Tuesday, December 16, 2008
Revolving Door: Adirondack Businesses For Sale
As we have written in previous posts, running a profitable business in a seasonal economy such as the Adirondack region, is very difficult. What's the right formula to achieve enduring success? Closing during mud season? Catering to locals and to summer or winter seasonal residents? Doing something unique? The answer seems elusive. Here is a sampling of some of the local Adirondack businesses for sale in the Old Forge area today:
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I wonder if this is the usual churn?
ReplyDeleteSeems like a lot of businesses in a very small area. I'm going to quiz someone from Old Forge about this today.
I think it is more than normal, and the list is only half of what is for sale. Mountain Peddler, a local store, is for sale as is the gift store next door to it. Clark's Marina is or was on the market. And others.
ReplyDeleteAccording the the Central Adirondack Association-guy, lot's of "outsiders" moved into the area and bought local businesses without knowing how to run an Adirondack business. He says many of those businesses are those folks who now are moving back out after marginal success.
ReplyDeleteEh, it's one take on the situation.
You'd think the economy would affect tourism in Old Forge but it was packed all summer. The only businesses closing are those who just don't want to be in the business anymore, they're retiring etc. Several new businesses are happy with their profit margin because it's grown in the last two years. I'm one of them. Caring about your business, paying attention to your customer's needs and THINKING really is what it takes. Simple. Old Forge is a Great Place.
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