AzBilliards.com  
Register Blogs FAQ Members List Social Groups Calendar Search Today's Posts Mark Forums Read

  
Go Back   AzBilliards.com > Main Category > Room Owner Discussion
Reload this Page Looking For Funding
Reply
 
Share Thread Tools Rate Thread
Old
  (#16)
ideologist
I don't never exaggerate
ideologist has a reputation beyond reputeideologist has a reputation beyond reputeideologist has a reputation beyond reputeideologist has a reputation beyond reputeideologist has a reputation beyond reputeideologist has a reputation beyond reputeideologist has a reputation beyond reputeideologist has a reputation beyond reputeideologist has a reputation beyond reputeideologist has a reputation beyond reputeideologist has a reputation beyond repute
 
ideologist's Avatar
 
Status: Offline
Posts: 5,331
vCash: 500
iTrader: 120 / 100%
Join Date: Nov 2012
Location: Bay Area
   
03-24-2019, 08:02 AM

Quote:
Originally Posted by jasonlaus View Post
Doesnt Diamond do a lease of their tables or something like that? You wouldnt need any money for tables, which I would assume would be one of your biggest expenses.
Jason
The No Excuses program, you need the proper business filings, they can explain more if you call


Make sure you check your references before you buy on this site. Even a mod here engages in bad business!
  
Reply With Quote
Old
  (#17)
Bigdaddi44
AzB Bronze Member
Bigdaddi44 is on a distinguished road
 
Status: Offline
Posts: 8
vCash: 500
iTrader: 0 / 0%
Join Date: Jan 2016
Location: Northern California
   
03-24-2019, 09:39 AM

I'm contacting them in the morning.
  
Reply With Quote
Old
  (#18)
jeephawk
AzB Gold Member
jeephawk has a reputation beyond reputejeephawk has a reputation beyond reputejeephawk has a reputation beyond reputejeephawk has a reputation beyond reputejeephawk has a reputation beyond reputejeephawk has a reputation beyond reputejeephawk has a reputation beyond reputejeephawk has a reputation beyond reputejeephawk has a reputation beyond reputejeephawk has a reputation beyond reputejeephawk has a reputation beyond repute
 
jeephawk's Avatar
 
Status: Offline
Posts: 116
vCash: 500
iTrader: 0 / 0%
Join Date: Dec 2018
Location: Iowa
   
03-24-2019, 06:46 PM

Quote:
Originally Posted by GoldCrown View Post
Good post. And again a person has to be a good/great promoter. Itís strictly a business to make money. How much can be made? May I suggest buy some kind of franchise that will generate funds almost immediately. If the poolroom was an existing business with customers that could work. As for a new start up....Itís hairy.
Yep.

And if a franchise isn't available and you aren't buying an established "room", you still, with a willing seller, have the possibility of buying the building on contract - seller becomes the bank as far as the real estate goes, a little higher interest rate but sometimes very little down - all depends, but a good way to buy if you can't get "traditional" financing on the real estate end of things. Same goes, of course, for buying an established room, but again, sounds like you are starting fresh, so to speak. Also an option vs. a long term lease - gives you an opportunity to build some equity and eliminate some of that risk of being a tenant.
  
Reply With Quote
another option
Old
  (#19)
joelpope
AzB Gold Member
joelpope has a reputation beyond reputejoelpope has a reputation beyond reputejoelpope has a reputation beyond reputejoelpope has a reputation beyond reputejoelpope has a reputation beyond reputejoelpope has a reputation beyond reputejoelpope has a reputation beyond reputejoelpope has a reputation beyond reputejoelpope has a reputation beyond reputejoelpope has a reputation beyond reputejoelpope has a reputation beyond repute
 
joelpope's Avatar
 
Status: Offline
Posts: 1,294
vCash: 1700
iTrader: 57 / 100%
Blog Entries: 1
Join Date: Apr 2010
Location: Orlando, FL
   
another option - 05-26-2019, 06:32 AM

You may have better luck trying to find an existing room owner that is looking to sell. There are many advantages to taking this route.

1) you can work there and will learn about the business for real before committing all of your financial resources

2) after proving yourself to the owner by working there, the owner may finance some of the purchase price

3) banks look at historical cash flow from an existing business more favorably than a start up business plan.

4) there is less "risk of the unknown" taking on an existing business than trying to build one from scratch. Especially as it relates to how much working capital you need. Working capital can be significant in a start up since you will not cash flow positive when you open your doors.

5) you may be able to "inherit" some league play which is typically part of being profitable in today's pool hall reality. As a start up you have to acquire league play which is not always easy

Good luck


Playing cues: Searing, Nitti, Southwest, & Dayton
Break cues: Searing & Predator
Jump cues: my own design and build
Cases: Justis & JB

Last 4 Ever Tip Tool web site
http://last4ever.com
  
Reply With Quote
Old
  (#20)
doitforthegame
AzB Silver Member
doitforthegame has a reputation beyond reputedoitforthegame has a reputation beyond reputedoitforthegame has a reputation beyond reputedoitforthegame has a reputation beyond reputedoitforthegame has a reputation beyond reputedoitforthegame has a reputation beyond reputedoitforthegame has a reputation beyond reputedoitforthegame has a reputation beyond reputedoitforthegame has a reputation beyond reputedoitforthegame has a reputation beyond reputedoitforthegame has a reputation beyond repute
 
doitforthegame's Avatar
 
Status: Offline
Posts: 1,481
vCash: 500
iTrader: 32 / 100%
Join Date: Nov 2004
Location: Taxachusetts
   
05-27-2019, 04:45 PM

Quote:
Originally Posted by ideologist View Post
The No Excuses program, you need the proper business filings, they can explain more if you call
They require about 25% into the transaction for shipping, setup and equip.

Startups can be done if your credit is decent (ie around 650+) with leasing companies. Usually require 1 or 2 payments in advance and doc fees.

Expect to pay high credit card type rates. For some reason people go into these things thinking they will get 6 or 8% type rates. They are stunned when I explain that startups are high risk credits and get high rates. Established business (over 2 years) and good credit equals good rates.

Bob
www.leasefundings.com
  
Reply With Quote
Reply

Thread Tools
Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump



Powered by vBulletin® Version 3.8.9
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
vBulletin Security provided by vBSecurity (Lite) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.