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Table tennis academy for sale (Akron, Ohio)
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cole_ely View Drop Down
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Points: 6854 		Post Options Post Options   Thanks (0) Thanks(0)   Quote cole_ely Quote  Post ReplyReply Direct Link To This Post Posted: 04/26/2023 at 5:37pm
Originally posted by tom tom wrote:

Originally posted by cole_ely cole_ely wrote:

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.
by that logic no fixed rates will be available regardless of the length of the mortgage.  In Canada you cannot get out your fixed term mortgage without penalty

Again that was mentioned as a result of government programs, which also makes sense to me 
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Please let me know if I can be of assistance.
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liulin04 View Drop Down
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Points: 6300 		Post Options Post Options   Thanks (0) Thanks(0)   Quote liulin04 Quote  Post ReplyReply Direct Link To This Post Posted: 04/29/2023 at 3:15am
or maybe just buy a warehouse and convert it to tt full time.  Just like my club, Pleasanton TT.  The owner bought and own a quad-unit warehouse.  Converted 1 to full-time table tennis which is the current club, the other 3 rented out to sports-related, one for baseball, one for weight loss, and another also for tt.  I think if Samson can pool together a large amount of money and actually buy up a multi-unit warehouse, then he not only can lease out the other for rental income, and he can supplement the rest from his own club.
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Cities often provide tennis courts, golf courses and gyms for different sports.  Get them to provide a facility for table tennis.  Stress how good it is for seniors and children. 
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Keep in mind that Samson never opened his center on Sundays due to religious reasons. A new owner could potentially at least add an extra day to the roster which could help. I’ve been there when he’s had 100 players in the league and the summer camps are very successful. I think anyone with the ability to do some financial analysis could turn it around with some simple changes honestly.
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"There is always somehting better to do with real estate than a table tennis club." Roscoe Locke, circa 2010. Eating with tt buddies after playing is fun and I remember I had a good laugh at that statement full of table tennis financial wisdom. LOL

It really seems table tennis is a high maintenance business due to the steep learning curve while the solid, easier to learn money making activity is pickleball, that has been enjoying an incredible growth lately. Triangle club saved the business adding badminton. Adding those 2 other sports sports to Akron's club and opening on Sundays (I was shocked reading that it was not) should result in a great money making machine for accute business(wo)men. Yes...easier said than done.
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ClimbK2 View Drop Down
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Good luck.  

Edited by ClimbK2 - 05/12/2023 at 11:58pm
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ClimbK2 View Drop Down
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His business would make more sense in a larger city.  Perhaps Pittsburgh, Cleveland, or Detroit, and some of his present students would make the drive.    
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The problem with a bigger city is the rent becomes much more expensive. 
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link to "business plan" pitch for potential buyers

www.samsondubina.com/sites/default/files/RegistrationForms/business%20plan%202023%20-%20Samson%20Dubina%20TT%20Academy.pdf

They want a buyer to pay $296,000 for a business that generates $445,000 in yearly revenue. Ridiculous asking price.

Projection for new owner is that sales will double to $1 million in two years.

Purchase cost includes inventory of 30 tables, flooring, website, etc. valued at $156,000. This is a wildly inflated number. 30 used tables would go for about $800-$1000 each, so the tables are worth about $25,000 or so. WTF is worth over $100,000 at a ping pong club after the tables? Used gym equipment and lockers? It looks like they are valuing inventory at purchase price instead of used goods.

A slide is devoted to the fact they get 80 million social media views. No investor gives a crap about this.

These are all big red flags for any potential buyer.



Edited by qpskfec - 05/15/2023 at 7:41pm
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PingPongPom View Drop Down
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I think social media views is probably realistically more in the 1-2 million range at best. I believe the majority of views in that exposure count are estimates attributed to highway signs and physical signage with actual human traffic as included in the information as part of the breakdown of where the views come from.
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tom View Drop Down
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what is a usable number for annual cash flow to see what would be a reasonable price?
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Points: 604 		Post Options Post Options   Thanks (0) Thanks(0)   Quote wilkinru Quote  Post ReplyReply Direct Link To This Post Posted: 05/19/2023 at 5:11pm
I'd like to see the membership numbers. The cheapest membership is only $27 a month which is quite a deal.

If I owned the club I'd make that $40-50 right away and make sure a daily drop in is $10.

The most expensive tiers of membership are quite interesting...I would definitely juggle things around there.

Bottom line is the costs are too high to run it. It's too big. Half that size might work.

It needs to be moved to a smaller place (and closer to a city) or it needs to go out of business and then someone can grab it and rebuild it as I bet the flooring won't be going anywhere.


Edited by wilkinru - 05/19/2023 at 5:13pm
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