent revenue
- Five revenue lines: new and pre-owned sales, custom builds, rentals, parts and secure storage
- In-house technician team servicing both gas and electric carts
- Rentals and storage produce repeat engagement rather than one-off transactions
- Southwest Florida is a year-round market for carts rather than a seasonal one
- Owner prefers to retain the real estate, so the business can be bought without it
Considerations / Questions to Ask
- What do service, parts and storage contribute to margin relative to cart sales?
- The owner prefers to retain the real estate. What are the lease terms, and at what rent?
- How much of revenue is cart sales, which are transactional, versus rentals, service and storage?
- What is the inventory position, and how much of it is aged or pre-owned stock?
- How exposed is demand to new-cart supply and to interest rates on customer financing?
Opportunities
- Grow the rental and storage lines, which already exist and recur, against transactional sales
- Customisation is the highest-margin work and is already an established capability
- Service and parts can serve carts the business did not sell
- A powersports or specialty dealership operator could fold this into an existing group