Entrepreneurs with an eye for unique spaces could find their next venture in Aroostook County.
Several local businesses are up for sale, from garages to retail stores to restaurants. The opportunities are varied, with price tags ranging from nearly $2 million to under $200,000.
Aroostook’s close-knit communities and well-known work ethic make it a stronghold for families who’ve spent years, even decades, growing their businesses. When it’s time to think about retirement, some owners make the tough decision to sell. And with an aging population in the County, as in much of Maine, retirements are common occurrences.
Clifton Cyr of Acadian Cabinet and Woodworking in Madawaska is looking to retire but he doesn’t want to see the business he’s operated since 2003 disappear. Cyr, 65, said he’s willing to wait for the right buyer, knowing that younger people in Aroostook and beyond often face at least one major obstacle to owning a business – lack of startup money.
“We complain that all the young people are leaving. They say there’s no industry, nothing to keep them up here,” said Cyr. “The thing is, most young people don’t have the funds to purchase a business and get things going.”
Cyr said he has enjoyed woodworking since high school. He went into carpentry but then gravitated toward finer finish work like cabinets, closet systems and library fixtures. He’s ready to give up running the business but he doesn’t want to hang up his tools. He’d like to continue working under a new owner.
Cyr would like to see an honest person with a good work ethic, and probably someone younger, take over and establish an online presence for the business, he said.
Acadian Cabinet and Woodworking is listed with Crown Lakes Realty in Madawaska for $140,000.
Here are four more current businesses up for sale.
Riverside Inn, Presque Isle
“I want people to know we are not closing,” said Sandy Collins, co-owner of Riverside Inn Restaurant in Presque Isle. “We just want someone else to own the restaurant.”
Opened by Danny and Sandy Collins in 1984, Riverside Inn marks its 40th anniversary this year. In a building which once housed a train station, Condon’s Bakery and Dave’s Pizza, the spot has long been popular for breakfast and other homemade food.
The pandemic actually grew their morning and daytime business, Sandy Collins said. Owning both the restaurant and their busy catering business makes things too hectic, she said. She still plans to work at Riverside part-time, though.
The business is listed on Realty.com for $829,000. Collins said she’d like to see it go to a family.
“It’s been a family business for 40 years, and it takes a family to look out for each other and get things done,” she said.
Seiders Variety and Sporting Goods, Hodgdon
Owned by Laura and Geno Seiders for six years, this store is a bit of everything: redemption center, restaurant, convenience store, gun seller and sporting goods shop. Oh, and there’s a bowling alley there, too.
The owners are ready to retire, and with their kids grown and established in other careers, there’s no family to step in, Laura Seiders said. So they put the business on the market. It’s listed at Northern Maine Realty for $1.7 million.
They started out by taking over the bowling alley. Then COVID hit, which closed down bowling. They reinvented themselves with a redemption center and just kept adding, she said.
Seiders wants to see someone buy it who has a vision of all the place could be. It’s its own mini-mall, she said, with bowling and mini golf along with various retail options.
“It’s successful. If anybody wanted to jump on, there are so many avenues somebody could take this place,” she said.
Bacon Auto and Truck Care, Caribou
Though he’s still trying to find a buyer, James Bacon will close Bacon Auto and Truck Care this summer after being in business for 30 years.
“I have a really good reputation, and I’ve got a lot of customers,” Bacon said. “Now, it’s time. At my age I’m ready to move on.”
The business is listed for $419,000 at Northern Maine Realty.
During the pandemic, Bacon’s staff dwindled from seven to two, including himself, he said, and it’s hard to find dedicated workers. He has several businesses he will continue, including real estate, he said.
Bacon said he has worked since he was young because his parents instilled a strong work ethic which has fueled his career. He hopes to sell to someone with that kind of dedication.
Al’s Dairy Freeze, Fort Kent
With a large clientele from across the Canadian border, Al’s Dairy Freeze has been a Fort Kent staple for more than three decades. But it’s time to retire, said owner Allen Bouchard.
He’s operated the busy restaurant, which includes an ice cream parlor, for 32 years. Though affected briefly by the pandemic, business rebounded quickly because 70 percent of it was already take-out, he said.
Al’s is listed with Fields Realty for $379,000, and the business has also put the word out on social media. Whoever buys it should be hardworking and personable with customers, but should handle things cautiously, Bouchard said.
“[They should] be willing not to change anything when they first start,” he said. “They should do changes very slowly so it doesn’t hurt them or the business.”
He has offered to stay on for a while and also handle equipment repairs to help the new owner get started.
It’s all about wanting to serve customers, these business owners said. It may take time to find someone to carry on their legacies, but they believe it will happen.
