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Client
Gulfstream Ventures Corporation

Project
Gulfstream Hand Built Boats

Amount
$ 750,000



Executive Summary

Gulfstream Ventures Corporation was formed in 1998 to design, build and market a line of high end, hand crafted boats. The company, although newly formed, draws on the nearly three decades of construction and boat building experience by the CEO and founder, Mark F. Wyllie. These boats are the finest of any hand made boats found anywhere.

Product Line
Gulfstream offers a fleet of fine, durable hand crafted boats.

3.5 meter racing catamaran

Based on the winning catamaran design Blade Runner Class catamaran by Malcolm Tennant, this cat is a delight to sail. Holder of virtually every race record in New Zealand, AfterBurner (shown here) is a thing of beauty. At just over 43 feet in length, she’s fast due to her light weight, high aspect ratio and low wetted surface. Hand laid cedar strip planking forms her hulls, which are then coated with the West system of epoxy and Kevlar reinforced fiberglass. The clear resin allows the beautiful wood to show through. Despite the emphasis placed on performance, this sailboat is also suitable for cruising. The hulls have full standing headroom, and can accommodate 4 to 6 people with ease. Rigged as a typical three-quarter sloop on a rotating mast, masthead extras, such as reachers and spinnakers, can be flown in very light weather. These boats are built on a customer ordered, one-off basis, and list for sale at $195,000. Delivery time is 4 months.

5.34 meter canoe

This canoe has much in common with the racing cat above, in that it too is hand crafted of laid up cedar planks which are then coated with the West system of epoxy and Kevlar reinforced fiberglass. Based on the successful Winisk design by John Winters, this Canadian-designed tripping canoe is fast, maneuverable and sturdy: she’ll carry 580 pounds and still outperform and out maneuver lesser, half-hearted compromise canoes. At 17"-6" LOA, she a serious beauty with features like Mahogany thwarts, woven seats, and a Kevlar bottom that round out the bullet-proof wooden classic look that has become the Gulfstream trademark. Canoes are available within 6 weeks of order, and have a MRSP of $5,000

Revenues

Revenues will come from the boat building activity, as well as from charter operations arising from placing in service the first prototype Blade Runner catamaran. This boat is substantially complete at this writing, and lacks only assembly finishing and rigging. When complete, it is expected to go into charter day sailing service in the west coast of Florida area.

5 Year Projections from Boat Building and Related Activities

 

2000

2001

2002

2003

2004

Production Costs

 

 

 

 

 

Direct Materials

$115,000

$125,000

$155,000

$460,000

$575,000

Direct Labor

$99,840

$124,800

$124,800

$149,760

$149,760

Indirect costs

$81,600

$81,600

$81,600

$96,600

$96,600

Sales Expenses

 

 

 

 

 

Sales Commissions

$25,650

$31,650

$68,900

$113,800

$136,250

Advertising, Print

$12,000

$12,000

$15,000

$15,000

$15,000

Misc, Boat Shows

$10,000

$10,000

$25,000

$25,000

$25,000

General & Administrative

 

 

 

 

 

Office Salaries

$121,000

$121,000

$121,000

$121,000

$121,000

Supplies

$6,000

$6,000

$6,000

$6,000

$6,000

Misc

$3,000

$3,000

$3,000

$3,000

$3,000

Totals

$474,090

$515,050

$600,300

$990,160

$1,127,610

 

 

 

 

 

 

Revenues

 

 

 

 

 

Sales price/Cats

$195,000

$195,000

$470,000

$940,000

$1,175,000

Sales price/Canoes

$120,000

$180,000

$360,000

$480,000

$540,000

Sales charter operations

$38,480

$38,480

$38,480

$38,480

$38,480

Totals

$353,480

$413,480

$868,480

$1,458,480

$1,753,480

 

 

 

 

 

 

Gross Profits

($120,610)

($101,570)

$268,180

$468,320

$625,870

Percentage GP/R

-0.34%

-0.25%

0.31%

0.32%

0.36%


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