Bear Trail Lodge Closure

[2746]

Originally Posted by Golden Eagle

Anytime we need to make excuses for a potential purchase we need to run away from the deal. Run very fast!

don't know a thing about this camp but do know about business investments. (spent 40 years as a banker lending on business purchases and, unfortunately, taking a few back.) Goldon is right......if the business is not shouting to you that it's a money maker and instead your being drawn to it by your heart........ run! We all think we can do something to "turn a business around" but that's extremely difficult and better left to the proffessionals. On the other hand, if you have the cash and just want something to keep you busy with no profit motives in mind then maybe the camp would be a good hobby.

[MrSimon]

Originally Posted by larrym

....if the business is not shouting to you that it's a money maker and instead your being drawn to it by your heart........ run!

You are probably right.

But, how many people lay on their death bed and say "I wish I would have made more money in life"

Money isn't everything. Yes, its important and you have to provide for your family .... but its not always wrong to follow your heart instead of your bank account.

[SinOrSwim]

Always different options to look at. But, say the place needed updating with the cabins. Probably a pretty good time to do it rather than buying cabins that have everything in them but need a complete remodel. Sounds like many of these have been stripped bare? Now, buying and then getting rid of all the old appliances and fixtures is done. You can build it out how you want. All depends on the price you are paying for it. Just make sure you ahve a good business plan and know all the costs etc.

Everyone keeps talking about how nobody is making any money, down economy etc. SOMEONE must be making money or they wouldn't be in business? I don't know many businesses that can operate for years losing money?

I could never do something like that because I'm not handy enough. Those camp owners are mechanics, plumbers, carpenters, you name it. Jack of all trades.

[DD73]

Originally Posted by MrSimon

YBut, how many people lay on their death bed and say "I wish I would have made more money in life"

Of course, taking on a canadian resort unless you're 100% prepared for it just means you're going to lay on your death bed a whole lot sooner.

No way would I ever think about it. If you've got 3 kids relying on you, you need to do what's best for them. Period. When they're out of the picture, and you want to work like a slave for no money, then you can consider it.

[Fisherman Ted]

There was a good thread on here maybe 8-10 months ago about the same subject. Excellent thoughts by many regarding jumping into the business, including me a recent owner.

I would be happy to talk to you regarding my experiences as I just went though this process and its pretty fresh.

Whatever you do don't jump into it blind. Do your homework.

Fisherman Ted

[MrSimon]

Originally Posted by Fisherman Ted

There was a good thread on here maybe 8-10 months ago about the same subject. Excellent thoughts by many regarding jumping into the business, including me a recent owner.

I would be happy to talk to you regarding my experiences as I just went though this process and its pretty fresh.

Whatever you do don't jump into it blind. Do your homework.

Fisherman Ted

Don't listen to this!!!!

Buy the camp .... work your butt off and go into big time debt to make it awesome .... open it up in 2014 at ridiculously low prices ..... and give everyone on WalleyeCentral a 25% off coupon.

If you do that, I'll totally bring you a case of beer when I come to go fishing.

All kidding aside .... we all have different priorities and life goals. Only you can know if something like this is right for you and your family.