How to Make a Business Plan for a Pool Hall
A pool hall in a good location, such as an industrial area or business district, can earn in the hundreds of thousands of dollars each year, according to Entrepreneur.com. Offering billiard lessons and pool hall memberships might increase your business income. However, you'll need a solid business plan to help you get started on the road to success.
Explain the purpose of your business plan, such as to raise money to start or expand your pool hall. Describe the pool hall you wish to open and explain what makes it unique, why you want to open or expand it, and why you think now is a good time to do so. Share why you think your pool hall will succeed in the current market. 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.
Discuss who will manage your pool hall. A successful pool hall requires a manager knows the game and the challenges specific to game rooms, as well as liquor and food services, and customer service. Detail any applicable experience or education your management team has, even if it's in retail, bar establishments or food service rather than specifically in running game rooms. If you will manage the pool hall yourself, include details about your education and experience.
Include marketing plan details. Large, eye-catching signs draw in visitors, but advertisements in local newspapers and entertainment guides can help as well. Your business might also benefit from a website and social media accounts that share photos of your establishment and provide coupons for pool table usage or food and beverages. You might also send direct-mail advertisements to local residents and use radio and billboard ads to attract customers.
Include a range of financial details in your pool hall business plan. List the prices you will charge for pool table usage -- usually pool halls charge by the hour -- and a condensed list of food and beverage prices. If you plan to start a new pool hall, include your start-up costs and projections for income and expenses. If you plan to expand an established business, include profit and loss statements from the last few years. Start-up pool halls should provide projected profit and loss numbers. If you will use your business plan to seek financing, include the amount of money you need for your start-up or expansion project.