Bike Vendors

[Belmont Resident]

Originally Posted by jmen24

When Lou and Harvey sold the LP, they kept the bike week vendor space rental side of the property (it was not a part of the original sale). The second year after the sale, the current owners negotiated to purchase those rights, they found out why that is an important part of that locations revenue stream. When L&H ran things, they made more off vendor rentals in one week than the LP made all year as a seasonal establishment by close to 115%.

As of two years ago, the current vendor landlords could not keep up with the vendors demands for power, water and other items of need. Don't know if they have been able to figure it out.

Bike week makes more money for Weirs businesses, than you could believe. Whether it is vendor space rental or actual sales, it is a serious cash flow.

If things are going sooo well then why not dump some of those profits into that run down dump they call a drive-in.
Don’t get me wrong I like the drive in and I am glad it is here, but come on the place is a dump. A new bathroom would be a start; the existing ones are only a small step up from out houses.
It isn't like they are charging a couple of dollars to see the movie.

[jmen24]

Originally Posted by Belmont Resident

If things are going sooo well then why not dump some of those profits into that run down dump they call a drive-in.
Don’t get me wrong I like the drive in and I am glad it is here, but come on the place is a dump. A new bathroom would be a start; the existing ones are only a small step up from out houses.
It isn't like they are charging a couple of dollars to see the movie.

You don't know Larry very well. If you did you would understand why his profits are not put back into the drive-in. Must folks have done this research, but how do you lose millions of dollars in a ponzi scheme, when you own run-down properties?

Not every business owner reallocates a percentage of profit for business improvements or capital reserve. Some put it in their personal coffers and others spend it on whatever. There is no set law on how profits need to be distributed, some options are wiser than others.

Lou and Harvey never put those profits back into the LP either.

The current owners of the LP had already made a serious investment in the new LP. It was after the fact that they realized what they had left on the table and worked to secure that revenue.

This is the week when all those vacant lots come to life.

[Belmont Resident]

About 6-7 years ago my wife decided to get into rental property. Long story short she wishes she had not but both buildings consisting of 5 units have been completely remodeled by us and are in 100% better shape then when we got them.
We decide ahead of time we were not going to be slum lords.
Some people just have no morals, while others do.

[jmen24]

Yup, it takes all kinds!