In my last newsletter I reported that 2011 will be remembered as the year real estate investment and tourism came back to life in Crested Butte. Year to date, 199 properties have sold in the Upper East River Valley. We are on track to break $100 million in sales from Crested Butte South to Mt. Crested Butte. This is a threshold we haven’t reached in over 3 years.
The Town of Crested Butte reports an overall 7.5% increase in sales, lodging and restaurant tax revenues, reaching the best revenue totals we’ve seen since 2008! View 2011 sales tax breakdown (PDF). Up in Mt. Crested Butte the news is just as good. This past July, the town of Mt. Crested Butte collected $136K in revenues on more than $2.7 million in taxable sales, which is the biggest collection for the month of July in the history of Mt. Crested Butte and 34 percent above an 11-year average. View recent Crested Butte News article.
With the improvement in our local resort economy and the stunning growth of our summertime tourism business, interest levels in Crested Butte business for sale opportunities are starting to grow as well. Of course, in a resort economy like Crested Butte’s, restaurant, bars, retail and lodging businesses make up the majority of the current opportunities. But, there are other business opportunities available too including the local TV station!
Here are some of the most interesting (and profitable) business ventures that are available for sale in Crested Butte today:
Djangos Restaurant and Wine Bar – $389,000 (more info)
django’s restaurant & wine bar artfully combines a superior location, an inviting atmosphere and a unique dining concept to make it the #1 restaurant in Colorado as rated by guests on TripAdvisor. django’s menu and their extensive wine list are inspired by the cuisines of Southern Europe. This popular Crested Butte business is established and profitable which makes it a perfect time to consider a purchase. django’s is located at the base of Crested Butte Mountain Resort’s ski area base in the heart of the courtyard at the Lodge at Mountaineer Square. The main ski resort shuttle bus stop is literally steps away from the front door of the restaurant, dropping visitors, skiers, locals and 2nd homeowners off every 15 minutes. The resort’s main ticket office and retail shops are all located nearby and it’s a quick walk to the ski slopes in the winter. Purchase price includes extensive leasehold improvements, all fixtures, all furnishings, the equipment, the current inventory, intellectual property and menu secrets, social media accounts, a top ranked website, Open Table reservation and customer relationship management system, business handover consulting and new owner training. Existing lease is assignable and competitively priced with good terms. Restaurant seating accommodates 50 patrons with additional patio seating for up to 50 patrons.
LoBar Restaurant and Lounge – $249,000 (more info)
This is a very special opportunity to acquire a highly profitable restaurant and lounge venture in a very cool place to live and work. The LoBar is located in the heart of the commercial district in downtown Crested Butte at 303 Elk Avenue. The restaurant’s menu is eclectic and includes many popular sushi and Japanese influenced dishes. The LoBar transforms itself nightly into Crested Butte’s social hot spot, featuring great lounge and bar seating and private dining areas.
The business is ideally suited for it’s market, enjoying a loyal installed base of local customers as well as a prominent, national reputation as the place to patronize when in Crested Butte. The financial results reflect a business in command of its market. Purchase price includes extensive leasehold improvements plus all of the fixtures, furnishings and equipment. Also included is seller training and consulting, marketing collateral, brand, menus and trade secrets. Business summary and financials provided upon request and execution of a NDA.
Crested Butte Television Station Channel 10 – $825,000 (more info)
Incredible opportunity to own, operate and reap the benefits of the only Crested Butte television station – CBTV Channel 10. CBTV Channel 10 is for sale after many years of successful operations. The business was started in 1996. Originally an affiliate of the Resort Sports Network (RSN), CBTV10 is now part of the Outside Television network. In addition to 24/7 Gunnison Valley television broadcasting, CB TV earns income from local, regional and national advertising, video production, editing suites, corporate promotional services and stock footage. Sale includes 3, FCC, Digital LPTV broadcast licenses, all equipment, proprietary technology, software, customer lists, training, trade secrets and business handover consulting. Complete financials available including description of FCC DLPTV licenses and technology.
LeBosquet Restaurant and Why Cook? Deli – $399,000 (more info)
This opportunity is a rare find for the serious restaurateur or business person looking to capitalize on the growing Colorado ski and summer resort market Crested Butte, Colorado. The owner’s are retiring after a 30+ years in Crested Butte. Imagine owning an award-winning restaurant and upscale bar in an intimate and contemporary mountain setting with a professionally designed kitchen. Additionally, this offering includes a separate gourmet catering and take-out deli business immediately adjacent to the restaurant. This business shares the same kitchen and storage infrastructure. Located in a busy shopping and services district – The Majestic Plaza – of Crested Butte. Crested Butte Center for the Arts is across the street, the Majestic Theatre, The Daily, Clarks Market and ski resort shuttle stop are closeby. Large PUD parking lot, ADA accessible and bonus 700 sq. ft exclusive use patio for outdoor seating included.
For additional insight and a look at other business for sale opportunities in Crested Butte Colorado, contact Channing Boucher at Benson Sotheby’s International Realty. 970-596-3228