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.

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

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.

"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.

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

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

I would call that pocket-change, rather than business

Three months revenue would be a more than fair offer.

Just because it is available doesn't mean you will be able to fill it.
47 weeks of current income? You're mad.

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...

don't bother with it

too much trouble for so little cash

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