Well folks, here’s another opportunity to own a business in paradise!
Colombo’s Smoothie Stand, the popular food truck located out on Centerline Road near Ajax Peak, recently listed for sale. The asking price: $235,000. Here are the details straight from its listing:
Colombo’s Smoothies has been an island landmark for 30 years. Offering refreshing tropical drink and more with an awesome view at an incredible location- the intersection of North Shore and Centerline. This turn-key business yields an opportunity of a lifetime; living the dream on an island, owning and operating a food truck in the Caribbean. Colombo’s is the only business located close to the North Shore beaches- there is no competition!! The mobile van is permanently parked as it is grandfathered in! There is 1/2 acre of leased land allowing space for expansion. 5yr lease. Rent is only $1545/month.
I know this must sound tempting to many of you!
Random side note: Did you know that several businesses here on island have sold to readers of News of St. John, including a couple this year! So it’s not out of the realm of a possibility that someone reading this story today may be the new buyer. Could it be you??
Colombo’s is listed with Holiday Homes of St. John. For more information, please email [email protected]
18 thoughts on “Popular St. John Business Lists For Sale”
That’s a lot of money for a food truck! Your first 300 or so smoothies a month would just cover the lease payment nevermind all the other costs to operate including insurance and taxes, seems like you would have to expand to make it work! It is a great spot though and the smoothies were always amazing!!
My thoughts ran along the same lines as Marc’s. That’s a lot of money. I would think any buyer would need to pay cash, I can’t imagine any bank loaning on that much blue sky value. Best of luck to the seller and future owner.
STJ business asking prices endlessly fascinate me.
It makes me want to list this website for sale for like half a million dollars!!! Kidding, of course! 🙂
Can anyone stake me $235k…54b’s STJ Smoothie Shack needs to happen…first, I’d lobby to get that intersection where the back north shore road connects with Centerline turned into a round-about…can’t be having my potential patrons turned into road pizza while trying to procure one my frosty bevs. It’s bad for business and life expectancy.
Next, free rum shots of course and every hour is happy hour featuring STJ flavor profiles like, “Donkey Punch, Mongoose Juice, and Bananaquit daiquiris.”
Add in a young, impressionable, scantily clad wait staff with emotionally unavailable fathers and I will have this shack in the black in six months!
LMAO!! donkey punch!! You are bad!!
Oh wow, the location is of course the real jewel here but with that asking price its going to be hard to do the math to make it work even thinking positively as I can about the future. Best wishes to the new owners and I assure you that you will meet my family! <3
Hi Jenn: since most of us reading are frequent visitors to the island, we all could probably name 10-20 places that over the years have either closed or changed hands. Since you most likely have talked to and know a large number of the owners in the past few years, and if you exclude the hurricane impact on the recent ones, in your opinion, what are the most common reasons for selling/closing a business on island? Scratched the itch now time to move on; I miss the comforts of the states and family; wasn’t all that I dreamt it would be (aka. ‘Don’t Stop the Carnival’ effect), etc. While we all may think we understand the variables that go into a successful business such as location, lease terms, how deep your pockets are, menu/chef if applicable, product/marketing, etc., it could be just poor business planning without much due diligence (which sometimes works!), or even simply bad luck.
Would be an interesting story on why some, as yourself, made the jump and ‘keep on keeping on’ years later, while others come for 1-2 years and then end up leaving. The boys at the Tap Room also seem to have figured it out, so much respect to them as well as some sorrow for the ones that couldn’t. Thanks Jenn.
they won’t last, if they don’t get that there is a rhythm and a way of doing things on the island. They will be run off the island. Also “Good Morning” is not just Good Morning, much more meaning to that.
“Good Morning” is not just Good Morning, much more meaning to that.
curious, please elaborate on that.
“good morning” is more than just a pleasantry on St. John. It’s part of the rhythm. If you have a question or need help, always start with “good morning”. You’ll get all the help you need.
Mike, the reasons that people sell vary. I think that it is extremely tough to operate a business here. Restaurants, for example, have trouble getting good product. There are times when their product simply does not arrive. For other businesses, dealing with the government hoops is tough. Getting a business license is very tough, and it needs to be renewed yearly. Living on an island is tough. Sure it sounds like paradise, but some days are tougher than others for many. Quality health care is lacking. Currently we do not have a single cardiologist in the USVI from what I have been told. Quality and affordable education for business owners with school-aged children can be a challenge. The cost of living is high. We lack so many conveniences like a mall or a large grocery store. There are so many variables that lead to people selling.
Regarding myself, I have said from day one that I will sell the blog when it is no longer fun anymore. Have I, like many others, thought about selling over the past eight months? I absolutely have at times. But ultimately, I still enjoy what I do, so the nuances of island life don’t get to me as much as they may get to others.
I hope this answers your question a bit.
I did run some math on the cost, $180 a day, 365×5 years for rent and purchase price, if you pay $235k cash, no loan interest.
Using 20% net after food,labor,taxes,maintenance, supplies, and all other daily business expenses, you would have to have $900 sales every day for 5 years to service that purchase and rent.
20% is almost impossible in the food business . And that only makes break even on the whole deal.
You would have some salary ( labor cost), food to eat ( good cost) if you could generate $328k a year , net 20% after expenses to service the purchase and rent, and might be able to sell the business if you can secure a longer lease.
I wouldn’t be able to convince a buyer of this business plan and commitment.
Sweet place but priced wrong.
There are currently two cardiologists practicing on St. Thomas. Dr. Ahmet Sayan who works out of the Paragon Medical Building and another whose name I don’t recall.
Also, for those questioning why the owner wants to sell Columbo’s. After 30 years of running this successful business he is ready to retire and have more time to pursue other interests. The truck just went thru extensive renovation after the storms.
Thanks for the info. All I know is that at least two people with heart conditions have been airlifted out of here recently due to the lack of a doctor.
Does the $230K include living arrangements?
I hate to be a downer here but shouldn’t you always start a bit high when selling something? I have a feeling there is room for negotiation.
54B needs to make an offer and get some of his/hers ideas moving forward(something to do with the wait staff)