Wow. Keep up the great work. :yourock:
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Free registration at the forum removes this block.Valuations of companies are a multiple of annual revenue (from 2 to 5X). Factor in assets and liabilities.
If the investor is sold on the idea and future execution, you can probably sell him on the potential of the business and build a valuation around that potential.
I dont know what multiples are used for clothing/music company.
This is just the music side (for now). Hmmm. OK, So if I say I project $1 million in sales this first year, I can times that by 2X and base the company's value on that?
I'm divulging some real private info, but hey maybe it could help someone. After organizing my life and debts and assessment. My business/Personal debt combined is about 115k. I met with two bankruptcy lawyers and erasing that debt looks really appealling for a fresh start. But a good part of me wants to just negociate that debt and pay it off next year. If I'm gonna make the 1.2 million like I say I am, then I shouldn't have any problem paying that debt off. right? Doing a BK is nice, but it can tarnish my score for 7 years!! Even though Entrepreneurs go into BK all the time I think I want to hold on to that wildcard in case I really get into some deep shit! lol. Naw, thats not the right thinking pattern. I don't want to ever use that card. I'll claw my way back into freedom "Richest Man in Babylon" style. I'll call and see what I can reduce the debt down to and pay it off every month based on a percentage of my income every month. Lets go.
Hi Caesarion and all on this board. This is my first post here and I am hoping that I can help some, as well as be helped.
Caesarion, I have a business idea that may actually fit in well with and perhaps compliment your plans. The idea is a business I owned a few years back that was actually inexpensive to start, and took off like a weed once word got out. At first it will not produce the revenue you're asking for, but with vision and a reasonable timeframe, it can easily produce a comfortable income, with franchise potential, and minimal involvement if you choose. The business idea... A rehearsal hall for bands and musicians. When it was all said and done with me, I had built up to an 18,000+ sq. ft. industrially zoned (key) building, for which I then partitioned 45 lockout rooms that I leased out to bands with 6 month lease commitments with MONTHLY payments, first, last and security deposits. 24/7/365 access with gameroom, juke box with 'their' cd's, and vending. The reasons why this potentially could help is that first off, your name gets out there with the local musician community which gets your name tons of free advertisement, along with local magazine interviews, back stage passes, and, big name musicians will use your facilities on occasion. In the rehearsal halls, you could sell your merchandise, and once you cookie cut the idea and spread out to other cities, your influence and products would be introduced there as well.
That is a pretty cool idea. You might think about having the ability to record there as well.
Hi Caesarion and all on this board. This is my first post here and I am hoping that I can help some, as well as be helped.
Caesarion, I have a business idea that may actually fit in well with and perhaps compliment your plans. The idea is a business I owned a few years back that was actually inexpensive to start, and took off like a weed once word got out. At first it will not produce the revenue you're asking for, but with vision and a reasonable timeframe, it can easily produce a comfortable income, with franchise potential, and minimal involvement if you choose. The business idea... A rehearsal hall for bands and musicians. When it was all said and done with me, I had built up to an 18,000+ sq. ft. industrially zoned (key) building, for which I then partitioned 45 lockout rooms that I leased out to bands with 6 month lease commitments with MONTHLY payments, first, last and security deposits. 24/7/365 access with gameroom, juke box with 'their' cd's, and vending. The reasons why this potentially could help is that first off, your name gets out there with the local musician community which gets your name tons of free advertisement, along with local magazine interviews, back stage passes, and, big name musicians will use your facilities on occasion. In the rehearsal halls, you could sell your merchandise, and once you cookie cut the idea and spread out to other cities, your influence and products would be introduced there as well.
Actually, I can guarantee that someone with existing studio/video ambitions will want to rent space so that they can set up shop and get your tenants to use them which is why I had 3 premium studios built in the facility with sound booths. See for me, my goal was to rent space and not have to do much except collect the checks, and make friends. Something else that I didn't mention here is that in the vending machines, I also sold things like guitar strings, picks, cords, drum sticks and drum keys. And for security, I had a 2 keyed and key code entrance and 20 camera surveillance with infrared. This whole experience for me was a blast, and the talent that was developed because I enabled was quite the reward in itself.
Actually, I can guarantee that someone with existing studio/video ambitions will want to rent space so that they can set up shop and get your tenants to use them which is why I had 3 premium studios built in the facility with sound booths. See for me, my goal was to rent space and not have to do much except collect the checks, and make friends. Something else that I didn't mention here is that in the vending machines, I also sold things like guitar strings, picks, cords, drum sticks and drum keys. And for security, I had a 2 keyed and key code entrance and 20 camera surveillance with infrared. This whole experience for me was a blast, and the talent that was developed because I enabled was quite the reward in itself.
Spectacular idea!!!!
Great stuff- and thanks for sharing this.
We had a neighbor have a band practice last week, and I had the cops shut them down.
As I told the cops, I hated to do it-- b/c they were really good!
But business is business-- I have to pay my bills, and they were ticking off the guests (it was medium loud-- they really were trying to keep it down, had all the windows closed, etc).
I said to my wife, "If we had some empty space right now, I'd let these guys use it in exchange for them playing a couple of gigs". It would have removed the noise problem, given them a place to practice, and all of us would have been happy. A classic win-win. Only problem was, I didn't have any spare space.
Great idea.
Rep speed. No more parking for you!
-Russ H.
Is this a business that you still own? As others have stated, it's a great idea. If you're no longer doing it, I'd be curious to know why you decided to step away. To me, it is a great way to earn income, almost passive income if your real goal is simply renting out the space and collecting the rent, while doing something you have a passion for.
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