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Originally Posted by tis
I am very sad to see the Yum Yum shop go and also wonder why. It could be a few things. It might be that even if they did own the property mortgage free, they had taxes to pay, higher wages and other expenses. I also don't think the products were as good as they used to be. Still good but not quite like they were. I paid $14.60 for a dozen donuts and I think that is quite high. ( The next time I paid 13.60.) I don't think the people working there knew the prices because that was not the first time that happened to me.) Not saying they didn't need to charge it to cover expenses but just saying maybe it was a vicious circle. You need a huge volume to cover expenses. Or maybe they just got tired of doing it. Still it seems if it was lucrative, the family would have kept it. All guesses----
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Quote:
Originally Posted by Acrossamerica
Anything over $600,000 for that location, unless you are in it for a hobby and do not need a profit, is not economical. The only reason why the Yum Yum Shop was able to survive a 14 week season is that they owned the property and presumably had no mortgage.
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Good guesses. My cousin and her husband have had a fishing tackle store in Pennsylvania for many years. They were not getting rich but made a living because they own the building free and clear. Last year her husband died and cousin wants to sell the business but there is no way anyone could afford to buy the building and the business and the inventory and come close to paying for it so she's stuck. Probably have sell or lease the building to some other type business that's more profitable.