I am a new poolhall owner. What would be some advice to a new owner?
www.centerpocketlc.com
Follow the money and not the suggestions. Be flexible in what brings in the money. If darts and foosball bring in high dollars, treat those customers great even if it means taking out a pool table. You will always get thousands of suggestions from people who have never owned and started a business, listen to the people who actually have run a business.
Small things add up. Both in income and in losses. Being on top of theft (in all its different definitions) is crucial. People will steal and if it goes unchecked it will be considered "expected" in the future. Grabbing your chalk, topping off a beer, "warming up" on a pool table without clocking on. It all adds up.
Same with income. Self service vending machines. Don't take up much space but eliminates theft and keeps employees free to do more service related work.
Buy when you can, rent when you must. Owning a small building has more potential than renting a large one. The building can always be converted to another business later.