Brad Foster
Grosse Pointe, MI (USA)
Role(s):
Founder/Owner/Principal
Mt. Maria Ski Resort Restoration
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Startup
Location:
Grosse Pointe
Industry:
Real Estate
Year Founded:
2009
Number Employees:
10-50 people
Description:
Mt. Maria Ski resort opened in the 60s and it gave jobs to all the locals of Hubbard Lake,Michigan, a beautiful rural lake community in northern Michigan. Due to greed and up I believe that opening this resort can be a huge money maker, considering it would be the only resort in Northeastern Michigan. This will attract during the week daytime skiers from the Alpena area as well as the Bay City, Flint, and Saginaw areas. In addition to the property, I am in the process of acquiring a chairlift which will run about 1.2 million installed.
After the lift is installed, I will need to purchase two snow groomers, and two snowmobiles for ski patrol and first aid. I will need two snow cannons to make snow, and I plan to put them on the back of the snow groomers so that they will be “portable” and I can drive them to where I need snow made. I am in touch with a ski resort master planner who will come in and design a terrain park and install lights for the slope.
I have found someone who will lease the restaurant with the understanding that in 5-7 years, the restaurant will be moved to the top of the mountain and will be below the new lodge that will have 50 rooms. It will be rustic architecture and will maintain the "upnorth" scenery, avoiding heavy development of the area, but an economic stimulus nonetheless. The scenic view from atop the mountain will be gorgeous and will surely attract many skiers, snowmobilers, and ice fishermen. The lodge at the base of the mountain will be strictly a lodge for skiers/snowboarders and will have a cafeteria style eating area managed by myself, as opposed to the restaurant run by an independent party. I hope to expand the runs on the mountain between 7-10 years and make use of more of the undeveloped woods area.
Sources of revenue will include the lift tickets, the restaurant lease and 5% of profits, ski/board rentals, and advertising by local business and ski/snowboard companies. Once the hotel is build, in 5-7 years, revenue will include the lift tickets, the restaurant lease (higher) 5-7% profits, rentals, advertising, all profit from cafeteria, and hotel lease with 15% profits. The hotel will be exclusive to Mt. Maria Ski Resort, and although people may stay there who are not skiing, the party that decides to manage the hotel will have the understanding that all of the customers who ask about places to stay will be directed to the new hotel/lodge.
By year five, most of the debts will be paid off so that there will be enough income to commence building the new hotel/restaurant structure. Investors will be paid starting the end of the first year. By year 7, income will exceed $2.2 million, especially keeping in mind that both the hotel and restaurant will function year-round, targeting busy summer seasons as well, such as the fourth of July and Memorial Day weekend.
As you can see, by the 8th year, Mt. Maria will become a staple in the Hubbard Lake area, bringing back the vibrancy and tourism that used to flock the area. It doesn’t take much to get people to visit such a beautiful, secluded nature setting, while enjoying the inexpensive hobby of skiing. With the economy in it’s current state, now is an even better time to take advantage of the fact that many people are vacationing close to home, and Hubbard Lake makes for the perfect vacation spot in the summer, so why not make it a perfect vacation spot year round? Mt. Maria has seen booming days, and by opening it, this lost gem can be rediscovered.