Need Opinions

[ColKlink]

Hey All, im writting this post tonight to ask all of you your opinion. Im new to the nightclub industry but have been doin my research about it, Im looking to open one up and think I have found a spot that I really really like. The place however has had 2 owners w/ in the past 5 or 6 years, currently the place is closed but the person that owns the property currently is selling the place fully furnished for 1.8 million. Just to give you a little insight about the property its not really huge but not small either, its located on the Illinois/ Indiana border in on a highly traveled state route (Rt. 30). The town that its is located in is currently in the process of having the HoChunk Indian Nation come in and open up a Casino like the one in Wisconsin Dells. Im going friday August 27th, w/ my realator and the owner to look at the place, hopefully i will have more info by then. If you all have any ideas, imput, opinions, please feel free to respond back.

Thanks in advance
Jay

[grachuss]

So let me get this straight your new to the night club industry and your going to put your ass on the line for 1.8 million. Seeing as how this place has had two owners in the past five years should raise some red flags. I would suggest working in the industry for a lenghty period of time doing every job you can from doorman to manager. But if your dead set on this you should start trying to find experianced managers to help run the club and show you how to as well. I would for sure go with option number one though.

[DJOMNI]

buy the building do what you can with it as it is..with a little bit of decorating..make enough money off of it just to pay the mortgage at least...wait till that casino opens up and brings in the boom with it...then turn around and sell that spot and make yourself a cool profit...alternately buy any cheap commercial zoned land you can near the proposed site of the casino and make a killing when other casinos want a piece of the action...or companies or other retail developments...then open your club

[ministry]

why on earth would you pay that $ on a closed business ! and to top it off there is a casino coming to town ! the casino will be a black hole sucking all the cash into it for awhile. if you have that kind of capitol why not put a club in the casino ? this way they will come to you and you will have a better chance of making it against the casino. just my opinion. mike

[sully]

If you're new the business, you should hire a consultant. This can compensate for your lack of industry experience, but the final decision wil be your own.

Good luck!

Sully
www.coolbars.com/forum

[ca. club owner]

Listen the people here have given some dam good advice, espically the 1st guy. Thats alot of cash to put on the line for a place that is closed. I mean why did they close? A Lot of times it was location, location, location... yea the highway gets alot of traffic. But are there any people that live near the place? An the building might cost 1.8. But it can easily run you another 2 to 500K in design. Unless you are just going to dust off the stuff in there an open up.. All the research in the world is good. But dont really do as good as the real thing. Its like reading about building motors. You can say anything, but when you pop the hood its a different story...

I think it great you are interested in opening a club, its the best biz. in the world. Unless you have that type of capital on hand. Its going to be a real monster to get someone to fund that, an with not alot of EXP. in the biz. that will hurt you when it comes down to getting that check.. But on the other hand if you do have the cash. Save it, buy into a club that is kinda on the rocks for a small piece of equity an work there an learn the ins an outs. On how places are ran. An while there you can make sure its the thing for you. I am not telling you not to open a club. Just get a lil exp. under your belt before you put that type of capital on the line. But like someone said before the decision is up to you... good luck with your project.. If you have any other questions look me up.