Northeast Seafoods
Jonathan Hutchins
Our Situation
• 27 years in business
• Debt free
• International network of 45 suppliers
• 400 regular customers
Our Assets
• Experienced employees
– General manager
– Five division managers
– Fifty staffers
Our Assets
• Three month’s worth of all major supplies
• Contracts with distributors (30% of annual
•
•
sales)
Inventory of about $220,000
Warehouse of 18,000 square feet with
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Freezers
Saws
Packagers
Other equipment
Shipping facility
Profitability
• Seafood sales leveled off in the early
1990s, but is still strong in 2003
• Projected steady sales
• 2002 gross revenues: $17.5 million
• 2003 gross revenues: $16.8 million
• 19% to 28% profit margin over last ten
years
Financial Arrangements
• Asking price: $3.7 million
• Requirements: $800,000 down, $2-million
preapproved Small Business
Administration loan
• Remainder financed by seller’s mortgage
Summary
• Great investment opportunity
• Thriving business
• Potential for high profits
• Excellent location