Acquisitions Anonymous - #1 for business buying, selling and operating - Girdley pitches Heather to buy a Winery - Acquisitions Anonymous 249

Episode Date: November 28, 2023

On this episode of Acquisitions Anonymous, Michael pitches Heather on buying a winery. This listing is for San Martino Winery and Vineyards in LaVon, Texas, priced at $3.1 million, including real estate valued at $1.7 million. While the business has a strong social club aspect and positive Google reviews, it generates just $150,000 in annual cash flow. The ideal buyer would need a significant net worth and a passion for wine and hospitality, as this business prioritizes lifestyle over profits.Thanks to this week's sponsors.Acquisition Lab and their team have been longtime supporters of the pod.Created by Walker Diebel author of Buy Then Build: How to Outsmart the Startup Game, is an accelerator with a highly vetted cohort-based educational and support community for people serious about buying a business.Acquisition Lab exists to help people buy a business and navigate all the complexities of the process, as well as provide a trusted framework, tools, and resources to support you from search to close.If you are serious about buying a business, check out acquisitionlab.com or email the Lab's director Chelsea Wood, [e-mail].-------------CloudBookkeeping offers adaptable solutions to businesses that want to focus on growth with a “client service first” approach. They offer a full suite of accounting services, including sophisticated reporting, QuickBooks software solutions, and full-service payroll options.Subscribe to weekly our Newsletter and get curated deals in your inboxAdvertise with us by clicking here Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel. Do you enjoy our content? Rate our show! Follow us on Twitter @acquanon Learnings about small business acquisitions and operations. For inquiries or suggestions, email us at [e-mail]

Welcome to Acquisition Anonymous, the most tongue-twisting show name in history, Acquisitions Anonymous. I am your co-host, Michael Girdley. Today, I brought a fun deal to Heather, and we talked about it, and it is a winery. And it's not a winery in California. It's a winery in Texas. And it turns out when we dig into it, it's not actually a winery. So other than that, it was a great deal. So here's the episode.

I had a ton of fun with Heather, educated people a little bit on the wine industry. and I think you'll enjoy it as much as we did. Here's the episode. This episode of Acquisitions Anonymous is sponsored by Acquisition Lab. Acquisition Lab and their team, they've been longtime supporters of the pod, and they provide a really great service for people who are looking to acquire a business. So it's created by Walker Dival, who's become a friend, the author of Buy, Then Build, how to outsmart the startup game.

So Acquisition Lab is an accelerator with a highly vetted, cohort-based, educational, and support community for people who are serious about buying a business. So a lot of our listeners like you, you turn in every week to our deal reviews, you want to get in on buying a business. You know, you're on this podcast because you're trying to learn how to buy a business. But if you're not quite sure where to start, acquisition lab is a great place to start. So they exist to help people buy a business and to navigate all those complexities of the process, everything you hear us talk about on the show.

They provide a proven framework, tools and resources that support you all the way from search to close. they do it. There's a whole bunch of educational material and support. So if you're serious about buying a business, check out AcquisitionLab.com or you can actually email the program director Chelsea Wood directly. Her email is Chelsea at buy then build.com. Heather, one of the best parts about us doing just a you and me episode, which one of the other guys may show up. We'll see. It's been one of those Fridays is you're just so delightful to visit with. Oh, that's so nice to say. Thank you. I will try to stay delightful. You never.

know what you're going to get with me, you know? For sure, for sure. Just don't let the internet corrupt you. That's what I think is the key thing. I feel like I made it this far without the internet corrupting me. I feel like I'm strong. I can do it. I worry about the younger generation, you know?

This is what I worry about. The past couple weeks on Twitter especially has just been awful. Like just, I think somebody's running a lot of bots because I look at some of the hate stuff I'm seeing now from people, and it looks like it's automated. Yeah. And I'm like, oh, come on, guys. Like, really? That's pretty certain.

I know. You really can't take anything too seriously on there because it is crazy. The other thing I have noticed, I put my new, for those of you on camera, you can see my new video setup, which is a perpetual growth opportunity for me. But I put that up there and I was like, hey, like we've improved this a little bit. I like some of the things I made, like I changed this headphone set up. and stuff like that. And like the thing I also loved about Twitter

was it was an opportunity to get in successive tweets and replies to my original tweet, one suggestion on how to do something better and then the opposite suggestion on how to do the exact opposite thing and that would be better. Like one person thought my background was too bright

and another person was like, too dark. Like one after another. I was like, whoa. Yeah, where do you go with that? Yeah. What was going on here, guys? So anyway, it's kind of that idea if you want to get the right answer,

you just go on Twitter and post the wrong answer. So people go from there. Okay, that's a strategy. I got you. All right, so I've heard that you like wine. Is that accurate? I do. I like wine.

I found a winery for sale. And I don't think we've actually done a winery, but I got to thinking about it because every time I hear like somebody go on, you know, the internet or talk about somebody who's like, you know, my dream is to go run a winery. Like, it just feels like the most boogie dream ever. So anyway, maybe that was your dream.

And if I just was old... No, it's not. I just like to drink it. I don't want to own it. I'm a consumer. Well, maybe we'll dig into it and figure it out. So I found this one on Biz by Sell. By Sell, by the way, Biz By Sell,

we still would love for you to sponsor an episode. So we're waiting. And this is actually not located in California. Where do you think it's located? In your favorite state of Texas? Let's go. State of Texas. Actually, this is in

Collin County, which is like north of Plano. So it's like one of the fastest growing economic regions of the country, which is North Dallas. And they're basically, I don't know if you know, but Dallas has just decided for the past 50 years to just grow as quickly as possible towards Oklahoma. And they're like halfway there. Wow. So this is Collin County, which has been one of the most, you know, kind of suburbanizing counties going from rural to suburban in the United States. And it's just, it's just every time I go there, I go like every three, months because we have a lot of business there and it's just like a different planet so and don't

call every town in this area Dallas now like people like me uh yeah yeah well this is the Dallas Fort Worth Metroplex so it's Dallas they call it the Metroplex or DFW but it's kind of like San Antonio or Houston and you know it's a funny thing about Houston most people don't know the majority of the population doesn't actually live in the city of Houston they live in unincorporated Harris County and the areas beyond. But they just were, if you ask somebody from that region, they'll say they're from Houston. So this is a suburb of Dallas for sure. All right.

So it's called the San Martino Winery and Vineyards that are for sale in Levant, Texas, which is in Cullen County. So it has a picture of like, I would say like, I imagine if Disneyland designed like a Tuscan winery, it would look like this building that they have in the picture. It looks like a church. Like you're drinking wine in the tree. church, that's kind of strange. By the way, there's a funny

joke in Texas. Like, if you want to get rich, like figure out how to be a general contractor building churches or schools, because we're always building them here. Okay. So, it's kind of a funny joke. Well, in a state of perpetual sprawl development, it's like one of those things where it just keeps going. So, all right, so

a picture of cheesy winery. 3.1 million is the asking price. Cash flows $150,000 a year. So they're asking $3.1 million for $150,000 in cash flow. I know that that ratio will have you super excited, Heather. Yes, I'm doing the math right now. I'm not in the cash flow. It's not good. I don't need to do the math. I could just tell you that's worse than T bills in terms of the return on investment. T bills are paying 5% or whatever. All right, gross revenue is $600,000.

EBITA is non-applicable. They have another $600,000 in furniture, fixtures, and equipment, inventory is $150,000, and this is a winery, and then the real estate is $1.7 million. And it was established in 2003, and it looks like the real estate says it is not included. Oh, no, the inventory is not included in the asking price. So I guess that's the first question here. Are they selling you the real estate also? I hope so for that price. I sure do.

That would make more sense, right? because if the real estate is valued at 1.7 million, the asking price is 3.1 million. The cash flows 150,000. Then in theory, your real estate, if you're going to pay yourself no rent, gets deducted from that asking price, and that's $150,000 on $1.4 million plus or minus in expenditure. So you're closer to a 10% percent, which is much better than the 3%. Anyway, they all suck. I don't know. None of that's good. All right. Profitable established winery. in Rockwall, Texas, this family-owned winery specializing in handcrafted wines using modern

techniques, but with a traditional, quote-unquote, sold, born in the legacy of a winemaking family that has crafted wonderful wines for 600 years in northern Spain. Perseverance, hard work, vision, and passion are the elements that created San Martino Winery and vineyards in 2003 in North Texas just outside the city of Rockwall. So just to pause there, Rockwall is actually northeast of Dallas. It's one of the kind of closer in suburbs, but it's northeast and not due north. So it doesn't matter.

Dallas is growing every which way northwest and northeast as quickly as possible. Over the years, the wineries expanded and grown become modernized and won extensive awards, not only in Texas, but also an international competition, such as San Francisco, Los Angeles, and others. But the soul of San Martina winery and vineyards is not the modern and beautifulest facilities, but the sweat, energy, and time that everyone evolved with our winery has invested over the years. Every bottle of wine contains not only a precious liquid for you to enjoy, but it also contains our time, our efforts, our friends, unselfish dedication to our success, the aches and pains of many

overworked backs, and the laugh and enjoyment of the post-production and bottling gatherings. Our name is on each bottle, and our story and dreams are inside of it. You know what this kind of reminds me of, like, I know I'm supposed to read the deal before I's talking about it, but this is like, this is the type of paragraph that you have, here written by somebody who bought a winery or bought a bar and it's just the reason they own a bar is because they love to drink with their friends like crazy

and it's like I can just imagine these guys just have the most fun inviting their friends in doing the wine and building a community around this thing but they're drunk the whole time. That's kind of what I'm there's that yes that enhances it. All right located in Levinne Texas

they're not giving you the wine for 3.1 million it's not including the asking price the real estate is owned and that is included in the asking price. So we get $1.7 million worth of real estate, and then the business, I guess they're valuing that $1.4 million, and that's $150,000 in cash flow. All right, building square foot, 9,600 square feet, two employees, FF&E, including the action price, and in the asking price. The main building includes a tasting room, a barrel area, and an upstairs apartment. So, Heather, you get to live here as well in a 3,500 square foot apartment.

Okay. That's a big apartment. Yeah. Yeah. Yeah. Okay. Event center, approximately 2,500 square feet, production center, 2,400 square feet, a cold storage building, a 1,000 square feet, one large patio covered 900 square feet and a couple of other patios on a small storage building. They have a wine club that is part of it. The owner's club has 135 members, and the original club is at approximately 745 members. The wine is distributed to the tasting room and wine club members, no outside distribution currently.

Okay, so this is super interesting. So this, what I'm reading here, and correct me if I'm wrong, Heather, is it looks like they've basically built an owner's club subscription model around the winery, and that's what you have to join in order to have the right to buy the wine.

Is that what you're seeing here? That's what I'm seeing. And I've seen those around here as well. Yeah. Yeah, if Chili started one of those, I would totally sign up for it. I'm just checking. For advertisers, right?

Yeah. Yeah. You get free apps. Yep. Just kidding. I wouldn't need to join the club. Actually, my funny resort, whenever somebody asks if they want to meet me at Chili's, is I'm like, yeah, yeah, just tell the waitress to let you into the VIP room. I'm back there.

Yeah. There's no VIP room. Yeah. The whole thing is the VIP room, right? There you go, Heather. Okay. There it is. All right.

A little bit more about this deal. You can find out the business website is at San Martino Winery. and it's listed by Toby Vic Nair from Keller Williams, Bernie. Interesting about Toby, Keller Williams is mostly a residential brokerage, and Bernie is a suburb of San Antonio, which is four hours drive away from Dallas. And the reason for the owners to sell is they are getting older and would like to travel more. So that's it. I think that's everything here. What do you think? Well, it's definitely just a real estate deal.

And by the way, Bernie, I thought I would have said born, Texas. I've learned I do not know how to pronounce anything in Texas. Bernie, I was shocked. Okay. But yes, it's a real estate deal. It's mostly a San Antonio problem. Our county is spelled B-E-X-A-R and it's not Bayhar. It's bare.

You got me on that earlier. You know, previously I learned that I didn't. get that one either. So I'm very cautious now about saying anything, pronouncing any of the Texas towns. Yeah, so this is, this is like a real estate deal, but a real estate that doesn't cash flow. When I was at my last bank, we had a wine and craft beverage vertical. And one of the little things I learned is that most of the people in this industry are doing it for exactly what you said, having a good time. It's more of a hobby. It's fun. But doesn't particularly, particularly make money. And so most of the borrowers that actually qualified to get loans for

these kinds of businesses were just wealthy folks who had outside income, other businesses, or just a lot of personal wealth. And they were basically qualifying for loans based on that, not based on the cash flow of the business. So this is like what I would expect kind of, as soon as you said, Winery, I kind of had those thoughts in the back of my mind. And that's what it looks like we have here. Yeah, and it's super interesting. This is one of those listings, now that I look at their website, it says it's a winery and that makes you think that it's one thing, but then when you actually look at it, this is not actually a winery. This is a social club. That's what I'm reading here. It's, you know, you pay a subscription to be in there.

You get the privilege to buy the wine, but then they have like these tasting reservations and dinners and camaraderie and all this kind of stuff. And they talk about enjoying the romance, and the quality of the wine country lifestyle. By the way, that phrase has zero appeal to me whatsoever. And I didn't know the wine country was in Dallas, but okay, now I'm, I guess, okay? There's a funny thing that happens with Texas wine. A lot of these Texas wines, they actually just go and they buy California grapes, and then they bottle them and they process the whole thing here.

So my wife and I- Did they say being Texas then? It is like, do people want to feel like it was made? in Texas? There is a significant level of implication that it comes from the vines around you and the tasting room and the grapes. Like, you'll drive up and there will be grapes at these wineries. There's like a little wine country north of San Antonio.

But, like, look, it is hot as Haiti's around here for four months a year, and you're missing all the things you need to grow grapes really well. So I kind of don't blame them for doing it. But when my wife and I moved back here from San Francisco, like 15, 20 years ago, one of the first weekends was like, let's go up to wine country. It'll be just like Sonoma and Napa. It'll be freaking awesome. And we go up there and like we go to like four wineries and they were awful, just awful. And then we went to a fifth one.

And I was like, this is amazing. Like how did you guys figure out how to grow grapes here? Like everybody else's wine suck. And the tasting, the lady running the tasty room was like, these are California grapes. We just sweep by them. Don't tell anybody, but that's why they take. Well, I mean, just like anything agricultural, you do have to have the right area. You have to have the right soil.

You have to have the right temperature throughout the right times of the year. You can't just grow good grapes anywhere. So that makes sense. But, you know, this whole idea of wineries kind of everywhere, you know, you see it kind of popping up. Even in California where we have the Northern California or the Central California wine countries. that is they do grow great grapes. There's also kind of a lesser quality area called Temecula, and they've got a lot of these wineries.

And as an SBA lender, I looked at lots of loan applications for several years where everybody was putting in a new winery in Temecula. And it was basically just like an entertainment thing. You know, people came down there. Most of the wine really wasn't grown there. There's a few producers that grow the grapes down there, but not that many.

And it was really just people wanted to come down and get drunk and have a good time. So do, you know, visit different places and taste different wines. But I don't think many of those as a lender as what I looked at, I don't think many of those made much money either. All right. Taking a quick pause here. I have something to tell you.

This is Michael. I hate bookkeeping. I hate bookkeeping. I hate doing HR. I hate doing all that kind of stuff. But for bookkeeping, I have found a solution. It is my friend Charlie's business called cloudbookkeeping.com. So that's cloudbookkeeping.com.

They are your perfect partner if you want to get bookkeeping out of your hair and focus on making your company, your customers happier and more successful. So please give them a call, call Charlie, cloudbookkeeping.com, tell them we sent you. They're a great way. If you're a business buyer, if you're a business owner, you're tired of hassling with getting your bookkeeping done. He's got a whole fleet of people that are well trained and work for him. He's located here in San Antonio, so I can tell you, because,

of that, he's awesome. And they're a great partner for you to potentially call to help with all your bookkeeping needs so you can do the important stuff in your business rather than worry about getting your books right. So give Charlie a call, cloudbookkeeping.com, and now back to the episode. So I pulled up their website. And it's funny, they said when they first started to make wine, the first harvest of grapes was shipped in. So I still think they're producing, they're buying grapes and bringing them in and fermenting there. But, I mean, an interesting factoid here from their website, they're producing 28 or 5,000 cases of wine a year,

which to me is like pretty significant. That's whatever. There's 12 bottles in there. So it's like, that's 60,000 bottles of wine. That's a lot of wine to drink. Yeah, right. So they must have a bottling facility, but it doesn't seem like it would be in this building that they're showing us.

I guess you have to go back and just look at that. again, maybe it is all being done in there. Well, I'm also looking at this picture. I'm like, wait, what is this picture? And it's like, it's a shot of like a small village in Tuscany. And I was like, okay, that has nothing to do with what we're talking about here. The illusion that we're selling. Yeah, interesting.

But they are producing a lot of wine. I did see a wine business a few years back that kind of sold the idea that you're going to come make your own wine. And basically what they did was just have you blend a bunch of different wines together and call it your own blend and throw your label on it and charge you a bunch of money for that. So there's all kinds of ways to sort of make entertainment out of people coming to try wines and drink them, eat them with, you know, have food, meals with it, whatnot. But I would think if you're really running, you know, if there's a lot of people coming through your door, you can make more than $150,000. Yeah. Well, and it may tie back to what is really going on with this business, which is my suspicion is that it's mostly a hobby for these folks, and it's a lot less of business than, you know,

I think we would hope it would be. And I look, I think I found the pictures of the proprietors and it's two, it looks like it's two men, which, you know, seems, seems apropos. These guys seem like they have a lot of fun. Like, they've taken these artistic shots of themselves by the barrels. Like, it's all about the lifestyle for them. And I think that ties back into what this business is about, right? The job to be done here isn't to make the owner money. The job to be done here is to provide a lifestyle to the owner and a reason to get all

these people together and run this community. And, you know, I think that's what you're buying here. You're not buying a revenue stream. Ideally, you would be making, you're not going to lose money, but really what you're looking at is you're buying yourself. lifestyle here. So, you know, this is not an SBA buyer. Yeah, at least didn't say SBA pre-qualified. They were, they were honest there. They did not say that. That's the first time. That's the first time. Yep.

Cool. So things, let's go through some stuff we like for sure. And then we should talk about who should buy this business. So things I like, I'll give you one. And I'm interested to see what you think. Real estate included. Deals with real estate included are much easier to finance than those without it. So I, you know, There's hard stuff here that a bank can look at and say, oh, I can go after that and at least have a good chance of getting my money back with that kind of real estate and the equipment and all that kind of stuff that's there. So anything else coming to mind for you? Yeah, I mean, I'm going to counter that a little bit. I know we're trying to stay positive,

but as a lender, you look at that and say, I like that there's tangible assets here, but if they don't cash flow, how is anybody ever going to pay me from those? So you still have a, you still have a challenge there. Like I said, you probably have to have, you have to have some wealth or some other income or a heck of a business plan to show how you're going to be able to increase the net cash flow from the business.

I like that these are fun lifestyle businesses. There's no reason, you know, there's nothing wrong with that. I think that's, I think it's wonderful for people to spend, you know, some of their wealth on still doing a business and working in something,

but something that they love and not worrying too much about how much money it makes. as long as it's at least breaking even or doing a little better than that, and they're happy and they're enjoying it. But these people are selling, so maybe they've had their fun, and it's over now, and they're happy to hand the torch to somebody else. I would love to know, you know, how many people come through their door and if there's opportunity for growth. Maybe the lifestyle owners haven't really been marketing it. They've got the club, but maybe they haven't done much more than that. like you said, Dallas is a huge growth area.

Is there something that someone could come in and do to kind of increase revenue and increase the foot traffic that comes to this place? I think that's definitely there. Something else I like I just thought of. Like, I love businesses where you can go bring joy to somebody else. Like, I think they definitely have that. I mean, you look at like wine, community, getting away from your life, living a different lifestyle and being part of all that, you know, and playing for a lot of people

playing the, is this a wine that I like game? Like, I love that aspect of this business. Like, you're, you're definitely leaving more value on the world than you're taking out of it by just giving people joy in a positive environment around, around all this stuff. Yeah. Right. There's something to be said for that. And there's, and I'm sure that's a lot more, uh, that, that benefits the owner in ways that, you know, we don't see in the financial statements. And so, I think that's a fantastic point. It's interesting. I did just pull up their Google reviews,

and it just kind of feels odd to me that they have hundreds of Google reviews and 4.1 stars, with some with pictures and stuff. So anyway, that would be something I would want to kind of dig into and understand, like, usually wineries,

like, that feels relatively low. I don't know, it just feels off to me. Like, so it should all be five stars. I had a great time. Yeah. Yeah. Yeah, like, is there some other, kind of bizarre stuff going on with the business for sure. Okay. Okay. Anything else you like?

I mean, I like wine. I like wine. I would love to know if this is, you know, I'd love to know, is there anything in particular about the way they make their wine that, you know, what are the, that hasn't won any awards, you know, or have they even tried something like that? I mean, I think that would be really interesting. And if I was into, you know, producing wine, that would be a lot of fund to sort of learn what could we do to improve the quality of the way we're making it. I also want to know who's making it. You know, because you need a, I guess I'm going to say this wrong, maybe a ventnor. Is that the right word?

You know, you need somebody who knows what they're doing. And so I kind of want to know, I want to know who that person is. Is it one of the sellers or do they have an employee that comes in and does that? For sure. Well, so let's maybe transition to who should be the right buyer for this. And I think it kind of ties into what we've talked about around like, okay, the returns kind of suck. You're actually not running a winery.

You're running like a social club to some extent. You have to like really get your hands dirty to practice the craft of wine around all this. So it feels like the universe of people that could, A, get this financed and B, want to do this is really very narrow. Like, I can't, I don't, I was trying to think of my network, who's the right buyer for this?

And like, I can't think of anybody, which is a bad sign. Right. I feel like it's got to be someone who's got a bunch of other cash flow that they can qualify for financing or they can live their lifestyle off of that and have fun over here with this. You know, maybe kind of a quasi-retirement, someone who's got a pretty good net worth and, you know, can burn a little bit of money here because that's what you're going to be doing just to have fun, but to stay busy. As I get older and I talk to people just a little older than me, when they think about retirement, they're just afraid of not doing anything. So, you know, maybe this is a kind of a stepping stone for people to still have something really fun to get up for and go do every day and be working, but, you know, a real huge change

of pace maybe from what they're already doing. But you need to have a lot of wealth and liquidity to do this. And this, the activities you're doing here have to be the most fun things you could imagine, right? this has to be talking about wine, recruiting people to come to your, basically your house, right? Because you live here to talk about wine, throwing parties,

hospitality, like, that all needs to sound like fun to you. And like there are people out there for whom running a cocktail party like is the most fun thing they could possibly do. Our buddy Nick Gray on,

on Twitter. Like, he loves cocktail parties. Newsflash for everybody. I hate cocktail parties. I don't like going to them. I avoid them like the play because I dislike.

them as much as he loves them i hate them and that's why like you know like you have to be somebody that wants to do those sort of things to i think go buy this business yeah and yeah anyway i'm not sure she likes cocktail parties but i do think she likes winning that's why you know martha stewart yeah true i yeah true but you need to be like i want to be martha stewart type of person who just loves to entertain yeah that kind of thing yeah martha stewart but not doing it for world domination. That's the way I would describe. I always think that mostly women

don't do things for world domination and mostly men do, but she's a good example of a woman that kind of did. I mean, the interesting thing when you watch her, and I think she's a genius, super talented, but when you watch her, like, there's just something off

with the way her mannerisms are, with how she doesn't complete her words correct. Her mannerisms are just there. You can see it like, like, she cuts her words off and like, that all represents that there's something. Oh, yeah, I spent a lot of time thinking about this type of stuff. But if you look at her, she does that and then like you just get the feeling from her that there's this like weird barrier up. And you know how you talk to those people and you're like, you either feel like

you understand them and know them or there's something, there's another person behind what you're seeing. And she's definitely the quintessential version of the side. second one of those. Yeah. And so yeah, so that's why she's just like a fascinating cultural personality study of how she ended up, you know, achieving such extremes in what she did because she's, there's, there's an extreme person underneath what we're seeing. That's, that's what I believe. Yeah. True. True. But somebody who bought into what she was selling, you know, that kind of Martha Stewart person maybe is the right person for this business, who just, and who is very social, very, very social.

That person that invites you to cocktail parties at their house all the time, and that's the way they relax, and that's the most fun they can think about doing, and they're a wine nerd as well, and they like hard work, and they have a lot of money, and they want to spend the time and grit that is required to do something like this,

including the physical labor. Like, there's a big physical labor part of this. Yeah. Like all of those activities, you know, this is buying into a lifestyle. This is not, hey, I'm going to, you know, you're somebody that's already made your money I think we do this.

Absolutely. Have to. And look, I think the customers are all like older than us. They're all like 55 and 65 year old ass feats and like that's not me. I got stuff to do. I got the, you need people who are retired.

And so I think that's where the owner of this needs to be that as well, because your customers are going to be 65 and 70 year old boomers. Kind of a crew. Kind of a crew ship crowd. Absolutely. crew ship, but a little fancier, a little cooler than that. Yeah. Yeah.

Well, it's not for me. I'm not there. Nope. Yeah. Well, someday, someday we'll get there. All right. Cool. Well, look, I think, you know, we get a lot of criticism that we don't like enough deals.

I like this deal for the right person. I totally do. But you're not buying return on investment here. You're buying a lifestyle. And like, there is nothing wrong with that. You do you. But like, I need money at this point in life. So I'm not doing this deal.

And doing this job sounds horrible to me. And so like, anyway. Yeah, it's like running a restaurant. It would be really hard. Yep. Some people love that. Some people just absolutely love it. I don't know what's wrong with them, but they do love it.

So it is what it is. Cool. All right. Well, let's wrap it up there. And any other thoughts about this one? No. I would like to go try the wine. If anybody buys it, you know, let us know and we'll come check it out.

You got to need to join the club. That's true. I'll have to join the club. I'll join it. Okay. All right, everybody. Thanks for being here. See you next week.