Before I pull the trigger... am I making a mistake?

No liquor and you want kids.... tough in many areas to get schools involved. Liquor pays the bills in most cases. You mentioned the other area room eventually getting liquor and increasing their size, a two step in their manner might be advice. Kids will never pay the bills, and your likely to only see them on weekend nights in most cases, especially if you hire a young high school gal to bring in her demographic. I've heard than only 20% of business's such as this survive, and you won't know till a couple yrs have passed. Make sure your able to get outta your lease, and that local ordinances don't require extra this or that before your open. I had to completely redo my bathrooms to code unexpectedly in one of my situations.

Before I pull the trigger... am I making a mistake?

I'm not a room owner, but my local hall sort of took the opposite approach and its working for them.

They don't have hot food. Just bottled drinks from a refrigerator and a vending machine with candy. It's BYOB and outside food is allowed. I talked with the owner why he doesn't have a small kitchen, as he packs the place with customers and they bring in their own pizza and cheesesteaks. He looked at the cost of all the kitchen gear, PLUS, needing extra employees to run it, and said he didn't want to deal with all that headache and the extra profit from the food didn't seem worth it.
good option, especially if there are a couple decent food joints nearby.

Going to try CF, any suggestions?

Understood. I know some that have them and they play just fine. I'm just going buy my experience with quality. I suggestion to look over the shaft for cracks a defects right away like you should with any shaft. Many of the inexpensive shafts have cracks or ferrule issue when they are totally new.
That's also why I tell people to get Rhino shafts from Amazon. It's a little more expensive that way but much easier to return if there are issues.

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