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- How to Make a Business Plan for a Pool Hall | Your Business
Dreaming about owning your own pool hall, but struggle with making it a reality?
Prepare a compelling mission statement as well. Explain what your pool hall will offer, including the number of pool tables you will have. List other entertainment options you will offer, such as large-screen televisions or music. If you will serve food and drinks, describe these options as well.
Detail how you will arrange the pool tables, food tables and any other seating options you will provide. Describe the lighting and decor.
Add any licenses you will need, such as those that allow you to serve food and alcohol. In addition, include any lessons, membership packages or special events you will use to generate revenue. Research the market for a pool hall in your area. For example, if your area doesn't have many pool halls, you might market to adults.
If you feel that the area has enough adult-oriented pool halls, analyze the market for one targeted towards teens. Research competitors, including game rooms, nightclubs, bars and taverns, to see which entertainment needs are unmet. Use your research to describe how your establishment will differ and stand out in the market you choose.
For instance, you might cater to those who aren't yet of drinking age and want to learn how to play, people who enjoy a certain type of music, or experienced players who have a commitment to and love of the game.
How to Make a Business Plan for a Pool Hall
Discuss who will manage your pool hall. Putting your vision on paper guides your research into the startup and operating costs step 2. For instance, an upscale room catering to social players may require a location in a hip part of town with higher rents, versus a family oriented room in a more commecial part of town.
A room selling snack and sodas needs less capital to start than one requiring a full kitchen and bar. Both will have very different sales and expense projects as well. Finally, you need to execute! You have to put in the work. Write the plan, talk to bankers, commercial real-estate brokers and landlords, take bartending or business courses if you don't have the skills, do your research. And along the way continue to update and tweak you business plan. If you take consistent action I guarantee you will realize your goal of owning a pool hall business.
Despite all my prep work, I still made mistakes that cost me a lot of money. In this ebook I share my experiences in the hope you'll be empowered to continue with your dream and avoid costly pitfalls.
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FREE when you buy the three book bundle. I have written a series of articles on different aspects of starting and operating a pool hall. Read them for insight into what you can expect as a pool hall owner. Click here to access the Articles library. Use it to validate your research and save time.
For more information and to order click here. The first purpose of this manual is to help you avoid the kinds of mistakes that cost new owners thousands of dollars. The second is to give you some knowledge about the billiard business which will help you get the best return as quickly as possible. Using a website featuring photos of people having fun at your pool hall, advertising in local neighborhood publications and getting fans to like your Facebook page after they play a few rounds are other strategies you need to describe.
The financial section of your business plan explains how your establishments makes and spends money. Develop several years' worth of projected profit and loss statements that explain where your cash flow comes from, such as charging hourly fees for pool tables and selling drinks or food. The statements also show details on how much it costs to buy equipment, food and liquor as well as leasing space and paying utilities.
This section also explains any financing you need from investors to open your pool hall.
How to Make a Business Plan for a Pool Hall | Your Business
Nancy Wagner is a marketing strategist and speaker who started writing in She writes business plans for startups and established companies and teaches marketing and promotional tactics at local workshops. She holds a B. Skip to main content. List Products and Services Start by describing the number of pool tables you plan to offer and the pricing, usually set by the hour.
Analyze the Market Analyzing the market starts with identifying nearby competitors, including bars and nightclubs. Describe Personnel Running a pool hall requires a team of people, including a manager and someone to run the cash register.
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