3 Million is a lot of money for goodwill
$ 3,000,000 for what. I've been to Q-Masters several times and just don't see how Barry can justify that number. Yes, it is a premier pool hall, but its' just a pool hall. Pool players in general are not big drinkers, especially the good ones. He may have 100 teams playing weekly and that is a good foundation because league players drink and eat a bunch.
What real assets does the business have. Fifty six tables, (half of which are Valley bar boxes), restaurant equipment, and the pro shop (although well equipped) can't be worth more than $ 500,000. That leaves a ton of goodwill.
He doesn't own the building, has 21,000 square feet, that he pays rent on monthly.
If anyone pays that kind of money, they better get a non-compete clause in the sales agreement. Don't get me wrong, I hope Barry gets the full asking price as that will set a precedent and increase the value of my room. I have 80 teams playing weekly on 9 foot Gold Crown 4's. I know what kind of revenue league play can generate.
$ 3,000,000 is a ton of money. Someone please pay Barry, the full asking price. We've all heard how Barry has lost a ton of money on the US Open in years past. Maybe after he sells Q-Masters he will be able to pay out all monies as promised in the US Open.
Good Luck Barry
