Atlanta-area music fans got a jolt from a real estate listing Decatur, Ga., local institution Eddie’s Attic. But owner Bob Ephlin says that looks can be deceiving.
The 180-capacity venue is listed at $330,000, he confirmed to the Atlanta Journal-Constitution, but his primary goal is to hunt up some investor capital to continue growing Eddie’s Attic, not shut it down.
“Just like any small business guy you need to reach and look for additional capital in order to grow the business,” Ephlin told the paper. “I had exhausted my immediate contacts and enlisted the help of a professional to look for investment capital.”
Ephlin said while he will consider an outright sale, what he’s hoping for is a partner or some type of investment relationship.
“There are several things that we want to do that would be hard to fund myself,” he told AJC. “If we can find a partner and investor or someone willing to loan money that would be great.”
And some of the revenue streams he’s considering are fairly novel, including a TV pilot he’s reportedly shopping to several networks. He hopes to make upgrades to the facility that has been showing steady growth since Ephlin took over some five years ago.
What should make Eddie’s Attic attractive is not just attendance, which Ephlin says has doubled, but the fact that he’s diligently maintained a customer database that has some 9,000 names. The club also has a syndicated radio show featuring recordings from the venue airing on more than 40 southeastern stations.
“Eddie’s Attic is fine. It is not going anywhere,” Ephlin told the paper. “I have invested a lot of energy in helping to get the business to this point. … I would like to see it go to the next level whether I am a part of it or not.”