Caribou, Maine, is seeking young entrepreneurs to sustain its economic revitalization. Several longtime business owners in the city are preparing for retirement and are hoping that the younger generation will continue the trend of growth and development. A number of Caribou businesses, including Noyes Flower & Plant Shoppe, Cindy’s Sub Shop, Pat’s Automotive, and Bacon Auto & Truck, are currently up for sale.
Caribou is known for its family-based retail stores, restaurants, and auto repair shops, and has witnessed a rise in younger entrepreneurs taking over legacy businesses or starting their own ventures. With many family businesses not being passed down to the next generation, city and business leaders view the potential business sales as an opportunity to maintain the economic momentum.
Cynthia Noyes, co-owner of Noyes Flower & Plant Shoppe, emphasizes the need for young blood to keep the town thriving. Caribou has experienced economic ups and downs in recent decades, including the closure of the Loring Air Force Base in 1994 and the challenges posed by the COVID pandemic. However, the city is now showing signs of improvement, with new businesses opening in downtown Caribou.
Kimber and Cynthia Noyes, both 73 years old, have been running their flower shop and greenhouse for 48 years and are now looking to retire. While they have been trying to sell their business for the past two years, they are intensifying their advertising efforts to find a suitable buyer. If they are unable to find one, they may consider hiring a full-time manager to run the shop and greenhouse.
Jim Bacon, owner of Bacon Auto & Truck, has faced difficulties in finding young and skilled workers for his auto body and collision repair shop. He plans to close his business in December, even without a potential buyer, and is open to the idea of transforming the space into any type of business.
The Belanger family, owners of Pat’s Automotive, are also looking to sell their full-service gas station and repair garage. The reasons behind their decision have not been disclosed.
Cindy Johnston, owner of Cindy’s Sub Shop, has been running the business for 25 years and is planning to retire once she finds suitable individuals to take over. While she is open to anyone wishing to start a new business, she believes it would be special for someone to continue operating the sub shop.
The Caribou Development Committee is addressing the city’s aging population and its impact on businesses. They plan to organize workshops aimed at educating younger generations about starting a business and aim to publish a list of available properties in the city to attract young entrepreneurs.
With multiple business opportunities available in Caribou, the city hopes to encourage both existing business owners and aspiring entrepreneurs to contribute to its economic growth and preserve its tradition of small-business entrepreneurship.
