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Let's Make a Deal!

Money-CountingThe most important items to consider when selling your club—or buying one!

For any business owners, but even more so for club owners in our particular industry, the sale of the business will likely be one of the largest events they encounter during their life.  Accordingly, our hypothetical club owner needs to take the time to understand this decision process with the guidance of his or her CPA, or even a tax attorney who has a lot of experience with business sales to lower that tax liability and maximize the profit on this sale.  We are going to take quick peek at the most obvious and common types of deal structures that a business owner will use when selling their club. And let’s be really clear here: Read this, then holler at your CPA, or get a good one, and get a good transaction attorney to represent your side of the deal.

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Selling your club?

winston-new-1_Page_1Here’s five “bad ideas” you should avoid at all costs!

The most obvious, common and pertinent question a business broker gets asked on a regular basis is, “How much is my club really worth?” Here are some “bad” issues you need to consider. 


Bad idea #1: The “one-times” rule.

I continually get hit with this line, or variations of it, all the time: “We are only going to pay one-times gross sales!” Consider this little scenario:
Club A                            Club B
Gross Sales:     $1,000,000              $1,000,000    
Net Earnings:  $200,000                      $375,000
Asking Price:    $1,000,000              $1,000,000

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There’s more than one way

ForSalesmto sell your club

Adult nightclub sales have come a long way from “handshake deals.” Realtor and club broker Winston Hines explains several modern ways for buyers and sellers to both walk away satisfied.

Last issue we talked about curb appeal as your first shot at making a good impression on your potential buyer.  In this article, we are going to zoom forward just a bit to take you right to that closing table and that almighty check.  (We’ll bounce back to some other important considerations in later issues).

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