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Topic: 7(a) Loan for an arcade?< Next Oldest | Next Newest >
08:07 CST :: 3/31/2010

Noodles
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I had this faint idea of opening a arcade off of a 7(a) small business loan. I can pull up to $2 million dollars on it. The location will be in a heavily busy mall in Orlando.


Think it'll do? At this time and day?


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09:54 CST :: 3/31/2010

Turkeyslam
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http://en.wikipedia.org/wiki/Pipe_dream

There isn't a bank in the country that would loan anything near that amount of money to a kid fresh out of high school with no experience to open up a business in a failing industry.

You got an arcade machine. That's great. But don't be delusional about any effects of owning one.

10:19 CST :: 3/31/2010

Noodles
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Quote (Turkeyslam @ 10:54 CST :: 3/31/2010)
http://en.wikipedia.org/wiki/Pipe_dream

There isn't a bank in the country that would loan anything near that amount of money to a kid fresh out of high school with no experience to open up a business in a failing industry.

You got an arcade machine. That's great. But don't be delusional about any effects of owning one.

Not for me.


My dad. He has managed small businesses for over 20 years and have been successful. He owns several small businesses in the Orlando area profiting well. Don't jump to the conclusion of it being just me.


And this WOULD end up being handed down to me. I'm going into UCF for a bachelors in Business Management.


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10:54 CST :: 3/31/2010

Turkeyslam
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Dude, arcades are dead. The industry's dead. It's financial suicide even backed up by your dad.

11:04 CST :: 3/31/2010

Noodles
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Quote (Turkeyslam @ 11:54 CST :: 3/31/2010)
Dude, arcades are dead. The industry's dead. It's financial suicide even backed up by your dad.

That's all I wanted to know, whether it's a good idea or not.


The Florida Mall is in the heart of Orlando is literally packed everyday. It is a major tourist spot as well as local spot. Most businesses there stay in business. There were only a few places that I know of left (Such as FYE, a CD/DVD store.). There are no arcades in the mall, but there are a couple on the side of town that still stay open.


I wanted to get an idea of how are arcades around in everyone's area.


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11:08 CST :: 3/31/2010

Turkeyslam
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Even in tourist areas, "arcades" only thrive when backed up by a primary source of income, such as with Dave & Buster's. "Pure" arcades have been dying left and right and are breakeven at best. Not to mention your competition will be huge in that area. It's a hell of a dream, but unrealistic in this economy.

11:38 CST :: 3/31/2010

cpubasic13
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btw Gameworks shut down like half of their locations the other day

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JUL

11:42 CST :: 3/31/2010

No.9
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Quote (Turkeyslam @ 09:08 CST :: 3/31/2010)
Even in tourist areas, "arcades" only thrive when backed up by a primary source of income, such as with Dave & Buster's. "Pure" arcades have been dying left and right and are breakeven at best. Not to mention your competition will be huge in that area. It's a hell of a dream, but unrealistic in this economy.

Besides the probably exorbitant rent for a place in a tourist area,  you'd also have to sell the idea of your arcade to people who would rather go to a Dave N Busters for more than just the arcade.

Spending a lot of money for a business that has been declining during an economic recession is not a very smart idea. The arcade you saw might seem packed with people, but it also doesn't mean they're all paying to play. Like Turkey said, most arcades are breaking even if that. I wouldn't recommend it... :rolleyes:


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Woo!! I'm on fire!

11:52 CST :: 3/31/2010

Noodles
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There are No D&B's within a hour radius of me. And it won't be straight arcade. It will have a "game bar" featuring Dollar Pop, Snacks, etc. (Will be similar to Chuck E Cheese's eat n play, d&b's eat n play)

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12:05 CST :: 3/31/2010

Turkeyslam
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That's not a primary source of income. You need a primary source of income that does NOT come from arcade machine credits.

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