(Topic ID: 229353)

Another gofundme: The Pinball Company


By mnpinball

1 year ago



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  • 136 posts
  • 75 Pinsiders participating
  • Latest reply 1 year ago by Azmodeus
  • Topic is favorited by 8 Pinsiders

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    There are 136 posts in this topic. You are on page 2 of 3.
    #51 1 year ago
    Quoted from Bryan_Kelly:

    It's not about selling pinball machines. It's about opening barcades around the US. The first one would be in Chicago. Listen to Nic's seminar at Expo. He explains most of it.

    Pretty sure he missed the boat on that one. Even in Chicago, unless you have a premium location, more of them fail than succeed.

    It is a tough business to be in and players are very loyal to their local established places.

    Pretty sure the suburb places have all gone under??? tokens and tankards?? I think the last was called.

    #52 1 year ago
    Quoted from TreyBo69:

    "My goal is to have the Chicago office open by November. I believe we will sell between 100 and 200 pinball machines in Chicago next year. We can easily add over $1 million in sales by having a showroom in Chicago. At a minimum, we'll cover our costs of opening an office there and be able to provide a high level of service."
    That's not a barcade (which is good because a barcade is a worse investment than a retail showfloor IMO)

    I stand corrected.

    #53 1 year ago
    Quoted from rubberducks:

    The pinball market is close to saturation now. If DeepRoot manage to deliver on their promises, it is going to be absolutely flooded with machines from early next year. If this comes to pass, a combination of the agony of choice and declining values of games on the secondary market may lead to significantly less than expected revenue from existing product lines that sell well at the moment, and are expected to in future, and / or force margins downwards.

    Smartest thing I've read on Pinside in a long time...agree 100%.

    #54 1 year ago

    After dealing with this guy when he bought my airborne, don't expect him to get any money. When I said I didn't want to take his check on the cash only deal we made he yelled at me over the phone because as a collector who doesn't buy retail had never heard of his company.

    #55 1 year ago
    Quoted from Rondogg:

    Smartest thing I've read on Pinside in a long time...agree 100%.

    Bubble is about to burst?!

    Definitely the smartest thing I've heard on Pinside in ages! What a bold prediction!

    #56 1 year ago
    Quoted from CrazyLevi:

    Bubble is about to burst?!
    Definitely the smartest thing I've heard on Pinside in ages! What a bold prediction!

    Damn, you again?!?!

    14
    #58 1 year ago

    Anyone involved in the coin operated amusement industry knows that investing in the future in this area is more than a basic risk business venture. The environment is always fickle temperamental, and very susceptible to near immediate change, whether operator, distributor, or manufacturer. That is why there are very few examples of companies historically that have been stocked traded both nationally and internationally. This is also why there are less than ten companies in the US for example that have been selling coin operated devices for more than 30 years left in business. The Pinball Company is not one of them.

    If a person wants to invest in something, there are plenty of better ways to do so, and with much better returns.

    #59 1 year ago

    My 401K looks real good compared to this

    #60 1 year ago

    We have indiegogo, gofundme and Kickstarter, but we need “wefunder”? WTF

    #61 1 year ago
    Quoted from homebrood:

    GoFundMe = Donate your money and say goodbye.

    It’s worse, it’s “WeFunder”!!

    #62 1 year ago

    maybe he has a bad cocaine problem?????

    14
    #63 1 year ago

    Add me to the list of “can’t follow this idea” ...

    If the business made $7m turnover last year as stated, if the business is well managed there should be plenty of money in the bank to open a Chicago branch. 10% retained as banked profit = $700,000. Way more than is needed to open another branch.

    Get that operational, open another branch the next year. Slow and steady wins the race.

    Staff is everything in this field. You’d want to train your staff at head office for a year, then offer them a stake in the new branch to keep them on board.

    Maybe consider franchising as an option. Offer proven staff a franchise at a reduced rate.

    Correct me if I’m wrong, but isn’t The Pinball Conpany behind the new Pinball Hall of Fame in Chicago?

    If so, surely that can double as a showroom? Get a Stern agency and bang them out the door?

    Another thought - in these times, is a bricks and mortar showroom even necessary? Trent Augenstein is one of Sterns biggest sellers, he operates from his farmhouse.

    Anyway - my 10c.

    rd

    #64 1 year ago

    There is a lot of this going around. As I previously stated. People are coming to light with their bright idea of an arcade bar and now they want others to fund it? Call me old school, but build it, grow it and get people behind the end result of your product and it will succeed. I just cant get behind, he get me going and I'll be good concept personally.

    #65 1 year ago

    Leveraging up at this point in time doesn't seem like a wise move to me either.

    #66 1 year ago

    No money. = no honey

    #67 1 year ago

    Chicago is tough here is what you have, Great American Pinball. Great service, free delivery and setup, always getting games early and tons of used games and takes trade ins. Hemisphere Amusements, another great local outfit. Arcades at home, new games, used hames and Phil and his team can fix anything old or new. Another big guy on the block isnt that far away Game Room Guys, based in Michigan but will deliver free here and they have even brought a game down my stairs free of charge. Ricks game repair, repairs, restorations amazing knowledge and expertise. There are even more that i can list so coming here and opening up shop im sure will get some sales and traction but most locals go to the proven local guys.

    #68 1 year ago

    Holy cow, they are from my hometown. Too bad I never remember really seeing pins in BOCOMO, but I moved out in 2005; a year before they started their business. All I have to say is GOOD LUCK, and you'll nee it.

    #69 1 year ago
    Quoted from rotordave:

    Staff is everything in this field. You’d want to train your staff at head office for a year, then offer them a stake in the new branch to keep them on board.

    Yes, this is a huge factor and risk. And Nic directly addresses it in the Q&A:

    "It's all about hiring the right people. I'm worried that those people are going to be hard to find, and it's going to take more time than we thought to get those offices running the way that we want. Logistically, we can open those offices very easily, fill them full of product, and market them. But being able to provide a high level of service like we do now is going to be challenging.

    And the Form C:

    "Our future success depends of the availability of qualified pinball technicians in the major markets we service."

    It is hard to find people that are qualified and want to work for the wages that are typically paid. One idiot service tech can cost you a ton of time and money.

    #70 1 year ago

    It's almost as if a vast technical knowledge of a niche market is something that will cost you money to have on hand... Shocking!

    #71 1 year ago

    "It is hard to find people that are qualified and want to work for the wages that are typically paid."

    As a technician, I just laugh with this. They think we will fix there "million dollar shizzle" for 15€/hr, which is what they call "typically paid".

    These days more and more good techs, realize they are extremely valuable for a company and start to rightfully exploit it.

    14
    #72 1 year ago
    Quoted from Gunske:

    "It is hard to find people that are qualified and want to work for the wages that are typically paid."
    As a technician, I just laugh with this. They think we will fix there "million dollar shizzle" for 15€/hr, which is what they call "typically paid".
    These days more and more good techs, realize they are extremely valuable for a company and start to rightfully exploit it.

    Any good tech knows they are better off working for themselves, and will probably have plenty of work via word of mouth.

    #73 1 year ago
    Quoted from JodyG:

    Any good tech knows they are better off working for themselves, and will probably have plenty of work via word of mouth.

    In belgium, we have a system where you can work for a company, combined with working legally for urself, so you still have the social protection. Whereas you go full "selfwork", you lose a decent amount of protection.
    Most of the people in this system, do some extra evening/weekend work, and earn a lot more then our companie managers

    + many company techniques, start to flow into the home environment.

    #74 1 year ago
    Quoted from TreyBo69:

    "My goal is to have the Chicago office open by November. I believe we will sell between 100 and 200 pinball machines in Chicago next year. We can easily add over $1 million in sales by having a showroom in Chicago. At a minimum, we'll cover our costs of opening an office there and be able to provide a high level of service."
    That's not a barcade (which is good because a barcade is a worse investment than a retail showfloor IMO)

    this is interesting. at $8K a machine, he is hoping to sell at least 125 machines to reach that $1M sales goal. if he's planning on opening the offices downtown, a good portion of that 1M will pretty much get used up just to cover the cost of the office space, furniture and staffing (and that doesn't cover the cost of the machines themselves

    maybe he's figuring on running this as a non-profit?

    #75 1 year ago
    Quoted from j_m_:

    at $8K a machine, he is hoping to sell at least 125 machines to reach that $1M sales goal.

    What's the profit on an $8k machine? $1k?

    So set up a brick and mortar, staff and supply it all from $125k? Yikes.

    12
    #76 1 year ago
    Quoted from JodyG:

    Any good tech knows they are better off working for themselves, and will probably have plenty of work via word of mouth.

    I took my phone number off my web site. I still got calls. I now state on my web site that I'm not currently booking repairs and I still get contacted. Previous customers and word of mouth keep me as busy as I want to be. Back when I had all my contact info on my site I couldn't keep up with in-home repairs and maintaining the pins at my two locations. I did it for a year, then after the Thanksgiving/Christmas/New Year's rush one year I said the hell with it, took off my contact info, and cut way back on the number of in-home repairs I do.

    One of the things that really made me stop is on Thanksgiving I had a guy call me on my home number, not my cell that I use for business, wanting his game fixed. He wasn't even a previous customer. Sorry buddy, no way am I ever fixing your game if you call me at my home number on freaking Thanksgiving.

    #77 1 year ago
    Quoted from frolic:

    What's the profit on an $8k machine? $1k?
    So set up a brick and mortar, staff and supply it all from $125k? Yikes.

    Look at what they're selling and the prices. Some of their games have huge profit margins. Like 6.5k for Big Buck Hunter Pro, 7k for Champions Pub, their "high end restoration pins" is stuff like Indiana Jones for $17k.

    #78 1 year ago

    - removed -

    Side note, I cannot donate to this as my wife controls my finances because I tend to make bad money decisions...

    12
    #79 1 year ago
    Quoted from viper001:

    I saw their Expo presentation and all I will say is his wife is really hot. So just from that perspective we should all donate this.

    Side note, I cannot donate to this as my wife controls my finances because I tend to make bad money decisions...

    Now that is the conversation I want to see. "But honey, his wife is HOT !, we have to send them money".

    LTG : )

    #80 1 year ago
    Quoted from rubberducks:

    If so, that's another detail they seem to have not mentioned in their pitch (aside from Scooby Doo - if real).

    Wait, did they say something about a Scooby Doo Pinball Machine??? If so, that is honestly my dream of a pinball machine. They 100% have one sale lined up if they create that!!!!

    #81 1 year ago
    Quoted from LTG:

    Now that is the conversation I want to see. "But honey, his wife is HOT !, we have to send them money".
    LTG : )

    You should be at the next table when we are out to eat Lloyd. "The food was cold, she took forever to bring it to us, she never checked to see if we wanted drink refills, and you want to give her a 30% tip because of the pants she is wearing???".

    We tend to get a lot more takeout now as it just seems easier that way.

    #82 1 year ago
    Quoted from TreyBo69:

    Look at what they're selling and the prices. Some of their games have huge profit margins. Like 6.5k for Big Buck Hunter Pro, 7k for Champions Pub, their "high end restoration pins" is stuff like Indiana Jones for $17k.

    They would have huge profit margins if they sold

    15
    #83 1 year ago
    Quoted from tmntrule999:

    Wait, did they say something about a Scooby Doo Pinball Machine??? If so, that is honestly my dream of a pinball machine. They 100% have one sale lined up if they create that!!!!

    um, did you see what they did with the jetsons license, id put the check book down for now

    #84 1 year ago

    Investing in brick and mortar?

    Insert that clip from Spider-Man 2 of JK Simmons laughing maniacally here.

    #85 1 year ago
    Quoted from adol75:

    They would have huge profit margins if they sold

    I've asked other places with price tags like that and they tell me that I'd be surprised what some people are willing to pay. It might sit for months, but it'll eventually sell. Someone will buy it that's not part of the hobby and assumes that the price and phrase "high end restoration" will mean that they won't have to worry about it breaking.

    It's the same reason why I think people are crazy to say that the LE/SLE Beatles games won't sellout for absurd prices.

    #86 1 year ago
    Quoted from InfiniteLives:

    um, did you see what they did with the jetsons license, id put the check book down for now

    Yeah. There are a few things I really like on Jetsons, but the gameplay bar was set way too low.

    #87 1 year ago
    Quoted from LTG:

    Now that is the conversation I want to see. "But honey, his wife is HOT !, we have to send them money".
    LTG : )

    #88 1 year ago
    Quoted from TreyBo69:

    I've asked other places with price tags like that and they tell me that I'd be surprised what some people are willing to pay. It might sit for months, but it'll eventually sell. Someone will buy it that's not part of the hobby and assumes that the price and phrase "high end restoration" will mean that they won't have to worry about it breaking.
    It's the same reason why I think people are crazy to say that the LE/SLE Beatles games won't sellout for absurd prices.

    My FIRST time in a pinball retailer I was almost suckered into a NIB WOZ ECLE for $13,000. I had no idea what it cost of course, but luckily everytime I told him I wanted to go home and research he pushed so hard to close the sale, that I knew I would be overpaying. Always look for the greed in a salesman's eyes...

    #89 1 year ago
    Quoted from benheck:

    Investing in brick and mortar?
    Insert that clip from Spider-Man 2 of JK Simmons laughing maniacally here.

    Well it would be interesting to see how it'd do in a CBD type location in a big city like NYC or Chicago. I wouldn't be the one wanting to finance the experiment, though.

    It'd make more sense for Stern to have a showroom, as they could easily absorb the cost, and it'd get their product seen in locations with lots of people with lots of disposable income.

    #90 1 year ago
    Quoted from rubberducks:

    Well it would be interesting to see how it'd do in a CBD type location in a big city like NYC or Chicago. I wouldn't be the one wanting to finance the experiment, though.
    It'd make more sense for Stern to have a showroom, as they could easily absorb the cost, and it'd get their product seen in locations with lots of people with lots of disposable income.

    No, that's a terrible business choice. Stern would then have to build a showroom, hire people to run the showroom, deal with helping their direct customers (more than they already do), and piss off a lot of distributors. All just to make a little bit more money on each sold machine. Not worth the headache for a company with revenue in the tens of millions.

    #91 1 year ago
    Quoted from TreyBo69:

    No, that's a terrible business choice. Stern would then have to build a showroom, hire people to run the showroom, deal with helping their direct customers (more than they already do), and piss off a lot of distributors. All just to make a little bit more money on each sold machine. Not worth the headache for a company with revenue in the tens of millions.

    A showroom need only be a showroom. Anyway, I said *more* sense. Not that it would be a judicious use of capital.

    #92 1 year ago

    This is how the "American Greed" episodes always begin.

    #93 1 year ago

    For those who weren't there:

    #94 1 year ago

    More power to them. Great way to get a cheap influx of cash with little risk to them.
    Way more appealing than 5% compounding interest on a loan.

    #95 1 year ago

    Hey, if a couple and a homeless guy can raise 460k in a gofundme con, then this is a sure bet.

    #96 1 year ago

    I was thinking the same thing

    Quoted from ChiroCop:

    This is how the "American Greed" episodes always begin.

    #97 1 year ago
    Quoted from jellikit:

    For those who weren't there:

    I'm uncertain as to what I was expecting, but this was a little rough.

    I hope the endeavor proves to be a huge success, however.

    #98 1 year ago

    SP500 almost cracked 3000pts last month... Too late to buy

    Bond rates keep rising... Too early to buy

    Pinball Company investment... Too weird to buy

    I have no issue with the Pinbal Company. Heck, they’re prolly the 2nd coolest place in Columbia (1st place goes to the all, well mostly, girls college Stephens). But this ain’t for me.

    Scooby Doo might be cool tho.

    #99 1 year ago
    Quoted from frolic:

    What's the profit on an $8k machine? $1k?
    So set up a brick and mortar, staff and supply it all from $125k? Yikes.

    obviously you haven't looked at his website. he's about $2000-2500 high on every game.

    22
    #100 1 year ago

    Just trying to make sure I have this straight - they paid themselves a combined salary of over $110,000 which came from selling pinball machines for more than they paid, driving the prices up for everyone else, while contributing to the ever growing bubble.

    And now they want another $500,000 on top of the $500,000 they already have out with the bank to continue?

    And how is this revolutionary concept of just asking random people for money they may never see any return on so much better than the sweat equity so many other operators and repair techs put in on a daily basis to keep this hobby going year after year since the beginning?

    What about all the distributors who take chances on the new titles at premium prices committing to large inventory, then they tear them out of the box to let people bang away on them for free at shows? All that capital tied up, the risk, their time, setup and etc. and they're not asking for donations.

    Sorry, these people continue to disgust further every time I learn more about them.

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