All that is true but plenty of rooms have closed at least partly because of uncontrolled rent increases or landlord sold the building to developers.
Yeah that can happen, but it doesn't usually happen overnight you know pretty much in advance when something like that's going to occur. Important thing is that you have no debt. Everything under that roof belongs to you Lock stock and barrel free and clear. You would hate to but you may have to move you can.
In the same respect what you describe the landlord doing such as selling the property to a developer can happen to you also if you own the building. At a point the property may not actually justify anymore housing a pool room.
A developer comes along and offers you a million + for the property, you will probably go out that front door so fast and tell him he can have a pool tables. That's just the way life works. There's never a guarantee.
There used to be a guy in Miami named Brownie. Some people on here may know who I'm talking about. He was somewhat famous for spinning the cue ball. He would bet all kinds of propositions. Weenie beanie used to bet with him very often when he was in town.
He's an old guy. He had about a dozen pool tables.Over the years I know him they were probably in at least three different poolrooms.
He can move a pool room faster than you could imagine. That a little refers to what I said in my other post about a formula to open a pool room.
Owning all your equipment outright with no debt storage somewhere maybe in a warehouse before you ever even have a location to put it.
All of the tables don't have to match they just have to be good commercial quality that you can pick up here and there over time. You give me a year I'll guarantee you I have everything required to open a pool room for like 20 cents on the dollar maybe less down to the last barstool..
These guys who go to the BCA show and make some deal with a pool table manufacturer and walk away like 150 Grand in debt before they've even started are guaranteed to fail. And then they open a room that's too big and elaborate like some kind of monument to themselves and then they go broke in 2 years.
A room that I sold which is now 42 years ago is still open and operating. It was 12 tables a beer service bar a few pinball machines and that was it only required 3600 square feet and I was open 24 hours a day. I just had to stop serving alcohol at 2:00 a.m.
This place was really a tight run operation. Small profitable one employee could run the whole place at any given time the rent was a reasonable. I had multiple clientele based on the hours. There was people that came in every day who probably never met other people who came in every day cuz they kept different hours.
My pool room was like something out of the past, like a room you might have walked into in a 1940s. I bought it it originally opened in 1959. When I bought it it didn't have a beverage license I managed to through some legal maneuvering put the beverage license in.
Which to be honest I knew I could do when I bought it the previous owner just didn't know how to go about it. In Fact he tried to sue me claiming that I stole his business but that didn't go anywhere.
I said quite a bit in the this posting but you can read between the lines and I see a pool room as a pool room. Not a palace not a monument just a place to come play the game and have some cold beer, low overhead if possible and easy to run as possible and no debt.
You're not going to get rich running a pool room as was said by someone in a previous posting here basically you're buying yourself a job, hopefully a good paying one. In my case that one little room was in fact by every definition gold mine.
My main point and I can't say it enough is no debt. You have to at any point if need be pack everything up put it in the warehouse and do it again somewhere else if you choose to. There's no guarantees in life.
