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Old 09-16-2012, 08:19 AM
 
Location: Breckenridge Colorado
10 posts, read 33,817 times
Reputation: 17

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I've lived three blocks from main st Breckenridge for a decade and I can tell you main st has become incredibly busy in the summers. My wife manages a shop on main st and this Sept has been the busiest on record. Summer trafffic has easily doubled in the last five to seven years. I know many business owners including two that rely on the coffee/ice cream angle for at least half of their trade. It isnt easy. The going-out-of-business rate for these types of ventures is high. I don't want to discourage you, but think long and hard before diving in. Get to know the market well.Perhaps take on a job at one of the main st shops for a while.Become a local first. If you've already got $100k, keep it. And please please please do not open another T-shirt shop.

Last edited by Gampy970; 09-16-2012 at 08:50 AM..
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Old 09-20-2012, 09:38 AM
 
404 posts, read 703,228 times
Reputation: 433
I agree with whoever said there needs to be a good breakfast place. Call it Breck-Fast.
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Old 09-25-2012, 11:21 AM
 
Location: Colorado - Oh, yeah!
833 posts, read 1,382,261 times
Reputation: 1028
Quote:
Originally Posted by Gampy970 View Post
And please please please do not open another T-shirt shop.
My Breckenridge t-shirt is worn out though, if there aren't 20 stores how will I ever get another???
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Old 09-25-2012, 11:31 AM
 
Location: Wherabouts Unknown!
7,754 posts, read 16,452,867 times
Reputation: 9287
^^^^You could go to store #19 and buy one there.
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Old 09-25-2012, 06:13 PM
 
8,380 posts, read 7,369,618 times
Reputation: 18249
As someone that has owned a fairly large tourist resort in the Colorado Mountains, I will tell you the person that told you the season starts July 4th, and ends the weekend before labor day is correct. You may get a little on the weekend, before and after but those are the locals getting away before the crowd hits. But, (a big but) they are tight fisted and don't spend money.

As the old Colorado Mountain businessman joke goes, 'The Colorado locals come to town on the weekend with clean underwear and a $20 bill and don't change either one till after they leave town'. They are just out for a drive, and just look around a little to stretch their legs before getting back in the car to drive home. Many even bring a picnic lunch with them, to enjoy the mountains. They know that after July 4th it will be busy and crowed so they enjoy the mountains for a day, before the crowd hits.

The true summer season in the mountains (the tourist season) does not start till July 4th, and ends exactly one week before Labor Day. That is where you make your money. In ski areas, depends on the amount of snow and when it starts and when it ends. On a no snow (very little which you get every so often), the winter season is very dead.

I have been involved in owning one fairly large resort, and spent a lot of years in Colorado as a commercial real estate broker selling businesses so understand the resort business there. One of my sons was a restaurant manager managing the restaurants at the A-Basin resort, and in Breckenridge so know his experiences.

You certainly do not understand the Colorado Mountain Business Climate. You proved that when you thought a smoothie bar would be a good thing, and seeing some small crowd on a June weekend think you can make money there at that time.

Caution: Be very leery when looking a profit and loss statements, and income and expense statements. They very often are inflated there. Example. One time I was hired to go over and look at a Pharmacy in Grand Lake, and evaluate it for a potential buyer. The owner told them that he made a lot of money, and showed them a sheet. He opened the safe, and showed them a lot of cash he said he made at the store. He swore he made a lot off the books, was the reason it was in cash. He gave me the same tour. I pinned him down and asked where it came from, as with the drug record laws it was not off his one man drug store. Told me it was off of Mockasins and Magazines. A very small magazine rack, and a small display of Mockasins in the window, both dusty. I knew he was lying to them, and advised not to buy. Two months later an article in the Denver paper showed where the money came from. He was arrested for being a big illegal drug dealer, operating out of his little drug store. I never saw so many inflated income and profit statements as I saw in the Colorado Mountain communities. They sell because of illness so many say. That means they are sick of the business, want to unload on some poor sucker, and leave them holding the bag before leaving town. Have anything checked by a good CPA for your safety. Make sure you see their income tax returns for the previous 3 years.

If you want to open a business in the Colorado Mountains, you need to do a lot more research and find what is making money in the area. Remember the odds in a new business succeeding. 85% will not last 3 to 5 years. In other words, most new businesses go broke fast. In the mountain communities it is worse. Do a lot of market research before you jump into something.
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Old 09-25-2012, 06:36 PM
 
Location: Betwixt and Between
463 posts, read 942,912 times
Reputation: 420
Open a bank account in a local bank. Get to know your loan officers. Since they underwrite business loans in their community, they will have a pretty good feel of the types of loans that they would be willing to float. Take advantage of their experience.
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Old 09-26-2012, 06:33 AM
 
352 posts, read 564,163 times
Reputation: 306
Keep your 100K. Make a living working for someone else, let them take the financial risks. Keep your 100K.
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