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View Full Version : business input please..


tigerseye
06-20-2010, 10:28 AM
Just wondering if there were anyone here that had a diffcult time getting a business loan for thier poolroom...:D

cuesmith
06-20-2010, 10:41 AM
Just wondering if there were anyone here that had a diffcult time getting a business loan for thier poolroom...:D

I only know of a few people in 30 years around the business who got a business loan to open a poolroom. Most were financed by family members, cashed in retirements and inheritences or the sale of another type of business. Once you're well established and don't need any money, then the banks are willing. But frankly I can't blame them when 3 out of 4 small businesses fail withing 5 years and the pool business being so seasonal, it's a really tough way to make a living. I've owned 2 poolrooms and a pool bar and believe me, it's buying a job, at best! Sorry to be so blunt and I know I'll get ripped for dousing someones dreams of owning a poolroom, but I'm trying to be brutally honest. People just don't understand the full cost of doing business. They see a poolroom when it's jammin and think of all the money it's making and do not realize they're playing catch-up trying to keep the lights on!

barber23
06-20-2010, 10:46 AM
The person you may want to talk to is Mike Page from Fargo Billiards.

Chad