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MoonDogs, Too listed for sale
A famous Port Orchard landmark is up for sale.
Owner Darryl Baldwin said his business — MoonDogs, Too — is on the market for sale.
Baldwin said the business is listed for sale at $1.05 million, which includes the business and property together. The two-story building, located at 714 Bay St., is approximately 4,250 square feet and has a large beer garden.
“The package is a whole package,” said Baldwin.
According to the Better Properties Real Estate in Lakewood website listing, the real estate value is $500,000. The 100-year-old building was remodeled in 1990.
According to the listing, Moondogs’ annual income and expenses are $1.36 million with an annual gross of $1.5 million.
Baldwin’s battle with cancer forced him to put his business up for sale. For the past four years, the 57-year-old North Dakota native has been battling stage 4 Merkel cell carcinoma, a type of skin cancer. Doctors found three new tumors in December and informed Baldwin, who was undergoing chemotherapy, they were inoperable.
Baldwin said he originally had explored two options on continuing MoonDogs — the first was for the restaurant to become an employee-owned business.
“I did a lot of research and talked to lawyers,” Baldwin said Thursday. “They said it was a great plan, but the business is too small. The problem is if it was an employee-owned business, it would carry an annual maintenance fee which would start eating into any growth or stock the company might have. The employees really wouldn’t make out on this thing.”
He was told a minimal size to set up an employee-owned business was 20 employees. MoonDogs has 10 full-time employees, Baldwin said.
The second option would have been Sheila Cline, Baldwin’s girlfriend, and employee David Jones partners in the business.
“It’s going through all the licensing,” he said. “It’s not a done deal, but it’s in the process. I don’t think we’ll have any problems.”
He said the state’s Gambling Commission and Liquor Board looks for how individual are in compliance with laws and regulations.
“We should know something in the next few weeks or so,” Baldwin said. “The lawyers said keep the partnership small. The more partners, the more problems.”
He said if the partnership is formed, there would be revenue-sharing program for selected employees.
“It kind of does what I wanted with the employees’ stock, but just in a different format,” Baldwin said.
He said he wants the employees to have an “option out” from 90 to 180 day out if the business wasn’t making a profit.
The final option, Baldwin said, is to sell the business.
Baldwin feels it’s would be a great opportunity for someone who wants to own an established business and take it to the next level.
“I’ve always been passionate about MoonDog,” said Baldwin. “The more passionate you get from a single owner, the more likely the company will be successful first of all. Second of all, it’s really about being part of the community.”
Baldwin said it wasn’t hard for him to put it on the market, but it was for the employees.
“They all want it to work,” he said. “And I respect that. But at the end of the day the final decision will be made by me — if I am still here — or my daughter, Samantha, who is the executor of my estate and the employees.”
Baldwin said neither of his daughters are interested in taking over MoonDogs.
Baldwin started MoonDogs, Too in the location formerly known as Port Orchard Tavern in 2007. It was recognized as the “2013 Small Business of the Year” by the Port Orchard Chamber of Commerce.
After purchasing the building in December 2012, Baldwin started plans to renovate the kitchen because it was too small. The renovations added approximately 325 square feet to the building and enabled the coolers and freezers outside to be moved inside. It also created more counter space for the cooks and provided more dry storage room.