Buying Mail Center on St John
My family and I are seriously considering purchasing The Mail Center, in St John. We have seen the books for '05 and '06 everything looks like a potentially great opportunity. This is located in The Marketplace shopping center. Does anyone have any advice, feedback, ideas as to the venture? We know it won't make us millionaires but we think it could afford us frequent visits to a wonderful place and a service that is needed to both visitors and residents. Any feedback advice is welcome.
Thanks in advance.
Did you check how much longer their lease runs? Landlords have been known to really raise the rent in a good location to a level that couldn't make the business viable.
I will tell you one thing. If you decide to buy you will be buying from a straight up guy.
If you do, be very careful about who you hire.
One particular mail service on St. Thomas had part time help opening packages and ripping off the "good stuff" and he was liable to reimburse the intended recipients.
I would guess its one of those businesses that you need to be there all the time to keep an eye on things.
Or bonded employees.
I really think the owner needs to be around all the time for any small business. I would certainly hesitate to be an absentee owner anywhere.
Thanks! I really appreciate all your feedback. I think we agree being present is the best way to go....Although I hear they have a wonderful manager in place (that ALL the curent owners love) and hopefully we can keep her happy too! Please continue with your correspondence. We plan a PMV or atleast a Pre-Buy visit 🙂 between 8/25 and 9/8 when the current owners will be there.... I appreciate you honest replies.
Just to let you know as of yesterday it is "under contract"
We know, we were outbid on Tues.