No. of Recommendations: 1
<<I actually went and toured it as a potential buyer, just for grins. It's on 5 acres of land, and it's the perfect location to appeal to the upscale people who would use a fancy kennel. (I always thought that the main reason they weren't busier as a straight kennel is that no one knew about it; I referred several people to it, and everyone was like, "Wow, I passed that place all the time and thought they just bred airedales." The owner did used to breed and show airedales, and there is an airedale on the sign).

I'd think of this as 3/4 real estate deal and 1/4 business.

What are the prosepects for the value of the property increasing in the future? Could you expect to turn the land into a housing development in ten or twenty years?

How is the property financed now --- is there a mortgage on it you could assume, or could you get a mortgage on the value of the property?

Just a guess, but the value of the current business, aside from the real estate, sounds pretty close to zero. I'd begin by figuring you would offer them the appraised value of the property and nothing for the business. Any amount for the business would have to be justified based on the profits including fair market wages and taxes for ALL labor, including the management level wages the owners should be earning.

As an aside, I look after my brother's dog when they go traveling. They drive down to my place in their car with the dog, pick me up (I have fresh cinnamon rolls for them to eat) and we drive out to SEA TAC airport five miles from my place. I drop them off, drive their car back to my place and park it and care for the dog.

When they return, the dog, more cinnamon rolls (right out of the oven) and I drive out to the airport as soon as they call me when they get off the plane.

By the time they get out to the departure area, I'm there with the cinnamon rolls, their dog and car. They drop me off and head home.

I've often wondered what the wealthy might pay for that kind of comprehensive service. Taking care of pets, cars and transportation to and from the airport are a big hassle when traveling. What would it be worth to make that a simple and seamless process?

Seattle Pioneer
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