Business revenue is always lower on paper than it really is
That also might be company revenue. A buddy of mine looked into buying a bar. It showed the gross revenue for the bar to be $30k. But the owner made $50k. The manager I think 30k. The actual owner was both manager and owner/president. Something like that. So all in all the bar profited the owner $110,000 on paper. That probably doesn't include the cash he hasn't reported.
It was a while since I looked at it but any business basically shows lower numbers than they truly make so they can cheat the tax system. If you don't you won't be a business.
I had a customer who owned many business' that basically explained to me that many business' (Exluding McDonalds and such that need multiple registers) that are small have 2 cash registers. Despite only 1 person works it at a time. 1 cash register shows small sales made in cash only. That cash register and reciepts will never be seen by the government.
Because it is required by law that if you are audited the government gives you a 7 day notice. It's not hard to make a cash register disappear. If you are in a store and see a clean spot on the counter. Then that place is being audited.
From what I do remember when my buddy looked into buying a bar/pool hall. $50k a year for the company is pretty good.
If you are interested in information on the place and find out where it is. PM me and I'll PM you back. I know many pool halls in town including the area.
and would love to get into the business as a new career!
