I Bought a Roller Skating Rink for £2,600,000
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- Опубліковано 26 чер 2024
- In this video I reveal a new business I have bought and why I have taken it over, how I did it and what my plans are for the future. This business takeover series shares buying business details and ideas that could help you in your entrepreneurial journey.
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Who am I?
My name is James Sinclair and I'm the founder and CEO of The Partyman Group of Companies. I started building my business when I was just 16 as a family entertainer after that I built up an entertainment agency, then moved into building a leisure and day nursery businesses. Today we operate a £30 million business which includes leisure, childcare, outdoor attractions, commercial property, arts and crafts manufacturing as well as one of the UK’s oldest Ice cream companies; The Rossi Ice Cream Company.
⌚️Timestamps:
00:00 I bought this roller skating rink
00:15 The numbers: Revenue & Customers
01:40 Why I Bought this business
04:03 Buying business rules
07:43 Bonus Perks of this Business
09:31 How I structured the deal
James, I make the time to listen to your videos because you are upfront with figures and tell us broadly how you structure deals. Priceless
Thanks Chris, hope to see you at Podcast LIVE. Team Sinclair
You should look into Maddison Heights in Maldon, its a seriously underutilised building that's been a bit of a rubbish place for a good few years now but unlimited potential
Many congratulations on your purchase. Real good gems in this video. Thank you for sharing.
We go Rollacity quite regularly. I'm over 50 and I take my Daughter and her friends. Maybe check out what Flippers has on offer to attract people from further out. You definitely need a proper DJ, it's not just about the skating.
We need Andy to DJ everyday!
Bro’s playing real life monopoly.
Congrats man!
YTs algorithm threw your channel at me and I've subscribed, it's rare to meet a wealthy individual these days thay doesn't just sit there boasting of how successful they are, you seem to come across as very down to earth and genuine. Loads of business insight and enthusiasm, glad I found your channel. 👍🏻
Love this James !!
Great content with lots of transparency as per usual. The vendor finance play is so obvious but sometimes I find it hard to pitch to business owners, they just think they’re paying us to buy their business. Great video
Brilliant video James. Thank you for sharing your wisdom yet again.
Thank you Readmycomment3157, hope to see you at Podcast LIVE. Team Sinclair
Where did the comment with 19 responses go? It was a healthy debate imho.
The debate about what, please? I'm genuinely curious here
@@unicornopia About how much was owed by the group of companies to the banks and the risk of interest rates, etc in the future: Effectively how rich James really is.
It was also about how the banks were possibly the biggest benefactors of the businesses due to the loans they had (after the taxman).
My thoughts are that whilst the tax man and the banks are probably doing well out of this, so is James Sinclair and his employees too. James seems comfortable with the risks he is taking and wouldn't be where he is now without taking those risks.
Great video ..
Very inspirational ..
Keep it up .!
Loving all your additions James....now I can increase our customer relationship when we take the grandchildren out....last time we had a day at Marsh farm, coffees in cookies and cream in Leigh, then went down to westcliff and ate at Rossi, my favourite.! See you there soon.!
Great work Steve! hope to see you at Podcast LIVE next!!. Team Sinclair
Cant wait to see the next business purchase!
You won't need to wait too long David! hope to see you at Podcast LIVE. Team Sinclair
I like your transparency.
Nice video.
I remember having my 10th birthday party at Roller City in 1992, good times.
I was waiting for this one 😎
I think the one thing you missed out, was chimney pots and access (unless I missed that, was reading leases as it was playing). Its no good having a niche business like this, if you don't have the chimney pots, and easy access for nearby towns. For example, would you have bought it, if it was where Fort Fun is in Eastbourne? Probably not, as road access to nearby towns is rubbish, and not enough chimney pots.. But Rochford, on the edge of Southend / London, with loads of chimneys, it can bring in the people.
Brilliant, great strategy. The commercial opportunity of consolidation.
Great video James
Turn the heat up a little, buy a bunch of those beer hats where it can hold drinks with straws and start selling slushies/drinks you have on your hat whilst riding, family secret you will double your revenue i promise
Thanks for continually sharing so much great insight into your entrepreneurial ventures James. It's really compelling and inspirational.
Thanks Stephan, hope to see you at Podcast LIVE. Team Sinclair
@@JamesSinclairEntrepreneur also he careful with this comment over and over UA-cam might see it as spam
One thing to note that I was disappointed you didn't state as I believe this is obvious. You can and probably will become your own supplier to your Roller Park business. I am sure you would sell plenty of ice creams to hot and sweaty people. Let alone all the other confectionaries you have.
WOW GREAT CHESS MOVE!
FANTASTIC!!! 😂👍
super video and great breakdown…
Love his Energy
James, when you supply the other businesses from the warehouse how do you apportion the stock. Is it synced with something like quick books/xero?
Another really interesting video! Thanks James
Thanks tomroguk, hope to see you at Podcast LIVE. Team Sinclair
It would be my dream to have a roller skate rink business some day. Having a physical location too would be even better, but unless I won the lottery, highly unlikely, will still keep the thought alive in the dream though!
Thanks Jordskates8791, hope to see you at Podcast LIVE. Team Sinclair
I love the UA-cam algorithm. I have no idea why it showed me this video, but im so glad it did. I live down the road in Leigh and used to go here as a kid. James seems like a nice dude. Now that I'm 48, I promise not to hang about outside smoking with my cheeky gang of ne'er-do-wells.
Thanks for the video James, really interesting, shame we didn't get to see you skating and falling over :)
Any chance you could leverage the location, rebirth the potential idea of an ice cream factory tour? Smaller risk with infrastructure in place, car parking, FOH facilities at roller city.
It seems a very good business plan.
Roller skaters want to eat and drink (lovely fit with exiisting business's )
Owning bricks and mortar,so if it goes tits up, you still have the building to rent/ sell
This is such good content James.
Thanks WintuhLiving , hope to see you at Podcast LIVE. Team Sinclair
videos getting just better and better!
Thanks GlitchVR, hope to see you at Podcast LIVE. Team Sinclair
@@JamesSinclairEntrepreneur already got my ticket and booked into be on the podcast on the 9th!
This was a good watch
I think there's great potential to take roller skating a bit upscale - a lot of rinks have been run down over the years and cut back on their offer. There's increasing demand for both adult and child lessons and more grown-up nighttime events. And then there's roller derby, which has its own vibrant and growing scene - many teams struggle for good venues so someone catering to them could become a hub for UK and European tournaments.
Rollerworld in Derby seem to have a good model, with skating games, a decent café and a bar. Their main sessions get really busy and that's with a facility that isn't as good as the one you have here.
Also look at Flippers rink in London. It’s part owned by Usher who brought roller skating to the Super Bowl show this year. Skating is getting more and more popular, what’s needed is more investment in rinks; Flippers is often sold out as they have great DJs, great food and brilliant marketing. The place is an absolute vibe.
Best of luck mate. Not sure about this one at all personally.
Fairplay James, you have your head screwed on.
Would love to know what your first business venture was and how you made your money to develop the rest of your companies.
I was a kids entertainer when I was 16, then started an agency for entertainment, then started a event prop hire company, then set up play centres, then nursery’s and the rest is history. Hope that helps.
@@JamesSinclairEntrepreneur thanks James, wishing you all the best. You have earned it, obviously worked hard. There is no substitute for hard work when your trying to build your own business, as sometimes only you know how to achieve it. Now you have earned enough to build an empire, you will be successful in every business because you have started at the bottom and worked your way to the top.
Great educational content mate. Cheers.
thanks BFactah, hope to see you at Podcast LIVE. Team Sinclair
These videos keep getting better and better! Keep up the excellent work guys 😊
Another belter James - so informative
Thanks Ben, hope to see you at Podcast LIVE. Team Sinclair
Really good video James. Professional and informal at the same time as ever
Thanks Gary, hope to see you at Podcast LIVE. Team Sinclair
Brilliant video mate, very well done and very informative…..Top Notch👍🤓
Thanks Brad, hope to see you at Podcast LIVE. Team Sinclair
Have you considered to convert this in a bouldering climbing? There is so much upsell then just renting Roller skating ( And in bouldering there is also shoes renting) and it seems more easier for a total beginner to try bouldering than roller skating, and it is an activity with growing popularity, but I know it demands invest to transform this
Great idea TakeElite, something worth considering for sure, hope to see you at Podcast LIVE. Team Sinclair
Fill the roof with solar
Very few people can be so open absolutly great info
thanks Mike, hope to see you at Podcast LIVE. Team Sinclair
Weaving a new basket.
the best business would be something 24/7 open and for everyone
Like what? Convenient store ? Or gas station?
gas station is a good one @@3.7Million
It’s going to be a block of flats soon
Great video! And a great buy! Definitely future proofs your operation.
Not sure it’s a good choice for podcast because of the seagulls! 😜 maybe you could build a sound proof podcast studio in there somewhere so you can keep the cool view but not have the seagull noise.
Could you have a 100% hire fee but then offer free use of the ring
i think you are Skating on thin ice with this business
Very droll
I'd deffo have 9 pound rental 1 pound entry
Can only imagine what the liability insurance is on this !
Great content , James ,Africa is watching you!
Hello Africa!
WTF - What are the odss that I found you as I just started roller skating
I recently found your content. I really like it! Over 200 people a day in this place? That's amazing, whats the sq ft?
"Giant"? Its tiny..... I don't skate there because its too small lol, nice place but it's like sardines
James, you are an example of why UK business is shit and just not worth while any more. In order for you to be profitable you have to own so many different businesses to compliment each other and to vertically integrate everything so you get a decent margin. Most normall business owners just want 1 business that they want to own and master. they dont want a 50 businesses just so they can become a success.
The taxes and running costs of business is just too damn high. You either have to bootstrap your business and have a home based business from a shed or spare room in the house (where you have no business rent or rates) and you can make yourself a modest living. Or you have to become an entreprenuer where you have multiple businesses operaring hands free to get by.
This is not true. I know many people who are successful enough just owning one business. Got a friend who had an engineering company he started from scratch. He was making £100k per year but sold out for £5m after 10 years. Got a friend who owns an import business that makes £5-10m per year. Got a friend who owns a music school, earns £100k per year. He sold it then took 2 years off and started another one earning the slightly more. I also have many friends who have property businesses, be it student lettings, hmos, buy to let, commercial properties and development. They are all still thriving.
Username checks out 😂
@@onlineo2263 I love how all your friends earn neat 100K and £5, £10M in 10 years. It's very interesting how your friends incomes are neat and all use the same figures. hahaha.
Lol user name checkouts hahaha what a numpty. This is so untrue and spoken like someone who has never run a business.
James - If you won £10m on lotto. Would you bother doing any of this?
Absolutely I would carry on; I’d hate to win the lotto and to that point I have never bought a lotto ticket in my life. You’d feel like everything you’ve got you hadn’t made yourself.
Shouldn't you pass the VAT saving onto the children when they hire the roller skates? Surely that's why there's no VAT on it.
I see it as this….. so you can stay in business. Most companies in leisure are going bust at a rate of knocks.
Turnover taxes ( vat and business rates ) are killing our high streets and hospitality trade in this country; they need this so they can continue to trade . I really believe the gains are picked up by actually having it in the community rather than not.
If we didn’t have this it would mean you would t bother doing it and you’d just become a warehouse doing distribution.
In addition the profit the business makes is then picked up in corporation tax
These videos are much better than the podcast videos
It's important to invest in your podcast backdrop. Greenscreen just isn't the same.
If ever covid came back your business portfolio would be in the shit
I don’t think so. We traded so well in Covid. Yes in lockdowns it was rubbish but our childcare and rental operations soared.
@@JamesSinclairEntrepreneurquick reply fairplay. That's good news 👍
If it’s makes 1.4 million a year and you paid 2.6 for it. I think it’s pretty obvious why you bought it. 2 years and you’ve got your money back.
It turns 1.4m doesn’t make that in profit.
These comments are not real people
Yeah ok mate.
Do people still go roller skating ?.. can’t help thinking it’s a 1970’s Disco Stu thing
You have no idea. Rollerskating is having such a revival. Every rink I've been to recently has been packed. Last time we went, the queue took 40 minutes and the people behind us didn't get in because the rink was at capacity.
Then can I have a job? With all your businesses, I can assure you won’t find better workers than your audience.
Highly unlikely in 2024 sadly many don't wish to put in the hours required at the required rate and cry wolf the moment anyone says anything to them that's authoritive. If ya keen though why not apply? His details are here.
@@thedappercook I agree, unfortunately. Perhaps, but my hours go into my very small business. Only a reply would have spurred the energy to appreciate the worth in doing so. Otherwise best to keep focused, stay well my friend.
@@samwellgent5221 onya mate. Dual business owner here so I can relate. Fortunately I adore what I do so I can't wait everyday to get stuck in.
Scammer
Defo something weird about him .Allways kids business
Not really
Kids need ms/ dads/ grandparents/ guardians to take them to these places and it's the grown ups that spend good money.