I am opening my own Hookah Lounge Cafe.?

  • Thread starter Thread starter MadMojo
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MadMojo

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hi,
I am opening my own hookah club cafe in Lodi, NJ.
The owner is asking for $60,000 with a 7 year lease. Rent a month is 1200.
A little above average location, my own parking lot.

Is this expensive?
The stuff that is in the store is nowhere near worth 20 grand.
 
You're OPENING a club or you're BUYING a club? If buying, you already seem to have surmised that it's a rip off. If the books show that the business is clearing a net profit of 60k per year, it would be worth the price. Otherwise, I'd pass. You can spend 20-30K to finish out your own retail space and start a new one with a fresh lease. Build up the business and margins, then sell out yourself. WHY pay his inflated price just because it's already there. Obviously he wants to sell for a reason.
 
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