Northeast Seafoods
Johnny Hwang
Our Situation
• 27 years in business
• Debt free
• International network of 45 suppliers
• 400 regular customers
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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–
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Freezer
Saws
Packagers
Other equipment
• Shipping facility
Experienced Employees
• General manager
• Five division managers
• Fifty staffers
Profitability
• Seafood sales leveled 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 margined 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