I am getting the numbers
Anyone Want to Buy a B&M in Las Vegas?
- Thread starter CWS
- Start date
Chuck, let me know when you get the numbers. I just bought a house here in CO, but I would seriously consider putting some money into this. It's my dream to work at a B&M, and a B&M in Vegas (if only investing at first) might be the coolest thing I have ever heard.
TYLER
TYLER
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Hmmmmm. That would give me another reason to go to Vegas. I like that idea
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- Jan 11, 2005
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You know what would also be cool? We do this like a time share. Somebody agrees to actually run the shop, and the rest of us all rotate working there. Keeps labor costs down, and what a cool "vacation" working at your own cigar shop, in Vegas, no less.
Get 5-10 guys to throw in, one will run it, and the traveling idea sounds like it could work, but i dont know how much you could depend on that...
I am very interested to see what the numbers look like..
I can only fathom
I am very interested to see what the numbers look like..
I can only fathom
cool yea, but a smart financial decision it is not...
would you even be able to sell Fuente cigars because of their shop already down there.. how ridiculous must the prices be in order to cover your ass on bills, labor is not what i would be worried about in this situation, it would be the mother f-ing rent that would have to be paid..
would you even be able to sell Fuente cigars because of their shop already down there.. how ridiculous must the prices be in order to cover your ass on bills, labor is not what i would be worried about in this situation, it would be the mother f-ing rent that would have to be paid..
Charles,
We are asking $400k for the Store that includes fixtures, inventory(minimal), and trademark for Havana Republic. It has an appraised value of $800k with the current RE broker. We have 8 months left on our current lease with a 3 year option to extend, the current rent is $8500.00 including HVAC, CAM and marketing- but it will go higher during the extension term to "market rates" and I don't have that info yet but I assume it will be in the 11k-14k area, of course I will get a hard number if there is a serious interest. Our lease allows a transfer to a qualified entity with 1.5 mil market cap. Another possibility is negotiating a new lease with the landlord that is acceptable to the buyer. As far as the price of the store is concerned it cost over 500k for the original build out and humidifer equipment. Our lease allows for liqour sales as well, however there is currently no plumbing in the store so an additional investment would have to be made if the buyer wants a full liqour bar. I really would like the store to continue as it is and expand with a new owner, the current owner aquired it as an asset from when Havana Republic was a publicly traded company and they deal in Ventue Capital- not in operating a single retail store. I believe it can be on par with the only competition of this type on the strip being Casa Fuente with a bar and the right marketing.
Regards,
David
We are asking $400k for the Store that includes fixtures, inventory(minimal), and trademark for Havana Republic. It has an appraised value of $800k with the current RE broker. We have 8 months left on our current lease with a 3 year option to extend, the current rent is $8500.00 including HVAC, CAM and marketing- but it will go higher during the extension term to "market rates" and I don't have that info yet but I assume it will be in the 11k-14k area, of course I will get a hard number if there is a serious interest. Our lease allows a transfer to a qualified entity with 1.5 mil market cap. Another possibility is negotiating a new lease with the landlord that is acceptable to the buyer. As far as the price of the store is concerned it cost over 500k for the original build out and humidifer equipment. Our lease allows for liqour sales as well, however there is currently no plumbing in the store so an additional investment would have to be made if the buyer wants a full liqour bar. I really would like the store to continue as it is and expand with a new owner, the current owner aquired it as an asset from when Havana Republic was a publicly traded company and they deal in Ventue Capital- not in operating a single retail store. I believe it can be on par with the only competition of this type on the strip being Casa Fuente with a bar and the right marketing.
Regards,
David
My $20 offer is still on the table. Really, I could not commit at this time with the other financial commitments taking away too much cash-flow. Could be a nice deal for someone with deep pockets and less risk if something like this were to be tried and then failed. For me that would not work.