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Author Topic: For Free: Your Own Arcade - Not Kidding  (Read 9031 times)

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RetroJames

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #40 on: February 01, 2005, 03:42:49 pm »
peale, if you get this arcade and dont put in a popn music machine i will be very mad =P


and so it begins... ;D


Also, I don't know what Kolowski knows about runnin' no arcade but the guy has a flair for PR -

Today in USA uhh, well Today - http://www.usatoday.com/tech/news/2005-02-01-now-thats-a-free-game_x.htm
« Last Edit: February 01, 2005, 03:44:46 pm by 1hookedspacecadet »

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #41 on: February 01, 2005, 03:50:49 pm »
Great - national coverage!  I don't stand a chance.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #42 on: February 01, 2005, 03:56:11 pm »
Can I offer a reality check?

It's only been open 6 weeks. The "newness" and novelty factor has to be considered here. 6 weeks is not long enough of a track record to really judge where this business is headed. There's ALOT of due dilligence (research) to do here.


NO MORE!!

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #43 on: February 01, 2005, 04:00:42 pm »
well it really is an untapped goldmine on the east coast, there is one machine in NH but its a POPN ONE! imagine playing DDR 1st mix compared to 8thmix, its not even a comparison. If i had the cash id buy a PopN split profits with someone for putting it in their arcade and become wealthy =)
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Re: For Free: Your Own Arcade - Not Kidding
« Reply #44 on: February 01, 2005, 04:03:59 pm »

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #45 on: February 01, 2005, 04:04:51 pm »
I already called; I'm going up tonight.  That's about all I can do for now.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #46 on: February 01, 2005, 04:06:25 pm »
It's only been open 6 weeks. The "newness" and novelty factor has to be considered here. 6 weeks is not long enough of a track record to really judge where this business is headed. There's ALOT of due dilligence (research) to do here.

I think an arcade in Claremont is a great idea.  There really isn't a lot to do (captive audience), there's a coffee shop right next door, and if the arcade branches out to sales, merchandising, tournaments, etc, the sky's the limit.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #47 on: February 01, 2005, 04:08:55 pm »
Good luck.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #48 on: February 01, 2005, 04:26:35 pm »
A small word of advice: consider talking to an attorney before signing anything. The last thing that you want to do is sign a contract that says you personally guarantee the debts of the business, especially for an unproven business. Good luck.
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Re: For Free: Your Own Arcade - Not Kidding
« Reply #49 on: February 01, 2005, 04:40:50 pm »
Oh, I'd read *very* fully any contract before signing, believe me.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #50 on: February 01, 2005, 08:59:46 pm »
Oh, I'd read *very* fully any contract before signing, believe me.

yeah but a lawyer is still a good idea. i mean this is a good stunt, but the guy isn't really giving anything away as pointed before as he doesn't own anything. i am sure he will open his books to someone serious and not the newspapers or he won't find any takers. good luck, it is exciting to think about this. if you can make a living doing what you live, it's priceless!

i think the comment about 6 weeks is dead on. a lot of businesses in my nearby downtown have done awesome the first month or two cause everyone in town is coming out and there's all sorts of free publictly writeups in the newspapers, etc. then it drops off some and not quite at the level as before. then it takes time to build up again.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #51 on: February 01, 2005, 09:01:50 pm »
The key I think is to get as many non-leased game in as you can so you are getting all the money from them.  You will need to lease some to get the newer tiltles, or finance them, but cutting out as many middle-men as possible would be a big help.


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Re: For Free: Your Own Arcade - Not Kidding
« Reply #52 on: February 01, 2005, 09:07:18 pm »
Well I just got back...wasn't QUITE a wasted trip, as I got to peer in the window.  They were CLOSED.  Dammit!

It's fairly spacious, decent number of games, I *think* I saw a pool table.  Couple driving games, I know I saw Primal Instinct sideart (whether or not the game was PI I can't say) and one of those commercial multi-games in the front.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #53 on: February 01, 2005, 09:09:00 pm »
Sounds promising. Does the part of town it's in look like it could be busy?

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #54 on: February 01, 2005, 09:27:30 pm »
It's hard to say.  There has been some development recently.  Some really nice shops have moved in.  Quite a change from the last time I went looking down there.  Nothing but empty store fronts, and I think a dollar store.   ::)

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #55 on: February 01, 2005, 09:50:25 pm »
What kind of shops?  The reason you only see arcades in strip malls anymore is because of the need for foot traffic.  Without foot traffic, you become a place to drop off the kids rather than spend time with the kids.  That's why places like Chuck E Cheese came about.  If there's a pool table, get rid of it.  That space can be better utilized.  If it does have some *nice* shops around, you might end up babysitting rich kids.  That's better than babysitting poor kids as far as you'd be concerned.  I'd know too, I spent a TON of time hanging at arcades wishing I was playing.

Anyhow, talk with the guy and see if the numbers work out.  Figure in minimum wage + $1.50 an hour to get a semi-responsible kid to run the joint, and don't forget repair $$ if the machines are owned.  If the numbers look good, go for it.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #56 on: February 01, 2005, 09:58:56 pm »
A lot of the shops (80%) are still empty, but it appears there is work being done inside them.  That's a good sign.

The shops that are there include a new candy store, a hobby shop, a wedding shop, come coffee shops (several, actually) and some other shops that I didn't pay attention to at the time.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #57 on: February 01, 2005, 10:41:30 pm »
Quote
« Last Edit: February 01, 2005, 10:43:01 pm by rockhopper »

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #58 on: February 02, 2005, 01:13:22 am »
It's hard to say.  There has been some development recently.  Some really nice shops have moved in.  Quite a change from the last time I went looking down there.  Nothing but empty store fronts, and I think a dollar store.   ::)

more importantly (and to check if 1hooked's "dude, you sold out" is starting yet) did you check out the dumpsters while you were around there?

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #59 on: February 02, 2005, 07:04:33 am »
When I'm rooting (in the Australian sense) I'd better be rooting for myself, or for her pleasure of course  ;) . Peale's the kind of guy I can visualize rooting in a dumpster at the back of an arcade  :o

In American terms, I'm definetly rooting for ya Peale! Go Peale! It's yo birthday! Etc.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #60 on: February 02, 2005, 08:00:05 am »
more importantly (and to check if 1hooked's "dude, you sold out" is starting yet) did you check out the dumpsters while you were around there?

I always check out a couple while I'm there - a national chain office store, and a former electronics supplier, than now does more cell phones than electronics now.

Nada.

It's for the best, really, I've got more schwag than I can deal with.  I've sold very little here, so it's probably about time I offloaded it on eBay.  Er...make that 'BidVille' with the eBay boycott.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #61 on: February 02, 2005, 08:26:20 am »
It's for the best, really, I've got more schwag than I can deal with.  I've sold very little here, so it's probably about time I offloaded it on eBay.  Er...make that 'BidVille' with the eBay boycott.

You should try CraigsList first.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #62 on: February 02, 2005, 08:30:57 am »
I've thought about it, but the nearest list to me is either Boston or Hartford.  Oh, Albany, forgot they recently added that.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #63 on: February 02, 2005, 09:28:47 am »
Aparently, he does quite a lot of business in the area.  And he doesn't sound too old.  If what I've been reading is correct, his *mom* is only 47!

Try to hold off on the..."Hey dude, yer Mom is hot" comment until the SECOND meeting...




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Good Luck Peale!


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Re: For Free: Your Own Arcade - Not Kidding
« Reply #64 on: February 02, 2005, 11:54:07 am »
I've thought about it, but the nearest list to me is either Boston or Hartford.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #65 on: February 03, 2005, 01:24:33 pm »
So Peale, any word on a meeting with the owner yet?

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #66 on: February 03, 2005, 02:32:18 pm »
No, not yet.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #68 on: February 03, 2005, 03:13:27 pm »
What a bunch of dags!

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #69 on: February 03, 2005, 10:40:40 pm »
I have spoken with one of the two people that put this whole thing together at length.  There's Nick, the guy referenced in the newspaper article, and Craig, the guy that owns the building, and partner with Nick with the arcade.  I spoke to Craig.

First: the media has put a slant on the story that makes it sound a little too-good-to-be-true.  Here's some details.  If you have any questions, feel free to ask, as likely I'll forget something.

1) It's not *free.*  It's a lease, for one year, of $800 a month.  You cover electricity, heat, Internet, business insurance, advertising and all other expenditures.  They have, however, taken 90% of the start-up costs and hard work out of their own pockets.  You get the benefits of that hard work, and the money that has been put into the project thus far.

2) The area is extremely high-traffic, and is well situated for an arcade.  The coffee shop next door is going to be turned into a bar, but a high-class establishment, not a rowdy place.  It's within two miles of five schools.  The town common is the next street over, and during the summer will have massive traffic from the weeklong fair, not to mention the nearby park, rec center and it's right along the road to a major shopping district.

3) It's currently approx. 1800 square feet.  In about a month they're going to gut the entire building to renovate it, and in doing so will add approx. 200 more square feet to the arcade.   It will have to be shut down for 2-3 weeks during this time.  But when it's completed it will be practically brand new.

4) Here's the big part: the arcade is getting traffic - decent traffic too.  But it needs more exposure.  For the new owner to get the business to the 'break-even' point - ie the point where the money coming in takes care of the *business* expenditures (note: no salary to owner) it will likely take eight months to a year.  The part where it makes enough money to actually support the family could take longer.  So in order to make this work, I'd need enough money to cover the business expenditures for a *minimum* of six months, PLUS I still have to pay rent, eat, and clothe my family.

He called me @ 6:30 pm, and when we got off the phone I realized that 2 1/2 hours had gone by.   :o  We talked about the business, his interests, our family lives.  He seems to be a genuinely nice guy, who wants to do a good thing for the community.  So even if this doesn't pan out (which it won't, unless I can somehow come up with about $20,000) I've made a valuable business contact.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #70 on: February 03, 2005, 11:16:54 pm »
Sue the newspaper for fraud; that should more than make up the $20,000. ;)
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Re: For Free: Your Own Arcade - Not Kidding
« Reply #71 on: February 03, 2005, 11:22:05 pm »
Sue the newspaper for fraud; that should more than make up the $20,000. ;)

They didn't lie; more like they stretched the truth.

Besides, it wouldn't be *my* place to sue the paper(s).  It would be the owners.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #72 on: February 03, 2005, 11:25:23 pm »
Ok,

I am going to pm you with some stuff offline, but I have a few questions worthy of group discussion;

1. Did he give you the financials?

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #73 on: February 03, 2005, 11:29:14 pm »
Building on the last post, if you are seriously considering this, you may want to have provisions in the lease for term extensions, renewals or at least the right of first refusal. The last thing that you want is to have the place doing great, because of your effort, at the end of the lease only to have it taken over by someone else.
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Re: For Free: Your Own Arcade - Not Kidding
« Reply #74 on: February 03, 2005, 11:32:07 pm »
Sue the newspaper for fraud; that should more than make up the $20,000. ;)

The only thing the papaer MAY have gotten wrong (or they gave the wrong info) is whether or not the biz is turning a profit.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #75 on: February 03, 2005, 11:36:04 pm »
1. Did he give you the financials?  Does the (6 week old) business support itself today or are they still floating part of the monthly costs?  Is it making enough to cover all costs today?

No *specifics*, no, but a very good idea of what it's currently pulling in.  Since the guy that owns the building, and the guy that started the arcade are partners in this venture, those costs are either being met, or almost being met.  There might be a small loss.  Since they're partners, the owner (Craig) isn't charging rent.

Quote
2. Did you get into that much detail?  Such as what are the current costs and income?  Do they have someone working the arcade or are they watching the shop currently?

It's been open on and off for the last six weeks, due to comitments elsewhere.  Nick's been opening the place up at night (from about 3-8/9) sometimes three days a week, sometimes four.

Quote
3. The renovation is a killer.  Would they waive the rent during that time?  I would not even think of jumping into something like that until the renovations are complete as that will pretty much kill the biz for the duration. 

That's a good question, and one I didn't  think to bring up.  Since the renovation will be taking place quite soon, it's more than possible that the new owner will take over after it's done.

Quote
4. You say you would need to cover the expenditures for 6mo which makes it sound like the biz is NOT turning even a $1 profit per/mo. 

Most businesses don't start turning a profit until they're well established.  As this has just gotten off the ground six weeks ago, they've got a ways to go.

Quote
5. If it IS covering the total cost of operation including a goober to run the counter, then it may be worthwhile as you can work a second gig until you can get it turning a better profit.  This also depends on your contratual obligations - The lease would be one of them, you would want to figure out what, if the biz closed tommorow, wouldyou have to keep paying and for how long?

The lease is for a year; so if the business fails, yes it would have to be paid.  However; the space may be sublet.
« Last Edit: February 04, 2005, 12:11:59 am by Peale »

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #76 on: February 03, 2005, 11:40:54 pm »
...if you are able to get some machines in there that you own, you will presumably double the take (assumming a 50-50 split onthe rentals) for each machine you bring in.  Then you roll you online stuff into the business for a little more $$, then the multitude of other ideas you have....

We spoke about this very topic, thanks for bringing it up.

It's actually in my best interests to have *most* of the machines the operator's.  Here's why: I move more machines of my own in, the operator isn't making money.  He then moves his machines out, leaving me with *squat*.  Down the road, if successful enough, this may not be a problem (just move more machines in)

As for the online gaming, the building houses a T1 line.  Can you say 'very low lag?'

RetroJames

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #77 on: February 03, 2005, 11:50:38 pm »
It may be then that the biz IS turning a profit in that since they are not applying the rent to the cost of operations yet.

RetroJames

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #78 on: February 03, 2005, 11:56:16 pm »

Here's why: I move more machines of my own in, the operator isn't making money.

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Re: For Free: Your Own Arcade - Not Kidding
« Reply #79 on: February 03, 2005, 11:57:43 pm »
Oh yea, see if they have a high dropout rate intown...may add to daytime sales... :)