PinballsRus Sydney have bought BUMPER Amusements Melbourne

[Mr Tilt]

Good sources tell me bumper amusements has sold business to Pinball R US of Sydney

[ajlaird]

Pretty big news if it is kosher.

Well, Mark did say something big was happening in terms of one company getting out of the market.

Time will tell!

[Caveoftreasures]

if its true, someone has just bought a tin mine, and probably paid gold mine prices.

if it is true 

[Mr Tilt]

Bumper owns the building
$700k was asking price
$2500 rent pw + outgoings + wages for staff etc

Gotta a sell a few machines to keep operation going but new owner is a millionaire

[Mango]

If they own the building why would there be rent?

[elkor-alish]

If they own the building why would there be rent?

Maybe Bumper sold the business but not the building

[Mr Tilt]

thats right they will lease to new owner

[beaky]

what year did bumper action open? they must have bought the building back in the hey day of pinball when real estate was cheap

[bwodie]

cool guys at pinball r US, interesting news!

[Strangeways]

An interesting development. Finally Bumper has a buyer after trying to sell up for "how many" years ? I wonder if they keep the name or change it to be in-line with the "Pinballs-r-us" name.

Great scoop !

[Prince]

Perhaps next years Expo after party will be based in Melbourne?

[GORGAR 1]

Wow maybe a p r us in every state?good 4 pinball maybe

[Caveoftreasures]

no one ever sells a profitable business(generally speaking.lol for those with dictionary's) People only sell business's which are losing money or just breaking even. if a business is making money, and the owner is sick of working, they usually install a manager to run things, and the owner sits at home and collects the profits.

it begs the question, why bother buying a business which is not making money.  

my father has been a real estate agent for close to 50 years. I have seen it time n time again. people pay 700 grand like in this case, and u get absolutely nothing for your money, unless there is say 500 grands worth of stock, and u have only paid a few hundred grand for the business.   still, it can be a very costly exercise.

I hope the fellow makes money, but he has alot of work to do to get people to send their money his way, when alot of us already have great relationships with our chosen sellers already. it will be interesting to see what happens.

[TSPP]

no one ever sells a profitable business. people only sell business's which are losing money or just breaking even. if a business is making money, and the owner is sick of working, they usually install a manager to run things, and the owner sits at home and collects the profits.

Not sure if this is accurate for me. I was offered to sell my buisness which WAS making money by a competitor. It does happen, companies do it to gain a larger slice of the pie and to remove a competitor.

[Chad]

Code: [Select]

no one ever sells a profitable business. people only sell business's which are losing money or just breaking even. if a business is making money, and the owner is sick of working, they usually install a manager to run things, and the owner sits at home and collects the profits.
lots of profitable businesses get sold, I had a mate who use to buy run down business cheap & make them profitable & then sell them. he was turning them over over every 2-4 years, and as TSPP said people buy them to remove the competition.