Leasing a pool hall

I met with the guy today.I can lease the building for very little money and he'll leave everything in there.It's pretty well turnkey except for a couple things I will need a 3 compartment sink and some kind of grease trap.The bathrooms are new as is the central heat and air.The place isn't very big but I think it has potential to make a little bit off of it.One of the main things I didn't like is since there are only 4 tables,I wish they were all the same size.That can be changed I guess but may not be worth the hassle and cost.
It has a live bait shop that has been built off to the front part of the building which I would get as well.Everything is there for the bait shop including the river.lol.The other closest place for bait and license is 20 miles away.I don't know how much profit is on a minnow or a worm but I may get a chance to find out.

Thanks for all the replies and as soon as I make a decision on this I'll let ya'll know.
 
Sounds like you have a chance to get your feet wet in a business that you would like to be in.

You can add more tables. People love home made food, you might catch the working crowd for dinner.

Nothing wrong with chili, soup and a sammy.

You most likely won't make a ton on bait. He will have to give you his suppliers contact.

You can always supplement that with some fishing line, lures etc.

Just do your home work like people have been telling you. I got myself into one heck of a good business which I still have and one that I lost a ton on and will be paying for for some time in the future. Wished that I would have slowed down on that one and thought a bit more.


When I was driving a truck, I would run into many small towns that had stores that sold Beer, Ammo and Bait.

You live in Kentucky, how could you go wrong with that combo.

Anyway, sounds like you are excited, Good Luck and Have Fun. You may never get rich but as long as yer Happy, thats one of the main things in life.
 
Very funny the fish and sticks!I'm really thinking about Racks and Snacks.I'm serious about that one.Thanks for the wishes Bluhog.
I will probably decide later today.No since sitting on the pot if ya know what I mean.
 
They should make this thread one of them stickys. Lots of great info for anyone thinking about running or owning a pool room. I thought about it one time and now after reading this
I have made up my mind:thumbup: John B.
 
John Brumback said:
They should make this thread one of them stickys. Lots of great info for anyone thinking about running or owning a pool room. I thought about it one time and now after reading this
I have made up my mind:thumbup: John B.
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Me too, John. My bait shop will be opening soon, how about you? :wink:
 
names

i own a jewelry store. but build pool cues also. diamonds are sometimes called stones, so my buddy suggested i should change the name of my store to " sticks and stones "
 
Ok bflvs,that kind of sounds like a dig at the live bait at the place but so be it.It's for sure pool ain't gonna pay the bills so anything else that's already there and the guy said he was making money on,Imma try it.
I have made up my mind that I am gonna do this thing.So,starting next week I will get started trying to get her ready for business.Should take about 2 weeks to get it opened up because as some of you know I also have to tryo to get my pool room addition here at home finished as well.
Thanks for all the well wishes!
 
Colormegone2002 said:
Ok bflvs,that kind of sounds like a dig at the live bait at the place but so be it.It's for sure pool ain't gonna pay the bills so anything else that's already there and the guy said he was making money on,Imma try it.
I have made up my mind that I am gonna do this thing.So,starting next week I will get started trying to get her ready for business.Should take about 2 weeks to get it opened up because as some of you know I also have to tryo to get my pool room addition here at home finished as well.
Thanks for all the well wishes!
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PM replied bud, best of luck!
Matt
 
Bella Don't Cry said:
Employ an expert to ask the questions. The cost may seem expensive, but not as expensive as hindsight... :thumbup:
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+1...whether it is someone who has done this before, or someone with the credentials...pinching pennies and not doing this may be very costly unless you have the experience/knowledge of asking any and all questions that need asked or researched before doing this.

PaulieB said:
You need booze and parking.
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Valid necessities but need to be elaborated (when OP looks into this)

TATE said:
Leasing is tricky business. Here are the questions when leasing:

- The length of the lease. You will be obligated to pay rent for the duration of the lease no matter what happens to your business.

- what is included. For example, any utilities, trash pick up.

- are there obligatory monthly fees, like taxes, alarm fees, maintenance?

- who is responsible for repairs and maintenance for the major components, heating and AC, plumbing, electrical.

- who pays for the property insurance? (usually the building owner). Do you need additional third party renter's insurance, for example, in case of a fire that starts in your kitchen and you get sued by the owner's insurance carrier?

- are there rent increases for cost of living, or is the rent fixed?

Leases are negotiable. Let's say you decide to lease the space for 2 years, but it needs carpet, drapes, paint, signs, a new built in oven or stove. The bathroom needs to meet modern handicapped code and a wheelchair ramp must be installed. You could ask the owner to make these improvements as terms of your lease. The owner will own them when the term is over, so it's unfair that you have to pay for all these items yourself.

The most difficult thing about a business is having a viable financial model and getting customers. Have a great plan before you sign on the dotted line.
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Great points Tate...you have somewhat of a business mind. While there are more questions to be asked in regards to leasing Tate has mentioned some good ones. Well said sir.

lowriderjim said:
When buying a small business, at best, you are only buying yourself a job.

Do not take a partner. Even a trusted partner may want to take the business in a different direction which can cause problems.

Do a SWOT analysis. Strength, Weakness, Opportunities, Threats. You should get info by google SWOT. Better yet, find a MBA student that might agree to do a business analysis as a project.
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Some of this is good...but not taking a partner is not necessarily a good thing. OP may not have appropriate capital to NOT have a partner. Of course when selecting a partner appropriate contracts/details may need to be ironed out.
 
Is this poolroom/bait shop going to be in Muhlenberg county? I don't know about owning a poolroom but I have bought lots of live bait. Minners lol, I like my bait shop open before daylight and late in evening when fishing is the best. There is a lot to know about keeping minnows alive and healthy. You must have a good system to keep the water cool, clean and well aerated. If you make it non-smoking I will be a good customer. I live near your location.
 
Did the previous proprietor have good wholesaler relationships you can leverage?

Spend some quality time doing homework on what tackle "really" sells and try not to avoid stocking too many items that will sit on your shelves or hang on your hooks for years and years in your bait shop... Maybe join a fishing forum if you haven't already. Seems a good way to get free advice from core people really into the subject.

If I were opening a small pool room, I'd want it to have wifi for people to use their smartphones or bring laptops to hang out. Also, basic cable TV so you can show televised sporting events. They're so cheap nowadays, you can strategically mount a TV or two up in a couple of the corners. Hook one up to a PC so you can have a basic web-computer running a slide show of billiards images, show Youtube clips or live streams of pool matches from time to time, or even play the occasional pool movie on DVD.

A really good coffee maker is critical....

Are you going to go old school and make it a quiet pool room?

I'm not up on what it takes for a commercial establishment to play music, but all you need to make some background noise is a basic receiver with corner placed speakers in the right places and just play the radio at a low to moderate volume. Or, see if your cable provider offers the music channels and you can play those and eliminate commercials. I've seen lots of audio receivers at dirt cheap prices in pawn shops and thrift stores.

Even better, start watching craigslist in nearby cities for a jukebox that people can feed money into for you... Preferably one that uses CDs, also available so cheap in thrift stores that it's not even funny.

I have no idea what your budget, but some of these things can happen gradually over time, and are not nearly as expensive as they sound.... Research what is good, and buy good used stuff with plenty of life still left in it.
 
Colormegone2002 said:
I met with the guy today.I can lease the building for very little money and he'll leave everything in there.It's pretty well turnkey except for a couple things I will need a 3 compartment sink and some kind of grease trap.The bathrooms are new as is the central heat and air.The place isn't very big but I think it has potential to make a little bit off of it.One of the main things I didn't like is since there are only 4 tables,I wish they were all the same size.That can be changed I guess but may not be worth the hassle and cost.
It has a live bait shop that has been built off to the front part of the building which I would get as well.Everything is there for the bait shop including the river.lol.The other closest place for bait and license is 20 miles away.I don't know how much profit is on a minnow or a worm but I may get a chance to find out.

Thanks for all the replies and as soon as I make a decision on this I'll let ya'll know.
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I had to put in a grease trap once. It was like a small septic tank underground. It cost me $3500.00 and that was 30 years ago.
 
2800 sq ft is actually pretty small. Do the math. Think about table size and room required around each table. I honestly don't think it's worth it. If you're going to do it, find an investor and go all out. Doing something this small trying to make money would discourage you.
 
a.jin88 said:
2800 sq ft is actually pretty small. Do the math. Think about table size and room required around each table. I honestly don't think it's worth it. If you're going to do it, find an investor and go all out. Doing something this small trying to make money would discourage you.
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To be honest, the last thing he needs is a partner. There is only going to be so much income to be made as it is, the last thing he needs is to have to split it. Also, depending on the layout columns and so forth, he can get quite a few tables in that space. If it is a clear 50 x 55 of so probably 10 or 12 tables.

With a dirt cheap nut and working himself maybe one employee there may be an income there worth doing it for. Of course that all depends on if there is even a demographic period. In other words, who are your customers going to be, if there are any.

About a year ago I found an old funeral home that has been closed for some time. I can have the place for like $110,000.00 lock stock and barrel plus 2 acres of land. I thought about the possibility of a pool room. Plus, I was going to live there it has a nice living area. There was oodles of room. I just could not get past it being like 5 miles outside of town.

This is in rural North Florida. I have to be honest, the funeral home thing kind of creeped me out a bit especially the embalming room that I planed on turning into a kitchen.

You know, I would really like to see the place the OP is talking about. If he wants to IM me with more information I would like to hear all the details. It is hard with what we have heard so far to really have an honest opinion.
 
I have to be honest, the funeral home thing kind of creeped me out a bit especially the embalming room
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The Embalming room has a special presence doesn't it, even if it isn't occupied.

Many days I would be the first one in, in the morning and the last one out late at night.

If I was working in the Embalming room by myself, trust me, I looked over my shoulder more than once.

Doors opening and closing when no one was with me on one occasion. Sometimes you just felt that you weren't alone.

One night, I had a guys arms over his chest. I walked around to the other side of the table, his left arm slipped off his chest and I walked into it as I was walking past. I freaked a bit.
 
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jalapus logan said:
Is your room going to be located down by the green river where paradise lay?
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Lol,actually it is right beside the green river but 30 miles from where paradise lays
Great advice from all you guys and thanks for taking your time to give me some insight.
I went today and met the owner himself today.We had a great long talk and what a hell of a guy.He's been in n out of the business for many years.He offered alot of advice to try and help get me going,since he knows the area.I'm pretty sure we are gonna go ahead on this,if so I hope to be opened by mid March.
crappie guy,that sure is early but you're right.If you wanna sell bait you gotta be there early for the peoples.The building is in Livermore in McLean Co,within 2 blocks of the river.
I will also have hot coffee and something for breakfast.
I will post more info soon and thanks again you guys!!
 
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