Texas Hold'em Poker - Entertainment
Location Clearwater, Florida, United States
Asking Price Range < $250K
Gross Revenues $222000
Net Profit / Cash Flow $65000
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 2005
Number of Employees 1 - 3
Inventory 30000
Relocatable Yes
Number of Employees 1 - 3
Real Estate Owned
Training 30 days.
Reason for Sale Semi-retirement.
Description Texas Hold `Um Poker (not the actual name of the company) is an entertainment company operating in the Central and West Coast of Florida. This is a growing, successful, profitable business experiencing annual revenue growth, without advertising or sales expense. 2008 revenues were $222,000. The asking sale price is $180,000. Tax returns for 2005 - 2008 reflect consistent profits. However, the company typically receives cash (currency) from its clients for services rendered, legally leveraging the IRS tax code to minimize taxes paid by the company and owner.
Texas Hold `Um is a well conceived, mature business model offering upside opportunities for expansion, both geographic and franchising. Revenues are generated exclusively from fees paid by owners of nightclubs, private clubs and halls for the services rendered. Texas Hold `Um maintains ownership of the concept, contractual relationships, non-compete with contractors, computer, proprietary software, tables, chips, cards, etc. Events are offered seven days a week, exceeding sixty venues each week. Generally, two games are run each night at a venue, beginning around 7:00PM and concluding around midnight. Players often attend multiple games per week at various venues to accumulate points. A uniformed (shirt/logo) Texas Hold `Um contractor, is responsible for setting up tables, chips, cards, monitoring games, recording winners, collecting fees from client (club owner) and turning in results to one of two regional managers. Multiple tables are set up to accommodate all players attending an event. Players at each table deals the cards. Only chips are used - no money allowed to exchange hands anywhere around tables. Within a 100-mile radius of Tampa, Florida Texas Hold `Um dominates this market. Client retention exceeds 90%.
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