Where’s that big donation from Stern? PHOF got so many folks into the hobby.
(Topic ID: 285970)
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Quoted from Hi-Fi:Donated! I would have gladly donated to save Replay FX and Pinburgh too...
The loss of Pinburgh hurts bad. I don’t want to lose the Pinball Hall of Fame too.
Could be an opportunity for someone to organize something in a place people actually want to visit post COVID....
1 week later
Quoted from dung:Its not a bad idea,
And so leave it at that. If someone wants to start a go fund me for their local place, then do it. Why talk shi* about this endeavor?
1 month later
Quoted from greenhornet:so, soft open later this month - never a doubt.$1700 x 12 months = $20,400
2% of sales in a typical $1M+ revenue year.even an off year like 2020 at $500K+ still looks good.
the out of pocket/cash expenses for the PHOF, historically, been ridiculously low - coming in at around 10% of revenues. they are a venerable 'cash cow', retaining ~90c on the dollar.
due in part to its longevity and non-profit status, the PHOF business model enjoys:
1] no debt service on their machines,
... since the collection is paid for
2] a volunteer staff drawing no salaries,
... including an architect and technician
3] at trop location, no rent. the building was paid for
4] at strip location, 80%+ of the building is paid for. the interest on the remaining debt equates to 'rent' of approx 25c sq ft
4] no property taxes on their real estate holdings
5] no income taxes
earlier in this thread, people were admonishing others for telling tim how to run his business. but in all seriousness, what advice would you need to give him other than "be sure to pay the electric bill".
in fact, if the PHOF had to close [as they did for 12 weeks in 2020], their out of pocket expenses would be close to ZERO. they are much better positioned to weather a storm compared with a less fortunate for-profit that might have recurring out of pocket expenses such as debt service on their expensive modern machines, salaries/wagers, payroll tax, rent/property tax, and income taxes.
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So the charitable donations are BS compared to cash flows? Is that extra money possibly going into the new building?
1 year later
Quoted from Aurich:There's no "mission" to continue if the entire purpose, to showcase pinball, literally isn't working.
I tell people to not bother going, and it's not because I don't like the Salvation Army, it's because the PHOF is not interested in actually having running games for their visitors and it's just going to lead to disappointment.
Was just there a little over a month ago. The building is nice and it is so much more convenient to the Strip, but there were so few games I wanted to play. Lot's of pins that were at the old location were not at the new one. Those Homepins are hot garbage. If there are nice pins to play, I'll visit multiple times during a stay. We visited once this last trip.
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