Is this even an attractive business as a single centre and performing well? clearly the bloke is taking the **** as is common in such situations. Perhaps if there is the intention to get a few or more of these centres as a quick roll up and then package them for sale/franchise there may be some value here....but not paying 100k for it. Its worth the depreciated value of its assets (ie. fit out), and that's if you value that stuff...ie. would you replace some/all? So I'd call it 50k at best. As is, this kind of business is just a job unless you have a plan to scale up. Pass for me. I'd be more inclined to start something like this from scratch if a case could be made for it.