| Author | Message | ||
     Rexter |
I am considering purchasing a small motel about 6 miles from Helen and making it into a motorcycle resort with a store, campground and possibly a repair shop. I just wanted to get some feedback to see what people thought. Do you think it could work out?  | ||
| Barker |
Any ideas for a winter/non-motorcycle revenue stream? | ||
| Kenm123t |
Nice looking place Where is Helen? | ||
| Rexter |
Helen is in north GA. It is a tourist town and attracts a lot of motorcycle traffic due to it's location at the base of the Appalachian mtns. I may just open 8 or 9 months a year. | ||
| Glitch |
Hey Rex! It's Dave. I think you ought to go for it. There's a big hole left after T.W.O closed. Winter would be the thing to have to get over, after OctoberFest is over in Helen, there's not much left until late March, or April. I'll come up and work for ya  | ||
| Panhead_dan |
I think it could work out fine. The guy that invented the pet rock got rich quick. It just needs the right management. Are you up to it? Very cool idea! | ||
| Rexter |
There is a lot to think about and consider. It is still over our budget, but hopefully, the price will get reduced. | ||
| Moxnix |
If the seller has opened the books to you for the last three years, and the math works for you, I recommend anything that gives one a decent amount of time off every year. If seller says there is a lot of cash income that doesn't show in the books, don't believe it. Talk to a good accountant who is on your side, not the seller's accountant, with the numbers they give you. If the numbers don't work out at the price, offer what will work, using the records of income & expenses. Sounds like fun to me. I suspect a lot of bikers would use an in-house mechanic & oil change/tire change set up. If gas goes to $5 a gallon next summer, motorcycle people may be the only folks touring. | ||
| Hughlysses |
Can you have it ready in time for March Badness?  | ||
| Glitch |
+100 Hugh! Rex, knowing you and Susan, I'll bet you'd be successful. If you're up to it, check the public records and see what some comparable properties are going for, find the low average, and make a low ball offer. If y'all feel like getting the ball rolling. Also if you'd like some more feedback, and you haven't already, ask over at advrider.com That's a real good group of people there, and most know the area you're thinking about. There are a couple properties up that way going for cheap if you wanted to start from scratch. Good luck, and I hope y'all go for it! | ||
| Rexter |
It is bank owned, so there is no data available from the previous owner. However, I am married to an Accountant. There is no way to have it ready by March. It would take at least 2 months to close because of due diligence, business loans, etc... Then there would be another month or 2 to get it ready to open, so sometime in April or May would be the earliest possible opening. | ||
| Pwnzor |
We need this. I moved to Georgia just in time to visit T.W.O. only twice... That's the kind of place I would come to in the warm months just to hang out, eat, drink and spend my extra money on "whatever". | ||
| Paint_shaker |
I think it would work (could be wrong though). Right location + reasonable lodging/camping prices + great food + small motorcycle accessory/ repair shop (should)= success!! I am thinking if there is a lodge or central gathering area and you have great food, it might provide a little income during the really cold months. Maybe GT or Brit of T.W.O. fame can help you out? But then again, I've never ran a business... | ||
| Moxnix |
Bank owned? Local or national bank? If national, offer 25% less than they are asking, with financing through them. And they cover the closing costs. Just a thought. Good luck. We bought a repo to live in from Wells Fargo with the intention of minor remodeling to accommodate a disabled child, per above. Banks don't like having these on the books for long. | ||
| 86129squids |
Up front, you're thinking the right thoughts- the numbers MUST make sense in the most conservative way, and if wifey can extrapolate educated guesses (RESEARCH!!) you're on the way. My next thought: Marketing, demographics, biker population centers, variegate the groups, bicyclists, DS'ers, even offer super cut rates for folks unafraid of cold weather, and so on. Every one of the 12 months will have special opportunities/challenges to ops, and to the bottom line. And- if the numbers work out (after a few years) to close when it's REALLY cold, take advantage of it- vacations are completely underrated. Good luck- and keep things updated over time here on BW!  | ||
| Moxnix |
A business has three areas of value, 1. the historical income stream couples with the "intangible" of goodwill the operation enjoyed, 2. the FFE (furniture, fixtures and equipment) that is current market value of whatever used stuff is there (hard to appraise), and 3. the real estate. It appears you will be buying only the hard assets. Your Mrs., being the accountant, can work out what from the business is deductible, like insurance, vehicle mileage, cell phones, and the like. Sounds like an exciting opportunity. | ||
| Iamike |
We like to stay at a motel in Eureka Springs, AR that is owned by a biker. What makes it stand out over the other 100 inns in that town is that he has road maps of the obscure roads in the area, will let you use his shop for repairs if needed, and are nice people. I would also suggest information on hiking trails, kayaking, etc. to spread out your base. Have a good reason for people to return. | ||
| 86129squids |
Good point- this place doesn't have to be biker exclusively... in this area, anything outdoors is a draw. Rex- got any more pics? | ||
| Ulywife |
One of the things I loved about TWO was that while M2nc was out riding, I could hang out on the porch at TWO and not feel left behind. There was always someone to talk to and visit with. One Buelltoberfest I had dinner with someone different each night. It felt more like a family reunion than sitting down to a table where you didn't know anyone. I love the idea of a repair station, especially a tire changer! We've had to change more than one tire while on the road. Best of luck to you! You know this group is always looking for a bike friendly place to hang their helmet. | ||
| Rexter |
More pictures can be found here: http://rides.webshots.com/album/582096356EeeGLn | ||
| Thumper74 |
Yeah, a No Mar is easy to use and affordable. Keeping some popular sizes handy would be terrific, 180/55R17, etc. Motorcycle specific oils in the most popular weights, oil filters, common light bulbs, etc. | ||
| Mr_grumpy |
Just a thought but if there's any off-roading around, you could maybe target the 4x4 crowd for when the riding season ends. Petrolheads are petrolheads whether on 2 wheels or 4. | ||
| Ulynut |
If I was touring in the area, I think I would want to stay at the place that has a repair shop/store. It would be really nice to get a fresh set of tires for those awesome Georgia twisties. |
