$85,000 is enough to buy a nice boat. Steve Brodie used that much money to buy an entire sailboat company.
The News & Observer features a story on the new owner of Pacific Seacraft and how he bought an entire boat company for a modest price.
According to the News & Observer….
Brodie spent $85,000 at the auction to buy the company name, boat molds, tools and five sailboat hulls.
The sailboats, which measure 31 feet to 44 feet, cost $250,000 to $1 million each. The company also makes a 38-foot trawler.
“He got a darn good deal,” said Mike Bradley, who leads the state’s effort to recruit boat makers. “It’s a darn good situation.”
Pacific Sailboats once produced over 140 employees building about 120 boats a year. The relaunched company will start with a much smaller staff, around 12 employees. Brodie hopes the company will grow quickly to employ many more workers.
Source: The News & Observer