Thi-Thi For Sale

[suntan]

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Sounds like a hole-in-the-wall place that caters to high school students. I'm on 17th ave pretty often, but the strip mall by a school isn't on my normal route.

I thought it was because of the restraining order.

[ExtraSlow]

It can be both.

[Xtrema]

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Looks like new owners. Wonder what it sold for.

https://www.instagram.com/p/C2sVcNBJ...cwamN3NnM0eg==

Topic came up during dinner. Realtor friend say revised ask was $600K, sold for $340K.

[dj_rice]

#2 My Tho sub

[Buster]

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Topic came up during dinner. Realtor friend say revised ask was $600K, sold for $340K.

How much money did it make

[ExtraSlow]

Valuing a business like that is not easy.

What would that space be worth if it was vacant?

[killramos]

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Valuing a business like that is not easy.

That’s why the data point is valuable

[ExtraSlow]

Where my "valuing a small business" thread? That was great where people argued about what goodwill meant and what multiple of cash flow was reasonable.

Ahh good times.

[Buster]

People in these situations often don't even know how to calculate cash flow.

They will say that a business makes 100k, but then not allocate any costs to their own time. If your business "makes" 100k, but you would have to spend 100k to hire someone to run it... Then your business makes zero.

My guess is this is exactly what happened here with the original elevated ask.

[msommers]

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Valuing a business like that is not easy.

What would that space be worth if it was vacant?

Wasn't the rent for that space relatively cheap? Like $1,500/month?

[max_boost]

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People in these situations often don't even know how to calculate cash flow.

They will say that a business makes 100k, but then not allocate any costs to their own time. If your business "makes" 100k, but you would have to spend 100k to hire someone to run it... Then your business makes zero.

My guess is this is exactly what happened here with the original elevated ask.

You can’t sell potential
Small biz are a total grind
Good luck to the new owners
Congrats to the elders on retirement
Good luck to binh on his continuous/new ventures
It’s tough to let go something in the family you been doing for so long.
I’m probably gonna be in a similar situation in the next 5-10 years

[dj_rice]

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Yes kk fine
Use to eat there a lot $2 for a sub, buy 5 and get 1 free circa 1996/97 Ernest morrow, flhs represent lol

Was there 2 weekends ago, all the subs are $8-9 now no more buy 5 get 1 free. But still better than what Edmonton has. Going to give My Tho a visit as they're prices are still good.

[Xtrema]

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How much money did it make

That is between old and new owners. As we all thought sold price is kinda low, I assume wfh has not been good to the biz. And banh MI places are not that hard to start, I think there's another new one on 3rd Ave west of Centre St and it also does desserts.

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Wasn't the rent for that space relatively cheap? Like $1,500/month?

$2k and each parking spot is $150.

[ExtraSlow]

Thats a lot of goodwill.

[ThePenIsMightier]

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Thats a lot of goodwill.

An intangible amount?

[ExtraSlow]

No.

[killramos]

Anyone been since the sale? Still worth the hike over there now that weather is getting better?

[g-m]

And are they open Mondays now?

[BokCh0y]

was the same when i went there jsut prior to the sale, but have not since it's bene sold, so looking for feedback as well.

[Disoblige]

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Anyone been since the sale? Still worth the hike over there now that weather is getting better?

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was the same when i went there jsut prior to the sale, but have not since it's bene sold, so looking for feedback as well.

Go try and report back for Beyond.

One whitey and one asian opinion.