SeaCart Trimarans Update and Q & A
Q: How did all this get started?
A: Well, a sailing colleague contacted me, out of the blue, one day and asked how much I would want for the whole SeaCart business – molds, boats, brand and all.
Q: What was your reaction?
A: At first I was surprised, and flattered. But then I got thinking: what if I sell this impeccable brand that I’ve built from scratch and do something different? It’s been 10 fun years launching two boats with lots of international racing and victories.
Q: Which races have you and your boats won?
A: SeaCart has been on the winner’s podium at Cowes Week, Round the Island Race, Tour de Belle Isle, Kings Cup, Round Gotland Race, Faerder Race, Heineken Regatta, Ft. Lauderdale to Key West Race, Voile de St. Barth’s, and the Australian Nationals, to mention a few.
Q: If you decide to sell, what’s in the package?
A: We have the designs, molds, CE certification as well as the web and social media sites for both the SeaCart 30 and the SeaCart 26. We have at least 8 completed SeaCart 26s and some 5,000 leads in our CRM system (Customer Relations Management). These leads are primarily individuals around the world, as well as builders and hardware suppliers and sailing journalists. But we also have a 28-footer in there as well, since the mold for the main hull of the SeaCart 30 can be easily adapted to 28 feet with an insert in the transom area to create a mold for a SeaCart 28. This version would use the same 28-foot floats as the SeaCart 30.
Q: So a buyer would actually get three SeaCart models in the inventory?
A: That’s right.
Q: Why reduce the 30-footer to 28 feet? Why not just build a 30?
A: Well, there are two reasons actually. First, to differentiate it from the more extreme 30-foot carbon racer, and then a future 28-foot fiberglass version would also be much more affordable and thus open a potentially larger market. Remember, Australia and New Zealand have their growing 8.5m (28-foot) rule, and in the US the 28-foot market has been substantial. Corsair has sold thousands of boats over the years. We know the SeaCart 30 is a very competitive design, winning races as we speak. With that in mind a more affordable 28 version should have a given market.
Q: How much do you think the company is worth and what are you willing to sell all this for?
A: I’m the sole owner and I estimate the net worth to be about $2.0M, but I’m open to suggestions. I’ll be looking at all serious offers depending on what’s included.
Q: Sounds more than reasonable considering the investment cost of tooling, the existing boats and the whole brand and goodwill. Who do you think will be calling now?
A: This is an opportunity if you have a build facility and/or are looking to expand into multihulls. Or maybe you just want to jumpstart a business by gaining at least four years of development time, while also avoiding large, unsure investments. I’m still in discussions with the first party, but if you know of any additional contacts that might be interested, let me know and maybe we can do business.
Questions by Richard Cadwalader
P.S. If you would like to meet up, I’ll be at the Yacht Racing Forum in Geneva Dec. 7–8
Founder, Creative Director
Mobile: +46 (0)707 42 84 66