8824 replies to this topic

[HB]

WTF?

Nothing about that makes sense.

Many women who work in places are 5'2" and if we took your logic as reality they would need to wear shoes with 7" heals to reach the table to place food?????  or woman 5'4"" ...5" heals

Nice try

Edited by HB, 07 April 2017 - 01:11 PM.

[VicHockeyFan]

The space is not for sale the business is for sale whomever purchases the business will have to pay a lease for the space or move the business somewhere else...and the business name is not included just the equipment and the food cart...huge difference

 

The space lease and the equipment is for sale, same thing.  Everyone knows you can not buy a piece of Market Square.     

[HB]

MATT R

Can you clarify this

Does an asset sale of a food business force the buyer to take over the lease or sign a new lease at the location or is it a sale of equipment only

[jonny]

You can either buy the assets or buy the corporate share(s).

[Mike K.]

The lease is transferred over to the buyer, but if the buyer fails to pay, the seller is still responsible for the lease payments unless the landlord has authorized for the seller to be fully removed from the lease, which is rare (why would a landlord do that, they like the added protection).

 

The buyer is also (typically) allowed to exercise whatever renewal options have been made available to the seller by the landlord, say for another 5-year renewal, or two 5-year renewals, etc. 

[VicHockeyFan]

MATT R

Can you clarify this

Does an asset sale of a food business force the buyer to take over the lease or sign a new lease at the location or is it a sale of equipment only

 

I never said you had to take over the lease.  But for $150k, that's the most valuable part of the sale, a high-traffic space at $1300/mo.  I can go buy equipment for another space cheaper.

[Mike K.]

Is it high traffic? I'm not so sure that it is.

 

Market Square has never looked as bleak as it does today with the majority of the bottom floor vacant and many businesses that once thrived within it having left long ago.

 

I walked through yesterday and it was a ghost town.

[HB]

So there you have the sale is not for the space only the equipment

[HB]

No you didn't you said the space is for sale and I said it's not as per the listing. ..I wouldn't want that 300sq ft closet it's a horrible location in a dead shopping square

[VicHockeyFan]

No you didn't you said the space is for sale and I said it's not as per the listing. ..I wouldn't want that 300sq ft closet it's a horrible location in a dead shopping square

 

The space is for sale.  $150k, includes equipment.  You still need to pay the rent if you use the space.

[HB]

  I can go buy equipment for another space cheaper.

Really? Do you have any idea how much a food cart is actually worth ?

Ill let you know they are not cheap.

That waffle cart is way bigger and more deluxe than a BBQ on a stainless box with wheels

 

If i were to buy that waffle business it I sure wouldnt be investing that kind of money to rent a closet in a dead zone ...I would pay more rent for a closet in a lucrative spot say over at the new 1515 Douglas Location were there is 1000% or so more foot traffic and 2 new office buildings adn a city hall full of hungry civil servants each day

[thundergun]

You can either buy the assets or buy the corporate share(s).

 

True, but technically the name could be sold as an asset and used under a new company without acquiring shares. Perhaps the original company wants to keep the wannawafel name.

[Matt R.]

I'm sure they do for franchise purposes. The name might be for sale as well, as a franchise, but isn't included in that price. Equipment might be $50k, tops. Seeing as how it's all used equip, $30 tops. It's not a cart, but there's not much there either. Mixer, dishwasher maybe, a waffle maker, random smallwares, POS system, few tables and chairs.

You would negotiate with the landlord to assume the lease or they could agree to end it and you would negotiate a new one. There are a few options for sure.

Matt.

[jonny]

True, but technically the name could be sold as an asset and used under a new company without acquiring shares. Perhaps the original company wants to keep the wannawafel name.

 

Technically the name is a trademark which is an asset which, yes, could be sold.

[Mike K.]

Wouldn't they be selling a franchise if they were to entertain a sale of the name?

[jonny]

They explicitly state they are selling the assets.

 

 

Well established & buzzing Belgian Waffle business for sale in downtown Victoria BC. Easy operation and fantastic location with affordable rent of $1,300/month. It's an asset sale(The business name is not included)....Store, Equipment, and a cart. Don't approach the staff or owners.

[Redd42]

You would negotiate with the landlord to assume the lease or they could agree to end it and you would negotiate a new one. There are a few options for sure.

Matt.

 

There is also the possibility the current lease has no renewal options (ours doesn't) or the landlord doesn't agree to the new owner to take over the lease. 

[UDeMan]

this place should open as a medicinal marijuana waffle restaurant

 

normally you would get marijuana, then have the munchies, then get the waffles.

 

this would avoid that middle step, one stop shopping

[VicHockeyFan]

Xiang Rui/Yokohama Restaurant is for sale, 980 Blanshard.  $195,000.

 

https://www.realtor....Columbia-V8W2H3

[sdwright.vic]

This place sucks... don't buy the business unless you plan on changing it completely.