Anyone here live in Maine, or know about it?

[NySportsfan]

Kind of an odd, and random question, but a friend of mine has a vacation place there, and we have been discussing doing some real estate investing in a bar in a few towns there, especially ones near the harbor, not in the middle of the state so I can drive to friend's in mass. Wanted to know if anyone had knowledge about, or can point me to someone who knows
a) the approx. cost of real estate there
b) the time the bars close
c) general landscape of everything

Thanks to anyone who can help, thought I'd throw it out there

Mike

 

[acehistr8]

I would be prepared for anything like that to be a highly, highly cyclical business. A lot of those towns like Camden and Bar Harbor have a lot of restaurants and bars that shut their doors between Labor Day and April 1st or thereabouts.

 

[NySportsfan]

right Ace, I know they are cyclical. But, I thought alcohol is the one staple business, even if it is not a wealthy place, people always like going to the neighboorhood bar and having a few pops, even during the winter time, but yea the summer is the main time, I'd be curious if it is worth staying open in those other times, but people will always drink I have learned, as long as you have affordable prices. but, does the small year-round population justify having something there?

Mike

 

[skulldog]

Mike, now the bar business hey!! :shrug: Very demanding business, tough to get financing becasue of the liability and the insurance costs are sky high. I'm not a negative person, but unless one of you have extensive experience in this type of business, I'd wouldn't do it. The cons outweigh the pros.

But is you must call a local RE broker for listings, then the town hall to find closing times, license transfer requirements and the police dept to see what kind of problems a particular establishment has had.

Gl

 

[NySportsfan]

skulldog,LOL. The gambling "pipe dream" is over, I woke up and realized it just is not feasible. I know there are lots of liabilites and issues with bars, but my friend has a vacation house in Maine and knows the areas. He has an uncle that owns a place with a bar, so that's someone to ask, and a few other people. We all know the bar service aspect, and the service part, but lot of the insurance and building permits etc would need guidance. Makes sense what you're saying though, but even in not wealthy areas, there are needs for neighborhood bars, and the costs are nowhere near as high there as in major metro. cities. real estate brokers have access to commercial and business vacancies I assume? does one need to have all that mney upfront, or can you take out some kind of mortgage on a vacant lot you build on, or buying space where a previous place existed. Thanks

Mike

 

[Hotduck]

I lived in Brunswick from 1976-80. Back then they didnt have just bars. They either had to be in a restarant or a hotel. Have things changed?

 

[THE KOD]

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[THE KOD]

 

[THE KOD]

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[THE KOD]

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[NySportsfan]

hotduck,
my friend goes there every summer and seems to think bars are allowed, but I have to check that. Plus, kittery is right near a naval base, and we know navy guys like to drink, so I thought it'd be an ideal spot, of course it takes tremendous capital and work to start one, but hell, people have done it before and repeaed the benefits if they worked hard, just thought I'd look into it, even in down turns in the economy, people will still go out for a beer that is the truth

Mike

 

[S-Love]

Kittery's Portsmouth Naval Shipyard is mostly civilian contractors- not what your idea of what a navy base is. It is a retail outlet mecca- most people go across to Portsmouth NH for their restaurants and bars. Which is where you should be looking- Portland ME, Seacoast NH, Newburyport MA area- won't be cheap though.

 

[NySportsfan]

thanks s-love. trying to find a place that isn't unreasonable as far as cost, what about opening a neighborhood local kind of bar, and also getting the influx of the summer tourists? the problem is those places have like 7,000 residents, but bars usually prosper I feel if they're ran well because people always like to drink, but any other help you can give me I greatly appreciate, I just think portland,me may be to pricey, but we'll see, trying to find a place that's kind of "under the radar" but I know it's tough

Mike

 

[Hotduck]

I was stationed at Brunswick Naval Air Base and they didnt have pure bars then. If they do now it would be a great place to own one. When I was there it was a great town. No crime and the people trated you great. Met my wife there.

 

[NySportsfan]

Thanks hotduck. I dont know why they wouldnt' have pure bars, but it all depends on the town. where is brunswick in the state, I wanna be close enough to drive to mass. where my family lives, thats what attracted me to kittery its an hour from the town I go to in mass. Yea, I heard the people are nice, I think it's a great place to own a bar, Do you think there are enough people living there year round, or would the summer basically carry the whole year in terms of revenues? Thanks

Michael

 

[NySportsfan]

I just saw it was a 2 hour drive, perfect location, any other info you can give me is appreciated hotduck, thanks a lot

Michael

 

[shamrock]

Mike, most people don't realize Maine is one of the larger States is the country. It has obviously long coastline that is very seasonal and can be extremely pricey running basically from York & Ogunquit through Kennebunkport where the Bush Family Summers. Up through bar Harbor all the way North to Cadillac Mountain in the National Park where the sun First hits this wonderful country. Most if not all of the Atlantic coastline is pricey and cyclical, although there is obviously year round industry in fishing & Shell Fishing.

Maine also as a incredible amount of Lakes where many people summer and then spend the Fall & Spring hunting & skiing in the winter, actually some of the countries best skiing. With Maine you have to realize, summer is short and winter and the activities it offers are every bit as prosperous as summer probably more. Lots of small college towns through Maine also. Actually I believe Brunswick has Bowdoin College nearby.

My cousin went to Plymouth State College in Plymouth New Hampshire. Started bouncing & bar tending at local watering hole/restaurant after 2 years he wound up quitting school and buying the place from the owner who spends most his time in Bahamas. My cousin makes pretty decent living there and never went back to school. Jeremiah Johnson s in Plymouth New Hampshire if your ever around.

Best
shamrock

 

[NySportsfan]

Shamrock,
Thank you much. I know there is a lot of winter sports and such, and me and a friend think we can raise the capital, and with a solid business plan, we just need need the right location. Your friend is right up my alley, I quit school a few years ago because I absolutely hated it and Ive been bouncing around jobs, waiitng for my "break" because people somehow value a degree when in fact it doesn't mean a ton IMO. I know I am smart enough to succeed and I always wanted to own my own business. I know the shoreline is expensive, if we end up doing this, I'd love for you to kind of consult me with location and all of that, we can't afford the coastline, but maybe you can reccomend some other areas somewhat within 2 hrs of mass. border that are good. How is kittery? I just want to make sure the business can withstand the winter, but if there are winter activities, it will. Do you know what closing time there is? I am not familiar with the NH/Maine area, my friend goes there summers though so he suggested. I think it is a good location. I'd love to speak to your cousin, of course he was lucky he found a guy to buy from, we'd either need vacant land or buy from someone else, because we are not paying zillions to build and wait years. But, I have some tending experience and have been to bars many times and my friend and I have pretty extensive knowledge and some resources, Thanks for whatever help you can provide

Michael

 

[shamrock]

honestly I'd almost forget about Kittery, its at the very Southeast corner of Maine right against Portsmouth New Hampshire which has a small 15 mile Atlantic coastline. Very rich area with Kennebunk, Ogunquit, Wells, York Maine along with Rye Dover New Hampshire etc. pretty exclusive expensive area . As someone said Kittery is a shopping paradise for all these exclusive folks, every mall outlet store you could possibly imagine. not really the Maine you are thinking of, picture one of those giant jersey mall outlet places right close to the Atlantic Ocean. If you really want to be along the ocean there are opportunities available simply because many of the Beach "hey day" are structurally old. You could find this in Hampton Beach New Hampshire, old orchard Beach Maine etc. the land is incredibly valuable, but lots of places needing rehab very bad due to the fact they were built in 50s, short season though & very expensive real estate.

Like I said, if coastline isn't a necessity, check along (ski 93) area along Interstate 93 New Hampshire, this area is exploding with growth. Lakes fishing hunting hiking camping, skiing snow mobiling, and don't forget leaf watching, incredibly this generates huge tourism. North Conway is already built up, good place for you to visit and observ the growth. Lincoln New Hampshire nice area.

Lakes region of New Hampshire & Maine is huge, as I said with gigantic tourism covering all 4 seasons. If I remember correctly bars stay open relatively late in Maine, most towns are aware that's how they make their money through tourism dollars.

Good luck, I believe sportsaholic is from Maine is you stumbled across him here. Bl itz is from New Hampshire I think.

 

[Blitz]

Check out this link to the"Old Port" section of Portland Maine.

http://portlandme.about.com/cs/entertainment/a/PubsAndClubs.htm