Restaurant business, You are the owner of Dinghy's

Restaurant business

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Reference no: EM133575622

Question

You are the owner of Dinghy's Restaurant, the only restaurant and bar at Honeymoon Beach, which is located on Water Island, just south of St. Thomas in the U.S.V.I. People get there by water taxi from Crown Bay marina. The beach is a steep walk from the ferry dock, but you drive customers from the dock to your establishment for free in an open-air taxi. The drinks are great, the food is fabulous, the water is beautiful, and the beach is gorgeous! Tourists and locals flock to your restaurant most of the year and you're only closed for Christmas day. You're lucky in that years ago, you bought a small portion of the beach and the building for a great price from the government (which owned the building and beach since it was used for decades as a dock and customs house for foreign ships), paying cash you received from the sale of your previous business. Can you say "No Mortgage"?

Reference no: EM133575622

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