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Thinking of opening an arcade...

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CheffoJeffo:

--- Quote from: IG-88 on November 17, 2009, 06:25:49 am ---I hate this defeatist attitude people love to spew everytime this subject comes up.   ::)
--- End quote ---

I don't think that ANY of us like having to be negative about proposals like this -- some of us have considered and even helped with initiatives like this in the past -- but reality is what reality is and those with less experience deserve to know about that reality before they charge off.


--- Quote from: IG-88 on November 17, 2009, 06:25:49 am ---I like the idea of catering to 45 yr old dads. Personally I think this generation is going to have more and more time on their hands. (and more  $$) A few years and my kids will be gone. I already have more time than I did when they were toddlers.
--- End quote ---

It is an interesting idea, but how big is that demographic in his market ? It sounds like he is in a smaller market, so that may be a problem. OTOH, being in a smaller geographic market may have advantages -- less competition and easier to be a destination.

There is a guy opening an arcade museum here in town (city of 3+million) and he has an AWESOME (in terms of titles) collection, including some very rare machines. I want to support him, thought about sitting on the board and am considering loaning machines for an exhibit. I would be surprised, however, if I end up going there even once a month because it is quite a haul for me across the city to get there.

While finding a niche and having a rough business plan are important, I think we're putting the cart before the horse here.

To my mind, the very first thing that the OP needs to do is to learn more about arcade machines -- particularly how to fix them. It isn't like you can dial 1-800-FIX-VIDS and the repair genie shows up.

EVERY machine will break and will need to be fixed. He may be able to ship some stuff out for repair, but that still requires some knowledge and it gets expensive relative to earnings fast. Pinball is worse. I dunno nothing about redemption, but I can't imagine they're much fund to maintain.

 :cheers:

RayB:
To add to Cheffo's mention of the museum. The owner (from the impression he's given) is pretty financially well-off, so this venture is more "fun" than business risk. Just wanted to mention that in case anyone was thinking of doing the same but bankrolling it off loans.

IG-88:
I wholeheartedly agree that the OP needs to learn to work on the machines. I did say it wouldn't be easy. But really, were not talking rocket science here. If I can learn how to fix these then about anybody can. They aren't all THAT complicated.

And as far as going for a startup business loan, he better have a damn good business plan down on paper that shows that this can make somewhat of a profit or no bank in their right mind is going to give out any $$. Instead of a loan, why not save up the money to bankroll it using cash?

I like the museum bit too. Personally if there was a place anywhere like what Cheffo was saying within 45 min of me I'd be visiting alot more than once a month. (I think)

Maybe he could file for an exempt 501 C? I think there is a section that covers Social and Recreational Clubs. That would help come tax time considerably....no?

CheffoJeffo:

--- Quote from: IG-88 on November 17, 2009, 03:54:49 pm ---I like the museum bit too. Personally if there was a place anywhere like what Cheffo was saying within 45 min of me I'd be visiting alot more than once a month. (I think)

--- End quote ---

That's what I thought, but after making the drive a couple of times and given the fact that I have 20 games here (many making repair demands on my spare time), it isn't as attractive an option as I thought it would be. Part of the reason is that the location he ended up at isn't all that convenient for me to get to

An example of a recently opened (a "soft open" -- they haven't officially launched) arcade museum in McLean, IL, operated by Vectorman from KLOV:

http://www.vintagevideogames.com/

It is doable, but I think that RayB is dead on about financing.

Dartful Dodger:

--- Quote from: CheffoJeffo on November 17, 2009, 04:11:49 pm ---An example of a recently opened (a "soft open" -- they haven't officially launched) arcade museum in McLean, IL, operated by Vectorman from KLOV:

http://www.vintagevideogames.com/

--- End quote ---

Too bad, that's over 2 hours away from my house.

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