SOLD
Mexico (Caribbean) > Riviera Maya > Puerto Morelos
Asking Price: 385,000 USD
Cash Flow: 97,000 USD
Sales Revenue: 356,000 USD
Description:
LOCATION: Wet Set Diving and Snorkeling Adventures, PADI Dive Resort S-22795, is the most active dive and snorkel business in Puerto Morelos, Mexico and has been located in the best beachfront location in town for 8 years. Life in this fishing village, between the mangrove and the sea is quiet, slow and casual. Our 38 diving and snorkeling sites on Earth’s second largest barrier reef inside the National Marine Park are protected and remain world-class. Our seaside town is conveniently located 25 minutes south of the airport in Cancun (CUN) and 30 minutes north of Playa del Carmen. STAFF: We currently have 7 staff members and 2 owners. The staff consist of 3 North American PADI professionals, 2 local boat captains and 2 local snorkel guides / boat mates. Two of the North American PADI pros are a Management Couple that oversee the daily schedule, provide advanced dive training, and excellent customer relations. You can read more about us on our website. Their high quality service, our well-maintained equipment and consistent safety procedures have maintained our NUMBER ONE POSITION on Tripadvisor for three years running. CUSTOMERS: The majority of our customers find our website using Google and Tripadvisor and book online. They arrive from the 65,000 luxury resort rooms and suites located within 45 minutes of our business location. The Cancun and Riviera Maya hotels averaged a 79% occupancy rate in 2013. Popularity and profitability in Riviera Maya luxury resorts are on the rise, and more resorts are being built as you read this. An increase in family vacationing and large group sales are factors in our 30% increase in net income over the last 12 months, and will continue to provide an increasing amount of new customers in the future. BOATS: There are around 100 “lancha” style boats that are allowed to operate commercially inside the over 30 square mile (around 80 square kilometer) Puerto Morelos Federal Marine Park. Most of those boats have permits that are in a person’s name and are therefore non-transferrable. As the individual owners retire and allow their permits to expire, the new permits are issued to a new person that has waited on a list for up to five years. These new permits have restrictions to only operate in certain areas. Because our permits are in the Corporation’s name the owners can change easily. Wet Set owns 2 fully transferable UNRESTRICTED ORIGINAL PERMITS for snorkeling and scuba diving inside the marine park. We can go to any location we wish for snorkeling or scuba diving. This allows Wet Set more choices for protected locations and fewer refunds due to weather. REAL ESTATE: Wet Set’s licensed mooring locations are two of the most ideal spots in town, at the end of a paved pedestrian-only street to the beach, and can be seen from the dive shop window and the live web cam. No other boats are permitted to receive passengers from our beach area. The leased property at the Ojo de Agua Hotel has a restaurant with a swimming pool and beach club that provides discounted rates for our transportation and lunch package deals. Right off the white sandy beach is a “house reef” that provides excellent training grounds for confined and open water dives when needed. It also has the only underwater fresh water spring in town. We have everything we need within sight of our dive center. LEGAL STATUS: Wet Set de Mexico is a Mexican Corporation with no liabilities and all government permits in good standing. The corporation is ready for purchase by any foreign national. We will provide our trusted English-speaking Mexican legal support team to represent our company. We are ready for the transition of ownership and subsequent filing of the documentation in Cancun. Temporary Resident immigration status comes with permission to own and operate Wet Set as well as work as a Dive Instructor if you desire. We can refer our same legal support team for the immigration application service as well. SALES PRICE: The asking price of 385,000 USD has been reduced for a quick sale. Based on the current 40% rate of growth in net profits, this business will provide a 100% return on investment in 2.5 years or less. Financial statements, sales graphs and appointment calendar pages are available by request in a shared Dropbox folder. Any additional legal and administrative documents are available for serious buyers to view in person. FINANCING OPTIONS: Due to a recent health issue, the owners are now willing to finance a buyer that has experience running a successful dive operation and is willing to provide a significant down payment. TRAINING AND TRANSITION: The owners are also willing to stay on after the business has been sold to train up the buyer and any new staff for up to 60 days. They will continue to own a home just minutes away from the business location. The staff is fully aware of the business being for sale and they wish to continue working for the buyer’s behalf. Contact us through our website at wetset.com if you have questions and are ready to invest in your vacation lifestyle in Mexico!
Reason for Selling:
Owners wish to buy a sailing catamaran and circumnavigate the globe. Owners will finance.
Expansion Opportunities:
The Riviera Maya is a popular travel destination and is experiencing rapid growth with the expansion of infrastructure to accommodate it. Spanish and American investors are adding hundreds of rooms within 30 minutes of this Marine Park each year. Great location for a dive eco-travel lodge as well.
Offered Support for the new owner:
The managing owners will provide full transparency with detailed administrative documents for serious buyers. They are also willing to stay on after the business has been sold to train up the buyer and any new staff. They will continue to own a home just minutes away from the business location. Contact Tadd if you have questions and are ready to invest in your vacation lifestyle in Mexico!
