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jmen24 · 04-08-2014, 09:37 AM

I believe we are only a few years out from the Weirs finding the bottom of the hole, but it won't be a pretty ride to the bottom.

The reason I say that is, Bike Week continues to move further away from Laconia every year; Hill climbs, chapter rides, large crowd gathering events. They are all happening North and West of the Lakes Region. Those are some of the events listed on the Official Bike Week events page.

One thing that most people don't understand is exactly how profitable that empty lot is for Bike Week. I am certain the current owners will not chime in on this, but here is an example.

When the original owners of the Lobster Pound sold to the current owners, they sold the assets, the name and the land, but they did not sell the rights to that parking lot during Bike Week. The reason, that 10 day period generated an income for the owners approaching 7 figures, in that large lot with a very small building (in case anyone ever wondered why Lou and Harvey never fixed up the old LP). The current owners of the LP realized quite quickly that they misunderstood the "real" value of that property and bought out the rights to Bike Week for the following year. It took them a few years to figure out that they needed to supply their vendors with constant water and other necessary items, but they have the routine down now. The only difference is the building eats up more income than it likely replaces, but they were smart to build the LP into what it is today. They will be in the position to capitalize when a turn around of that area comes.

Why this story matters.

Bike Week continues to move away from the run down Weirs, so does that vendor income for the lot renters. Income continues to drop, so the price of rental space goes up to compensate. The State loves this as it spreads the tourist spending into other areas of our beautiful state and it does not put all the focus on the "Bike Week" atmosphere.

If looking at the Weirs as a business, it is only a matter of years before it will fold. The owners (read: Laconia and the lot owners) are in money grab mode, this is going to result in a developers dream, as they buy up one foreclosed property after another.

The players are just waiting for the other shoe to drop, that is how Meredith became what it is today.

04-08-2014, 09:37 AM	#50
jmen24 Senior Member Join Date: Feb 2009 Posts: 1,139 Thanks: 223 Thanked 319 Times in 181 Posts	I believe we are only a few years out from the Weirs finding the bottom of the hole, but it won't be a pretty ride to the bottom. The reason I say that is, Bike Week continues to move further away from Laconia every year; Hill climbs, chapter rides, large crowd gathering events. They are all happening North and West of the Lakes Region. Those are some of the events listed on the Official Bike Week events page. One thing that most people don't understand is exactly how profitable that empty lot is for Bike Week. I am certain the current owners will not chime in on this, but here is an example. When the original owners of the Lobster Pound sold to the current owners, they sold the assets, the name and the land, but they did not sell the rights to that parking lot during Bike Week. The reason, that 10 day period generated an income for the owners approaching 7 figures, in that large lot with a very small building (in case anyone ever wondered why Lou and Harvey never fixed up the old LP). The current owners of the LP realized quite quickly that they misunderstood the "real" value of that property and bought out the rights to Bike Week for the following year. It took them a few years to figure out that they needed to supply their vendors with constant water and other necessary items, but they have the routine down now. The only difference is the building eats up more income than it likely replaces, but they were smart to build the LP into what it is today. They will be in the position to capitalize when a turn around of that area comes. Why this story matters. Bike Week continues to move away from the run down Weirs, so does that vendor income for the lot renters. Income continues to drop, so the price of rental space goes up to compensate. The State loves this as it spreads the tourist spending into other areas of our beautiful state and it does not put all the focus on the "Bike Week" atmosphere. If looking at the Weirs as a business, it is only a matter of years before it will fold. The owners (read: Laconia and the lot owners) are in money grab mode, this is going to result in a developers dream, as they buy up one foreclosed property after another. The players are just waiting for the other shoe to drop, that is how Meredith became what it is today.