For Sale is a one-of-a-kind, turn key, established tour business on the island of Maui. Asking price is 300K
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There is no other business like Maui Easy Riders, unique in so many ways. The business plan is perfect, the business itself is growing and the work is easy. Winner of the Best of Maui in the Maui News two different years including 2019, and nominated by the famous Komoda Bakery in the small cowboy town of Makawao.
I am personally selling my tour business that I started in 2010. My reason for selling is because I am moving to the mainland to start another business. I have carefully nurtured this business, have taken every precaution and action to ensure its reputation, name and integrity. For several years it has been, and continues to be the highest rated bike tour business on all trusted review sites including TripAdvisor and Yelp for the island of Maui. It is also the highest rated Road to Hana Tour business, only offering private, customized tours for guests.
The business is structured as a sole proprietorship, which will make the transition of ownership much cheaper and easier than it would with an LLC or an S-corp. It also cuts out any complications with other people involved in the sale as with a corporation, LLC or a Partnership may. I own the trade name and control all aspects of the business.
The business offers 2 different types of tours. It originally started as a downhill bike tour business on Haleakala. A famous bike ride that has been a top attraction on the island of Maui for over 35 years, it is estimated that over 5 million people have done this activity, many of them have done it several times. The business has also been offering driving tours of the island for many years, including personalized tours of the Road to Hana. The potential for growth has no limits. With the ratings on review sites and SEO results the business could start offering shuttles around the island, or shuttles to and from the airport at all hours of the day for extra income. There are also many other tour options that could be taken advantage, Maui has it all and I am currently only doing a couple different types of tours.
Maui is voted the #1 island destination in the world year after year. Maui is growing, and the potential for growth with this business has an edge that other businesses do not. This business has been established by word of mouth and online search results. The hotel, concierge and booking agents on the island are completely untapped, which means that there are never any commissions paid to anyone for sales. This also means the business itself has the potential to double, or even triple in size in less than one calendar year if the new owner wanted to tap those available resources. The majority of all tour businesses here on Maui obtain the bulk of their clientele from 3rd party vendors such as hotels and booking agents. And if the new owner wanted to start selling merchandise such as hats, t-shirts or even photo/video packages there is much room for income on those avenues. Maui Easy Riders is also a catchy name that is timeless, and easy to remember.
In 2018 the business grossed over 250K, I am on the same pace for 2019, and I am still finding ways to work less and live more of the good life. The cash flow is well over 150k as the expenses for this business are very low. If employees ran all of the tours I could still make plenty of money and never work more than 10 hours per week. This would be the perfect business to grow, or simply maintain for someone who already possesses the skills and experience to run a small business. This is also an ideal situation for someone who has a large amount of cash they need something to invest in as I would be willing to sell the business for cash at a discounted price. The lifestyle of owning and running this business is truly living the dream.
I am willing to stay on and teach the new owner how to run the business for whatever amount of time is necessary, for a reasonable salary of course. There is also a number of dedicated staff available that work for the business on a part time basis, although not much staff is needed, including the best bicycle mechanic I have ever worked with.
There is also an expert and very reliable mechanic who has many years of professional experience working on the types of van I use for this business, he could be available for the new owner if desired.
I am able to guide the new owner on how to smoothly run this business on every level, including but not limited to: applying for and maintaining the necessary permits, obtaining insurance and licensing to keep a business like this legit. I will provide the highest level of expert instruction on how to conduct tours from start to finish, how to impress your clients, and also very important...how to keep the peace and keep a low profile with the people who live in the areas where the tours are conducted. I can teach a new owner the ins-and-outs of the industry, give inside information on the people and businesses that offer the same types of activities, introduce you to people you can trust in the industry and give you fair warning on those you should not trust.
I have a limited number of phone calls and emails to deal with as 80% of the bookings are made online and without any contact from the customer. The rest of the bookings I just make over the phone with my guests, it’s too easy. As of now there is no invoicing, no waiting for payments, you can even charge cash if you want as people are always looking for some sort of a discount. As soon as someone books a tour the business gets paid in full. This booking process does not cost me anything, it is all paid by the person booking the tour. The booking site I use is FareHarbor, I have been with them from their very beginning, they are easy to use and very prompt to help me when I contact them for support.
Here are some of the things that make owning and running this business so great.
I never start my work day before 8:30am, and I could change that if I wanted as I make my own work schedule. I never have to deal with cold temperatures while at work. Every day that I conduct a tour, I start that tour at a beautiful beach on the north shore of Maui.
The business is established in the town of Paia. A historic sugar plantation town that is now known for its unique shopping, beautiful beaches, great restaurants and laid back surfer mentality. Paia is growing and becoming a hub for tourists who flock here. Paia is also gearing up for a huge expansion of its world famous Baldwin Beach Park. The expansion is going to be huge, cost millions of dollars, make the north shore way more attractive for tourists, and it will draw tour buses in and provide infrastructure that will make running this type of business even smoother than it already is.
The business has a very small carbon foot print.
I never answer to anyone and the tours that I conduct are a lot of fun. Seriously, when I am conducting a tour I am riding a comfortable bike down a volcano on Maui as my job. The bike ride is 100% on paved roadways, pretty much all downhill and about as scenic as earthly possible.
The people who come on the tours are here to have fun, I never have to deal with anyone who is having a really bad day. Maui is practicality doing all of the work for me, all I have to do is tell people what they’re looking at and how great it all is.
I never work more than 40 hours a week unless I am doing it because the money is too good to turn down, and I rarely work more than 5 hours in a day. I have brought in as much as $7000 in one day, on one tour, while only working with 2 of my employees on that tour. I have also made more than $2500 working alone in one day. The sky is the limit!
Assets and overhead:
Very importantly I hold a permit from the Public Utilities Commission for this business, these permits do not come easily and they are very valuable. It is an essential part of the business.
There would be no debt that comes with the business. The business is a sole proprietorship, it would be easy and simple to transfer ownership or just as easy to dissolve the current business, establish a new owner and establish a new business with the same name. All assets would transfer easily. I would be there every step of the way to help the new owner simply apply for new permits and licensing if they preferred it that way.
The overhead for this business if very low. Roughly 10-15K in insurance premiums per year could be expected for a new business owner. Gasoline expenses (bicycle tours consist of 50 miles of driving and road to hana tours consist of 110 miles of driving) The vans get about 12 miles per gallon, gas is pretty much always under $4 per gallon, sometimes under $3 per gallon.
The vans I own are a 2010 GMC Savannah that holds 11 passengers and a 2011 Ford E-350 that holds 14 passengers plus driver on both vans. Both vans runs great and they are both outfitted with a 6 bicycle rack that was custom made by Recon Racks and shipped to Maui from the West Coast. Both vans can also hold 8 bicycles on the top of the van with Thule Bicycle Racks and Thule Gutter Feet and Crossbars. So at any given time the business can take out as many as 28 bicycles. I also own a 3rd van which could be included in the sale of the business. It is a fully loaded 2016 Honda Odyssey, this van is used for smaller island tours such as waterfalls and hiking trips, it is not equipped with bike racks but could be. This van holds 7 passengers plus the driver.
The business has 27 bicycles from Worksman Cycles out of Ozone Park, New York. These bikes are each made individually, they do not come off of an assembly line. The bikes have drum brakes and huge wide seats which are there for comfort and safety. I run the safest and best bike tour on Maui and it shows in the awards I have won and in the reviews the business has generated over the years.
The business also has all of the necessary equipment and tools you would need to run it efficiently. Tools to work on the bikes, helmets for bike tours, rain gear, gloves, jackets and pants for the guests, loads of very nice beach towels for tours that have swimming involved, beach blankets, picnic kits, coolers, first aid equipment, cleaning supplies, giant shelves for storage, storage bins, a huge air compressor, and all of the other things you would need to run this business comes in the asking price.
The business is small enough that you would not need a store front, I have always ran this business from whatever home I have been living in, which cuts down on overhead tremendously. You would not get stuck with a monthly bill to start out, you could simply include this expense with the price of your home.
Employees are paid by the tour at the equivalent of $20-$30 per hour depending on how long they have been working with me or how valuable they are to the business. If you really wanted to buy this business and turn up the profit margin you could lower those wages significantly as I pay much more to my employees than the industry standards which start out around $12 -$15 per hour. I pay out less than 50K per year to my employees as I enjoy working most of the tours myself.
If you have any questions or you’d like to discuss purchasing this business give me a call or send me an email.
Seriously inquiries only please.
Maui Easy Riders