|
|
|
|
|
Table tennis academy for sale (Akron, Ohio) |
Post Reply 
|
Page 12> |
| Author | ||||
amateur 
Premier Member 
Joined: 02/29/2008 Status: Offline Points: 4682 |
 Post Options
 Thanks(0)
 Quote Reply
 Topic: Table tennis academy for sale (Akron, Ohio)Posted: 04/22/2023 at 8:42am |
|||
|
https://www.samsondubina.com/news/sale
The sale of the assets includes everything - office, pro shop, 30 ITTF Nittaku tables, 11,000 sq foot of Enlio flooring, barriers, uniforms, products, full-inventory, TV, fitness equipment, highway sign, company car, and more. |
||||
 |
||||
| Sponsored Links | ||||
|
||||
|
pongfugrasshopper
Premier Member
Joined: 03/22/2015 Location: USA Status: Online Points: 3483 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/22/2023 at 11:00am |
|||
|
Very sad to see
 |
||||
|
||||
|
tom
Platinum Member 
Joined: 11/18/2013 Location: canada Status: Offline Points: 2977 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/22/2023 at 12:07pm |
|||
|
on the surface, there is still a chance for the facilities to carry on,
|
||||
|
||||
|
lgxb
Super Member 
Joined: 09/10/2016 Location: USA Status: Offline Points: 296 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/22/2023 at 12:31pm |
|||
|
sad
|
||||
|
||||
|
rb Chieang
Beginner 
Joined: 04/20/2023 Location: Singapore Status: Offline Points: 3 |
Post Options
Thanks(1)
Quote Reply
Posted: 04/22/2023 at 1:31pm |
|||
|
I used to live in USA .
My opinion is that it is the most difficult to run a full-time table-tennis
private club just for table-tennis in North America & places like Australia etc . If you love table-tennis, the only way to even survive is to
have a multi-sport facility with other sports sharing days & facilities
with making other sports pay most of your bills such as rent or mortgage,
utilities etc.
I know, the biggest
problem with table-tennis is setup & takedown of tables unlike for sports like
badminton or pickleball. But if you can set your facility to have multiple sports
like badminton, pickleball, martial arts, gymnastics, volleyball, chess etc
etc. then you may even turn a profit. But lot of people who just are
emotionally in love with any given sport just start a club etc with no knowledge
of business ramifications & end up closing with heavy losses in an year or
two. It is not just tabletennis. Samson Dubina may still be able to do pull this off because they already have the infrastructure
which just needs some slight adjustments Edited by rb Chieang - 04/22/2023 at 1:32pm |
||||
|
||||
|
zhuangcorp7
Member 
Joined: 07/31/2021 Location: san diego Status: Offline Points: 99 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/22/2023 at 1:31pm |
|||
|
That's sad, but if it's not profitable now, how would changing to a new owner change the outcome?
|
||||
|
||||
|
maxzf9716
Member
Joined: 03/18/2023 Location: Seattle WA Status: Offline Points: 20 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/22/2023 at 2:25pm |
|||
|
Really sad. I was in Ohio State during undergraduate and heard a lot about Samson. Hope Samson continues holding table tennis events and classes.
|
||||
|
||||
|
tom
Platinum Member
Joined: 11/18/2013 Location: canada Status: Offline Points: 2977 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/22/2023 at 3:12pm |
|||
|
maybe an enthusiast with deep pockets and doesn't care if he loses a bit of money?
|
||||
|
||||
|
wilkinru
Silver Member 
Joined: 04/28/2015 Location: Las Vegas Status: Offline Points: 604 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/22/2023 at 6:59pm |
|||
You make a good point. removing 4-6 tables and adding 2-3 pickleball courts could be huge for clubs like this. Or make pickleball nights 2 days a week. I know it isn't ideal for clubs but could make a huge $$$ difference.
Edited by wilkinru - 04/22/2023 at 7:02pm |
||||
|
TB ZLF
inverted inverted |
||||
|
||||
|
tokold
Member
Joined: 08/29/2004 Location: United States Status: Offline Points: 23 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/23/2023 at 4:01am |
|||
|
How about USATT stepping in for a change?
|
||||
|
||||
|
stiltt
Assistant Admin 
Joined: 07/15/2007 Location: Location Status: Offline Points: 729 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/23/2023 at 3:26pm |
|||
|
Prolly the main reason is the rent went up unreasonably at the end of the lease. We should not open a club without owning the warehouse.
Edited by stiltt - 04/23/2023 at 3:40pm |
||||
|
||||
|
stiltt
Assistant Admin
Joined: 07/15/2007 Location: Location Status: Offline Points: 729 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/23/2023 at 3:56pm |
|||
|
Virginia Sung visiting the club a while ago:
|
||||
|
||||
|
mon22
Gold Member 
Joined: 03/05/2010 Location: United States Status: Offline Points: 1174 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/23/2023 at 10:04pm |
|||
|
Here is Central Florida Table Tennis Club, we rent space under Orlando Racket Sports.
They have 9 pickleball courts and 4 badminton courts. For table tennis: 12 tables 2 coaching tables pickleball is the only reason our $75/month fee stays low and they’re open 7 days a week. I hope they figure out a deal that keep their doors open 🙏
|
||||
|
I am a total Newb. Come at me!
|
||||
|
||||
|
koshkin
Silver Member
Joined: 10/30/2003 Location: United States Status: Offline Points: 522 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/23/2023 at 11:13pm |
|||
|
I suspect that Akron, OH is not an ideal place to have a table tennis academy in the US. It is amazing that Samson managed to pull it off for as long as he did, but the sport is just too small in the US, especially outside of CA and NY/NJ.
|
||||
|
BTY Mazunov ST
Dignics 05 |
||||
|
||||
|
NextLevel
Forum Moderator 
Joined: 12/15/2011 Location: Somewhere Good Status: Offline Points: 14617 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/23/2023 at 11:21pm |
|||
Ownership or not, most corporate property is funded with debt, and most debt is floating rate and tied to interest rates. Unless you own the property without any debt behind it, the interest payments have to be made one way or another.
|
||||
|
I like putting heavy topspin on the ball...
Stiga Cybershape Carbon FH: GT BH: GT Lumberjack TT, not for lovers of beautiful strokes. No time to train... |
||||
|
||||
|
pgpg
Gold Member
Joined: 11/18/2013 Location: United States Status: Offline Points: 1300 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/24/2023 at 9:45am |
|||
This. In the end I suspect customer base was simply not there. Looks like you either need to be like ICC or Westchester TTC.
|
||||
|
USATT: ~1810
Butterfly Defense Alpha ST - H3 Neo - Cloud&Fog OX |
||||
|
||||
|
ThePongProfessor
Forum Moderator
Joined: 11/17/2014 Location: United States Status: Offline Points: 1524 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/24/2023 at 12:25pm |
|||
Are fixed rate mortgages not a thing in corporate real estate? Genuinely curious.
|
||||
|
||||
|
qpskfec
Silver Member
Joined: 07/28/2011 Status: Offline Points: 507 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/24/2023 at 1:42pm |
|||
|
Interest rates can be fixed, but commercial lenders typically do much shorter terms than the typical 30 year fixed mortgage on residential property.
If the owner had a 10 year loan that is due this year, then the interest rate on the new loan will likely double. There's also property tax. Don't know about Samson's city, but state and local governments usually reassess property values periodically to get more tax revenue. Voters in cities also vote to tax themselves to fund schools, police, etc. You can't predict that some years in the future a parcel tax gets passed. Some good ideas above about turning the place in a multi sport facility. Maybe it will live on because an indoor place to play pickleball, etc. in the Ohio winter sounds attractive. If I was the landlord, I would be contacting experienced sports facility operators with this pitch. |
||||
|
||||
|
NextLevel
Forum Moderator
Joined: 12/15/2011 Location: Somewhere Good Status: Offline Points: 14617 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/24/2023 at 2:57pm |
|||
No, not really. It's not the best way for them to make money given how the market is inflationary and the transient nature of businesses - most loans have 5 year periods after which terms updated.
|
||||
|
I like putting heavy topspin on the ball...
Stiga Cybershape Carbon FH: GT BH: GT Lumberjack TT, not for lovers of beautiful strokes. No time to train... |
||||
|
||||
|
BRS
Gold Member
Joined: 05/08/2013 Location: United States Status: Offline Points: 1550 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/25/2023 at 4:41am |
|||
30 year fixed mortgages exist only because of government support. Otherwise it's a bad deal for the lender because it has negative convexity. If rates go down everyone refinances and your now high-yielding debt gets repaid and vanishes. When rates rise nobody moves and you are stuck with below-market yields for 30 years.
|
||||
|
||||
|
NextLevel
Forum Moderator
Joined: 12/15/2011 Location: Somewhere Good Status: Offline Points: 14617 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/25/2023 at 9:11am |
|||
Agreed, though the flip side is that the interest rates are higher to compensate at the time of contracting. But if you get a low fixed interest rate in a low interest rate environment, then I 100% agree with what you wrote. Everything is relative though and while this isn't a high interest rate environment by historical standards, it is going to drive a lot of people out of business.
Edited by NextLevel - 04/25/2023 at 9:16am |
||||
|
I like putting heavy topspin on the ball...
Stiga Cybershape Carbon FH: GT BH: GT Lumberjack TT, not for lovers of beautiful strokes. No time to train... |
||||
|
||||
|
tom
Platinum Member
Joined: 11/18/2013 Location: canada Status: Offline Points: 2977 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/25/2023 at 9:14am |
|||
|
||||
|
||||
|
cole_ely
Premier Member
Joined: 03/16/2005 Location: United States Status: Offline Points: 6854 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/25/2023 at 9:26am |
|||
|
The explanation given makes sense to me. People want to be able to pay off their loans early so you lose on refinance if the market does go down. If it goes up you're left holding the bag.
|
||||
|
Wavestone St with Illumina 1.9r, defender1.7b
Please let me know if I can be of assistance. |
||||
|
||||
|
tom
Platinum Member
Joined: 11/18/2013 Location: canada Status: Offline Points: 2977 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/25/2023 at 10:22am |
|||
|
||||
|
||||
|
tom
Platinum Member
Joined: 11/18/2013 Location: canada Status: Offline Points: 2977 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/25/2023 at 10:28am |
|||
Desjardins Bank Commercial MortgagesDesjardins Bank offers commercial mortgages for both purchases and new constructions with a mortgage term of 1 to 10 years and an amortization of up to 20 years. Residential rental properties can have an amortization of up to 25 years. Fixed, variable, and combination rates are offered. Desjardins is the largest credit union in North America, you can learn more about them in our article about Desjardins mortgage rates and reviews. |
||||
|
||||
|
NextLevel
Forum Moderator
Joined: 12/15/2011 Location: Somewhere Good Status: Offline Points: 14617 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/25/2023 at 10:34am |
|||
There is a points payment for refinancing, just as there is a higher interest rate for longer term fixed. There are tradeoffs that you can compensate for under specific circumstances.
|
||||
|
I like putting heavy topspin on the ball...
Stiga Cybershape Carbon FH: GT BH: GT Lumberjack TT, not for lovers of beautiful strokes. No time to train... |
||||
|
||||
|
liulin04
Premier Member
Joined: 10/20/2003 Location: US Status: Offline Points: 6300 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/26/2023 at 2:32am |
|||
Right? Exactly! Even the new owner will not be immune to his reasons of "inflation". I say it's more like the drop of enrolled students. Without kids attending, revenues will drop for sure.
|
||||
|
||||
|
Simon_plays
Gold Member
Joined: 05/02/2015 Location: Vietnam Status: Offline Points: 1058 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/26/2023 at 7:57am |
|||
|
If a player/ coach of Samson's profile can't make it work it is difficult to think how anyone else would have a better chance, apart from if they don't mind operating at a loss.
Hopefully a new owner who doesn't mind operating a loss can be found.
|
||||
|
||||
|
Lightspin
Super Member
Joined: 07/11/2018 Location: USA Status: Offline Points: 428 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/26/2023 at 10:06am |
|||
|
Samson is one of the absolute best coaches in the country. His club is also one of the best clubs. If this place cannot turn a profit, it is a sad state of affairs in the world of table tennis.
|
||||
|
||||
|
wilkinru
Silver Member
Joined: 04/28/2015 Location: Las Vegas Status: Offline Points: 604 |
Post Options
Thanks(0)
Quote Reply
Posted: 04/26/2023 at 3:44pm |
|||
|
Business leases are crazy things. After the first 5 year teaser price they want to jack up the lease considerably, at least in my area. If a business did not grow considerably it just can't work out. Even if the business does grow, it may still be worth moving. Businesses move all of the time because of this. Just hop around every 5 years to get reasonable rates. I think this club should just move to another empty store. Plenty of them all over the country. Just think of all of the sears and kmarts, bed bath and beyonds that are empty.
|
||||
|
TB ZLF
inverted inverted |
||||
|
||||
|
Post Reply
|
Page 12> |
Tweet
|
| Forum Jump | Forum Permissions You cannot post new topics in this forum You cannot reply to topics in this forum You cannot delete your posts in this forum You cannot edit your posts in this forum You cannot create polls in this forum You cannot vote in polls in this forum |
MyTableTennis.NET is the trading name of Alex Table Tennis Ltd. |
Topic Options
rb Chieang wrote: