45k former burger joint with laundromat in back available to buy in small resort town with multiple retail stores for sale atm. The town in prosperous with nice homes and cottages with small museums and a beach.
Should I convert to take-out coffee and donuts / fries with drop-off laundry?
I plan on living there inexpensively and hope the town will recover as many around it already have.
Thoughts?
Small tourist town with retirees and commuters that has several of the stores on the main street currently up for sale, including the grocery store. The houses and cottages are all well maintained and the churches and museums are nice.
Some of the small towns nearby have become more bohemian with artist studios and tea houses. The populationof the village 1000 and township 7000.
What else could I do / sell?
Whatever you do, stay away from food or beverage businesses. The failure rates are huge.
Also, if there's lots of retirees, in order for you to avoid the feast-famine cycle of tourism, you have to have something for them. Think of what they will NEED and offer that. Also, it's a good bet that they'll generally be cheap as fuck, so stay away from luxury stuff and things perceived as upscale or fancy.
For example: They're older and will need help just on the basics. So, instead of a high overhead laundry (which will fail because they won't be able to physically cart their stuff to your establishment), maybe have an in-home laundry service. Also, things like lawn service, landscaping, handyman services would all be better ideas.
Just my two cents.
On the one hand I love the area and can see the property itself as a long term investment due to the imminent rebound. This would also be an inexpensive place to live. On the other hand though, half the shops are for sale.
I guess I need to do some research and meet some people there. Maybe join their church and see if they have some news bylaws / taxation?
>>1228599
Never bet on a rebound - some places never really do. An inexpensive place to live, though, I can get behind. I'm living in a cheap-ish beach town too, there's a lot to be said for it. (But, then again, I'm semi-retired, so I don't necessarily need a business to flourish.)
But, if half the shops are for sale, that's a pretty bad sign. Just for kicks, though, choose a few of them and contact the owner. Tell them that you're thinking of purchasing a business, maybe they'll share some info about their earnings or profitability.
What area is this, btw?
>>1228048
>"Aww man, I just spilled coffee all over my suit!"
>"No problem, sir! Just come around to the back!"
Your plan is genius, op
I'm driving out there now to check the place out again.
Will report back.
You could turn it into some kind of a recreational center/bar for the elderly to play chess, cards, etc with bingo nights twice a week or so
http://www.kijiji.ca/v-commercial-office-space/norfolk-county/port-burwell/1158216860
Went to look again and was not feeling it. Pallets in the back on the ground and really cheap inside. The food prep area is right in front of the main window but the order window is inside looking into the dumpy laundry area.
I spoke with the Seller who said he was in the process of selling it. He didn't take down my contact information or ask for it. He seemed kind of disorganized.
Everything looks dumpy until it's cleaned up, re-furbished and painted.
Still, why the fuck would take a picture of the store front with a busted car, no hubcaps, RIGHT in the middle of the shot? The guy selling is obviously clueless
I've been offered a job in Toronto. My dreams of semi-retirement in a sleepy little village are just that, dreams.
Still, this little town may get its act together and I may have missed out.
>>1228620
>
Not trying to be rude, but what the fuck is "partial" retirement?
>>1231457
If youre financially independant but dont have enough for full retirement , meaning youre passive income streams cover the bare essentials but not projected recreational money needs or future increases.
So you could partially retire (achieve financial independance) but with the unserstanding that you would continue to build the nest egg for when you produce larvae
>>1231463
Kind of, yes.
In my case, I have enough, but I'm still pretty young, so I'm planning on taking up a contract or two from time to time to keep myself busy. Hence semi-retired.
