middleofnowhere
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Deleted. While relevant not the time yet. Sorry
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Would you buy a pool room right now?
- Thread starter middleofnowhere
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No I woudn't but now is the time to begin planning. There's going to be a lot
of available space about this time next year. There will be some people that still want to
socialize so if you don't mind just paying the rent for awhile. This time next year would
be a perfect time to secure a good location. Everything goes in cycles. Buy low, sell high.
of available space about this time next year. There will be some people that still want to
socialize so if you don't mind just paying the rent for awhile. This time next year would
be a perfect time to secure a good location. Everything goes in cycles. Buy low, sell high.
As with any business, at any time, it depends on the financials and the reason for the sale.
It could be a wildly successful room with an owner simply ready to retire. Or it could be a room that was hanging on by its teeth even in relatively good times. Hell, even struggling businesses can be worth buying if you can identify why they were struggling and are confident that you can fix that...
It could be a wildly successful room with an owner simply ready to retire. Or it could be a room that was hanging on by its teeth even in relatively good times. Hell, even struggling businesses can be worth buying if you can identify why they were struggling and are confident that you can fix that...
Agree here. The ONLY way i would ever consider running a room would be if i owned the space. Rent is not going to go down folks. There will be some opportunities post covid but renting would not be for me.
Ah, but for the guy that can beat the odds....turn the tables, there's gold in them there hills.
You wanna roll those dice with YOUR cash??? Easy to say from the sidelines. Jump in with both feet, and bankroll, and open one up. Get back with us in a year or two.
You can find rooms for cheap as they can’t open due to the virus but at the same time pool is on the list of businesses that can be open in the last phase.
I made an unwise choice by trying to help a guy with a room that had alcohol it wasn't the room it was him that screwed it but I
learned a lot. I learned the Pool can make it but it needs the right paring and with it you need to want to be room bound to reap the benefit.
I'm retired and active right now. When I decide I'm done with a few things I may just do it. I'm writing up the plan and doing the research right
now, that might be valuable data for those that are curious. There are examples of rooms making where there are smart owners but Covid is
another deal, no deal during Covid however afterwards I still say that's a great time for it.
All good points made explaining why not to take on a venture like this. Unless you have the financial means to sustain a constant, steady stream of losses (which is highly unlikely, otherwise how did one acquire wealth thinking like that). But if you do have those means, there is nothing you can do to combat the biggest headwind you will face. Pool players are the cheapest SOB's walking the face the face of the earth. The majority of of players to enter your doors will be armed with a strategy to spend the least amount of money they can, all the while hanging out at your expense. It doesn't matter what kind of business plan you incorporate, they will bury you with their lack of financial support.
Reverse engineer that idea, by talking to owners in your State of desire sare your thinking on, find out the real fact of ownership,cleaning up, making a living, or a business like one that needs Pool Room Rescue.
BTW John Taffer did once Rescue a Pool Bar.
BTW John Taffer did once Rescue a Pool Bar.
Got that right. My home room has more free water drinkers than anyplace on the planet. Recreational players always spend more $$ than poolplayers. You gotta have the eatin'/drinkin' ballbangers to survive.
Well, this has to be true I guess as I kind of fit this description, but while I've been seen countless times renting a table for 10 hours plus, I've never loitered at a pool hall. But, I do only drink water but this is because anything else inhibits learning, so... I'm guilty but I'm not trying to bring down the pool hall. I just rent for X amount of hours learning what I can then leave. If I'm with someone I'll spend a little like $30 or $40 on food, but I won't be running up a drinking tab. On average, I don't like to spend more than $75 any given outting.
It's all about timing, in ANY business! Very soon the commercial real estate market will be at a low ebb, with an abundance of vacant buildings where there used to be a clothing or furniture store. It will be a "buyer's market" so to speak, and rental rates and sale prices will be at bargain prices. This I can almost guarantee you.
Like any other business you absolutely can make a nice living from a well run poolroom in the right location. I won't launch into a dissertation on here how to do it, but trust me it can be done. People are itching to get out and do things right now, as we all know. The poolrooms that still exist will be doing a good business soon, just watch.
I devoted a long chapter in my last book to how to set up and run a successful poolroom. Yes, I guess that's a plug, but it seems appropriate for this thread.
Like any other business you absolutely can make a nice living from a well run poolroom in the right location. I won't launch into a dissertation on here how to do it, but trust me it can be done. People are itching to get out and do things right now, as we all know. The poolrooms that still exist will be doing a good business soon, just watch.
I devoted a long chapter in my last book to how to set up and run a successful poolroom. Yes, I guess that's a plug, but it seems appropriate for this thread.
Well, I'm interested in commercial property right now but in my area commercial zones are being rezoned and turned into the ever popular condominiums. I live in city of a few million, but to run a successful business you need a decent size population, and if in those populated areas condo's are being thrown up left and right...
I don"t know obviously, but with so many small businesses folding in my area, now is a great time to be a condo developer and not a small business owner as all the land is going away, and it looks like quarantines will contribute to this trend long after quarantines stops. Of course this is just what I see in my area, but even buying a "home" is even more difficult due to the accessibility of communications as house flippers, condo developers, and AirBnB business ventures are exploding. It's great if you're one of them, but if you're not you're probably bidding against a bidder who lives 3000 miles away with very deep pockets. So what do you do, run, but what if you can't run?
Time will tell all, but I fear running any type of small business is now going to be harder than ever for a very, very long time as large developers will just swallow the vast majority of property.
Nope.
All that are profitable in my city are slightly upscale sports bars with 8 or so tables.
Pool halls here complain about lack of sales per player buy they never look in a mirror. They need to offer the customer something worth purchasing...that’s not burgers, fountain soda pop and dim lighting.
My wife and I are somewhat well off. If we play pool in a pool hall, we pay the table fee and that’s it. No way is she drinking non hygienic fountain drinks...and we don’t eat unhealthy greasy food. In contrast, we play at a sports bar then don’t hesitate to spend another $50. Soda pop in bottles, Spotless tables to eat on, etc. You have to get the wife or girlfriend into the door. That means clean and bright.
Personally? We have our assets in Cash related investments. I’d rather spend my days hiking, and fishing than in a unhealthy dingy pool hall counting receipts.
All that are profitable in my city are slightly upscale sports bars with 8 or so tables.
Pool halls here complain about lack of sales per player buy they never look in a mirror. They need to offer the customer something worth purchasing...that’s not burgers, fountain soda pop and dim lighting.
My wife and I are somewhat well off. If we play pool in a pool hall, we pay the table fee and that’s it. No way is she drinking non hygienic fountain drinks...and we don’t eat unhealthy greasy food. In contrast, we play at a sports bar then don’t hesitate to spend another $50. Soda pop in bottles, Spotless tables to eat on, etc. You have to get the wife or girlfriend into the door. That means clean and bright.
Personally? We have our assets in Cash related investments. I’d rather spend my days hiking, and fishing than in a unhealthy dingy pool hall counting receipts.
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Well most sucessful business do good if the owners understand customer service, marketing, and use of social media.
I know of a recent brasnkrupsy of two business that use to be great to deal with, Performace Bicycle & Bike Nasbar. Both were seperate businesses, their primary focus was catalog, then when the Internet came to be online sale.
Their down fall was opening B & M, and trying to grow bigger faster, so they went into B & M heavy.
Then apprently partnered with a Bicycle Company, now both business are gone, and they are history. Filed Brankrupsy.
Sometimes all it take is a bad decision, and something that should still be around, is gone for ever.
This is a very good thread...from many perspectives.