Entrepreneurs with an eye on unique spaces will find their next venture in Aroostook County.
Several local businesses are up for sale, from garages to retail stores to restaurants. Opportunities vary, and prices range from nearly $2 million to less than $200,000.
Aroostook’s close-knit community and well-known work ethic make it a home base for families who have spent years, even decades, growing their businesses. When it comes time to consider retirement, some owners make the difficult decision to sell. And like many parts of Maine, the county has an aging population, and retirements are common.
Clifton Seal of Acadian Cabinet and Woodworking in Madawaska is considering retirement, but he doesn’t want to see the business he’s run since 2003 disappear. Syle, 65, knows that post-Aroostook young people often face at least one major obstacle to owning a business: a lack of capital to start a business, so it’s difficult to find the right buyer. He said he plans to wait.
“We’re frustrated that all the young people are leaving. They say there’s no industry here, there’s nothing to sustain them,” Saill said. “The problem is that most young people don’t have the money to buy a business and get things going.”
Seal said he has loved woodworking since high school. He started out in carpentry, but then he gravitated toward finer finishing work such as cabinetry, closet systems, and library supplies. He’s willing to give up running the business, but he doesn’t want to give up his tools. He hopes to continue working for the new owner.
Shea hopes someone of integrity with a good work ethic, perhaps someone younger, will take over the business and establish an online presence, he said.
Acadian Cabinet and Woodworking is listed with Crown Lakes Realty in Madawaska for $140,000.
Here are four more businesses currently for sale.
Riverside Inn (Presque Isle)
“I want people to know we’re not closing,” said Sandy Collins, co-owner of Riverside Inn Restaurant in Presque Isle. “We just want someone to own a restaurant.”
Riverside Inn, opened by Danny and Sandy Collins in 1984, is celebrating its 40th anniversary this year. Located in a building that once housed the train station, Condon’s Bakery, and Dave’s Pizza, this spot has been a perennial favorite for its breakfast and other homemade dishes.
Sandy Collins said business has actually increased during the morning and during the day due to the pandemic. Since she owns both a restaurant and a busy catering business, things can get too hectic, she said. But she still plans to work part-time in Riverside.
The business is listed on Realty.com for $829,000. Collins said she would like to see it delivered to her family.
“It’s been a family business for 40 years, and it takes families to look out for each other and get things done,” she said.
Seiders Variety and Sporting Goods, Hodgdon
Owned by Laura and Geno Siders for six years, the store has it all: a redemption center, restaurant, convenience store, gun store and sporting goods store. Oh, there’s also a bowling alley.
Laura Siders said the owners are ready to retire and don’t have family members to take their place as their children grow up and become established in other careers. So they put the business on the market. It is listed with Northern Maine Realty for $1.7 million.
They started by taking over a bowling alley. Then, the bowling alley was closed due to the coronavirus. They reinvented themselves by creating redemption centers and just kept adding to it, she said.
Siders hopes someone who has a vision of everything this place could be will buy it. It’s her own mini-mall, she said, with bowling and mini-golf, as well as a variety of retail options.
“It’s a success. If someone wants to jump on it, there are a lot of avenues they can take to this place,” she said.
Bacon Auto and Truck Care, Caribou
James Bacon is still looking for a buyer, but he plans to close Bacon Auto and Truck Care this summer after 30 years.
“I have a great reputation and a lot of customers,” Bacon said. “Well, it’s time. At my age, I’m ready to move on.”
The business is listed with Northern Maine Realty for $419,000.
During the pandemic, Bacon’s staff has been reduced from seven people, including himself, to two, and he said it’s been difficult to find full-time employees. He has several businesses he plans to pursue, including real estate.
Bacon said she has worked from an early age because her parents instilled in her a strong work ethic, which drove her career. He wants to sell to such a dedicated person.
Al’s Dairy Freeze, Fort Kent
With many customers across the Canadian border, Al’s Dairy Freeze has been a Fort Kent staple for more than 30 years. But owner Allen Bouchard said it was time for him to retire.
He has operated a busy restaurant, including an ice cream parlor, for 32 years. Although he was temporarily affected by the pandemic, he said his business quickly picked up as 70% of his sales were already takeout.
Al’s is listed on Fields Realty for $379,000, and the company is also publicizing it on social media. Bouchard said buyers need to be hardworking and customer-friendly, but they also need to handle things with care.
“[They should] “When we first start, we’re not going to change anything,” he said. “Changes should be made very slowly so as not to negatively impact them or the business.”
He offered to stay on for a while to help the new owners get started and also take care of equipment repairs.
These business owners said it’s all about wanting to serve their customers. It may take time to find someone to carry on their legacy, but they believe it will happen.
