Guest Posted February 9, 2003 Report Share Posted February 9, 2003 "Interesting post! I'm curious why you used a multiple of only 2.5 for an estimate of net profits? In the the non-bar world, such a multiple is very very low and might take place only when a business is posting extraordinary profit, perhaps owing to a one-time asset sale. If you know of any non-bar businesses for sale with such an asking price, I'd be very interested!" Actually we have three Go Go's on our books. One is selling at 1.6 times profit, another at 2.33 times earnings. Both are quite large and have been ranked as the best in the past year by several posters. The third is small (just 20 girls) and being offered at 1.96 times earnings. We tell sellers what the rules of thumbs are. Depending on how motivated they are to sell. They decide on the selling price it should be listed at. A service I follow, the average business sold in 2002 at 2.42 times earnings (Sellers Discretionary Cash Flow) We just had an individual happily acquire two Irish Pubs in Phuket through our company this past week. The selling price was 2.7 times earnings. The sale was 50 million Baht. First class books maintained by PricewaterhouseCoopers. Non-bar businesses with a multiple as low as this? We have 228 of them! E-mail me and I'll give you the details on any of the businesses. Link to comment Share on other sites More sharing options...
Guest Posted February 9, 2003 Report Share Posted February 9, 2003 "I presume that you're taking into the account the vast uncertainties inherent in the bar business. One might have a 40% return p.a. but if the bar is shut by the police in a year's time because one didn't know who to pay off properly then that wouldn't do anyone much good. As such, it would seem that the most potential for sale would be to a current bar owner- someone that knows the ropes and can wring the most potential out the place." Actually thats why you buy a existing business, so you don't have to know the ropes on day 1. We always stress the Seller has to train for a month. Sometimes it's 3 months or longer. Buying a existing business is so much better than starting one up. Link to comment Share on other sites More sharing options...
gummigut Posted February 9, 2003 Report Share Posted February 9, 2003 "when i tell you something you can take it straight away to the bank" This is pure crap. I went to bangkok bank, SCB, HSBC, citibank, farmers, TMB, etc... and they ALL laughed me out of their branches. I couldn't get one satang for any of the words that you told me here. They said Papa who? Papa bear? What, and you are goldilocks? Gahhhhh <<burp>> Link to comment Share on other sites More sharing options...
edenpapa@ksc.th.com Posted February 9, 2003 Report Share Posted February 9, 2003 Says gummigut: "when i tell you something you can take it straight away to the bank" This is pure crap. I went to bangkok bank, SCB, HSBC, citibank, farmers, TMB, etc... and they ALL laughed me out of their branches. I couldn't get one satang for any of the words that you told me here. They said Papa who? Papa bear? What, and you are goldilocks? Gahhhhh <<burp>> 555 mr gummigut being french and having an approximative english if i don't mistake this expression means that what you are saying is true if you know any bank who give you money on that let me know and i will be there at opening time i reconfirm that : i do not have any business with Santos who is just a friend i have nothing to do with the short time hotel opening next door to our club and thats it see you marc Link to comment Share on other sites More sharing options...
Max Posted February 10, 2003 Report Share Posted February 10, 2003 Says edenpapa@ksc.th.com: i reconfirm that : i do not have any business with Santos who is just a friend i have nothing to do with the short time hotel opening next door to our club and thats it Re-reconfirmed :-) The bamboo-telegraph qualities of this board are astounding, aren't they? Link to comment Share on other sites More sharing options...
edenpapa@ksc.th.com Posted February 10, 2003 Report Share Posted February 10, 2003 Says Max: Says [Email:edenpapa@ksc.th.com] [/Email] i reconfirm that : i do not have any business with Santos who is just a friend i have nothing to do with the short time hotel opening next door to our club and thats it Re-reconfirmed :-) The bamboo-telegraph qualities of this board are astounding, aren't they? my friend when you are selling your business and when you take an arrangement with the eventual buyer to stay up to august 2006 you don't appreciate posts not reflecting the truth i don't need the guy who is now interested in buying our place to get wrong informations if i have to post it a third time to make it really clear , i will do it see you marc Link to comment Share on other sites More sharing options...
khwaimaisabai Posted February 11, 2003 Report Share Posted February 11, 2003 Hi papa, Do all French people have no sense of humour? Only joking - seriously. BTW I have enjoyed the Eden experience three times now - I should call in again. Khwai Link to comment Share on other sites More sharing options...
edenpapa@ksc.th.com Posted February 11, 2003 Report Share Posted February 11, 2003 hi Kwai sorry , but i couldn't catch the humour of Gummigut's post ? when i give my word to somebody wanted to buy our club ( to stay up to august 2006 ) i have to make it very clear that all the rumors concerning any business with Santos are fakes that's why it was reconfirmed see you soon marc Link to comment Share on other sites More sharing options...
Sarisin Posted February 11, 2003 Author Report Share Posted February 11, 2003 Says edenpapa@ksc.th.com: hi Kwai when i give my word to somebody wanted to buy our club ( to stay up to august 2006 ) i have to make it very clear that all the rumors concerning any business with Santos are fakes that's why it was reconfirmed see you soon marc Marc, I guess an apology is in order as I seem to be a nasty rumor-monger. I did not mention anything about the sale of Eden Club, and, frankly, there is no other man in the world that could do as fine a job with the place as you have. Santos and I were joking around after you left, and, well, you know him. He did NOT say anything about buying Eden Club, by the way. As to his selling Titty Twister, I don't think he was serious. However, he told me if someone was to offer him his asking price of 12 - 13 million, he would be a fool to not take it. Of course, if he does sell TT he realizes he will receive a mighty fine ass-kickin' from me. Really, that amount of money for a bar that size (especially in these 'uncertain' times) is almost laughable. But, hey, if someone wants to give me $1,000 for my favorite Timex watch, I would probably go for that. Link to comment Share on other sites More sharing options...
edenpapa@ksc.th.com Posted February 11, 2003 Report Share Posted February 11, 2003 hi Sarisin thank you for understanding my problem i just gave my word 2 weeks ago to stay in this club one of my partner called me and tell me ( joking ) : i heard you are living us ? if the buyer hear this rumor , what will he think of me ??? if i wasn't in this selling situation i wouldn't even answer this post thank you again see you marc Link to comment Share on other sites More sharing options...
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