Yum Yum Shop in Wolfeboro for sale

[gokart-mozart]

Originally Posted by secondcurve

I'm not certain, but I believe this has been for sale since the fall. At that price I don't know how even a sharp operator could make a go of it given the seasonality and thin margins of the bakery business.

I presume it's the 24' of lake frontage that has convinced someone (perhaps the listing agent) that it's worth taking a shot at the moon.

Agree that over a million, to operate the place as a bakery, would be quite a reach.

[Acrossamerica]

Operating that place as a food establishment would be a stretch at half that price particularly when the 24 foot of lake front is not accessible except through the building (there is a cottage taking up the rest of the lake frontage) and the cottage has a right of way directly through the middle of the parking lot.

But don't count out the "Hobby" business person. Over 2/3 of all downtown Wolfeboro businesses are hobby businesses owned by trust fund recipients, and spouses of people with real jobs. So there is always the possibility of catching a CT or MA expat. with a spare million or two after shedding the out of state pile for one in Wolfeboro and is bored or needs something to keep the other half amused.

Stayed tuned.

[Seaplane Pilot]

Originally Posted by Acrossamerica

Operating that place as a food establishment would be a stretch at half that price particularly when the 24 foot of lake front is not accessible except through the building (there is a cottage taking up the rest of the lake frontage) and the cottage has a right of way directly through the middle of the parking lot.

But don't count out the "Hobby" business person. Over 2/3 of all downtown Wolfeboro businesses are hobby businesses owned by trust fund recipients, and spouses of people with real jobs. So there is always the possibility of catching a CT or MA expat. with a spare million or two after shedding the out of state pile for one in Wolfeboro and is bored or needs something to keep the other half amused.

Stayed tuned.

So, from your perspective, owning and running your own business in not a "real job"? Sounds like something that would come out of the mouth of our esteemed POTUS.

[VitaBene]

Originally Posted by Seaplane Pilot

So, from your perspective, owning and running your own business in not a "real job"? Sounds like something that would come out of the mouth of our esteemed POTUS.

I think the point was that owning and running an unprofitable business as a hobby is not the same as running a business to make a living. At least that is how I read it.

[secondcurve]

Originally Posted by VitaBene

I think the point was that owning and running an unprofitable business as a hobby is not the same as running a business to make a living. At least that is how I read it.

I read it as Acrossamerica is a jealous, and frustrated person.

[Misha888]

Originally Posted by Seaplane Pilot

So, from your perspective, owning and running your own business in not a "real job"? Sounds like something that would come out of the mouth of our esteemed POTUS.

I am not sure why you are offended. Maybe it's because you are taking his words out of context. My husband and I are both business owners, and I didn't take offense because I know the economy and small shop owners around her. There are a lot of business (shop) owners who make a go of it in the lakes region, and are supplemented by another means.

He is just being honest in his assessment. Based on any kind of debt service from a donut shop, he is correct in stating that it won't be able to support a $1.2MM sale price based on standard commercial underwriting. Whoever buys that building at $1.2MM is going to need to pay cash. Do they have the same angst of losing their lease or their building because enough donuts didn't sell that day? Probably not. And if it's their last $1.2MM, they need a better financial advisor.

Maybe the realtors are hoping the State Police will buy it as they did the boat shop in Gilford? Then they can be on both sides of the lake.

[Rusty]

Originally Posted by Acrossamerica

But don't count out the "Hobby" business person. Over 2/3 of all downtown Wolfeboro businesses are hobby businesses owned by trust fund recipients, and spouses of people with real jobs.

Stayed tuned.

That is a well known fact and I have done renovation work for many of them. Money is not the main reason they are in business.

[camp guy]

I think this thread is beginning to get into waters it needn't get, and before somebody posts something "over the line", maybe it is time to relax and go on to something else.

Remember, for years and years the Yum Yum Shop was a staple in the business of Wolfeboro, serving several generations of residents and visitors, all of whom enjoyed the cookies, pasteries, donoughts, cakes, and more.

Times have changed, the present owners have decided to sell, and that is their prerogative.

Thank you to the Kelly Family for the sweets n' treats over the years.

[Rusty]

Originally Posted by camp guy

I think this thread is beginning to get into waters it needn't get, and before somebody posts something "over the line", maybe it is time to relax and go on to something else.

By your standards, what can we say that won't put us "over the line"?