The $16M Golf Cart Business That Refuses SBA Loans

A $16M golf cart and low-speed vehicle dealership in Virginia Beach sounds dreamy… until it’s not.Business Listing - https://www.bizquest.com/business-for-sale/new-and-used-cars-and-golf-cart-product-lines/BW1924052/Sponsored by Inzo Technologies and Hire with NearUpgrade your IT with Inzo Technologies — complimentary IT audits for searchers at http://inzotechnologies.com/Hire top-tier Latin American talent with Hire with Near — https://hirewithnear.com/Website: https://www.acquanon.com/Twitter: https://twitter.com/acquanon✉️ Subscribe to our Newsletter and get more deals like this every week: https://www.acquanon.com/newsletter🔔 Subscribe to Acquisitions Anonymous: https://www.youtube.com/@AcquisitionsAnonymousPodcast?sub_confirmation=1🎧 Listen to our full episodes on your favorite podcast platforms: https://www.acquanon.com/episodesEpisode Description:In this episode, Michael, Heather, and Mills dive into a fascinating but frustrating $16M revenue business based in Virginia Beach, Virginia. On paper, it’s a dream: an oceanfront golf cart and low-speed vehicle dealership with high rental income and exclusive distributorships. But as the hosts peel back the layers, they uncover red flags like no SBA eligibility, murky financials, and a seller with too many side hustles. They discuss the appeal of lifestyle businesses in resort towns, what exclusivity might be worth, and the dangers of unclear cash flows. A classic example of “looks great—until it doesn’t.”Key Highlights:$16M revenue dealership selling golf cart-adjacent vehicles and earning $30K/month in rentalsLocated in prime tourist real estate in Virginia BeachMultiple red flags including no SBA loan acceptance and lack of disclosed cash flowSeller has several unrelated businesses, raising questions on financial transparencyDiscussion around dealership models, exclusivity, and rental income valueInsight on how these types of lifestyle businesses can be great—for the right buyerWhy this deal gets a “thumbs down” despite some appealing elementsSubscribe to  weekly our Newsletter and get curated deals in your inboxAdvertise with us by clicking hereDo you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.Do you enjoy our content? Rate our show!Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.For inquiries or suggestions, email us at [email protected]