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  1. #11

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    Quote Originally Posted by John Bartley
    I know .. not much sentimentality or emotion here ...
    If I register today for a couple of your future workshops, will you give me a discount?

  2. #12
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    Quote Originally Posted by BrianShaw
    If I register today for a couple of your future workshops, will you give me a discount?
    Did I mention the lack of sympathy also ??

  3. #13

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    The asking price truely is absurd.

  4. #14
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    Quote Originally Posted by Robert Budding
    The asking price truely is absurd.
    Robert you mean you wouldn't buy yourself a full time job for only 4+ million...? Most of us could live quite high just on the interest and have enough for a new lens and a roll or two of re branded film!

  5. #15
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    Quote Originally Posted by Robert Budding
    The asking price truely is absurd.
    Actually if they are grossing 5 million a year as stated, and have any kind of reasonable profit margin it is about right amount for a starting point. Books and projections would have to be looked at for a total take on the asking price (which would probably not be the selling price)

  6. #16
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    I agree with Jason that the asking price is probably in the ballpark. What I don't understand is why they want so little for the real estate. Given it's prime location overlooking Rockport harbor, I would think they could sell Union Hall to a developer for condo conversions for more than they are asking for everything.

    That said, I'm not sure that a "for profit" photography workshop program is destined for great success in today's market. I don't know what the legalities of converting it to "not for profit" status would be - I'm sure the State of Maine would have some concerns about that.

    But I agree that it would be a shame to see it go away.
    Louie

  7. #17
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    It's all a little bit perplexing. The real estate is worth the asking price alone. But when you buy the "business" don't you get the enormous debt, too? Who wants that?

    Not to knock you guys who have been there, but most Maineiacs have always thought of it as an overpriced summer retreat for dilatants... like most of our coast line which is basically occupied territory we never get to see.

  8. #18

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    Quote Originally Posted by Troy
    ... like most of our coast line which is basically occupied territory we never get to see.
    Ha... have you seen the Maine Department of Transportation (I think that's the agencies name) study of Route 1 usage (reported in the recent issue of Down East... or maybe the prior month)? They were measuring who is using Route 1 in Maine to confirm or deny the rumor that it's mostly tourists in the summer. The study appears to have revealed that this rumor is only true in Camden. That leaves an awful lot of coast for the locals, doesn't it?

  9. #19
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    Quote Originally Posted by John Bartley
    Hmmm ... hate to be the wet blanket, but .... he's asking $4,ooo,ooo.oo for the business? Or did I read this wrong? He only wants $7oo,ooo.oo for the real estate? And he reports that in recent years he's seen revenues drop, enrollment at 1/2 and has had to lay off staff? Am I the only one who sees that if no-one buys these there will be an opening in the market place in a year or two for a start-up business of the same kind because he's closed? And when that happens, the "names" of the businesses will be available for pennies on the dollar of todays asking price? If it was me, I'd buy the real estate at the best possible price, wait until the business closes and then make an offer for the business names, phone numbers and internet addresses ..... a bit mercenary maybe, but it is business after all ...

    just an opinion based on experience ...

    I know .. not much sentimentality or emotion here ...
    Thank you John,

    The numbers didn't make sense to me either but I see these kinds of "puffery" sales things a lot which, when actually analyzed, make no sense.

    I presume the seller has "boosted" the asset-side of the balance sheet with a crap load of so-called "good will" but is, in fact, saddles with a poop load of debt.

    Besides, as some have noted here, the "value" lies in the individual not in the institution/business. He goes and there goes the business.

    This was a profit making enterprise that is running down - nothing more.

    BTW: I live in NYC - anyone want to buy a bridge?

  10. #20

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    All it takes is one sucker, right?

    Oh... forgot to ask... which bridge??

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