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Re: 2016 accounts
Posted by: Higgosboots
Date: 15/09/2017 05:51
Quote:
Matt34
Quote:
Higgosboots
No it's not that bad yet, but Riverhill will deliver sweet FA, if it were such a profitable business why did the chap who owned it sell it, if it was profitable enough to support a football club with a 13k all seater stadia and turnover of in excess of 2 mil then it wouldn't have been sold.

Why not? Maybe the person who sold it was getting too old and couldn't be bothered, or wanted to emigrate and retire or do business abroad, or didn't want to run it anymore due to health concerns.

I don't know who that person was, so I can't comment directly on their circumstances, but almost everyone running a business that is profitable, can logically be described as someone who doesn't want to do it until they literally drop dead and 99% of the time dropping dead when you run a successful business or two, is down to premature finality of your life, not because you're still on the premises creaking about at 110, overseeing staff, purchasing and accounts.

A fair point, but my statement was made as a bit of a guesstimate with some figures,

Hotel turn over was £749,000 in 2012, which does not amount to profit, and it's not to say it doesn't make a profit, average net profit for a business in the hotel industry is 5%, a good profit is conisddered 8%.

The owner however appears to have decided not to sell his sister hotel so one can only assume he has not retired.

So the club will see estimated benefits at the lower end of just over 37k and at the top end just under 60k. Nit a bad little earner but as I say won't prop up the club, pays a p,Ayer in 2k a week for just on 7 months.

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