SOVA Boat Club LLC. | Application Preview
SOVA Boat Club LLC is seeking government grants to support its expansion plans in Virginia. The requested funding will be allocated towards business growth, advertising, marketing initiatives, and infrastructure improvements.
The business plan projects a future date of January 1, 2029, with anticipated revenue of $5.38 million and a profit of 20%, equating to an EBITDA of $1.1 million. Key measurable goals include operating five locations, achieving 500 memberships, and managing a fleet of 45 boats. The revenue breakdown indicates $385,000 in annual membership fees, along with recurring monthly revenues of $112,500 and $8,500 from a specific FBC+ program.
To enhance operations and support growth, the club plans to retain its core leadership team while adding new roles, including a maintenance person, HR solutions, dock staff, and an intern focused on membership experience. Additional goals include expanding the facility, adding a maintenance vehicle, and developing a boat sales process.
The club emphasizes its qualifications as a Service-Disabled Veteran-Owned Small Business (SDVOSB), highlighting five years of operational experience and a disciplined approach to business growth led by a retired Navy Senior Chief. SOVA Boat Club faces competition from Care Free Boat Club and upscale boat rental services but differentiates itself by offering flexible membership terms that include no long-term contracts and an easy cancellation process.
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General Information
Business Registration Number: SOVA Boat Club LLC.
Location: Chesapeake, VA, United States
Length of Operation: 6-10
Number of Employees: 26-50 Employees
Annual Gross Income: $1M to $10M
Annual Gross Expense: $1M to $10M
Open to Loans: YES
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Funding Usage
Expansion of our business in Virginia, advertising, marketing and infrastructure improvments.
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Business Plan
Future Date: 1 Jan 2029 Revenue: $5.38 Profit: 20% EBITDA $5,510,000 is $1,102,000 Measurables: 5 locations 500 memberships 45 boats $28,500 per month Membership Fees $385,000 per year $112,500 per month in recurring revenue $1,350,000 per year $8,500 per month in FBC+ recurring revenue $102,000 per year What does it look like? • Retention of core group of employees (leadership team) Nate, Maddie, Misty, Russell, Janet, Olivia, Keith and Barbara • Hourly maintenance person for Keith • Dedicated HR solution • Add a maintenance vehicle • Hire/have 50 dock staff • Reservation Line Support • Membership experience intern • Additional training captains (Russel/Keith/Maddie) • Bigger shop • Boat dealership or process for selling boats I'm a Service-Disabled Veteran-Owned Small Businesses (SDVOSBs) with 5 years in operation as of 2023. As a franchise we follow directions to help grow our business. Since I'm a retired Navy Senior Chief, I'm REALLY good at following directions and leading a team.
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Self Identified Competition
Care Free Boat club and high end boat rental companies. No long-term contract or commitment. 60 days written notice to cancel. Low use plan to hold low use members.
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