(Topic ID: 213457)

Looking for advise from route owners


By V8haha

1 year ago



Topic Stats

  • 15 posts
  • 10 Pinsiders participating
  • Latest reply 1 year ago by Rody
  • Topic is favorited by 4 Pinsiders

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    #1 1 year ago

    Hello

    I know most will not like to share but i was hoping a route owner would be willing to PM me to answer a few questions i had.

    I’m looking to place 1 pin in a friends brewery. Not expecting to make a lot of money or any for that matter! Just want to have a place to play and help cover the cost of the machine. More pins out there for people to play the better!

    I live in Colorado so maybe that will help some people not see me as competition.

    Thanks in advance!
    Ian

    #2 1 year ago

    Start with the basics. Get your own insurance. Check the city hall in the city you want to do this in. See if there are any zoning issues, if you can put games there. And find out what licenses you need. May be on you, your business, the game and location.

    Quoted from V8haha:

    Not expecting to make a lot of money or any for that matter!

    That's a good plan for what you want to do.

    LTG : )

    #3 1 year ago

    Go for it,Pinball by itself rarely if ever makes enough money to make sense for a route op but if your just enjoying it at the location with your buddy what the hell.I would suggest exploring the possibility of placing other equipment such as jukebox,pool table etc to make the overall location earn enough to possibly cover the"break even at best scenario" of a pin by itself.I have a location that the juke earnings are good enough to basically buy a pin every year for free.

    #4 1 year ago

    I’ve done most of the research only need business license and I’ve already set up the LLc to help protect myself.

    Liability insurance really is what I’m having a hard time with. Most people won’t insure me as the business is to small. Any suggestions?

    I’ve also heard that renting a space from the brewery could be a better way to protect myself rather then a profit share...

    #5 1 year ago

    Search around & usually get million or 2. Usually your insurance broker won't have a hard time doing it if you have auto & home insurance with them. If they don't do commercial insurance, find one who will & check out the rates to move over all your insurance.

    #6 1 year ago

    The first step was already omitted.

    Make sure you are not encroaching on other operators area of operation or locations. This is professional courtesy. You need to canvas and see what else is being vended. Most operators know everyone other locally. Don't make new enemies even before you start. You might want their help later on.

    Good luck.

    #7 1 year ago

    thanks everyone for the input!

    right now my one obstacle is liability insurance.

    Im not sure how to protect myself.

    Some have mentioned to just wing it and the LLC should protect me but I'm not excited about that idea.

    Does anyone know someone who would write a liability policy on just one machine?

    #8 1 year ago
    Quoted from V8haha:

    Some have mentioned to just wing it and the LLC should protect me but I'm not excited about that idea.

    That's a load of BS. Huge load of BS.

    #9 1 year ago

    If he's your friend can't you just put it under his brewery? Call the machine his? (Gifted)

    The LLC and insurance seems like a lot of BS for 1 pin with a friends establishment.

    #10 1 year ago

    I've seen something similar to this play out such that the owner of the equipment leased the equipment to a brewpub. The brewpub then insured the item and added the owner of the equipment as an added insured on the policy (and it didn't cost the brew pub anything to add coverage for the leased item or additional insured which was real nice). In this situation, perhaps the lease payment could be something like whatever ends up in the coin box?

    Not sure if that provided adequate coverage from an insurance perspective but it was creative.

    #11 1 year ago
    Quoted from turbo20lbs:

    The LLC and insurance seems like a lot of BS for 1 pin with a friends establishment.

    Until something happens and you lose everything.

    Never count on others to cover your ass.

    LTG : )

    #12 1 year ago
    Quoted from LTG:

    Until something happens and you lose everything.
    Never count on others to cover your ass.
    LTG : )

    If it's gifted, what could you lose besides 1 pinball machine?

    #13 1 year ago

    I pay $75 a month for insurance. It probably wouldn't be worth it for one machine. unless you want to just wing it. As some have suggested check with the currant op before putting a pin in. In my case I put 15 pins in one spot and talked to the current operator about. In fact I bought the only pinball they had left which was in that bar. All the op's around me don't have pins because they don't make money.

    #14 1 year ago
    Quoted from turbo20lbs:

    If it's gifted, what could you lose besides 1 pinball machine?

    50 grand defending a million dollar lawsuit.

    LTG : )

    #15 1 year ago

    Many are missing the focus of business liability insurance; it is to protect your customers quality of life in the event that an accident, involving your equipment, occurs.

    Yes, an LLC will help to insulate your personal holdings from a claim, but liability insurance provides for your customers financial loss if the unthinkable occurs.

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