Current
Engagements
Mako: $5.1M Revs, $1.8M EBITDA Tech-Enabled Golf Cart Rental Business
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Revenue
$5,100,000
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Cash Flow
$1,800,000
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Location
Southeast U.S.
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"PROJECT MAKO" is a tech-enabled golf cart rental business serving high-end beach communities in the Southeastern US. The Company is best known for its premium fleet, exceptional service, and proprietary software which drives operational efficiencies and attractive margins. MAKO primarily caters to vacation home renters along with event coordinators and wedding planners seeking reliable, classy, and street legal transportation options. This is a best-in-class operation in an otherwise sleepy, fragmented industry.
The Company owns 350+ late model, street legal carts which are well-maintained by in-house technicians. The average cart is ±3 years old with significant useful life remaining due to the seasonal nature of the business. Replacement capex over the next several years will be minimal due to recent investment in the fleet resulting in a very strong cash flow profile.
MAKO is led by a strong management team and core staff of ±35 employees who consistently generate 5-star reviews. Management has successfully entered multiple markets and envisions replicating the model across other affluent beach communities while maximizing fleet utilization in existing markets. The Company’s proprietary technology platform offers scalability and its proven digital marketing, and channel partnerships continue to build brand awareness in local markets.
MAKO has grown each year since inception and enjoys exceptional Adj. EBITDA margins of 35%+. Revenue in 2024 was approx. $5.1M with Adj. EBITDA of $1.8M. Management is budgeting consistent top-line levels in 2025 with slightly stronger EBITDA margins.
Current ownership is absentee and seeks liquidity to fund other business interests. Management will continue to run the day-to-day operations. This opportunity is ideal for buyers seeking an established cart rental platform to scale or as an add-on to a related business. Alternatively, this could be operated as a lifestyle business for an entrepreneur seeking to work part-time in a desirable beach community. SBA financing is available to qualified investors.
Facilities
MAKO leases office space and storage facilities from third parties which will be assumed by new ownership. Corporate offices include a large indoor facility where carts are maintained and stored in the off-season. Satellite locations offer convenient pick-up/drop-off and support quick turnarounds in the busy seasons.
Market Outlook / Competition
The US golf cart rental market is expected to grow 2%-3% annually over the next five years. MAKO targets growing, affluent beach communities that are densely populated and promote strong fleet utilization. Competition is limited to smaller, mom & pop rental companies that have older fleets. Management believes they are the leader in their core markets and gain market share through superior service levels, quality inventory, and branding initiatives.