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Cape Gazette
Lewes, Delaware
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May 1, 1998     Cape Gazette
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May 1, 1998

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44 - CAPE GAZETTE, Friday, May I - May 7, 1998 BUSINES:00 & REAL ESTATE Rehoboth's BP 'Super Soda' gas station gets a facelift By Jen Ellingsworth Big changes are in store for the BP (British Petroleum) Super So- da Center on Rehoboth Avenue Extended. Never fear, though, of- ficials of the convenience store have pledged that the establish- ment will return with the same services and even bigger and bet- ter sometime around the start of the season. Steve Besse, president of New Dawn Enterprises, the company that owns 11 Super Soda Centers in Delaware, said changes to the convenience store include an ex- pansion to the existing services previously offered at the Re- hoboth Beach location. Located before the bridge at the entrance of Rehoboth Beach, the BP Super Soda Center is slated to reopen Memorial Day weekend, said Besse. "We're going to be back stronger and better," he said. "We're going to be even more ap- preciative to our loyal customers." The facelift of the convenience store is part of a program started at the Super Soda in Dover, said Besse, and includes the addition of an "Express 24" format. While the previous structure has been razed, a new two-story build- ing has taken its place and con- struction is moving at a smooth pace. Besse said while the bottom floor will house the convenience store, the top level will be residen- tial. The new building will include more glass and resemble an exist- ing facility in Townsend, he said. The Express 24 also means, you guessed it, 24-hour-a-day service and "card reading," which allows drivers to pull in, swipe their cred- it card and pump gas without ever having to talk to an attendant. "It's going to be a really neat, attractive place to come and shop," said Besse. "While we'll continue to offer the best, low prices in gasoline at the shore, in- side we'll offer the finest in any category." He said the revamping of the Rehoboth location is the next in a series of facelifts to all of his com- pany's Super Soda locations, in- cluding those in Milford. "We'll be slowly changing them all over into the Express 24 formaL" he said. Continued on page 46 The BP Super Soda Center on Rehoboth Avenue Extended, just before the bridge, is slated to reopen around Memorial Day weekend. Country Acc{.00nts slates Rehoboth grand opening for May 16 By Jen EUingsworth It's all of the handiwork you'd see at a craft show, except it's all in one store. Open at its Route 1 location in the Ma- rine Village Shops (across from the Re- hoboth Outlets 3) for over a year now, Country Accents has expanded its location and has a grand reopening celebration in the works. A craft lover's paradise, the Country Ac- cents store has expanded its site to almost double its size, said owner Christine Beide- man. She said she's added the handiwork of 18 new crafters to her already loaded sta- ble of home and gift items. During the grand opening, slated for Saturday, May 16, the store will offer 10 percent off of all its merchandise. Included in the array of craft items are collectable baskets galore, including retired Longaberger baskets and accessories. Furniture, dolls, decorative wrought iron, swings, wreaths, yard signs and a bevy of candles are also included. Country Accents also carries the popular "standing corner babies" or "time-out buddies." Beideman, a former day-care owner of 12 years and a resident of Georgetown, de- cided to apply her love of crafts and going to craft shows to a retail operation in the Cape Region. She said she's been doing crafts of her own and scouring the shore at other craft shows to develop a comprehen- sive blend of works from different types of crafters. She said the response to the open- ing of Country Accents was encouraging and she continues to draw customers from Delaware, New Jersey and Pennsylvania. She credits the variety of her inventory, combined with the convenient location of the store, with the success of Country Ac- cents. "Instead of buying wholesale off the Continued on page 46 Angle Moon photo Christine Beideman is owner of Country Accents, a craft store located on Route 1, in the Marine Village Shops. The newly expanded store has set a Saturday, May 16 grand reopening. Tips if you are preparing to buy a business Where does one begin the search for a business? Looking in the classified section of local newspapers; purchasing business opportunity publications; calling business brokers; going into pros- perous businesses and asking if they are for sale? The answer is all of the above - and more. Additional sources include sup- pliers to the businesses you seek; professionals advising business owners: news articles; customers and competitors of businesses; in- dustry trade associations; cham- bers of commerce; landlords; and auctioneers, to name just a few. Where to search? Everywhere, si- multaneously. This article addresses the initial phases of the business acquisition process; future articles will ad- dress due diligence, appraisal and financing. Only one out of seven compa- nies are advertised or offered A ,#! BUSINESS FOCUS Clint Phillips through middlemen; you must ad- dress what "Business Week" mag- azine calls the "hidden" market - businesses for sale by owner. An effective search system should lo- cate at least one mature, profitable business for sale each month. Most businesses are not worth owning. Their owners hope for a naive buyer to take the business off their hands. According to IRS statistics, only one out of five pri- vately held businesses pay the owner a fair salary and benefits and earn enough profit for the business, after its sale, to pay for itself and provide a decent return on the buyer's investment. Most buyers are disappointed in their purchase. As your banker can confirm, 80 percent of the buyers earn less than they did when they worked for someone else, and their net worth decreas- es. The smart business buyer plans his or her approach to purchasing a business by starting with a thor- ough analysis of themselves - be- fore looking at any businesses. You must demonstrate your quali- fications, upfront, to a seller to prove you are a viable buyer of the business. Few businesses are sold for all- cash; most sellers carry some fi- nancing on the sale of their busi- nesses. The seller makes a finan- cial investment in your future business Success; if you are not successful you will not have the means to repay the seller. Why do sellers seem demandirig? They will lose a large portion of their net worth if you cannot fulfill your obligation of future pay- ments. Demonstrate your qualifica- tions. Your r6sum6. Give examples of accomplishments. You are not looking for a job; the seller wants to know what you achieved, not simply your line of work or job ti- tle, during your years of business ownership or working in a job. Your team. No one is an is- land, and the buyer who repre- sents himself in all aspects of the purchase has a fool for a client! Have competent accounting, tax, legal and business acquisition as- sistance to locate and evaluate businesses. A seller seeing your assembled team of experts recog- nizes you as a serious and capable buyer. Your financial resources. Be prepared to demonstrate your fi- nancial resources available to pur- chase the business. Know how to satisfy the sellers' requirements but do not show the seller your en- tire net worth. Your definition of an accept- able business. You must have a firm idea of the type(s) of accept- able business(es). Include pre- ferred industries, a revenue range, desired number of employees, lo- cation criteria, salary you expect, and your target return on invest- ment. Your advisors will help you be realistic! Your impressions. You never get a second chance to make a first Continued on page 46