For Sale by Owner
Phone : 0417 12 ****

Car & Vehicle Rental, Hire and Supply For Sale - Hire Car Monopoly on King Island - Established 19 years - Very Profitable - Only $1,165,000 WIWO

Listing Id : 230974

Location : Tasmania - King island

Category : Car Rental, Hospitality and Tourism, Service

Asking Price : $1,165,000 WIWO

Business description

Unique is a word that is used incorrectly most of the time but it applies perfectly to this business. King Island is one of the few locations on the planet that is an internationally recognised brand in its own right. P & A Car Rental is the only car hire, rental and supply firm on the island and with no taxi service, it has a monopoly on the market for casual vehicle supply

This opportunity is the ultimate sea-change. King Island is world famous for its dairy, seafood and beef but it is also now famous around the world for it unique offerings for tourists, particularly golf tourism. There are currently two Championship courses on the island including Cape Wickham. This magnificent course is ranked number 3 in Australia and a staggering number 24 in the world by golf experts. In addition to golf, the island is a tourist mecca for its beautiful island scenery including spectacular views of Bass Strait from most vantage points.

In 2016, there were 13,000 visitors to the island and this is predicted to grow to 25,000 within 5 years. Approximately half of the visitors are tourists and the other half consist of corporate business people and visitors to family and friends. There are plans to create a 36-hole championship golf course and it is estimated that this will greatly increase visitor numbers.

P & A Car Rental started on the island in 1927 and have been in vehicle hire for the past 19 years. As there are no other car hire businesses and no taxi service, we have a monopoly providing vehicles for hire on King Island. We currently have a fleet of 80 vehicles, all are well-maintained and in excellent condition. We have two branches: one in the main town of Currie and one at King Island Airport. There are plans to increase the vehicle fleet to meet the anticipated surge in demand from increased visitor numbers.

The business is very profitable and is going from strength-to-strength. This is based on the planned increase in visitor numbers and economies-of-scale. We are fully-accredited from Tourism Tasmania as a licenced Hire and Drive operator. Current turnover is well in excess of $800,000 and margins are excellent. There are only 6 staff including 2 casuals. The business is being sold for asset value only with nothing added for goodwill, so this really represents excellent value for money.

Features of this offer:

  • Monopoly car hire, rental and supply business on beautiful King Island
  • King Island is a major dairy, beef and seafood provider famous around the world
  • King Island is also now known as a world-famous golf destination with Cape Wickham being the No. 24 ranked course in the world by golf experts
  • The island is also experiencing massive tourism growth, particularly golf tourism
  • Tourist numbers are expected to grow by over 90% in 5 years, from 13,000 to 25,000
  • The business is being sold for asset value only
  • All standard amenities are available on the island including quality housing, restaurants, hotels, public health and education services and even IGA and Foodworks supermarkets

Life on King Island is both tranquil and exciting. If you want to escape big city crime, traffic gridlock and unfriendly people, this is the place for you. P & A Car Rental is a profitable existing business with a sensational future from planned growth in tourist numbers. Everything is included for a new owner to start making money from day-one. Don’t hesitate! For more information on how to provide a secure and safe future for your family, call the number above…TODAY!

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