$350k gamble for happier life
I’ve found an underserved market and am on the road to open a pool hall. I’m at the final stages of drafting the business plan and am about to send it to a mentor (who owns a pool hall in a different state). $200k allows me to open, and $100k gets me through the first year expenses, and $50k gets me through the first year of inventory (beer & snacks). My 25% percentile estimates (e.g. “75% of the time, it does better than this”) are where I’m setting my expectations and with that I pay back the $350k, pay myself a modest salary ($80k), and after 5 years have a self-sustaining business profiting $300k/year which includes hiring a GM so my weekly hours are quite low. I’m going to have to front the majority of the $350k myself but even if I get loans, I’ll probably have to personally back them so the $350k comes out of my pocket either way. I hate this job, I hate this field, I hate being a pawn, and frankly this field is fundamentally unethical. Selling beer for cheap is more ethical than this place. Wish me luck.
Excuse my ignorance but what is a pool hall? Like a swimming pool or a pool table hall
Pool table, billiards, etc. Pool sales just keep the lights on. Beer & wine pays for the staff and my profit. Other things like juke box & tournaments are mostly to regulate the vibes and don’t make much profit
Do it man, congrats
I think you’re greatly underestimating the amount of effort it takes to make a business successful. $350K for a business that may or may not have a market is too much of a risk, especially when you’re competing against established players in a time when the average consumer has less disposable income to spend. In addition, it sounds like you’re dealing with a possible franchisee scenario that restricts the amount of impact you can have on your business. Going from your current TC to 80K is rough, and I would recommend that you try searching for a better job soon rather than jumping ship and starting a business (which is likely to fail in 5 years). Alternatively, you can put that money towards investing in your mentor’s pool hall and just ask for a percentage of the profits. In any case, best of luck! TC: 105K
Your plan needs to be robust to operating at net negative for the first 3 years
Where at/what region, will pay you a visit and give you some business. That startup cost actually seems a bit low/reasonable
If you think tech is unethical, you might be in for a shock in the entertainment business. Influence, playing favorites and protection are all prevalent, but more unrefined and rough around the edges in that domain. You’d need to thread with caution. Best of luck with your dream :)
Good luck!
Sounds like you're burnt out buddy lol Can Google get that bad?
Hell ya, best of luck. Worst case scenario you still have a hell of a skillset and resume. Best case you are out of corporate for good and doing well. How did you make the estimates on revenue and customer flow?
Why not both
I will for a while. But the goal is to stop working in this field and I will do that as soon as I’m more confident in the dream
Go for it homie