Pool Hall, Pool Bars, and Sports Bars with Pool

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ronscuba

AzB Silver Member
Silver Member
CocoboloCowboy said:
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Rule of law is that most new business fold in 12 months,

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Many people try to turn their hobby or personal passion into a business. They don't manage it as a money making business, they manage it with their hobby as the focus, have little to no business experience or business knowledge and don't understand why their business failed.

The rare few that are successful have found the proper balance. Proper location, current demand, sustained/growing demand, good economy and a lot of luck.

If you wanted to open a business to make money, forget about your personal hobby. Look around. What is in demand ? Is the demand greater than the supply ? Is there a good location ? What are the investment costs to open the business ? What is the estimated monthly business costs, monthly income and monthly profit ? How many months of profit will it take to recoup the investment costs to open the business ?

Think through and calculate all of that and does a pool hall come to mind ? I doubt it.
 
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CocoboloCowboy

Cowboys are my hero's
Silver Member
The bottom line is there is nothing wrong with doing what you love for a livelihood, but you need to justify your investment, your on going expenses, and have a profit to provide you a better life style than some homeless person living in a cardboard box.

Many business have great income, but when expenses do not have the owner making more than minimum wage for house invested weekly. The business is not a business IMHO, it is a hobby business.

The truth of how good a business is really doing is looking at their books. To see if they really are making or loosing money.

We had a dive bar in PHX called the “OX” it had 4-5 Valley Bar Boxes, it catered to local group, and host pool tournaments geared toward the “C” Players. The place did well, because the owner was creative like had free hot dog & Chip during football season. But the owner let the Ox get more and more divy. Finally the place close the door. I say the reason was lack of cleaning, lack of repairs, lack of business when recession hit hard.

Now the Ox joint the last of places in the Valley of the sun that re preeminently closed.
 
pogmothoin

pogmothoin

AzB Gold Member
Gold Member
Silver Member
In NJ a liquor license can cost $500,000 to a $1,000,000. No pool rooms that I know of here sell beer, wine or liquor. Some have food but nothing extensive.

Some towns allow BYOB, some do not. It's up to the town.

So pool halls in NJ have a very limited opportunity to make enough money to make it worth your time.
 
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CocoboloCowboy

Cowboys are my hero's
Silver Member
Well most of the pool room, pool bars, and sport bars with pool table in the Metro PHX area sell beer at a minimum. I can only think of one place that tried Pool without liquor. It was called "Sweet Tooth Billiards" their business plan was coffee, Expresso, and foo foo coffee drinks. The pool players walk across the parking lot to get their beer or liquor fix. After maybe a year Sweet Tooth went belly up as I could have predicted.
 
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CocoboloCowboy

Cowboys are my hero's
Silver Member
Ther truth is your professor had more book experence than most people in business who open ventures & go but the first or second year.

Honeslty a opening a B & M location is a major investment in Capitol be it a bike shop, pool room, or bar with pool tables.

Many romantic people put their life saving into something they think would be cool to have, but can not make a go of it because of fixed operating costs being more then revenues..

Honestly a 4.5 X 9 foot pool table take 300 square feet of floor space to be able to move around well. Ten table is an investment of a building of 4500 Sq FT because of room taken up by two prest room, storage are, and of cours an are for inventory & cash register etc.

If you are paying $30.00/100 SQ. FT. Rent that is almost $1,500.00 per month just for rent.
 
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ronscuba

AzB Silver Member
Silver Member
Good to have both knowledge and experience.

A sound business plan at a minimum includes estimates on operating costs, maintenance costs, income, profits, investment costs, return on investment timelines. The more accurate your estimates, the more accurate the plan will be.

This is really kind of basic stuff that surprisingly, many new business owners never do. As a result, most new businesses fail.

There are no guarantees of success or failure, but if you have the knowledge to create a sound business plan at least you can estimate the likelihood of success.
 
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