About Me

Friday, July 9, 2010

Sno-Biz

What did you do today?  I bought a Sno-Biz, Hawaiian Shave Ice!  Well, technically, Doug and I did. :-)  Cool, huh?

About a month ago, we drove past the Sno-Biz and lamented the fact that it has not opened this year.  Paige noticed the "for sale" sign and, on a whim and out of mild curiosity, I called the broker.  It was a reasonable price, I thought (not knowing how much a business really costs, to be honest).  I called Doug and expected him to shoot down the idea of buying it immediately.  When he didn't, I started to think seriously about it. 

I met with the broker and got some basic information and then Doug and I met with the broker and seller for more detailed information and a tour.  We were impressed with the simplicity of the operation and talked about it but decided the initial investment was just too much for us to take on right now. 

About a week later, the broker called and offered us the option of purchasing it for a very minimal investment with the seller financing about 3/4ths of the sale price at a great rate and with unbelievable conditions.  I called my dad and asked for a loan for the rest.  He responded with an even better rate than I expected and offered to send a check right away.  It is in the mail as we speak.  We should close on Wednesday, barring any major events.  As you might imagine, time is of the essence in a seasonal operation as this is, so we are moving quickly.

I have completed a host of applications and filed a silly number of forms in a span of two days.  We are now officially Dolbi, LLC dba Sno-Biz and are well on our way to being legal to hire employees and collect sales tax.  I have an appointment with an accountant tomorrow to make sure all ducks are firmly in a row, but so far there have been no real glitches.

We will both keep our full-time jobs and just hope to break even for the next few seasons, but then maybe be able to put money away for retirement and college and cars and vacations and...

So, that's my very unexpected and rather spontaneous news. :-)

2 comments:

Laurel said...

That's exciting, Kolbi!

Kolbi said...

Thanks! We are getting more excited and less nervous all the time!