Music to our ears, “Custom European refrigerator, custom Italian freezer, high end cupcakes, cheesecakes, and other fine baked goods”. We were sold with the custom fridge and freezer, but throwing in cupcakes and other fine baked goods has put us over the top. Now we just need the time to be there everyday.
Belgano Chocalatier, and all the sweets and espresso you could desire could be yours for a mere $130,000. Location is pretty damn “sweet” too…on 24th Street in Noe Valley.
–Belgano Chocolatier [MLS]
this corner spot has been soooo many different things over the years (olive oil store, flower shop, clothing store and more), and it seems very challenging to keep a business going in this space as i’ve yet to see a business stay alive for more than 2 years in that location. can somebody help me out here, for the $130,000 that the place costs, is that JUST to buy the business and then continue paying the lease? in other words, is the buyer purchasing the equipment, the name and the right to lease the space or are they also buying the space?
The problem with this space is not so much the location. It’s a great corner location on 24th st. in the heart of Noe.
It’s the “product”…time after time the retail space has hosted overpriced, rather indulgent stuff…people are smart. at some point they wont keep buying useless junk.
paying $6 for a chocolate bar is the problem.
duggo,
i totally agree with you in terms of the product and the price for the product. the problem is however (if i remember correctly from when i called the owner before it was a gelato shop) is the rent. it’s astronomical! the space is TINY and any business that is working out of that tiny spot is going to have to have a high profit margin to cover fixed and variable costs, that’s why i was curious as to what the $130K buys. Does the buyer own the space? i’m under the impression, they do not.
No, the owner does not buy the space, just the business inside. The space itself would be worth several times $130,000.
ok, so to make an educated decision, one has to keep in mind, the space rents for $4k a month…
Former uses were also coffee shop, high-end cookware, and deli/pizza by the slice. The smoothie store incarnation seemed to always have business, I was surprised to see that one go under. I don’t think it was particularly overpriced.
Now, the “olive oil store”, that was a bit of a reach.
They might get six bucks for a candybar if they were at the GoogleStop part of 24th.
I believe the smoothie store took themselves out of business in a way that implied a rent problem. Possibly MikeyTom redux. I’ve been in the neighborhood over 10 years and everything *except* the smoothie store has been cursed. I always have hopes for that space, but it would come as no surprise if the landlords turned out to be crazy.
This space requires an owner to be in attendance to be profitable. The size of the space can not support enough sales to pay the rent and to pay quality employees. In the cases of Juice-It, Stonehouse Olive Oil and Belgano, the employees have been high school kids who spent more time outside smoking than helping customers. I can’t tell you how many times I decided not to get a gelato because I was turned off by the staff.
Kudos to the owner of Belgano for a great attitude and an eye towards quality of goods and service. Too bad about his staff.
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