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Resort For Sale in Los Santos, Panama
Successful And Profitable Fishing Lodge In Panama For Sale
Asking Price: $1,650,000 USD
This fishing lodge is located on the Pacific Coast of Panama. It was established in 2007 and has been under my ownership since 2014. At present, the lodge only offers all-inclusive fishing holidays to a very international clientele. The lodge is highly specialized and niche as it is the only 100% lure fishing operation in Central America. It is very well established and totally turn-key business that can accommodate up to 12 anglers.
As it is, it is a highly successful business that gets booked up over a year in advance for the better part of the year. Asking price is based on the current business and figures. However, there is a clear path to significantly boost revenues and profits for the person who is willing to take it to the next level.
2022 secured revenue: approx. 650-700 000. Profits: 400-450 000
2023 is already very well booked out so one can expect similar figures.
The business has very clear and provable income and expenses book keeping dating back to 2014. I am also willing to stay for as long as needed to insure a smooth handover, and sign a non-competing agreement.
Keeping it simple, the assets are as follow :
- 3000 square meters of land with mature landscaping
- 4 triple room in 2 different building
- deck + swimming pool and outdoor area
- large rancho that act as dinning/bar/kitchen area
- onsite owner or staff accomodation – 3 beds, 2 baths, easily convertible to 4 rooms.
- hangar for up to 3 boats + its concrete platform
- 4 fishing boats : 2 26 ft. Twin Vee catamarans with twin 140hp engines (2020). 2 25 ft. Center consoles with twin 70hp engines (2020 and 2017)
- 4 aluminium trailers
- local style panga “taxi boat” with it's 40hp 2 stroke engine and steel trailer
- 3 pickup trucks
- lots of fishing gear for the rental tackle and inventory for our small onsite shop
- various tools, spare parts, small trailer, etc.... Basically all that is needed for the day to day operations.
Here are the main selling points. These are kept as bullet points but I can vastly elaborate on each point as the discussion becomes more serious.
Great business :
Obviously, the business also comes with a few minor challenges and some room for improvements. I will be very open about these and willing to give my input and/or debate the best course of action with the new owner, and help if needed.
- very easy to operate for a business of its kind. Relatively easy logistics and its scale (only 4 rooms, 9-12 guests max capacity, 6 full time employees).
- impeccable reputation and business relationships. Established and highly recognized in the popping and jigging niche market after 14+ years of operations.
- very well booked despite no advertising budget. Occupation rate is 85%+ for the months we are open, and we have to turn down a lot of request during high season. Lots of repeat customers. N.1 selling destination for most agencies we work with.
- comes turnkey with over a year of future bookings (almost filled up calendar)
- great margins despite being ultra competitive on price (mostly due to easy logistics, 0 advertising spendings, the fact that we don't try to be “luxury” like most other lodges out there, and the fact that we burn very little fuel compared to other lodges in Panama because our fishing grounds are very close).
- unique positioning as the only 100% popping & jigging lodge in the Americas ! Unique, preserved fishing grounds
- very strong moat for a business of its kind (too long to develop here but I can thoroughly explain if interested). Far away and protected from the competition
- business and interest has been organically growing every year and the future looks bright
- just entering the US market, with many strong catalysts that will bring awarness and interest in this relatively new and untouched market (please inquire for more details)
- no low fishing season - operable year-round if wanted
- always been well-maintained and run as if I was going to keep it. We spared no maintenance costs or necessary investments up to present day (details on demand)
- great clientele of passionate anglers due to the lure-only specialty of the lodge. Clientele from all over the world reduce concentration risks.
Strong development potential :
The ROI is attractive for someone who just continues to operate the lodge “as it is”, but, as we see it, the business is now begging to be taken to the next level. For a buyer that has the will and energy to do so, there is a LOT of room to grow figures. To name just the 5 most obvious possible catalysts (there is more) :
Surely, the above only works if you are able to sign in more customers. But considering that with a marketing budget of 0, and a virtually untapped US market, we are already turning down business for being booked out, the potential is totally within reach.
- While the lodge was designed and built to operate 4 boats, we currently only run 3. It would be “fairly easy” to boost revenue by up to 25% (and bottom line by quite a bit more more) by just operating the 4th boat
- There's also a lot more room for future price hikes, as comparable lodges in Panama are 40-120% more expensive.
- Switching some bookings from agencies to direct would allow to boost margins by about 30% (about 50% of bookings come from various specialized agencies)
- Extending the season by 1-3 months. As of now, we are totally closed roughly 4 months out of 12.
- Virtually untapped US market. While we do have more and more customers from the US and word of mouth seems to be spreading quickly, it is fair to say we have not even scratched the surface of our addressable market in the US, which is by far the biggest, most accessible and logical market for our lodge.
Great country to invest, great place to expatriate :
About Panama :
About our hidden little village :
- easy and cheap to get Permanent Residency
- no currency risk or exchange rate volatility, US dollar is in effect the currency of the Republic of Panama
- safe to invest, stable country that is developing and growing fast
- proper land title and ownership protection system
- low taxes and straightforward tax system
- low costs of living
- perfect mix between developed and developing country – has for the most part the best of both worlds
- international flight hub
- no natural disasters or deadly animals
Main reasons for selling :
- totally safe environment (no need to lock your car !)
- warm and welcoming people. Laid back fishing village atmosphere
- relatively big expat Community from all over the world
- consistently ranked as a top spot for expatriation
- great weather, being the driest part of Panama
- great outdoor lifestyle : empty beaches, world class fishing, surfing, whale-watching
- all basic public and private amenities available. Bigger cities nearby.
- minutes away from the nearest hospital. Incredibly low costs of medicine despite a good level of expertise
- our kids are growing up and will soon need access to better education infrastructure
- quite simply, I feel I have done my time in the job. As a couple, we are avid travellers and have been moving regularly all our life. The initial consensus was that we would stay 3-5 years in Panama and it is now soon to be 8. As much as we enjoy it here, we feel the need for a big change.
- we do have another business idea that we would like to pursue
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- Maid's Quarters
- Maid's Bathroom
- Laundry Room
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