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“WOW…there is a lot to think about! Thanks for putting together an amazing package. Definitely worth the investment.” – Tony Mehta, FL
“So far the info [in the Operations Book] is great for brain storming and sorting out a place to start.” – Brad Kempster, CA
“I’ve already learned alot from your business plan.” – Dan Aronson, MO
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“Thank you for putting together such a fabulous business plan and making it available for purchase. It has helped my partner and I immensely…and saved me ALOT of time!” – Kylie Searle, Australia
“I purchased your business plan, in reading it over so far, we seem to have a very similar vision of what we want in our pool halls and the atmosphere we want to obtain. I think it’s great what you’ve done and I thank you for making this information available to me. I’ve had this vision for several years and for whatever reason I’ve never pulled the trigger…Not this time!” – Jody Frye, TX
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Please click on this link to access your Startup Guide ebook.
Sounds easy right? Here’s the thing, what ties these steps together is a well written business plan. In step one you get your vision on paper. How big is the room you want? How many tables? Is the decor upscale or more working class? What food and beverages will you sell? Do you want a full bar and kitchen?
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. 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.
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. Third, the manual will help you make profits over the long haul by establishing a “customer building” approach to your business. Finally, it will help existing rooms to become more competitive and more profitable. Click here for a preview.
The bar is going to make or break your business. After you read this book you will have an understanding of the bar business that would take years to learn on your own. It gives you the know how and processes to interview, hire, train and retain the right bartenders and servers. It includes an inventory control program for liquor, bottled and draft beer, and wine “by the glass”. You’ll learn how to deter bartender theft, price drinks, increase sales, and the laws related to the bar business. Click here for a preview.
You are going to have a lot of questions along the way. I certainly did. The internet, your professional support team, friends and family (especially small business owners) are all great resources to leverage. But there may be times when you need to speak with someone that has done what you are trying to do. Maybe its discussing realistic sales and expense projections for your business plan, or you have questions about location selection, or you simply have hit a wall and don’t know what to do next. If you feel you need help, I make myself available for 1-on-1 consultations. To learn more about booking a 1-on-1 Consulting Session click here.
Your dream of owning a pool hall will become your reality if you properly prepare and execute your plan.
My hope is that you find the resources on this site helpful. Remember, you don’t have to go it alone. Feel free to drop me a note at PoolHallBP@Gmail.com. I answer every email and love hearing about your success.
MONTREAL – Travel company Transat AT Inc. reported a loss in its latest quarter compared with a profit a year earlier as its revenue edged lower.
The parent company of Air Transat says it lost $39.9 million or $1.03 per diluted share in its quarter ended July 31.
The result compared with a profit of $57.3 million or $1.49 per diluted share a year earlier.
Revenue in what was the company’s third quarter totalled $736.2 million, down from $746.3 million in the same quarter last year.
On an adjusted basis, Transat says it lost $1.10 per share in its latest quarter compared with an adjusted profit of $1.10 per share a year earlier.
Transat chief executive Annick Guérard says demand for leisure travel remains healthy, as evidenced by higher traffic, but consumers are increasingly price conscious given the current economic uncertainty.
This report by The Canadian Press was first published Sept. 12, 2024.
Dollarama Inc.’s food aisles may have expanded far beyond sweet treats or piles of gum by the checkout counter in recent years, but its chief executive maintains his company is “not in the grocery business,” even if it’s keeping an eye on the sector.
“It’s just one small part of our store,” Neil Rossy told analysts on a Wednesday call, where he was questioned about the company’s food merchandise and rivals playing in the same space.
“We will keep an eye on all retailers — like all retailers keep an eye on us — to make sure that we’re competitive and we understand what’s out there.”
Over the last decade and as consumers have more recently sought deals, Dollarama’s food merchandise has expanded to include bread and pantry staples like cereal, rice and pasta sold at prices on par or below supermarkets.
However, the competition in the discount segment of the market Dollarama operates in intensified recently when the country’s biggest grocery chain began piloting a new ultra-discount store.
The No Name stores being tested by Loblaw Cos. Ltd. in Windsor, St. Catharines and Brockville, Ont., are billed as 20 per cent cheaper than discount retail competitors including No Frills. The grocery giant is able to offer such cost savings by relying on a smaller store footprint, fewer chilled products and a hearty range of No Name merchandise.
Though Rossy brushed off notions that his company is a supermarket challenger, grocers aren’t off his radar.
“All retailers in Canada are realistic about the fact that everyone is everyone’s competition on any given item or category,” he said.
Rossy declined to reveal how much of the chain’s sales would overlap with Loblaw or the food category, arguing the vast variety of items Dollarama sells is its strength rather than its grocery products alone.
“What makes Dollarama Dollarama is a very wide assortment of different departments that somewhat represent the old five-and-dime local convenience store,” he said.
The breadth of Dollarama’s offerings helped carry the company to a second-quarter profit of $285.9 million, up from $245.8 million in the same quarter last year as its sales rose 7.4 per cent.
The retailer said Wednesday the profit amounted to $1.02 per diluted share for the 13-week period ended July 28, up from 86 cents per diluted share a year earlier.
The period the quarter covers includes the start of summer, when Rossy said the weather was “terrible.”
“The weather got slightly better towards the end of the summer and our sales certainly increased, but not enough to make up for the season’s horrible start,” he said.
Sales totalled $1.56 billion for the quarter, up from $1.46 billion in the same quarter last year.
Comparable store sales, a key metric for retailers, increased 4.7 per cent, while the average transaction was down2.2 per cent and traffic was up seven per cent, RBC analyst Irene Nattel pointed out.
She told investors in a note that the numbers reflect “solid demand as cautious consumers focus on core consumables and everyday essentials.”
Analysts have attributed such behaviour to interest rates that have been slow to drop and high prices of key consumer goods, which are weighing on household budgets.
To cope, many Canadians have spent more time seeking deals, trading down to more affordable brands and forgoing small luxuries they would treat themselves to in better economic times.
“When people feel squeezed, they tend to shy away from discretionary, focus on the basics,” Rossy said. “When people are feeling good about their wallet, they tend to be more lax about the basics and more willing to spend on discretionary.”
The current economic situation has drawn in not just the average Canadian looking to save a buck or two, but also wealthier consumers.
“When the entire economy is feeling slightly squeezed, we get more consumers who might not have to or want to shop at a Dollarama generally or who enjoy shopping at a Dollarama but have the luxury of not having to worry about the price in some other store that they happen to be standing in that has those goods,” Rossy said.
“Well, when times are tougher, they’ll consider the extra five minutes to go to the store next door.”
This report by The Canadian Press was first published Sept. 11, 2024.
TORONTO – The U.S. Consumer Financial Protection Bureau has ordered TD Bank Group to pay US$28 million for repeatedly sharing inaccurate, negative information about its customers to consumer reporting companies.
The agency says TD has to pay US$7.76 million in total to tens of thousands of victims of its illegal actions, along with a US$20 million civil penalty.
It says TD shared information that contained systemic errors about credit card and bank deposit accounts to consumer reporting companies, which can include credit reports as well as screening reports for tenants and employees and other background checks.
CFPB director Rohit Chopra says in a statement that TD threatened the consumer reports of customers with fraudulent information then “barely lifted a finger to fix it,” and that regulators will need to “focus major attention” on TD Bank to change its course.
TD says in a statement it self-identified these issues and proactively worked to improve its practices, and that it is committed to delivering on its responsibilities to its customers.
The bank also faces scrutiny in the U.S. over its anti-money laundering program where it expects to pay more than US$3 billion in monetary penalties to resolve.
This report by The Canadian Press was first published Sept. 11, 2024.
