My own billiard room

Snapshot9

Snapshot9

son of 3 leg 1 eye dog ..
Silver Member
like to get some feedback about a problem I have:

One of my long standing dreams is to open my own billiard room.

I have wide experience in business, including Accounting, and I am an
expert in Computer Systems (24+ years).

I have been on disability for some time now, and out of the work force.
I no longer have many assests, like a house, etc. except for a car.

How can I go about getting the necessary financing for my own
Billiard room?

I was until recently working on my masters degree and know how to
put a business plan together...

I have all kinds of ideas for it from the theme for it, to events I would
sponsor ...

I have a general location for it that has no competition, and is in an
upscale area of the city, which is Wichita, Ks. (NW area - close to New Market Square, the 3rd largest shopping area of Wichita).

Just off the top of my head, no hard figures, I am estimating it would take
500,000-600,000 dollars to launch it ...
 
R

Raodwarior

Room owner
Silver Member
Best of luck to you. We are launching our new room in August of this yr for less than 35 K. If your figuring half a mil this should be one fantastic room.
 
cuesmith

cuesmith

BEEN THERE, DONE THAT!
Silver Member
Billy_Bob said:
May want to try here...

http://www.sba.gov
Click to expand...

Having owned a couple of poolrooms, one I started from scratch, I'd have to say your chances of bank or SBA financing are extremely slim! About the only way they will be of much help, is if you practically don't need the financing to begin with!

Also, having owned a couple of poolrooms, I'd have to compare the experience to that of "boat ownership"! It's much better when someone else owns the boat and you're the guest, and the happiest days for a boat owner is the day he buys it and the day he sells it!

Quite frankly, to run a sucessfull poolroom, requires much more effort than it's worth, from a monetary standpoint. It's just not as rosey of a proposition as it may seem! Been there, done that!

Sherm
 
Teacherman

Teacherman

AzB Silver Member
Silver Member
cuesmith said:


Having owned a couple of poolrooms, one I started from scratch, I'd have to say your chances of bank or SBA financing are extremely slim! About the only way they will be of much help, is if you practically don't need the financing to begin with!

Also, having owned a couple of poolrooms, I'd have to compare the experience to that of "boat ownership"! It's much better when someone else owns the boat and you're the guest, and the happiest days for a boat owner is the day he buys it and the day he sells it!

Quite frankly, to run a sucessfull poolroom, requires much more effort than it's worth, from a monetary standpoint. It's just not as rosey of a proposition as it may seem! Been there, done that!

Sherm
Click to expand...



Smart man.
 
sixpack

sixpack

AzB Silver Member
Silver Member
Snapshot9 said:
like to get some feedback about a problem I have:

One of my long standing dreams is to open my own billiard room.

I have wide experience in business, including Accounting, and I am an
expert in Computer Systems (24+ years).

I have been on disability for some time now, and out of the work force.
I no longer have many assests, like a house, etc. except for a car.

How can I go about getting the necessary financing for my own
Billiard room?

I was until recently working on my masters degree and know how to
put a business plan together...

I have all kinds of ideas for it from the theme for it, to events I would
sponsor ...

I have a general location for it that has no competition, and is in an
upscale area of the city, which is Wichita, Ks. (NW area - close to New Market Square, the 3rd largest shopping area of Wichita).

Just off the top of my head, no hard figures, I am estimating it would take
500,000-600,000 dollars to launch it ...
Click to expand...

Scott,

Sounds like you're on the right track. Don't let anybody talk you out of it if you want to do it. For good advice, counseling and coaching, contact your local SCORE chapter. www.score.org. They are an association of retired businesspeople who like to help startups.

It's been a while since I was in Wichita, is that over by the zoo? I remember there being no pool halls on the north side when I was there.

Good luck and I hope to come play at your establishment some day.

Regas
 
bobroberts

bobroberts

Pool player
Silver Member
If you can get the financing,you can do really well with the proper gameplan.Theres a room near me that brings in at least $10k a week.Thats on the slow weeks.Dont listen to Dickman oops I meant teacherman,he is the most negative poster on this forum.
If you set it up right there is always money to be made.Jusst remember.Location,Location Location
 
Zagiflyer

Zagiflyer

Mr. 15
Silver Member
The best way to make a small fortune in the poolrrom business is to start with a large fortune :)
 
Jack Flanagan

Jack Flanagan

P. T. Barnum was right !
Silver Member
cuesmith said:
....and the happiest days for a boat owner is the day he buys it and the day he sells it!

Quite frankly, to run a sucessfull poolroom, requires much more effort than it's worth, from a monetary standpoint. It's just not as rosey of a proposition as it may seem! Been there, done that!

Sherm
Click to expand...


I agree, sherm,,,,just finished closing my poolroom,,,,"Free at last, Free at last",,,,took a little trip last night, played in a tourney, won the damned thing !,,,,no worries = relaxed shooting = a WIN,,,,why didn't I get out of this business sooner ? :D
 
D

drivermaker

Banned
Have you clearly identified your reasons for fulfulling your dream?

a. to make your millions and retire with no worries

b. to have a place to play 24/7

c. to have a fun atmosphere that you can go to everyday

d. to work either short hours or extremely long hours

e. a labor of love spawned from the game itself

f. to be an equal opportunity employer

g. to give something back to the community

h. to have an opportunity to buy food and booze at wholesale

i. other
 
Matt_24

Matt_24

AzB Silver Member
Silver Member
Snapshot9 said:
like to get some feedback about a problem I have:

One of my long standing dreams is to open my own billiard room.

I have wide experience in business, including Accounting, and I am an
expert in Computer Systems (24+ years).

I have been on disability for some time now, and out of the work force.
I no longer have many assests, like a house, etc. except for a car.

How can I go about getting the necessary financing for my own
Billiard room?

I was until recently working on my masters degree and know how to
put a business plan together...

I have all kinds of ideas for it from the theme for it, to events I would
sponsor ...

I have a general location for it that has no competition, and is in an
upscale area of the city, which is Wichita, Ks. (NW area - close to New Market Square, the 3rd largest shopping area of Wichita).

Just off the top of my head, no hard figures, I am estimating it would take
500,000-600,000 dollars to launch it ...
Click to expand...

Hmmm....if you're experienced in accounting you would not list a car as an Asset, but as a liability. That is just my Principles of Accounting I and II knowledge speaking. An asset is an investment that yields a return. A car is NEVER such an investment unless you're buying a high dollar sports car as an investment/collectible and never plan on driving it much, but that is besides the point.

If you think it's going to cost 600K to launch, I would suggest you have have 20% of that amount in readily liquidated assets or cold hard cash. I could see you having a hard time getting approved for a loan with being on disability for a while, and having NO assets of your own. Everyone knows how banks are...what security would they have in loaning you that money. You never know though, I could be wrong. I always hope that everyone's dreams come true. I'm just stating an honest opinion based on the facts you've given.
 
S

StatMan

Registered
Matt_24 said:
Hmmm....if you're experienced in accounting you would not list a car as an Asset, but as a liability. That is just my Principles of Accounting I and II knowledge speaking. An asset is an investment that yields a return. A car is NEVER such an investment unless you're buying a high dollar sports car as an investment/collectible and never plan on driving it much, but that is besides the point.
Click to expand...

I think you're wrong Matt, an ASSET is anything owned by an individual or a business, which has commercial or exchange value. Assets may consist of specific property or claims against others, in contrast to obligations due others.
 
Matt_24

Matt_24

AzB Silver Member
Silver Member
StatMan said:
I think you're wrong Matt, an ASSET is anything owned by an individual or a business, which has commercial or exchange value. Assets may consist of specific property or claims against others, in contrast to obligations due others.
Click to expand...

Ok.....it's been a while since I've cracked my accounting or business law books...so maybe I got the terminology confused.

My point being, if you only own a car...and you want to launch a $600,000 business...you're basically not going to get financed. Would you agree with that? It's like the old term: Sh*t in one hand and wish in the other and see which fills up quicker.

I still don't think a loan officer would view a dailey driven automobile as an Asset. If he sold the car and had some cash in a savings account...that would be an asset.

Thanks for the accounting refresher. I always hated those classes..LOL.
 
S

StatMan

Registered
Matt_24 said:
My point being, if you only own a car...and you want to launch a $600,000 business...you're basically not going to get financed. Would you agree with that?
Click to expand...

No arguement there. He's probably going to have to find a partner that either has the dough or has some collateral to get the dough.
 
Teacherman

Teacherman

AzB Silver Member
Silver Member
bobroberts said:
...room near me that brings in at least $10k a week.Thats on the slow weeks....
Click to expand...

There you have it. $10k per week is automatic success. Go for it.

And, if you don't like what happens contact bobroberts.

But if you don't trust him............

Add up your projected expenses, compare to projected revenue.

Don't be surprised if $10k per week is not enough.
 
watchez

watchez

What time is it?
Silver Member
If you were able to get $500,000 with no assets based on a well written business plan, consider yourself a genius. But my big question is that you brought up the point that you haven't worked in quite some time because you are on disability. You didn't state what your disability is but now you think you are up to running a half million dollar business every day. So, please contact your caseworker & let them no that you no longer need my tax dollars for support. Tell them you are ready to rejoin the working force and are going to make your own money. Then my suggestion to you is this: you are probably used to being on disability so if you get the $500,000 invest in low risk stocks & guarantee return money investments. This should bring you about 10% a year. Then you are making $50,000 a year for doing the same thing you are doing right now.....nothing.
 
CaptainJR

CaptainJR

Shiver me timbers.
Silver Member
The amount of money your talking about leads me to believe it would include a liquor licensee. Or at least a beer licensee. That would be the key to success I would think
 
Teacherman

Teacherman

AzB Silver Member
Silver Member
For the amount of money he's talking about a liquor license is very important.

However, if you would compare successful alcohol pool rooms v successful no alcohol pool rooms, you might be surprised at which makes the most money.

There is a standard line going around that "alcohol is where you make your money". I tend to disagree. It obviously plays a role or you wouldn't sell it. But, are you a billiard room with a bar................or a bar with pool tables?????

Very important question.
 
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