Personal Watercraft Product Manufacturing Opportunity with Patent

Portland, OR (Multnomah County)

Sit Down and Paddle Like Kayak
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Asking Price: $750,000

Established: 2017

Personal Watercraft Product Manufacturing Opportunity with Patent

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Asset Sale Description

Product Engineers and owners of this company have researched, designed, tested and patented an awesome high demand personal watercraft product that is ready to take to market. This is an ideal acquisition opportunity for an existing watercraft manufacturer, investors or entrepreneurs seeking a product to take to market. This personal watercraft has a sleek, attractive, unique multi-functional design and can be utilized to paddle from either a sitting or standing position like a kayak or stand up paddle board. Product specifications include a weight of approximately 50 pounds, 9 feet in length, 4 feet wide and a draft of 6 inches with three hulls. Most importantly, its unique patented design provides superior stability contributing to a safe water experience and expanding functionality. It is unsinkable and highly stable which allows ease of use getting in and out of water and increases overall safety and functionality on the water. It allows the user to stay dry under most conditions and cannot trap the operator under water if capsized. This is an amazing new product which appeals to a variety of consumer markets and always draws a crowd while on the water. Primary asset of this sale is the intellectual property and patent along with training from seller to support manufacturing product. Seller is seeking lump sum payment of $750,000 in addition to a licensing agreement and is open to negotiate terms with buyer. This product has been appraised and the list price is under appraised value.

Detailed Information

Location:
Portland, OR
Facilities:
This is an asset sale of intellectual property, equipment and inventory only. The buyer would need to have or secure manufacturing and distribution facilities. The owners of the company initially set out to create a watercraft that would allow increased safety and security on the water and provide a vessel that would not tip, allowing people with disabilities, children, seniors and others to enjoy a safe recreational water experience. Through testing and development, they have found a variety of different uses for the watercraft in addition to the initial intended market including various recreational uses, fishing, and recreational rentals. The seller is now seeking a buyer who is equipped to complete the next phases of manufacturing, distribution and sales necessary to take this product to the consumer level. This attractive, uniquely designed kayak/paddle board manufactured through a process of thermoforming utilizing Formalloy E3400 and welded to DVS standards. Formalloy E3400 is a micro-threaded thermoplastic polyolefin (TPO) that is weatherable, UV-Stable with superior color retention when compared to fiberglass and allows for a light, durable, eco-friendly alternative to fiberglass using no chemicals, glues or solvents. In addition to its superior manufacturing the design allows for a product unlike any on the market that is stable and not easy to turn over, comprised of three hulls, unsinkable, able to carry three persons without danger of capsizing, highly durable and difficult to damage, can be paddled sitting or standing, perfect for either stand up casting or sit down fishing, ability to be used with a motor, suitable for rental at resorts and beach hotels and highly attractive new look functional for a variety of family recreational personal watercraft uses. This watercraft has a variety of target markets and can be sold and distributed on an international level. The consumer has a variety of accessories that could be added to the watercraft based on its functional use.
Support & Training:
1 week
Reason for Selling:
Seeking Buyer to Take Product to Market
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Daren Bucklin

Asset Sale Listed By:
Daren Bucklin

Transworld Business Advisors of East Portland

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