What would be a fair price for this business? - GoFuckYourself.com

LightscapeMedia · 03-22-2014, 12:03 PM

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.

LightscapeMedia · 03-22-2014, 12:14 PM

I should also mention that he only hosts 2 nights a week at the venue I'm interested in.

woj · 03-22-2014, 12:46 PM

so makes $400/month? and it doesn't exactly run itself, you have to work at it? you might as well get a part time job... but if you are feeling generous and want to help your buddy out, offer $500?

Nice_Nick · 03-22-2014, 01:37 PM

Quote:

Originally Posted by woj

so makes $400/month? and it doesn't exactly run itself, you have to work at it? you might as well get a part time job... but if you are feeling generous and want to help your buddy out, offer $500?

Isn't it $50*30 = $1500 / 2?

So $750 a month per account

Unless it's $50 per account ($1500)

I would think 3 months revenue would be fair.

woj · 03-22-2014, 01:48 PM

Quote:

Originally Posted by Nice_Nick

Isn't it $50*30 = $1500 / 2?

So $750 a month per account

Unless it's $50 per account ($1500)

I would think 3 months revenue would be fair.

"he only hosts 2 nights a week at the venue I'm interested in"

so 2 x per week * 4 weeks/month * $50 = $400?

unless I'm reading it wrong?

LightscapeMedia · 03-22-2014, 01:55 PM

Quote:

Originally Posted by woj

"he only hosts 2 nights a week at the venue I'm interested in"

so 2 x per week * 4 weeks/month * $50 = $400?

unless I'm reading it wrong?

He only hosts two nights a week. The venue is available for poker 7 days a week.

LightscapeMedia · 03-22-2014, 01:56 PM

I'll also be getting his players at that venue as well. I'm thinking $2,000 cash and $150/mo for 18 months.

Nice_Nick · 03-22-2014, 01:56 PM

No, I think you are reading it right. I didn't see the second post.

Ferus · 03-22-2014, 03:09 PM

I would call that pocket-change, rather than business

EvaCash · 03-22-2014, 04:02 PM

Three months revenue would be a more than fair offer.

ottopottomouse · 03-23-2014, 04:28 AM

Quote:

Originally Posted by LightscapeMedia

He only hosts two nights a week. The venue is available for poker 7 days a week.

Just because it is available doesn't mean you will be able to fill it.

Quote:

Originally Posted by LightscapeMedia

I'll also be getting his players at that venue as well. I'm thinking $2,000 cash and $150/mo for 18 months.

47 weeks of current income? You're mad.

slapass · 03-23-2014, 05:59 AM

Quote:

Originally Posted by LightscapeMedia

I'll also be getting his players at that venue as well. I'm thinking $2,000 cash and $150/mo for 18 months.

So you would net $250/month after paying him? Just do the 2k and call it done. Even that seems out of line. What would you make an hour to do it? You have to setup? Equipment? Take down? Advertise?

What is your upside? Add 5 nights to the gross? Add venues? Do you need staff? Not sure what the goal is...

Lichen · 03-23-2014, 06:04 AM

don't bother with it

too much trouble for so little cash

12clicks · 03-23-2014, 07:15 AM

Why would you pay money to work a part time job making $50 a night.
You could make that as a busboy and you wouldn't have to buy in

03-22-2014, 12:03 PM	#1
LightscapeMedia DirtyPeach.com Industry Role: Join Date: May 2010 Location: I'm mobile Posts: 828	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. __________________ Last edited by LightscapeMedia; 03-22-2014 at 12:05 PM..

03-22-2014, 12:14 PM	#2
LightscapeMedia DirtyPeach.com Industry Role: Join Date: May 2010 Location: I'm mobile Posts: 828	I should also mention that he only hosts 2 nights a week at the venue I'm interested in. __________________

03-22-2014, 12:46 PM	#3
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	so makes $400/month? and it doesn't exactly run itself, you have to work at it? you might as well get a part time job... but if you are feeling generous and want to help your buddy out, offer $500? __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

03-22-2014, 01:56 PM	#7
LightscapeMedia DirtyPeach.com Industry Role: Join Date: May 2010 Location: I'm mobile Posts: 828	I'll also be getting his players at that venue as well. I'm thinking $2,000 cash and $150/mo for 18 months. __________________

03-22-2014, 04:02 PM	#10
EvaCash Registered User Industry Role: Join Date: Mar 2014 Posts: 91	Three months revenue would be a more than fair offer. __________________ PROMOTE OUR PUSSY AND MAKE SOME BANK! Exclusive sites, monthly live shows and more! Audrey Hollander & Nick Manning's official site, Porn 1820 and more! Coming soon: Cassandra Cruz's official site Eva Cash*

03-22-2014, 01:56 PM	#8
Nice_Nick So Fucking Banned Industry Role: Join Date: Mar 2014 Posts: 865	No, I think you are reading it right. I didn't see the second post.

03-22-2014, 03:09 PM	#9
Ferus Bye - Left to do stuff Industry Role: Join Date: Feb 2013 Posts: 4,108	I would call that pocket-change, rather than business

03-23-2014, 06:04 AM	#13
Lichen Tube Master Industry Role: Join Date: May 2004 Posts: 1,640	don't bother with it too much trouble for so little cash

03-23-2014, 07:15 AM	#14
12clicks Too lazy to set a custom title Industry Role: Join Date: Jan 2001 Location: God's right hand Posts: 19,785	Why would you pay money to work a part time job making $50 a night. You could make that as a busboy and you wouldn't have to buy in