I.Overview of the industry:
    a. Differences from bar/restaurant valuations;
    b. Similarities to restaurants; and
    c. Projections in an uncertain economy.

II. Reliability of financial data:
    a. The importance of point-of-sale reports;
    b. Disaggregating the gross profit;
    c. The difficulty of benchmarking;
    d. Forensic considerations; and
    e. Profit margin adjustments.

III. Normalizing the financials:
    a. Related-party transactions;
    b. Personal nonbusiness transactions;
    c. Accounting differences;
    d. Officer compensation; and
    e. Nonrecurring/nonoperating items. 

IV. Valuation approaches:
    a. Asset approach;
    b. Income approach; and
    c. Market approach.

V. Special considerations:
    a. Franchises:
    b. Types of licensing—liquor, entertainment;
    c. Startups;
    d. Digital currencies; and 
    e. Legal protection of the name, logo, etc.

VI. Selection of best method:
    a. Asset approach—when is it the preferred method; 
    b. Income approach;
    c. Market approach; and
    d. Reasonableness check.

VII. Case law involving nightclubs:
    a. In re Case No. 800 Bourbon St., 2015 Bankr. LEXIS 3963;
    b. City of San Antonio v. El Dorado Amusement Co., Inc., No. 04-04-00638-CV (Tex. App. 2006);
    c. 376599 Alberta Inc. v. Tanshaw Products Inc., 2005 ABQB 300; and
    d. Christou v. Beatport, LLC, 2013 U.S. Dist. LEXIS 9034.

• List unique considerations for bars and nightclubs, with comparison to other restaurant valuations;
  
• State how the industry and economic forces such as consumer spending and inflation are affecting the product costs, employee wages, and expected profitability;
  
• Describe ways to handle situations involving unreliable financial information; and
  
• List other specialized topics such as licensing, digital currencies, and select case law examples.