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Old 05-08-2009, 07:37 AM
DV8 DV8 started this thread
 
30 posts, read 130,989 times
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There is a sign on the door of the Marble Slab Creamery in Cureton Town Center (Waxhaw) that they are excepting offers over $40,000 . I know for a fact that these stores cost $300k or more to build out from scratch... and that location is just over a year old... so all of the equipment and fixtures are brand new!!

It also says on the sign that you do NOT have to keep the Marble Slab affiliation... so you could even open your own creamery and add stuff like baked goods, chocolates, etc and save money with not having to be a franchisee.

Anyway, that price is a steal, so just wanted to pass it along as it looks like a great opportunity at a killer price...
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Old 05-08-2009, 07:46 AM
 
Location: South Charlotte
1,435 posts, read 5,230,855 times
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The fixtures alone are at least double that probably.
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Old 05-08-2009, 07:56 AM
 
Location: Waxhaw, NC
494 posts, read 1,183,182 times
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WOW...that is a great location too!! We used to get ice cream there often!
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Old 05-08-2009, 08:01 AM
 
Location: Way up high
14,127 posts, read 20,906,379 times
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Wonder why it went belly up? I would consider that before purchasing that location..
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Old 05-08-2009, 11:30 AM
 
1,877 posts, read 4,315,937 times
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Quote:
Originally Posted by himain View Post
Wonder why it went belly up? I would consider that before purchasing that location..
Maybe they just dont want to run a business anymore? I know it can be nerve frazzling, for sure!! But, good advice too- if a business is failing the owners sure wont volunteer that info!
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Old 05-08-2009, 02:04 PM
 
223 posts, read 472,552 times
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Or maybe it is just the buy out on the lease......be careful.....too good to tbe true usually is
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Old 05-08-2009, 02:53 PM
 
63 posts, read 252,746 times
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You probably have to assume the debt also.
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Old 05-09-2009, 10:40 AM
DV8 DV8 started this thread
 
30 posts, read 130,989 times
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Quote:
Originally Posted by Charlottean View Post
The fixtures alone are at least double that probably.
I can tell you for a fact that the equipment alone cost $90k. Nevermind the fixtures, upfit, and small wares still in the store. I also know for a fact that the original loan for the store was over $300k. So yeah, whoever buys that store is pretty much stealing it legally.

We actually know the owners. After I saw the sign and posted this topic I called them and we went out to dinner the other night. I asked them if they minded about the topic and they said no. I didn't even think about asking them b/c I was so shocked to see that number on the sign.. but they were very cool about it. I knew about most of the specifics, but they gave me more info. They were very open about everything b/c it pretty much is what it is at this point... a straight up asset sale agreed to in conjunction with the bank to just help put everything behind them. Read below for more

Quote:
Originally Posted by himain View Post
Wonder why it went belly up? I would consider that before purchasing that location..
The main reason was due to a lawsuit at a completely unrelated location. They had to file Chapter 7 to stop the lawsuit as negotiations stalled and the landlord was getting greedy. Doing that forced them to close 2 other locations they owned regardless of how well they were doing. One location was taken over by another franchise about 2 weeks after they filed, so that was handled quickly. The Cureton location took a bit longer due to negotiating an agreement with the bank. Since they reached an agreement with the bank they were able to put the sign in the window. They also listed it with a commercial sales agent.


Quote:
Originally Posted by Hoagie58 View Post
Maybe they just dont want to run a business anymore? I know it can be nerve frazzling, for sure!! But, good advice too- if a business is failing the owners sure wont volunteer that info!
See above

Quote:
Originally Posted by dez181 View Post
Or maybe it is just the buy out on the lease......be careful.....too good to tbe true usually is
Nope... no lease buyout here. It's an asset purchase and you're simply buying the location complete with equipment and fixtures. Anyone who buys the location would have to negotiate their own lease with the landlord.

Quote:
Originally Posted by Wookie21 View Post
You probably have to assume the debt also.
Nope. If you make an offer for $50k, all that is yours for $50k. The bank is approving the sale, so once you close, you own all of that stuff free and clear. So like I said above... stealing it legally.

Hopefully it works out for them as this is the last piece of the puzzle to move forward. So if you know anyone interested in a business opportunity, have them check out the sign in the store!
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Old 05-09-2009, 10:55 AM
 
223 posts, read 472,552 times
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are you the owner or something?
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Old 05-09-2009, 01:54 PM
DV8 DV8 started this thread
 
30 posts, read 130,989 times
Reputation: 21
Quote:
Originally Posted by dez181 View Post
are you the owner or something?
As mentioned above....

Quote:
Originally Posted by DV8 View Post
We actually know the owners. After I saw the sign and posted this topic I called them and we went out to dinner the other night. I asked them if they minded about the topic and they said no. I didn't even think about asking them b/c I was so shocked to see that number on the sign.. but they were very cool about it. I knew about most of the specifics, but they gave me more info. They were very open about everything b/c it pretty much is what it is at this point... a straight up asset sale agreed to in conjunction with the bank to just help put everything behind them. Read below for more
They live in our neighborhood.
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