A well-established turnkey water sport adventure tourism business and dive shop located on the west coast of Canada for the past 25 years is seeking a new owner. Initially a dive boat charter business only, the Expedition Centre/Dive Shop was added 9 years ago to support and expand the charter business, and is now the only dive shop on the entire north shore of Greater
Vancouver, where all local diving happens. This is a unique and rare opportunity to acquire a successful business with a loyal returning customer base, a strong community, and a reputation for excellence. The owners have built the legacy over 25 years with their passion for sharing the beauty of the West Coast through ocean excursions above and below the water. The boat and dive shop/expedition centre is located a short 20-minute drive from downtown Vancouver and is situated along the stunning Sea to Sky Corridor, which is a major hub for domestic and international tourism. Our playground is Howe Sound - a majestic fjord that has recently received the distinction of becoming a Unesco Biosphere Region.
The cornerstone of the business is a well-equipped 30-person charter boat fully customized to host several types of boat charters, such as scuba diving, snorkeling with seals, and kayaking
and paddle board adventures. Their offering caters to both experienced enthusiasts and curious
beginners. Additional revenue is often made through providing water taxi services, commercial and scientific surveys, rescue training, filming for TV and online media content, and private events such as birthdays, bachelor/bachelorette parties, anniversaries, celebrations of life, corporate team building, and school trips.
Along with the boat charters, the dive shop is a full-service dive shop and expedition centre,
conveniently located a short 2-minute walk from the boat. The dive shop offers year-round
diving instruction for all levels of diving, scuba gear rentals, scuba retail sales, dive
equipment serving, plus air fills, nitrox fills, and oxygen fills with the onsite compressor and booster. A nice public pool is conveniently located just 12 minutes from the shop for scuba lessons. The shop is also located in the hub of local shore diving sites.
British Columbia was awarded the best temperate scuba diving in the world by Scuba Diving
Magazine and as the only dive shop on all of Vancouver’s North Shore, the prime
location provides stunning scenery and unparalleled access to breathtaking Howe Sound.
For wreck diving enthusiasts - right in our back yard only 20 minutes from the dock is the artificial reef Annapolis - a 320 ft long destroyer escort that was sunk in 2015 for recreational diving purposes. She is located in a nice sheltered area that is accessible in almost all conditions.
This is an ideal opportunity for an entrepreneur passionate about the ocean and diving industry.
The business and brand have been developed over 25 years and boasts a strong track record
with +400 5-star Google and TripAdvisor. Additionally, the business has experienced an average revenue growth rate of 15-20% year over year for the past 5 years. All business growth and revenue have been generated organically and through word of mouth, so there is ample room for revenue growth by implementing online marketing or investing in new acquisition channels.
There are also exciting opportunities to innovate on new charter offerings such as fishing, whale watching, crabbing, cliff jumping, freediving, and more. (For the entrepreneur searching for the ultimate lifestyle business, it would also be possible to adjust the business structure to close down during the slower winter months if the new owner wanted to pursue that flexibility.)
The expert team is a nimble group of fun-loving professionals who are ready to scale up during
the busy months and scale down during the slower winter months. The team includes 1 full-time shop employee, 4 captains (contracted based on need), 6 dive masters (contracted based on need), and 5 dive instructors (contracted based on need). Additionally in the summer, one or
two full-time seasonal people (often university students) are hired.
The new owner will inherit:
- Devoted clientele and fun-loving community
- A team of experienced and wonderful staff
- Fully customized Transport Canada inspected charter boat with 2 brand new Cummins
diesel engines are still under warranty.
- All boat equipment and gear including onboard compressor, kayaks, paddleboards, etc.
(Boat + equipment valued at $445k CDN)
- Coveted boat moorage (ordinarily a +6-year wait list for commercial moorage)
- The entire dive shop operation (commercial lease is transferable)
- All shop rental gear (Valued at $66k cost CDN
- All retail inventory (Valued at $170k cost CDN
- The dive school
- All dive shop fixed assets (Valued at $87K CDN with a replacement value of $180K CDN)
- All brand assets and goodwill (Valued at $217K CDN)
- Website
- Email lists
- TripAdvisor Account
- Viator Account
- Get Your Guide Account
- Google accounts
- Social media accounts
Valuation: Based on hard assets and revenue multiple of trailing 12 months of profit (EBIT):
Boat & Equipment: $445,000 (subject to final survey)
Shop Rental Gear: $66,000 CDN ($132k market value)
Shop Retail Inventory: $170,000 CDN ($340k market value)
Shop Fixed Assets: $87,000 ($180k replacement value)
Turnkey Business & Goodwill: $217,000 (TTM Profit: $100k x 2.17 multiplier)
Asking price: $985K - Canadian dollars (Currently approx. $725K USD)
The owners are selling the business due to retirement. However, they are fully committed to a
smooth transition and will provide extensive training for the new owner. Post-transition, the
current owners would be happy to be contracted to assist with the business should the new
owner choose to do so.
The option exists to purchase only the dive shop as an independent asset sale which would
include all dive shop assets, inventory, fixtures, customer base, and coveted location (lease transfer). Please contact us for full listing information including financials, asset appraisals, and business operations.
