2million for Qmasters....

Anytime I purchase property, I get a profesional estimate of value. Currently I'm looking at a FSBO ''for sale by owner property''....the seller is asking for ''his'' price like Barry is, but I'm going to pay and get an estimate of value first, then go from there. Current market value and ''in my own mind'' value are waaaaaay different from reality. Barry said entry for the Open was $1,000 and not long after he lowered the entry fees 25%. What one wants and what the market is and what one eventually gets are completely different animals. Now if Romines in Milwaukee were for sale..............
 
IIRC, the last time it was for sale was with the right to assume the lease on the building. Unless he bought the property in the meanwhile he's only selling the business and contents.
 
jalapus logan said:
I'm willing to bet that the only value that those books have is in the restroom, and not as literature either.

Put in a way that pool players can identify with, I'd say that their bookkeeper can give Andrew Fastow the orange crush in accurate reporting....:cool:
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As the bookkeeper at Q-Masters I take those comments pretty personal. I can assure you there is no funny bookkeeping going on with me. When you or anyone say things like that then it's against MY reputation so please stop with any insinuations about the books at Q-Master Billiards.
 
I hear from someone I trust, that Barry does own the building. I wouldn't take that to the bank though. If you've never been to The Q, it's in a strip center (not strip joint perverts ;) )
 
stupid question -

if he's got a business worth $2M or $3M, then why have there been past "ïssues" about money/payouts?

PS - Roberta, i think they were referring to pool halls IN GENERAL (much like most restaurants/bars). i don't think it was personal. but GOOD FOR YOU - give ém sh*t!
 
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RobertaAgnor said:
As the bookkeeper at Q-Masters I take those comments pretty personal. I can assure you there is no funny bookkeeping going on with me. When you or anyone say things like that then it's against MY reputation so please stop with any insinuations about the books at Q-Master Billiards.
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With all due respect do tell us how he came to put a $2,000,000 value on this
 
RobertaAgnor said:
As the bookkeeper at Q-Masters I take those comments pretty personal. I can assure you there is no funny bookkeeping going on with me. When you or anyone say things like that then it's against MY reputation so please stop with any insinuations about the books at Q-Master Billiards.
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No offense intended. My comments were in jest only, uninformed, and admittedly in poor taste. I sincerely apologize. Sometimes my humor goes too far and this is one of those occasions. For the record, I have no intimate knowledge of Q-Masters, the US Open, or any of the folks that work hard to forward the cause of these organizations. Again, sorry for my comments and best of luck.
 
It says pretty clearly on the press release that it comes with a lease (therefore, he does not own the property):

"...a terrific landlord, a very fair monthly rent of under $15,000.00 which includes all common area maintenance…"

I'm curious why his kids seem to want nothing to do with this business. They've always been front and center at the US Open. If it is so profitable and valuable, wouldn't they want a piece of it?

KoolKat9Lives said:
I hear from someone I trust, that Barry does own the building. I wouldn't take that to the bank though. If you've never been to The Q, it's in a strip center (not strip joint perverts ;) )
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jalapus logan said:
No offense intended. My comments were in jest only, uninformed, and admittedly in poor taste. I sincerely apologize. Sometimes my humor goes too far and this is one of those occasions. For the record, I have no intimate knowledge of Q-Masters, the US Open, or any of the folks that work hard to forward the cause of these organizations. Again, sorry for my comments and best of luck.
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And theen he punched himself in the leg and all was good.
 
beetle said:
It says pretty clearly on the press release that it comes with a lease (therefore, he does not own the property):

"...a terrific landlord, a very fair monthly rent of under $15,000.00 which includes all common area maintenance…"

I'm curious why his kids seem to want nothing to do with this business. They've always been front and center at the US Open. If it is so profitable and valuable, wouldn't they want a piece of it?
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Maybe Barry will be the "terrific landlord"?

Your last paragraph beetle... I hope there is no familial discord. Brady has been playing some good pool of late. Shannon is a sharp cookie; perhaps it was time to spread her wings. Seems she sure had Barry's back for some time, albeit her retreat seemed a bit sudden.

I wish The Open and our Roberta all the best!
 
....comment deleted as jokes, no matter how funny, may not be taken in proper humerosity ...
 
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KoolKat9Lives said:
Maybe Barry will be the "terrific landlord"?

Your last paragraph beetle... I hope there is no familial discord. Brady has been playing some good pool of late. Shannon is a sharp cookie; perhaps it was time to spread her wings. Seems she sure had Barry's back for some time, albeit her retreat seemed a bit sudden.

I wish The Open and our Roberta all the best!
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Thanks Matt. Brady has his own successful business and Shannon is now doing well as a real estate agent.

Sent from my SM-G900T using Tapatalk
 
Barry must own the building and leases it to himself as a separate corp. That way, by paying himself rent, he can sell the pool biz and always have the rent biz. If the poolroom has slow months, he doesnt pay and takes a tax write off on the building biz. Oldest move since made ya look. I wish him the best finding a buyer at 2m. Barry will sell this room on a multi year buy-out, as an opex, based on revenue collected.
 
Of course the value of the business should include a multiple of earnings. The idea that it is a pool hall so it doesn't is nonsense. It is only true when the person running the business is the business, typically a service provider. Although things like brand value mean less.



Furthermore, a liquor licensee in some locales is worth more than the business itself since they may not be so easy to get.

That being said, unless barry is generating 1 million in gross sale/yr than he is nuts. A good valuation includes not only the assets on the balance sheet (and return on assets and book value) and the cash flow and cogs but forward earning estimates and they don't look so good for pool (relative to a standard benchmark). Some businesses can get closer to the 3x gross earnings while others will be lucky to crack 2x. A pool hall might never see anything north of 2x.

The rights to the US Open, hardly worth the paper. How much profit does it bring?

don't mention goodwill. Most people have refereed to it incorrectly on here.
 
He may very well own the building and it is indeed better more many many reasons to own it in a separate LLC or as yourself outside the business. However, holding onto the property long after you sell the business (especially a stand alone property) is more common when it is a multi-generational succession plan. IE, the kids own the business and the original owner (mom and dad) can receive income which is passive and not subjected to many other taxes. They may also transition from an s-corp to a c-corp. While not as beneficial to the children, the parents can maintain "x" number of shares and receive dividends versus s-corp distributions or W2 income.

Anyhow, most people enter into the purchase of the building with a guarantee or first right of refusal on the sale of the building within a certain period of time. 7 years is common, no more than 10. I would never advise a client to purchase a business without that right.
 
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