What would be a fair price for this business?
A friend of mine started a bar free poker league a little over a year ago. He doesn't make a shit ton of money from it, but averages about $50/night 7 days a week from it. (The bar pays him to basically bring customers in).
Anyways.. he's always strapped for cash, and I can see some potential in what he's doing. I'm thinking about making him an offer to buy it. He currently has two bars and I would only be interested in buying one of them. My offer would be for the one account only, not including his equipment and he could continue to run the other one.
I'm not looking to get rich off this thing, just some relatively easy extra income.
If you ran his business, what would you sell just the one account for. Assume both accounts make the same amount of money.
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