Potter Performance Engines Closing
08-01-2016 | 04:27 PM
#11
Banned
Joined: Jul 2011
Posts: 9,594
Likes: 45
From: Ft. Worth TX
I hear that try running a full blown boat dealership and in 5 years of straight drought and then one year of extreme flooding - Talk about making the landlord rich in any major market area. To do anything with boats requires huge property footage plus all of that maintaining on top off.
So I will agree with the real estate end of things 100 %. It is way overpriced especially when retail consumers buy parts off the net anyways. Marine storefronts and marine engine builders are becoming less and less ever year and the ones around are making less and less if they do not own their own land & building that is paid for.
I bet if they had a parts selling end of things on top of - that ended up not worth stocking any of it currently. Harder than hell to sell marine parts to retail consumers. 9 out of 10 buyers do not buy from a standing boat store or a marine engine builder for their parts.
So I will agree with the real estate end of things 100 %. It is way overpriced especially when retail consumers buy parts off the net anyways. Marine storefronts and marine engine builders are becoming less and less ever year and the ones around are making less and less if they do not own their own land & building that is paid for.
I bet if they had a parts selling end of things on top of - that ended up not worth stocking any of it currently. Harder than hell to sell marine parts to retail consumers. 9 out of 10 buyers do not buy from a standing boat store or a marine engine builder for their parts.
Last edited by BUP; 08-01-2016 at 04:38 PM.
08-01-2016 | 05:15 PM
#12
Registered
Joined: Jun 2005
Posts: 11,903
Likes: 1,140
I hear that try running a full blown boat dealership and in 5 years of straight drought and then one year of extreme flooding - Talk about making the landlord rich in any major market area. To do anything with boats requires huge property footage plus all of that maintaining on top off.
So I will agree with the real estate end of things 100 %. It is way overpriced especially when retail consumers buy parts off the net anyways. Marine storefronts and marine engine builders are becoming less and less ever year and the ones around are making less and less if they do not own their own land & building that is paid for.
I bet if they had a parts selling end of things on top of - that ended up not worth stocking any of it currently. Harder than hell to sell marine parts to retail consumers. 9 out of 10 buyers do not buy from a standing boat store or a marine engine builder for their parts.
So I will agree with the real estate end of things 100 %. It is way overpriced especially when retail consumers buy parts off the net anyways. Marine storefronts and marine engine builders are becoming less and less ever year and the ones around are making less and less if they do not own their own land & building that is paid for.
I bet if they had a parts selling end of things on top of - that ended up not worth stocking any of it currently. Harder than hell to sell marine parts to retail consumers. 9 out of 10 buyers do not buy from a standing boat store or a marine engine builder for their parts.
I have a friend with a retail service business with a flex space warehouse. His plan at retirement is to sell the business to whoever can write the check and then sell the warehouse for 300-350K (whatever it is worth at the time). He fully expects the real estate to exceed the business value by double. If he can walk out the door with 500K towards retirement he thinks that is a pretty good plan!
He bought the real estate years ago (for significantly less) but realizes that whoever buys the business won't be able to afford market rents at that shop so his "separate sale plan" came into play.
