Monomoy Island Ferry

Financial & Assets Details

About the Business

Business Description

The Monomoy Island Ferry has been a family owned business for close to 30 years. This popular excursion currently offers four 90 minute cruises Monday through Saturday and two on Sunday during the months of June through September. The cruise offers views with narration of the Stage Harbor area and then cruises to the South End of Monomoy Island to view Chatham’s best known residents, the herd of Grey and Harbor Seals which inhabit the area. Guests are invited to load up two Great White Shark apps to their smart phones in order to track Great Whites prowling the waters of Monomoy in search of their favorite delicacy… which unfortunately for the seal population… is seals.
The business comes with a custom built 32 foot Privateer 2850 Atlantic vessel commissioned in 2007. The P/V Rip Ryder IV is US Coast Guard Certified for 20 passengers plus crew. The boat is powered by twin Evinrude 250 outboards which were commissioned in 2013. The Rip Ryder has an operating range of three miles from shore and 20 miles from safe harbor from Watch Hill, RI to Manomet (Plymouth), MA. Each passenger has a cushioned bucket seat and there are life jackets for 22 adults and 10 children. The boat is also equipped with two 8-man life floats and an automatic Epirb. In addition the boat is fitted with 36 mile Radar, Color Chartplotter, GPS, Digital Fishfinder and DSC equipped VHF radio.
The boat cost $250,000 to custom build and outfit in 2007. The new motors installed in 2013 cost $40,000. The engines have about 1,400 hours of use. They are professionally maintained and very efficient with typical inshore trips averaging five gallons per trip and an off shore round trip consuming about 15 gallons.

The business operates from a private dry boarding dock in Stage Harbor Marine in Chatham. In addition to the rented slip for the boat, there is a 3,000 square foot dedicated parking area as well as a picnic and waiting area. The business also holds a permit to operate from Ryder’s Cove Town Landing, however does not currently operate from that venue.
The current owner is a full-time police officer which limits the number of excursions he can handle and curtails the number of specialty trips for private parties. A new owner can grow the revenue adding an evening trip for a Sunset Cruise, by adding additional trips on Sunday, providing a beach ferry service and by taking on more private charters.

There is a website at www.monomoyislandferry.com.

The business has averaged $126,000 in sales over the past three years and owner’s earnings have averaged about $66,000 (for four months)

Support & Training

Seller will provide transitional orientation and training