[evely]

Hi...this is my first post and let me start by saying... what a great site!!!...... ... my partner and I have been thinking on starting our own business... I just started doing my research... my plans are to open a pool hall... most of my customers would be teens... no liquor no smoking.... just a hang out type of environment... I think a good location would be near a high school... and a main blvd... maybe I can get around the high school to promote our place by passing out coupons things like that... I'm going to need a big place since we are planning on getting about 20 pool tables.... we are also planning on decorating real nice... some flat TV with music videos playing.... lights with some effects and fancy looking tables aswell... no food yet... but... maybe we can get sell gatorades chips gummybears just a bunch of snacks to start... I do have some problems... my credit isn't the best... we're planning on buying tables and everything else out of our pockets... but I'm scared we won't be able rent a place because of my credit (my friends credit is pretty bad too).... also.. do you think we got a pretty strong idea??... what do you guys think overall... I know is not going to be easy... but I have a nice feeling about it.... oh... last question... from the description I gave you.. how much do you think we're going to be spending??... thanks in advance
Thanks
Evely

[Darth51]

That could cost a bit, you'd need some funding to start with
I cant give you a figure as it depends how much things are where you live.
You'd also need some type of insurance, something else you would need to look into :)

[alex]

My advice, start small. It's easy to want and think you need everything under the sun but that is seldom the case. In any business starting out, money management is critical and if you don't take care of that side of things, you will often find yourself in a bad position later on. It's cool to have nice stuff and everything you want but it's even better in 5 years when you've built a successful business. Start small, make everyday an accomplishment and pretty soon, you should have everything you need.

[Dana]

I agree on starting small.

Most companies operate in the 'red' for the first 6 months to a year or more so ensure you have living expenses put aside and in your business plan account for growth but start off small.
If your credit is less than perfect, you can probably still get a loan if you have a good business plan but you'll probably pay extra interest.

Sounds like you have a good idea though, good luck!

[cnnon]

if you will start some business, you maybe need to know about Mortgage
http://thaitophouse.blogspot.com

[Mrs Wolfie]

Why would someone opening a pool hall need a mortgage? Anyway, I love the idea. Teen hang outs are becoming so rare. I used to go to teen night clubs as a kid and loved them!

Best of luck with the idea!

[alex]

Any new business is expensive, especially if you want to be successful and focus on the business. It's not easy to penny pinch your way into a bad business situation. I would imagine you would be better suited for a small business loan, probably from your banker through the SBA program.

[Dana]

I agree, Mrs. Wolfie.
Too many teens have nothing to do. They are accused of loitering everywhere and are constantly being told to move along.
They need more places to hang out with something productive to do and to be welcomed into an establishment instead of being look at with suspicion.
They have disposable income and statistics show that they have LOTS of it.
Allowance, income from part time jobs, etc..

A grocery store near where I live is directly across the street from a high school.
There are big signs everywhere indicating that only '2 students' at a time, no backpacks, etc.
That store owner doesn't realize how much business he's probably losing by turning those students 'off'.

There are no other places nearby for those students to buy lunch and teenage spending accounts for a huge % of the economy in fast food and entertainment.
If this owner was smart, he might hire a security guard instead and have that guard monitor the store around lunch hour to protect the store BUT have things to draw those teens in like food, magazines, perhaps a pinball game and most of all a kid-friendly atmosphere.

The teenage market is huge in terms of entertainment and the word-of-mouth marketing aspect of that age group is HUGE.

I hope you do really well, Evely.

[Mrs Wolfie]

Absolutely. Just remember to keep your clientele in mind when decorating, etc. and I'm sure you will do fantastic!!

[FrancisTheFool]

Get a loan from the bank, and I agree this site is awesome.