Goose Hummock B+T

[NIB]

3.9 for a retail biz where u can buy online all u need.Online services will put an end to most retail establishnents in the future.go ahead u would do better throwin ur money off the back of the grean monster.at least more people would get some.

[fishweewee]

Goose Hummock is situated on some prime real estate in an ideal location.

Guys fishing Orleans and Chatham - go to Goose.

Guys going to Race Point and points in between up Route 6 - very easy to stop by Goose first.

It'll be a sad day if it gets turned into something that is not a tackle shop anymore. Best selection of bombers on the East Coast (Red Top is #2 in that regard IMHO).

Wonder if business will suffer this year due to high gas prices (=fewer tourons to drop cash there).

-WW

[Flaptail]

Ben, the Bait Shack kills the goose in Bomber selection.

[Karl F]

The article I read in last months Cape Business... the vision of the current owner... was kayaks, kayks and more kayaks... eco tours, enviro tours, kayak based estuary tours all green and soft... the gun and ammo DEPT., has been regulated to a basement closet, the upstairs is waaaaaay toooo upscale, and like ya said flap, come in with waders or a fishy aroma... and you get looked at like your evil...
bait, booze, hmmmm .... wendy's is just across the street, theres a dunkys in the Stop and Shop across the street... rip the rugs out.... ....nahhh.
3.9 mill lotta ching.
I think that Willis and Bill Gould would really not like the Goose of today... old Francis Sargent might like it, but I doubt the Gould boys would approve...

[Karl F]

Originally Posted by Flaptail

Ben, the Bait Shack kills the goose in Bomber selection.

:uhhuh: Ed knows how to put the right ones on the shelf there, for sure.

Harry had a killer selection last year over at Nauset Angler too.... he had a bunch of blurple.....

[capesams]

guy's at goose came right out and said we don't want you local's in here nickle an dimen us...we want the tourist that drop 300.00 on a rod and tackle for the weekend their here...buy it or go elsewhere....reel nice.

[Pete_G]

We have a few carpets, but no one will look at you funny if you walk in with mud on your feet or your waders on.

Korkers are even OK as long as you stay on the rugs.

[partsjay]

$ 3.9 Million......that's it?

Don't know how any bait shop could pay for that rent.

[partsjay]

guy's at goose came right out and said we don't want you local's in here nickle an dimen us...we want the tourist that drop 300.00 on a rod and tackle for the weekend their here...buy it or go elsewhere....reel nice.

That's sad.

[Karl F]

B&T is a tough racket, especially if you don't own the RE, high rents (overhead) plus the high cost of utilitys here on the cape, leaves room for little, if any, profit. Blackbeards, Bait Shack, Pamet B&T, Nauset Angler, The Hook-Up, (sorry, I have not checked out the New operation at Nelsons yet) are all places that I would recomend, and I know that some of them are struggling to keep their heads above water....... Macmin Reed....Flap.... ya know, I have only been into Macs once since he passed... somehow not seeing him or Fran Higgins in those dump chairs in the back, I feel like I'm trespassing... I guess Pat's still trying to keep it going, but they have very little overhead, thanks to Mac.
I've felt the cold shoulder at the Goose, local boy, almost been ignored... you cannot succeed in any retail operation, if you do not cater to the locals. My employer has owned the business I work at since '52, (I've been there since '78) same family, and they have always had the policy to cater to the locals... first. Seems to be working fine, growth every year. Not that we make anybody feel unwelcome, but the guy feeding us in January and February, does hold a special place in our hearts

[fishweewee]

Originally Posted by partsjay

$ 3.9 Million......that's it?

Don't know how any bait shop could pay for that rent.

I don't see how anyone could get a reasonable return on investment with that kind of purchase price.

The largest tackle shop in my area (CT) grosses about $2 million annually (that's SALES dollars). Margins are probably thin - let's be generous and assume 25% (adjusting for product mix). After paying for merchandise, you've got $500,000 to pay for overhead like employee salaries, utilities, property taxes, repairs and maintenance, and mortgage.

Let's dissect the mortgage payment here for a second.

For a $3.9 million mortgage, you'd probably have to put 20% down ($780,000).

Let's assume we're financing

$3,120,000

over

30 years (360 months)

at

7% annual interest

Your monthly mortgage payment would be $20,637.06, which would come out to $247,644.66 per year. That's a whopper of a payment.

Getting back to your down and dirty cash flow ... gross profit of $500,000 less $248,000 annual mortgage payments = $250,000 to pay the rest of the bills. I'd hate to see the property tax bill, if assessed values are anywhere near the pro-rated purchase price, it's gonna be steep.

I dunno guys, doesn't sound like a lot of room for error here, especially when you consider how sensitive this business is to the weather, is primarily tourist-driven, and the fact that the season isn't that long.

-WW

[Nebe]

Originally Posted by fishweewee

Your monthly mortgage payment would be $20,637.06, which would come out to $247,644.66 per year. That's a whopper of a payment.

especially in jan through april

[piemma]

yeah, but the real estate is worth that and who ever buys it will not operate it as a tackle store. My bet is that they knock the building down and build a revenue producing entity such as a hotel, resturant, condos, bed and breakfast or some other commercial enterprise that would make more than the 5 or 6% net a tackle store makes.

[vineyardblues]

It's da land it's on water front to great fishing, not sure of the size of the lot? LOCATION LOCATION LOCATION....

Funny about the waders, On the vineyard they have them on at church..lol
Only kidding but just about every other place does not think twice

Was that before Clinton F** It up ? ...lol
VB