Tardnols, bro

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Crabby
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Tardnols, bro

#1 Unread postby Crabby » Sun Feb 10, 2019 9:29 pm

I am putting in a bid on the Lyme Tavern. They are asking $1.6m for the bar and restaurant. That's ridiculous in my opinion. I am planning to offer 1.1. But I want to know what the typical metric is. Is it 3x net annual profit? 5x?

Thanks, bro. Appreciate any info you can offer.

prizm
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Re: Tardnols, bro

#2 Unread postby prizm » Sun Feb 10, 2019 9:39 pm

how fucking rich are you?
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datts
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Re: Tardnols, bro

#3 Unread postby datts » Sun Feb 10, 2019 9:43 pm

Jesus, throwing over one mil at a shitty bar, lol
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Crabby
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Re: Tardnols, bro

#4 Unread postby Crabby » Sun Feb 10, 2019 9:52 pm

It's the only bar within a three mile radius, on the ocean (no competition, etc.) No additional zoning laws for competition to arrive and move in.

That's why I want Phats advice on a price.

Right off I-95. Rocky Neck exit.

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Re: Tardnols, bro

#5 Unread postby Mike16v » Sun Feb 10, 2019 10:20 pm

That place seems bleak. Not really on the ocean either
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Re: Tardnols, bro

#6 Unread postby phatnols » Sun Feb 10, 2019 10:38 pm

yeah it needs to be a deck bar
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PhreenyPhan
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Re: Tardnols, bro

#7 Unread postby PhreenyPhan » Sun Feb 10, 2019 10:48 pm

It’s usually based on revenue, not profit
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Skeeter
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Re: Tardnols, bro

#8 Unread postby Skeeter » Mon Feb 11, 2019 11:02 am

If we could all drink there for free for life you should definitely buy it.

It.

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Crabby
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Re: Tardnols, bro

#9 Unread postby Crabby » Mon Feb 11, 2019 11:55 am

My goal would be to tear it down after constructing a new building behind it with a roof deck.

What is the typical sale price valuation, 3-5 x revenue? Is that about correct?

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Re: Tardnols, bro

#10 Unread postby PhreenyPhan » Mon Feb 11, 2019 1:39 pm

I've heard 5 times. It depends, of course
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Crabby
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Re: Tardnols, bro

#11 Unread postby Crabby » Mon Feb 11, 2019 9:07 pm

Thanks, Prof. I appreciate that info. That's very useful and kind. Thanks.

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Re: Tardnols, bro

#12 Unread postby eggs » Mon Feb 11, 2019 11:56 pm

Skeeter wrote:If we could all drink there for free for life you should definitely buy it.

It.





i concur