My friend built a new construction two story building, shop below and quarters above, about two thousand square feet each floor. She got bank financing by presenting a good business plan. She lives above the shop and has a one or two employees working the flower/gift/card shop downstairs. Hours are reasonable, 9-6 or 10-7 or thereabouts.
The old model of the owner and family living above or below the family business location would still work for some, especially for people who want to be close to their business all the time, or for people who are downsizing at retirement, or for any number of similar situations where are O.K. with living above or below their shop, and living in a space smaller than a McMansion. If I were single and had not so many outdoor pets this would be one scenario I would look into for my own pool hall investment. I would not worry so much about profit if I knew the pool room paid for my living quarters and basic expenses off the top.
Public transportation - that is what supported big city pool halls forever. When the one person-one car lifestyle began, big parking lots were needed, and this shut out many inner city older rooms. To have big parking, you have be next door to a big lighted parking lot, probably owned by someone else. You would need permission to park there, and security for those having to walk any distance to their car. Without adequate parking no business which needs to fill to the walls every evening for a few hours will thrive. We had a small pool hall open up in a location that should have drawn scores of junior college students - but it only had four parking spaces, maybe six in a pinch, ,and the nearest other parking was across the five lane street a hundred yards down the road. So it lasted two months or less, doomed to failure from the start by a bad business plan.
I will continue to read this forum, at some point I hope to see a room owner or former owner list the expenses and income stream and what worked or did not work for them.
I know that in-house gambling games kept some rooms open for a long time, but the various states have taken over the numbers games, and those one armed poker bandits are long gone now.
The old model of the owner and family living above or below the family business location would still work for some, especially for people who want to be close to their business all the time, or for people who are downsizing at retirement, or for any number of similar situations where are O.K. with living above or below their shop, and living in a space smaller than a McMansion. If I were single and had not so many outdoor pets this would be one scenario I would look into for my own pool hall investment. I would not worry so much about profit if I knew the pool room paid for my living quarters and basic expenses off the top.
Public transportation - that is what supported big city pool halls forever. When the one person-one car lifestyle began, big parking lots were needed, and this shut out many inner city older rooms. To have big parking, you have be next door to a big lighted parking lot, probably owned by someone else. You would need permission to park there, and security for those having to walk any distance to their car. Without adequate parking no business which needs to fill to the walls every evening for a few hours will thrive. We had a small pool hall open up in a location that should have drawn scores of junior college students - but it only had four parking spaces, maybe six in a pinch, ,and the nearest other parking was across the five lane street a hundred yards down the road. So it lasted two months or less, doomed to failure from the start by a bad business plan.
I will continue to read this forum, at some point I hope to see a room owner or former owner list the expenses and income stream and what worked or did not work for them.
I know that in-house gambling games kept some rooms open for a long time, but the various states have taken over the numbers games, and those one armed poker bandits are long gone now.
