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Honestly, I just bought it based on what they supposedly took in (that year). It was about $30K more than I purchased it for. By this time next year the place will be worth 3 times what I paid. Here's a tip for ya. The real reason I bought it was because I walked into an empty place baron of any real thought or effort and they were taking in 80 people/day. I immediately imagined an infinate number of possibilities that could triple the traffic while eliminating the "filler" traffic, mostly the young scavenger teens with no money. If you buy a place that is fully done up it'll be more difficult (and expensive) to change the atmosphere and the value will only make a lateral move. $100 in paint can raise the value of an empty place by the thousands. Here's another tip for ya. Don't go after the teens. Go after their parents. They have the money. In a resession the first to get cut off is the kids. If you win them over then tell them about your "student special" (just make something up) to get the teen. If the parent tans there should be no problems. Last tip. When you write your business plan estimate your costs HIGH (atleast 30% over probable costs or last year's estimates) and your revenues real LOW. As in it's going to snow 360 days next year. I normally don't give out any business info but most of the people on this board don't pay attention to my posts anyway so it's cool.
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