For Sale $1,290,000 - Commercial
Overview
For Sale: A waterfront property including a dock, equipment, and the profitable operations of West End Divers. This established, turnkey dive shop enjoys an excellent reputation and a loyal customer base in the bustling tourism hub of West End, Roatan.
The business boasts a high rate of repeat customers, top ratings on Trip Advisor (5/5) and Google (4.8/5), and a strong online presence. With an experienced staff and manager in place, the retiring owners are prepared to assist with the transition for up to one year.
This rare and valuable waterfront property, featuring a dock that cannot be replicated due to local regulations (no new docks allowed in West End), offers various renovation possibilities. The second floor currently houses a restaurant that provides additional rental income on a month-to-month basis. There is significant growth potential with possible remodels on the second floor.
Take a Virtual Tour: West End Divers Tour
Property & Building Details
• Two-story concrete structure in the heart of West End.
• Ground floor houses West End Divers: gear/compressor room, staff bathroom/lockers, patio, reception /lockers, camera table, repair counter, workroom, coffee station, and client restroom.
• Second floor features the “Cafe Escondido” restaurant: dining area, two restrooms, dive shop classroom, office, and storage room.
• Deeded property spans 0.041 acres.
• 1,200-gallon water cistern.
• 38’ of waterfront/road frontage with strong marketing visibility.
• 1,750 sq. ft. building with sunset views from the second floor and dock.
Dock:
A unique and valuable asset. The dock is large and highly functional for dive operations, with potential for future expansion.
• 183’ in length
• 2,600 sq. ft. of operational space
• Includes a boat lift,
• Wash-down area,
• Drying racks,
• Shower, and
• Secure boat storage.
• No new docks are permitted in West End, adding to its rarity.
• Stunning sunset views.
Surveys & Diagrams Attached.
Business Summary:
West End Divers is a profitable, turnkey business and one of the longest-running dive shops in West End.
• Well-equipped with room for growth.
• Fleet includes three dive boats with varying capacities for efficient operations.
• Knowledgeable staff and streamlined processes.
• Generates $70,000-80,000 in annual pre-tax earnings.
• Additional income from rental properties.
• Opportunities for expansion.
Detailed financial information available upon request.
Business Assets/Equipment:
Dive Boats:
• Delfin III: 42’ long, 13’6 beam, diesel engine
• Kiko: 25’ fiberglass panga, 150hp Suzuki 4-stroke outboard (new July 2019)
• Sea Cat: 25’ fiberglass panga, 75hp Yamaha 2-stroke outboard
Dive Shop Equipment:
• Coltri Compressor (Primary Air Compressor)
• Airetex Compressor (Nitrox Compressor with Nitrox stick)
• Booster Pump (02 Booster for rebreathers)
• Four 2000 cu ft 02 Tanks
• Two fill stations (one air and one nitrox)
• 02 Analyzing Station
• Dive gear repair and testing equipment
• Rental gear for 80+ dives per day
Frequently Asked Questions
The following are answers to common questions by the owners of West End Divers.
What is your maintenance schedule like?
Pretty much as needed. Motorized equipment general maintenance is based on hours used.
How frequently do you have to replace equipment, I’m curious about dive gear but also boats, dock, etc.?
Regulator 7 to 8 years, replace hoses and BCs about 2 or 3 years, Tanks retested every 5 years (rarely fail), Mask and fins 4 or 5 years. Boats and dock are as needed. Delfin drydocked once a year for bottom maintenance.
When is high/low season?
High season runs December 15th – August 31st. Low season starts the 1st of September and goes to about Dec 15th.
How many boats/divers do you typically have going out in a day during high season?
It is not uncommon to have 6-8 boats per day during high season. Although rare, we have had up to 10 boats in a day. Additionally, we average 60-80 tanks a day. Again, although rare, our daily tank count has spiked into the 90s here and there.
Do you have an email list?
We do have an email list that Gary compiled before ditching the old email system/updating web platforms for the new website. We also have an additional email list being created and maintained by our new accounting system, Quickbooks.
How do you currently manage/track customers? What software do you use (if applicable)?
Quickbooks.
Who are your biggest “competitors”?
In West End with comparable offerings, I would say Coconut Tree Divers, Sun Divers and Roatan Divers.
How many staff? What is the hourly wage?
Salaried staff are 5; 1 Manager, 2 Boat Captains, 1 AB-compressor operator, and 1 Watchman. Total monthly salary sans manager is about $2900. (Manager details to follow).
Dive Staff varies by workload, and they are paid on a commission basis. 30% of courses, and $6 per diver when leading dives.
Specialty dive commissions may vary or provide additional payout (eg. southside, night or blackwater dives)
Is Consultation during transition of ownership be an option? How would your consultation work if you helped us navigate the transition for a year? Would you be “employees” or charge a consultancy fee?
Yes optional, up to 12 months included in the sale.
Who is the shop “manager?”
Courtney Blankenship. Courtney’s salary is $1300 per month plus a 20% commission based on the instructor commission pool.
Who handles the day-to-day operations?
Courtney Blankenship
Can you sell goods (gear, food, drink, etc.) in the shop?
Yes! We currently sell T-shits, hats and mugs. Courtney is currently developing rashguards to sell as well.
Who teaches certification courses?
PADI Certified Dive Instructors
Are there any dues/fees associated with being a PADI dive center?
Yes! Our 2022 PADI Dive Center Fee was $499. They are due every November.
What kind of insurance do you need (for diver incidents and/or natural disasters)?
We don’t need or carry any. Instructors and customers are responsible for their own diver accident insurance.
What is it like dealing with local government?
Can be frustrating. This is one of the places my consulting will help. There are individuals for hire for this aswell.
How difficult is it to obtain permits for repairs and new construction?
Pretty easy to get permits if it is not over the water.
Do you have any customer/supplier contracts (travel agents, dive wholesalers, etc.) besides the Mares compressor agreement?
No
Is your logo/name trademarked?
Yes
Can we request proof of past sales, tax returns, etc.?
Sure
How much does the restaurant upstairs pay for rent and how long is the lease?
Monthly rent for the restaurant is $725 (below market rate). The lease is month to month.
Does the building have a well or water collection system?
The building is connected to the town water and sewage system. There is a 1200 gallon cistern for water back up. We do not collect rainwater.
What is the current profitability of the business?
For 2022 Gross Income of 374,000 USD, Expenses of 303,000 and pre-tax earnings is 71,000 USD. [Currently this is taken in the form of payroll to the owners, not dividends]
List of monthly expenses?
Wages, fuel, taxes, accountant, utilities (electricity, water, internet, subscriptions), repairs, office supplies. Including wages, we average $25,000 per month in expenses for 2022.
Cost of taxes on the property?
$1528.85 annually
Is there a maintenance contract on the boats?
No.
Cost of the contract for compressor? $100.00 a month for maintenance.
We own two compressors, a Coltri used for air, and an Airetex used primarily for mixed gas. Also included is a high pressure booster pump for oxygen and helium. We have a contract with the Mares Store for maintenance on the Coltri compressor as needed.
List of assets that would transfer in the sale? (restaurant and dive shop)
Two story building, 2600 sq ft dock, coltri compressor, airetex compressor, booster pump, four 2000 cu ft O2 tanks, two fill stations, O2 analyzing station, dive gear repair shop and testing equipment, scuba tanks and rental dive gear.
Delfin III: 42’ long x 13’6” beam dive boat, diesel engine
Kiko: 25’ fiberglass panga, 150hp Suzuki 4-stroke outboard (purchased new in July 2019)
Sea Cat: 25’ fiberglass panga, 75hp Yamaha 2-stroke outboard
How do you advertise?
Website, Instagram, Facebook, and word of mouth. We are confident that we are one of the most returned to dive operations on Roatan.
What is your timeline for the sale?
We are flexible on timing and amenable to a short closing period. Owners are willing to offer help and advice on a consultant basis for 1 year post sale.
About West End Beach & Village
West End Village, located on the western end of Roatan in the Bay Islands of Honduras, is a premier tourist destination known for its stunning beaches, lush tropical environment, and exceptional coral reefs. It is renowned for its spectacular scuba diving and snorkeling, often considered some of the best in the world, as well as popular fishing activities.
Amenities and Accommodations
Accommodations in West End include hotels, hostels, apartments, cabins, and rental homes to suit all tastes and budgets. Essential amenities such as restaurants, bars, grocery stores, and internet cafes are all within walking distance.
Dining and Transportation
West End Village features a diverse array of international cuisine and ample public transportation options for exploring the island. It offers a unique blend of convenience and charm, making it feel like a large diving resort where everything is easily accessible on foot.
Budget-Friendly Destination
Popular with budget travelers, West End boasts numerous affordable accommodations nestled along the beaches and within the trees. Visitors can find comfortable, low-priced rooms close to beautiful beaches, excellent diving shops, and a variety of dining options.
Details
Price: $1,290,000
Size: 2,600 square feet
Lot Acres: 0.04 acre
Lot Dimensions: 11.7m x 17.88m
Waterfront: Yes
Beachfront Access: Yes
Roadfront: Yes
Location: West End Town, Roatan, Honduras
Property Type: Business
MLS #: 23-685
