Search is widened for John O'Groats ferry business buyer with £1.4m asking price
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The owners of John O’Groats Ferries have widened the search for a buyer, with the business now on the market for £1.4 million.
The asking price is higher than when the company was first put up for sale a year ago, having been run by members of the same family for more than half a century.
At that stage, offers over £1.25 million were being sought but the intention now is to sell the entire company, which includes several buildings. It is now being marketed by Christie & Co, and the associate director handling the sale calling it "quite a unique lifestyle business".
In the meantime John O’Groats Ferries is continuing to operate as normal and the summer season is said to be "going very well indeed".
The business is run jointly by Deborah Fermor, her brother Ivor Thomas and Deborah’s husband Fred. There are about 10 staff.
Daily services operate between John O'Groats and Orkney from the beginning of May until the end of September on the passenger ferry Pentland Venture, with wildlife cruises every day until the end of August.
Mr Fermor said: "We did have some very solid interest previously from another ferry operator, but I expect they are busy with their own operation at the moment. So we’ve decided to widen the sale by using Christie & Co as a formal agent, and we’ve decided to sell the entire company, which includes several buildings in John O’Groats.
"We are really seeking an operator, whether local or distant, who will be able to continue it in the same vein as we have run it, so that the area can continue to benefit from the service that we have run.
"We want to do this because we would prefer to sell it with a future rather than any other potential scenario. I would really urge anyone with an interest in it to get in touch with Christie & Co.
“We’ve enjoyed running things here at John O’Groats Ferries for many years but we feel it’s a good time to try something new.
"We’ll be taking life a bit easier and travelling more but in some ways it’s a reluctant sale. I say this because it has been a very enjoyable way to earn a living and we’ve had a lot of laughs throughout the years.
“There is undoubtedly scope for a new owner to expand the business in many ways.
"We have concentrated on the core product – running a good ferry service and giving visitors wonderful memories. However, we’ve not even broken the surface of providing ancillary services, catering souvenirs and the like, and there are opportunities aplenty there.
"There is also further scope to increase the range of tours offered and a new owner could easily increase turnover there too. As a five-months-per-year trading business, there is massive scope to increase turnover by extending the operating season.
"The most important opportunity, though, for a new owner would be the chance to run a business with a great work-life balance and good team, in a wonderful part of the world."
Mr Fermor added: "As far as business is concerned, it’s really going very well indeed this summer and we are certainly pleased with it. It is recovering nicely from Covid now."
Mark Lavery, associate director at Christie & Co, who is handling the sale, said: “John O’Groats Ferries Ltd is quite a unique lifestyle business in a stunning part of Scotland. The seasonal business currently operates for five months over summer but there is scope to extend this trading season.
"The opportunity gives any prospective buyer a ready-built, robust business with a reliable, strong income stream from day one and would suit an operator who would relish a true ‘lifestyle change’ business with high profit margins.”
The business was started in 1971 by Ian Thomas, father of Deborah and Ivor.
