A new wrinkle
14 May 2009
• Shelburne, NS
by Mike
We have had a new wrinkle in the hunt for a small business. Up to now we had been looking at places that we could fix up into a B&B (the B&B concept is Barb's. She has always wanted to operate one) with the result that we would be paying about $160K for the property and adding another $50-60K to make the necessary additions, and then we would have about a year in which we would be building up the business. This morning we discovered that there was an established B&B that was for sale in the area - two of them, in fact, but one was actually an inn and was beyond our means. The other however has an established but expandable business that would appear to be able to support the debt load and moreover, it would be a matter of stepping into a going concern. The price would be nearly $300K, but that would include everything including the name, the materials, the property, etc. This is looking very attractive and we have asked for a copy of, or access to, their "books" to confirm our concept of the business plan. Its location would be ideally suited to providing a base for traveling tourists, hunters, sport fishermen, cyclists, canoers and kayakers, bird watchers, artists, musicians, etc. There is even a place in the basement that used to be a restaurant that we are considering making into a studio gallery for selling arts and crafts.
As of now the weather forecast looks like Saturday should be the best day for us to head out for Halifax so that will give us the day to visit the municipal development agency as well as the local ACOA offices.
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