You know that bar in Hell?

[BubbaDenkins]

It's up for sale.  Maybe we should all pitch in and buy it.  We could use it as a starting/ending point for rides.  But mainly for bragging rights  It's only being sold for $975k.  We should be able to clear that pretty quickly...


http://detroit.craigslist.org/off/258438069.html

[MilleArp]

....We should be able to clear that pretty quickly...

Only if you still allow the HD riders...

 

Actually, I stop at the MI Brewery before heading back east to home.  Non-smoking.  Free peanuts.  Real beer.

[MilleArp]

Orr........

Buy Inverness on N-Terr.  It's been closed fer years.  Never knew why.  I miss it, was a regular stop when I was out that way.
Should be able to get a good deal.

.

[CBRXXBLACKBIRD]

Only if you still allow the HD riders...

 

Actually, I stop at the MI Brewery before heading back east to home.  Non-smoking.  Free peanuts.  Real beer.

They have non-smoking bars?

[mxvet57]

They have non-smoking bars?

  it is Michigan  

[Mr.Awesome]

They have non-smoking bars?

A lot of the brew pubs in MI are non smoking. From what I have been told is they do not want the beer contaminated by the smoke. Not sure if that is true or not, but I like it.

[R Doug]

Crikey!  Nearly $1 Million for a 2,896 sq. ft. building?  That's $337 per sq. ft.

Now, let's see... it includes inventory (~ $10,000 to $20,000 in beer and liquor tops!).  So $975,000 - $20,000 = $955,000).

You can construct (including land) a new and very well appointed restaurant / bar for about $180.00 per sq. ft.

So, we know the bar cost ~ $521,280 + inventory of $20,000 gives us a total of $550,000 (rounding).

So, the current owner is looking for $405,000 in goodwill, which is just a little under what the seller is willing to provide seller-financing on to help w/ taxes on the capital gain.

The question is, how much in sales would it take to re-coupe your add'l $405,000 investment in the bar?  Assuming this bar, like most others, have a return on sales of 7.5%, that would be total sales of approximately $5,400,000 before whoever buys this begins to get a return on their investment.  That's a lot of beer.  

(sorry, I kinda got out of hand).

Anyhow, I let's buy it, convert it to non-smoking, and make it a hangout for ST.N people.    

[JimWilliamson]

All I can add is that this is the item that is needed to get the "How fast can we spend a million" thread notched up a bit.

[thread was from the FarkledUp site]

[BubbaDenkins]

Crikey!  Nearly $1 Million for a 2,896 sq. ft. building?  That's $337 per sq. ft.

Now, let's see... it includes inventory (~ $10,000 to $20,000 in beer and liquor tops!).  So $975,000 - $20,000 = $955,000).

You can construct (including land) a new and very well appointed restaurant / bar for about $180.00 per sq. ft.

So, we know the bar cost ~ $521,280 + inventory of $20,000 gives us a total of $550,000 (rounding).

So, the current owner is looking for $405,000 in goodwill, which is just a little under what the seller is willing to provide seller-financing on to help w/ taxes on the capital gain.

The question is, how much in sales would it take to re-coupe your add'l $405,000 investment in the bar?  Assuming this bar, like most others, have a return on sales of 7.5%, that would be total sales of approximately $5,400,000 before whoever buys this begins to get a return on their investment.  That's a lot of beer.  

(sorry, I kinda got out of hand).

Anyhow, I let's buy it, convert it to non-smoking, and make it a hangout for ST.N people.    

You have to remember, you're not just buying the business and its stock, you're also buying all the equipment and most importantly the name of the business and the customer base.  Without looking at the books, I can't say that $405k is a good deal or bad, but certainly not unreasonable out of the gate.  Based on the one time I've been there, I'd say you'd have to have this place open for a while to break even.  But, it does have that gimic of being in Hell, so there is some serious potential for it.  

I just heard that the lotto is up to $122 million or so, maybe I'll buy and ticket and pick this place up as an investment if/when I win

[xdbx]

i've prefered Zuke Lake Tavern to the bar in hell 10 fold.  Its just up a little ways just east of downtown pinckney.  Anyone that's been there will tell you its to die for.  

[MilleArp]

A lot of the brew pubs in MI are non smoking. From what I have been told is they do not want the beer contaminated by the smoke. Not sure if that is true or not, but I like it.

There's no law or anything, but yes, partially due to possibility of smoke ruining the beer brewing, but also, ruining the aroma for the patrons.

I seek out non-smoking establishments when possible.  No, not an anti-smoker or smoker-hater, as I am a Libertarian, just don't care for it.  So if I can avoid it, great!
Really do hate coming home with everything smelling like stale tobacco tho.... yuk!

 

[mxvet57]

There's no law or anything, but yes, partially due to possibility of smoke ruining the beer brewing, but also, ruining the aroma for the patrons.

I seek out non-smoking establishments when possible.  No, not an anti-smoker or smoker-hater, as I am a Libertarian, just don't care for it.  So if I can avoid it, great!
Really do hate coming home with everything smelling like stale tobacco tho.... yuk!

 

    + 1  

[mxvet57]

Really do hate coming home with everything smelling like stale tobacco tho.... yuk!

 

 

[sammyseaman]

Crikey!  Nearly $1 Million for a 2,896 sq. ft. building?  That's $337 per sq. ft.

Now, let's see... it includes inventory (~ $10,000 to $20,000 in beer and liquor tops!).  So $975,000 - $20,000 = $955,000).

You can construct (including land) a new and very well appointed restaurant / bar for about $180.00 per sq. ft.

So, we know the bar cost ~ $521,280 + inventory of $20,000 gives us a total of $550,000 (rounding).

So, the current owner is looking for $405,000 in goodwill, which is just a little under what the seller is willing to provide seller-financing on to help w/ taxes on the capital gain.

The question is, how much in sales would it take to re-coupe your add'l $405,000 investment in the bar?  Assuming this bar, like most others, have a return on sales of 7.5%, that would be total sales of approximately $5,400,000 before whoever buys this begins to get a return on their investment.  That's a lot of beer.  

(sorry, I kinda got out of hand).

Anyhow, I let's buy it, convert it to non-smoking, and make it a hangout for ST.N people.    

Liquor license's are crazy expensive in these here parts.

[919rider]

Liquor license's are crazy expensive in these here parts.

Yep, that's what I was going to say.

I'm all for no-smoking bars (by owners choice though, not law!)  The smell does get in the way of the enjoyment of the beer.  I can't imagine it actually tainting the beer itself, unless they store grain inside the bar.  The beers are stored in sealed containers and have hardly any contact with the atmosphere during the brewing process.

I've home-brewed a smoked porter using grain smoked on a smoker.  MMM-Good!  I couldn't imagine it with tobacco smoke though, YUCK!

 

Kevin

[forester]

Yep, our local store does not sell any liquor at the present moment since the liquor license was essentially being held for ransom at some ridiculous amount of money (nearly as much or more than the entire store is worth) when it changed hands.

The beauty of that bar is that it is a bit of an ICON, since it is the only bar (I think) in Hell.  Not in Pinckney, but in HELL.  

Sort of sells itself, doesn't it?  I think that is a ridiculous price btw, and there are WAY better bars than that, even though they are not as much of a motorcycling icon as a bar in hell is.  

As far as non-smoking establishments go, I am all for them!     I do not enjoy people smoking near me, and although I am not anti-smoking per se, I do not believe it should be allowed in nor around public establishments.  Smoke your ass off in your own home or in your deer blind if you want- I could care less as long as I don't smell that nasty shit.  I can smell that nasty shit blown out the crack of someones car that I'm following on the highway in the winter!  It sucks.  I understand that the state of Ohio has made public smoking illegal recently.    It's about time.  I wish they'd make that way here.

I'm about total freedom within the constraints of not doing harm to someone else.  If you are blowing nasty smelling smoke on me (even without considering the toxic chemicals it contains), then you are harming me, so public smoking does not fall within my parameters of being appropriate.

[basco]

I recently spoke to a party store owner that doesn't have a liquor license (only alcohol he sells is beer and wine). At least in my part of MI its about $100k for one.

[olderigetfasteriwas]

It must be Hell, already has the Dale Jr. banners hanging from the ceiling. YEEE Fucking HAW!

[TheRedOnesAreFaster]

The beauty of that bar is that it is a bit of an ICON, since it is the only bar (I think) in Hell.  Not in Pinckney, but in HELL.  

It is the only bar in Hell.

Yeah, you could own a bar near Hell, but it wouldn't be the same as being in Hell.  Sort of like anyone can own a replica (I've goit a freezer full of them) of the iceberg that sunk the Titanic, but to actually own the real iceberg that did the trick would make you an exclusive club of one.  Think of the bragging rights!