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这个生意是个连锁的便利店， 在维州一个很偏远的鸟不拉屎的地方。 全镇2000人， 有这个便利店和一个奶吧。 大的超市在25KM以外。 FREE HOLD生意包括三房住所。以下是2013年资产损溢表：
Total Income: $1,794,952
Total Cost of Sales: $1,358,973
GP: $45,980
Other income: $10,820
Less Operation Expenses:
Advertising: $7,167
ASIC Fees: $522
Bank fees: $3,217
Cleaning & Pest Control: $6,051
Depreciation: $4,130
General expenses: $244
Insurance: $15,388
Interest - Bankwest Account: $15,823
Interest CBA Finance (POS): $994
Interest expense: $1
Light, power, Heating: $21,916
Motor vehicle expenses (incl fuel): $5,921
Motor vehicle lease: $2877
Office expenses: $4,806
Postage: $88
Professional fees: $11,269
Rates (Council & water): $2,518
Rent (Ligal): $24,000
Repairs & Maintenance: $13,589
Security cost: $310
Staff Amenities: $444
Subscriptions, Licences, Permits 5,510
Super: $18,187
Phone & internet: $5,145
Travel & Meal & Accommodation: $3,448
Wages: $229,168
Workcover: $5664
Total Operation Expenses: $409,660
Net Profit: $37,139
以下是中介发给我的邮件：
The adjusted ( Add Backs) net profit for 2013 is as follows:
Net Profit $37,139 ( as per reports for 2013)
Rental $24,000 ( this is rental we take for the buildings to our own trust account)
Managers wage $72,000 (including oncosts) This is for 1.0 FTE
House rental $10,000 (Manager has free use of 3 bedroom house rent free, including power and phone)
Directors phone $2,000
Directors fuel $1,500
Directors groceries $10,000
Total Adjusted profit $156,639 - at 3 times EBITDA the valuation of the business is worth $469,917
The total package we are selling is
House and Shop Freehold $500,000
Business $420,000
Stock $ 75,000
Total $995,000
分析如下：
1. Rental + House rental是property investment income， 不应该算在business的profit下边， 所以不同意以上中介的算法。而且在资产损溢表里看不到这个house rental这一项。如果这两项不算在profit里边， 是实际上Adjusted profit只有$122,639.
2. 不明白为什么中介对生意的股价是利润的三倍, 有大侠可懂？足迹上大家都说一年半到两年回本， 如果算两年回本， 那我应该估价这个生意值$245,000
3. 房子包括以三房住宅和一200平米店铺， 要价$500,000。 鸟不拉屎的地方房子要这个价， 是不是有点坑爹? 网上搜了一下， 那个地方的比较新， 漂亮的房子也就是20万左右， 这个生意的房子很老了， 比较破。 就算20万， 那这200平米的店铺也不值30万吧。
目前还没有跟中介沟通， 发帖在此就是想先看看大家的看法， 有什么需要注意的事情等等。
先谢谢大家了！
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一次心血来潮的旅行 -- 泰国记游 (2009-10-16) astina 
发表于 2014-9-21 11:47
