Because of the still flagging economy, some entrepreneurs are looking to revive some known brands. Astro Pops, Boast logo shirts, and National Premium beer are all coming back.
In particular, Eddie Riegel has purchased the the old Seafood Shanty chain, bought the original recipes for $7,500 and hired 19 of the 85 employees that used to work for the chain, though he’s adding a raw bar and a seafood market at the flagship location. “There’s a tremendous amount of buzz around this,” he says. “Anyone who grew up in the area remembers these restaurants.”
While brands go up for sale after not being used for three years, other entrepreneurs say they are actively seeking the owners of old products and concepts in order to buy the rights. “It’s pretty much open season for older brands,” says Garland Pollard, a former travel writer from Sarasota, Fla., who started BrandlandUSA, a Web site for posts about classic American brands.
“Because something is discontinued doesn’t necessarily mean it’s a bad product,” says entrepreneur Ellia Kassoff of Newport Coast, California. “Maybe it just didn’t fit the business model of the company at the time.”
Tim Miller of Easton, Maryland paid $1,200 for the National Premium beer trademark at a December 2010 auction. The beer has been a staple of Baltimore Orioles fans for a long time, and he spent the first six months of 2011 tracking down the beer’s original recipe, and has since lined up two distributors and hopes to start selling the beer later this year.
“It was just too good to be true for a native Marylander to see a brand like that available,” says Miller, a realtor.
Source: WSJ
