Every buyer runs the same screen: revenue up and to the right, clean net income, walk away from anything declining.

That screen is why the best entry prices in small business acquisition hide inside declining P&Ls. When everyone filters a deal out automatically, nobody is left to notice when the decline has a visible, fixable cause sitting in plain sight on one page of the income statement.

This listing is a California outdoor paintball and events park that has operated since 2007. Nearly two decades of local brand, a real asset base, and a diversified activity mix covering paintball, low-impact gel blaster games for younger kids, party and event hosting, and on-site concessions.

At its peak in 2022, the park did $753,117 in revenue. In 2025 it did $473,964. Most buyers stop reading right there.

Here is what they miss: the park has been cash flow positive every single year on an adjusted basis, the paper losses on the P&L are driven almost entirely by non-cash charges and costs that disappear at closing, and the revenue slide tracks a spending decision, not a demand collapse. The seller is open to offers, which means the entry price is a conversation instead of a wall.

Walk through the numbers and decide for yourself.

Business: Outdoor paintball, gel blaster, and events park with on-site concessions

Location: California

Operating since: 2007

2025 Revenue: $473,964

Peak Revenue (2022): $753,117

2025 Pre-Debt Owner Cash Flow: $79,361 (bridge shown below)

Asset base: Roughly $420K of equipment, vehicles, and site improvements at original cost

Asking Price: Open to offers

Financial package: Six years of income statements, five years of tax returns, balance sheet, and depreciation schedule, all on file. Reply PAINTBALL to this email.

Objection 1: "Revenue has declined three years straight."

It has. Now look at what declined with it. Combined advertising and marketing spend fell from $29,352 in 2022 to $15,475 in 2025, a 47% cut. ✓ Repairs and maintenance fell from $104,502 in 2021 to $5,252 in 2025 as the owner stopped reinvesting. The park was wound down, not outcompeted. The 2021 and 2022 numbers, $701,623 and $753,117 on this same footprint, are the proof of what the location produces when someone is actively feeding it customers.

Objection 2: "The P&L shows losses."

The 2025 net loss of $53,982 includes $46,371 of non-cash depreciation and amortization, $54,000 paid under a consulting agreement tied to the current owner's own buyout of the prior owner, and $32,972 of interest on the seller's acquisition debt. All three vanish for a new buyer. Strip them out and the park generated $79,361 of pre-debt cash in its worst recent year. The full bridge is below.

Objection 3: "Paintball is a dying niche."

Pure paintball fields have a demographic ceiling. This park does not, because in 2022 the owner invested $121,010 building out a dedicated gel blaster area, which opened the park to kids far younger than paintball allows. Birthday parties, youth groups, and family events became bookable inventory. Add the race track feature, event hosting, and concession sales, and this is an outdoor entertainment venue, not a paintball field.

Objection 4: "The balance sheet is ugly."

The balance sheet carries debt from the current owner's own purchase of the park, and in an asset sale none of it follows the buyer. What does convey is roughly $420K of depreciable assets at original cost: site improvements, fencing, a tractor, trucks, an air compressor system, inflatable fields, gear, and the gel blaster build-out. You are buying the park, not the seller's liabilities.

Revenue:

2020: $418,712

2021: $701,623

2022: $753,117 (peak)

2023: $648,891

2024: $555,900

2025: $473,964

Adjusted cash flow, per the seller's own add-back schedule (net income plus depreciation, amortization, and the buyout consulting agreement):

2020: $99,264

2021: $65,058

2022: $136,648

2023: $72,378

2024: $61,729

2025: $46,389

Positive every year, including the trough. ✓

Net Income: ($53,982)

Plus: Amortization (goodwill from the current owner's purchase): $40,025

Plus: Depreciation: $6,346

Plus: Buyout consulting agreement (ends at sale): $54,000

Plus: Interest on seller's acquisition debt: $32,972

Pre-Debt Owner Cash Flow: $79,361 ✓

Run the same bridge on 2024 and you get $90,977. ✓ Run it on the 2022 peak year and you get $137,979, an 18.3% pre-debt cash margin on $753,117 of revenue. ✓

That 2022 figure is the number that matters. It is not a projection. It is what this exact park, on this exact footprint, already did.

Phase 1, Months 1 to 6: Turn the marketing back on. The correlation between ad spend and revenue at this park is not subtle. Restore advertising and marketing to the 2022 level, roughly $29K per year, rebuild the group booking pipeline with schools, churches, corporate teams, and youth leagues, and get the review and social presence active again. This is spending money the P&L has already proven converts.

Phase 2, Months 6 to 18: Become the birthday party machine. The gel blaster area is the most underexploited asset on the property. Packaged birthday parties with per-head pricing, concessions, and upsells are the highest-margin revenue in outdoor recreation, and they book on weekends when the field has capacity anyway. Layer in seasonal events and night games.

Phase 3, Year 2 and beyond: Recover the peak. Getting back to the 2022 revenue level is not a growth fantasy; it is a restoration project with a documented blueprint. At the park's own historical 18.3% pre-debt cash margin, revenue recovery to peak implies annual owner cash flow in the $130K range, before any new revenue lines the prior owner never built.

The seller has not set an asking price. He is open to offers, and that flexibility is the real headline of this listing.

Anchor your thinking on three facts: roughly $420K of assets at original cost convey with the park, the trailing pre-debt cash flow is $79,361, and the proven ceiling is $137,979. A structure that respects the current numbers while paying for the upside through terms rather than headline price is exactly the kind of offer this situation invites. Bring us something serious and we will put it in front of the seller.

The hands-on operator or family. This is an outdoor business you run with energy, not from a laptop. For an owner-operator who wants a physical, community-facing business with a two-decade local brand, the work is marketing and hosting, and the P&L rewards both immediately.

The adjacent entertainment operator. If you already run an events company, a party venue, a laser tag or axe-throwing operation, or youth sports programming, this park is a bolt-on venue with the customer acquisition engine you already own.

The value buyer. Declining revenue plus motivated flexibility on price is the classic setup for buying assets and a proven location below replacement cost, then earning the turnaround.

To protect the seller's staff, customers, and community relationships, the park's name and exact location stay behind an NDA. The complete package includes income statements for 2020 through 2025, tax returns for 2021 through 2025, the balance sheet, and the depreciation schedule.

Reply to this email with the word PAINTBALL and we will send you the NDA. Once signed, the full package follows.

Serious buyers only. Proof of funds or lender pre-qualification will be requested before offer discussions.

Want to work with us directly on your own acquisition? At The Continental, we source, vet, and deliver deals built around your exact buy box, including turnaround opportunities like this one.

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