Play In A Tournament To Win My Pool Hall

Hey guys I know there are alot of questions to answer, but this is for real. Within a few days or so we will be releasing more info about the event, so hang in tight and keep posting questions so we can give u as much info as possible to answer your questions. THANKYOU
 
dragon81 said:
what's the name of the pool room? and what part of New Jersey is it in?
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We can start with the Room name, location, etc. And go from there!

It would be great if it was a No Pro's tournament. Anyone in the top 64 BCA Ranking can't play. And you are winning it for yourself and not someone who put you in the tournament.
 
No pros? Why, so you can win it, that's just ridiculous.

I've already contacted a top player about this thread. I'd put him in it, at any price, for sh!ts and giggles, because he has a realistic chance at beating anyone in the world.

Rg
 
Is this just the business? Or the property as well. Is there a liquor license, or a kitchen? A pool room without the building or kitchen equipment isn't necessarily an expensive operation. There is a pool room where I live that has 25 tables that I recommended a friend not give over 10k for. I am interested to see the details on this.
 
JB Cases said:
Assuming the new owner wins a turn-key business that is free of debt then I see this as a great way to attempt to sell a pool room - EXCEPT that the quality of the players signed up is going to limit participation.

For example I would like to own your pool room and I have $1000 to throw at it - but I am not signing up if Johnny Archer is signed up as well. Now I might get another top pro to play for me, so I suggest that you make sure to put it in writing clear as day that the WINNER of the pool room is the PERSON who plays and any deals between THAT person and third parties have nothing whatsoever to do with you.

It would be quite interesting to see a tournament full of top players vying for a poolroom. First time ever that they played to get a job :-)
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Hmmmmmmmm, can you say "stall":scratchhead:
 
rainman432 said:
Basically the winner of this tournament will win my pool hall located in Northern New Jersey. I am currently working on the format and date. Any feedback, both positive and negative would be appreciated.
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WOW!!! Is this guy for real, a fake or a deceiver???:eek::o
 
Thank you

Thanks again for the replies.
JB Cases you cracked me up with that job comment.
I don't have any details etched in stone as of yet. Hopefully with some input from the fine members on this forum I can do this so it will be fair to all who enter.

We plan to have a quality director and refs.
Any ideas on a format?

Thank you for taking the time to reply.
 
muttley76 said:
Is this just the business? Or the property as well. Is there a liquor license, or a kitchen? A pool room without the building or kitchen equipment isn't necessarily an expensive operation. There is a pool room where I live that has 25 tables that I recommended a friend not give over 10k for. I am interested to see the details on this.
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Well tell him I'll give him 10k for it, just for the stinking tables!

On topic.....I would imagine all the stuff in the pool room is worth something.... so you are playing for at least 20k in merchandise and equipment alone.
Yea I would put up a grand to make 25k or more! Don't care who is playing.
 
Question

rainman432 said:
Hey guys I know there are alot of questions to answer, but this is for real. Within a few days or so we will be releasing more info about the event, so hang in tight and keep posting questions so we can give u as much info as possible to answer your questions. THANKYOU
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You had said that you were working out the details with your attorney. I was just wondering what the NJ laws were for an out-of-state small business ownership? Some states require a residency requirement in order to own a small business, same goes for liquor licenses (some can be up to 5 years). Food handling also requires licenses, so whomever, takes over will need to get to speed pretty quickly unless you help with transition for this person to get licensed accordingly with state and federal licensing requirements.

I was working under the assumption that you would allow the tournament to played by any legal U.S. resident.
 
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rainman432 said:
Thanks again for the replies.
JB Cases you cracked me up with that job comment.
I don't have any details etched in stone as of yet. Hopefully with some input from the fine members on this forum I can do this so it will be fair to all who enter.

We plan to have a quality director and refs.
Any ideas on a format?

Thank you for taking the time to reply.
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Format? Either 10ball or single elimination 14.1, race to 300 (instead of short race double elim.

How many tables in your room? Liquor license, food?

Rg
 
Aside from the entry fee, the IRS is going to want their cut, and that is based on what the business is worth, not what you paid for it. We deal with this during fundraisers for St Jude. Many people spend $100 on a ticket to win the Dream Home raffle, but the winner doesn't realise they owe taxes on the value of the home immediately after winning and end up just selling the home.

Also, I wish I could go back to sleep... dang baby's bladder death grip :(
 
Sweet Marissa said:
Aside from the entry fee, the IRS is going to want their cut, and that is based on what the business is worth, not what you paid for it. We deal with this during fundraisers for St Jude. Many people spend $100 on a ticket to win the Dream Home raffle, but the winner doesn't realise they owe taxes on the value of the home immediately after winning and end up just selling the home.

Also, I wish I could go back to sleep... dang baby's bladder death grip :(
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St Jude is a great charity, my favorite in fact. There is absolutely no way this, if the man is really genuine, will get it off the ground. Sorry, but it is way too complicated.

You would have better luck putting it on Ebay.
 
pescadoman said:
St Jude is a great charity, my favorite in fact.
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I'm in my third year volunteering for them and I love it. By the way, AZB's own Omega Billiards donated a cue and case which were auctioned off at our benefit last year :thumbup:

But I agree... lots of factors involved for this. Taxes, licenses, lease, residency... it'll be hard to pull off.
 
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