This is really funny, I was just about to post almsot the exact same thing. We can make it the first forum co-owned business in the world. Put up a kickstarter page for it, $1,000 donations would get free pool for a year or something.
2million for Qmasters....
- Thread starter The Renfro
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This is really funny, I was just about to post almsot the exact same thing. We can make it the first forum co-owned business in the world. Put up a kickstarter page for it, $1,000 donations would get free pool for a year or something.
Yeah, he must think the name is worth something.
I had a family member who wanted to sell a business for 3m and its annual sales were >2m.
He still owns it.
Damn...if only somebody here knew something about pool's history.
I don't think a pool room is as easily replicated as you do. Otherwise, pool rooms wouldn't all be closing left and right. But I get your point.
Basically, in my mind this business would have to clear around 200k a year without you working there to even consider the 2M price tag. Otherwise, there's just way too much risk involved. Even with clearing 200k it would be a real roll of the dice.
I bet someone ends up buying the place for 400 or 500k or they just close the doors at some point.
What set of books are you looking at that says this business has a value of $2,000,000.00
wait a minute! he doesn't OWN the property?
:rotflmao1:
y'all might want to check if his equiptment is leased, as well. (my restaurant supply accounts lease or sell.)
and from what i gather, the bulk of business is done during the Open? if that comes to an END next year with his "something big planned for 40th Open", then it's reduced to simply being "the largest US pool hall" for locals.
what's the term on his lease...?
Pinky, you read my mind, I just didn't want to post it... but since you did.... HOLY COW. $2M and I don't even get the friggin building? You gotta be out of your MFing mind. I could spend $2M and I could get tossed out of my lease in a year or two, or get it jacked up that I have to leave, then I would have sell all the equipment, maybe $200K, tops, and thus I only lose $1.8M. And it does not even come with the US OPEN rights ??? I mean, what is that, an extra millions ?? Plus, the place badly needs a complete renovation. What's that gonna cost, another $500K ??
Sorry, if this sells for $2M, I'll eat my hat
Pinky, you read my mind, I just didn't want to post it... but since you did.... HOLY COW. $2M and I don't even get the friggin building? You gotta be out of your MFing mind. I could spend $2M and I could get tossed out of my lease in a year or two, or get it jacked up that I have to leave, then I would have sell all the equipment, maybe $200K, tops, and thus I only lose $1.8M. And it does not even come with the US OPEN rights ??? I mean, what is that, an extra millions ?? Plus, the place badly needs a complete renovation. What's that gonna cost, another $500K ??
Sorry, if this sells for $2M, I'll eat my hat
I am going to start interviewing partners, just to spite you.
I am in for $200.00, those with money please send me your financial documentation for consideration.
You guys are really thinking too small here. I am envisioning a pool hall dedicated Real Estate Investment Trust that owns and leases the land, building, equipment, etc. to pool hall operators. After we go public, we can then trade the shares OTC as a pink sheet. Wait, better yet, we can just trade 'em right here on our very own Action Room subforum.
Yes, this is sheer genius, and yes, I am in for up to $5.00 to help fund this venture.
Yes, this is sheer genius, and yes, I am in for up to $5.00 to help fund this venture.
A Sale & Leaseback REIT? Awesome. I'd like to be the first to sell a poolhall to this REIT.
Eric >me first
Iam in for 1 million, but don't call me , I will call you!
lets see the books
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You would need Barry and everyone within 50 shades of him to sign a non compete -- or he would take the 2 million and build a building down the road from you, open a new pool room, take all his customers back and you would be left with 71 tables to sell on ebay.
There was a piece of property by my house that a major grocery chain wanted. They paid 5 million for it and had the owner sign an agreement that he wouldn't sell an adjacent piece of property to a competing grocery chain. He signed the agreement and sold the land to grocery chain (A). Then he sold the adjacent piece of property to his son for a penny. His son sold that piece of property to grocery chain (B) for another 5 million. America is great.
There was a piece of property by my house that a major grocery chain wanted. They paid 5 million for it and had the owner sign an agreement that he wouldn't sell an adjacent piece of property to a competing grocery chain. He signed the agreement and sold the land to grocery chain (A). Then he sold the adjacent piece of property to his son for a penny. His son sold that piece of property to grocery chain (B) for another 5 million. America is great.
good one....
and you're right. that's why you let them GOB, and then waltz in at $0.10/dollar with cash.
Ta-da!!
____________________
Liking that!
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www.facebook.com/raisingthehustler
@raisingthehustl
#raisingthehustler
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____________________
Liking that!
-CP
www.facebook.com/raisingthehustler
@raisingthehustl
#raisingthehustler
#poolordie
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Ahhh-
________________________________
Well said Watchez!
And never mind that he needs to be watched and mollycoddled to be sure he does the right thing.
The one year Dennis Walsh didn't assist with the escrow of the US Open money,
the players suffered and were put on the stall!
I always cringe to hear his favourite indulgent quote,
"I've been doing this almost 40 years."
Yet, he still hasn't figured it out...
It's not about HIM!
He interrupted match play last year for 30 minutes - IN THE MIDDLE OF MATCHES!!!
UNSCHEDULED INTERRUPTION!
to have an impromptu concert, in the middle of semi final play-made everyone just stop.
Where he put HIMSELF and continues to put himself...
http://wtkr.com/2012/06/19/man-and-dog-on-jet-ski-get-stuck-in-thick-mud-in-virginia-beach/
dork.
www.facebook.com/raisingthehustler
@raisingthehustl
#raisingthehustler
#poolordie
________________________________
Well said Watchez!
And never mind that he needs to be watched and mollycoddled to be sure he does the right thing.
The one year Dennis Walsh didn't assist with the escrow of the US Open money,
the players suffered and were put on the stall!
I always cringe to hear his favourite indulgent quote,
"I've been doing this almost 40 years."
Yet, he still hasn't figured it out...
It's not about HIM!
He interrupted match play last year for 30 minutes - IN THE MIDDLE OF MATCHES!!!
UNSCHEDULED INTERRUPTION!
to have an impromptu concert, in the middle of semi final play-made everyone just stop.
Where he put HIMSELF and continues to put himself...
http://wtkr.com/2012/06/19/man-and-dog-on-jet-ski-get-stuck-in-thick-mud-in-virginia-beach/
dork.
www.facebook.com/raisingthehustler
@raisingthehustl
#raisingthehustler
#poolordie
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It would have to be sold as "building included" to be worth even close to that. Then it would be questionable. Too much money for too big a risk. You can never depend on landlords no matter how good of a person they are. Business is business. Dog eat dog. And what happens when the building owner dies or sells out? The family or business partner that inherits the building could really screw you over when your contract is up. Too big of a risk without owning the building.