Working in Florida

[captdz]

Hello everyone,
I live near Chicago but am planning on opening a shop about 50 miles north of here. In the meantime an oppurtunity has presented itself for a business in Florida. It's a canvas shop long established with what looks like very steady and consistant work. A couple of employees and again very steady work and history. It's not close to anyone here that I can tell and I was down there last week and only saw one other shop. I think the business will continue to do fine and the price seems right. I'm going to be 53 next week and looking to settle somewhere but not sure about this cold anymore. Everyone warns me of the oppressive heat down there but I love the water and I already own a center console.
Just curious about some other opinions.

Dan

[JuneC]

Hi Dan,
We've had the "what should I sell my upholstery business for" issue come up in the past.  Same logic goes into selling a business.  In this case you're the buyer, but you might look through the "Business of Upholstery" for the discussion.  I personally wouldn't pay anything for a business beyond the actual value of tools and materials because the owner's skill is what made the business successful.  In your case, this is probably somewhat buffered by the fact that there are competent employees who, if they stay, will continue to produce the quality that the shop is noted for. 

Unless you have lots of employees, you'll most likely have to produce yourself.  And yes, the heat can be brutal.  It's pretty bad on the east coast, worse on the west coast (Don't know how you do it, Mike and Mojo  ???)  Many summer days you can expect to only produce maybe 2/3 of what you'd do in the winter in spite of the longer daylight.  You can't pattern anything in mid-day, nor install.  The stainless gets so hot you literally can't touch it.  I've gotten burned just getting on and off a boat.  Putting up plastic for an enclosure pattern will raise the temp inside into the 120's in no time. 

Having said that, I love it here and would never live/work someplace where the boating season was less than 12 months.  Your biggest problem will be having to leave that center console on the trailer and work ;D

June

[Mojo]

I have been involved ( as a consultant ) in the sale of several businesses.

Established businesses with real state, inventory, an awesome location and a great reputation are worth buying.

An upholstery shop is one that is not worth buying. It is much cheaper to start your own and with the money you would have paid for an established business use that to grow your own.

June is correct in what she says.

Just saying. :)

Chris

[Mike8560]

Dan are you in buisness now and kust planning on moving ? i wouldnt go 50 milrds north. i came from NH to florida i came from the lakes region on the largest lake about 20 miles end to end and only a few canvas shops. when i came to florida there were many shop in the same area there seems to be enough for all. if i saw as mant shop up north in the same spot id have been woried. id never want to go back the winter is your buy season (Odd huh?)
and the summers have always been a steady flow . slower yes but it is gotter so it ok. and as far as the heat. in might hit 90 between 1- and 2 is the worst time of the day. try not to have allot outside to do then . on the west coast its pretty calm wind wise in the summer sop i dont have any trouble patterning.
if it gews too hot quit for the da and take your boat out. you didnt mention the are that you are lookng at that would help us help you.  oh and the housing prices are awsome. I moved down here 7 years ago and after selling my lake home i couldnt afford waterfront here not the prices have flip floped and i just sold last july and bought a canal lot 10 mins to open water. there tons of homes on canals under 200k even 100k. on the west coast. and the gulf get lake calm in the summer

[Mike8560]

I'm going to be 53 next week and looking to settle somewhere but not sure about this cold anymore. Everyone warns me of the oppressive heat down there but I love the water and I already own a center console.
.

Dan

I say move if you can and dont worry about the heat youl get used to it
i put a sweatshiret on now when it gets down to the 60s heck your  your a coupl eyears older them me i woldnt  stay  in the snow  chicago must be worse then NH

[captdz]

Thanks for the responses. I do like the Gulfside and this would be North of you Mike towards Tampa. I agree its not always worth buying a canvas business. The price does seem right and for instant work it seems worth it. I am opening the same here April 1st if I don't buy the one in Fl. 12 months established VS maybe 8 from scratch. Nothing to keep me here but it is home. I do like the idea of having a couple of expierenced employees. I'm good with covers but have only done one enclosure on a pontoon boat. It came out really nice and the owner was real happy. Not a lot of time to make this decision..........

Dan

[Mike8560]

Inhad one more thought Dan.
You don't sound from what you said that younhave alot of expierenve so have two employee who do I asunder might be good for you

[captdz]

That's why I think the deal is a little safer for me. What I don't know the one full time employee there will know and is doing most of the work now. 2 other employees are part time. Owner does not do much if any sewing.

[MinUph]

captdz
  Why don't you come down for a week, work with them and see how it goes. If nothing else you can enjoy our weather. You should get an idea about the real business.

[Mike8560]

Dan I did t understand what you meant.

Sorry for the typing I'm using my iPhone little keys. 

[S..szenay]

Dan, I did Marine Canvas in  Michigan for 25 years. Six hours North of you, I moved to Florida to do the same thing in 2004 and never looked back. Summer is Hot, but you do adjust like Mike said. The Summer in Florida is like the Winter in Chicago you would not go outside in a T shirt and shorts you dress for the weather. And when it gets to 60 degrees yes I am cold also. But you have work 12 months of the Year................ What is the name of the shop and what city is it in? I work as a Sales Rep. for Ferrari Textiles now we manufacture Stamoid Marine Fabric I cover the State of Florida, maybe I can give you some insight as to what is happening in that area. Send it private message, and good luck with what ever you decide to do. Steve

[captdz]

Steve,

I looked at the numbers really careful and it seems like a good deal for the price. Again it's that "for the price". If it was much more I agree it would make more sense to start from scratch. I was or am going to do that here next week. I still have a couple of days to think about it before I sign my lease up North. I really am so sick of this weather....snowed the other day!

[captdz]

Steve,

Thank you very much for the call and the info. It was most helpful!!

Dan