Evolution within small business is an amazing process as businesses constantly adjust to cultural, social and technological changes. Thus was the case on a commercial note we recently purchased in a southeastern state. When the seller told me the type of business that was in operation, I was skeptical about the prospect of purchasing the note until I saw the property. It was evident the buyer on the note is committed to this enterprise and part of a track record of 60 years in business.
If I asked you to guess the type of enterprise tied to this note, I promise that although you would be very familiar with both of them (that’s right, there are two separate and distinct businesses that share the same location) it’s unlikely you’d answer correctly so I’ll give you some hints and provide the answer tomorrow.
One of these businesses has always utilized the same location and has been in operation since the 1950’s. The business model, although very simplistic, has no apparent nearby competition nor any on the horizon. Although both businesses share the same location, one operates during the day, the other at night. If you’re over 40, there’s a high probability you’ve frequented one of these businesses recently and the other during your lifetime. I think that should be enough information to get you thinking and I’m sure many of you already know the answer. Have a great day and look for the answer tomorrow.