[cstreit]

Wayne,

I'm going to chime in here only because I want to echo the sentiments of some of the other folks with the intent to help solidify what they've said to you...

THe BBS is a great asset, but there are very few models (outside of on-line sales) that generate any tangible revenue. Despite modern accounting practices of quantifying "Intangible Customer Goodwill" on many corporate balance sheets, it's really tough...

I work for a CRM/Supply Chain/Financial optimization company so we deal with a lot of revenue issues... Most companies internet sales are 5-10% of their total revenue. Significant, but not great. Bottom line is I would determine offering price based on what you think your intended revenue is in year 1 and 2 (understanding that it could drop off afer six months), take a SMALL percentage of that, adjust it for how many people you think you will get from said purchased customer list, and offer what you think is fair...

I wouldn't say it would be worth spending more than 15-20K onyl because all the risk is yours, including the risk of the seller re-starting another board... All you're really buying is the contact list and the URL name.

I think it's a GREAT idea FWIW, but I also think you have the resources to start a good board from scratch too. Try some creative promotions. For example... FOr every new customer a board member brings in, give them 5% of that new customers order off their next order. (Up to a max $ value or something).

Without knowing your ratio of repeat customer income vs. one-time buys, this may or may not work...

Can you host some famous people on on-line chats?

My 2 cents...