First, the antique shop. I suggest you partition off 10’ X 10’ spaces and sub-lease them to antique/antique related flea-market type of dealers that fit the antique concepts. Note that you may loose some business if you have a gentlemens club next to “High Priced antiques”. Pool halls attract some folks that people have a tendency to shy away from; however, if there are some good deals there then it should not be a major problems. By leasing the booth space you get the space filled quickly and can get a set monthly fee and or a consignment percentage.
Second, put together a really good business plan for a Gentlemens Club. I do consulting and can do one for you if you are not to far a way and/or I could email one at a reasonable cost. But here is the free advice. Do a “Shoestring Business Plan”. Go to vendors in the area and see if you can’t get lines of credit from them.
A) Pool Table and Equipment Supplier
B) Food Service/Possibly joint venture with a Restauraunt equipment supplier.
C) Vidio Games Vendor will put in equipment on a split of some type. Usually 50/50 split.
D) Food Distributors will give short term credit. Keep it simple at first (Hamburgers, hotdogs, and the like to cut down on professional labor cost.)
E) Beer distributors and liquor distributors will give you a short term credit on some of the more popular drink sales.
Where are you located? Please feel free to contact me at consulting@homemail.com
By the way my old friend was the 5 time world champion pool player “Earl Strickland”.
Harvey Carroll, Jr.
I recently purchased a commercial property that I plan on putting two businesses that I own into. One is an antique shop and the other is an adult social club (liquor - pool tables - video games, etc). I paid $65k for the property. It appraised for $115 ‘as is’ and once I get the businesses in, it should appraise for a good deal more. I asked a contractor what it would cost to build the building today and he estimated about 1.2 million. It’s over 17,000 sq. feet on 4 floors.
I am cash poor at the moment, and rather than refinance another property I own, I thought of selling 49% interest in the commercial property to a friend, or just 49% interest in the social club. He told me to write up a proposal and he’d check it out and we’d go from there.
What do you creative thinkers think about this idea, and how would you structure it, if you would do it at all.
Thanks in advance for any and all suggestions.
Rich
p.s. - I own the liquor license and they are hard to come by in these parts…so I have that as added value.
I thought your idea about selling a 49% interest in the building has a lot of merit. I’d set up a Limited partnership. You maintain control, he provides the money. You just need to make sure that the yield is large enough to keep his interest.
Harvey has a great point about putting in an antiques “Mall.” These are usually VERY successful. The only other thing I would mention is that your pool hall social club could actually be more like a “shark’s club.” These are upscale places with many pool tables and usually attract a more upscale crowd. They are also usually very successful. I wish you much good fortune.