(Topic ID: 216266)

Resurrecting a failing pinmuseum business ?

By pookycade

5 years ago


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  • 193 posts
  • 83 Pinsiders participating
  • Latest reply 5 years ago by textaddict
  • Topic is favorited by 28 Pinsiders

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    #35 5 years ago

    Honestly it's probably never going to be profitable. If you want to minimize your headaches and time there then alcohol and food are terrible ideas. If you just like having a place to play in your town and for the public to play, do it as cheap as possible, use the business to expense the games, keep them clean and playing well and find some kids you can trust to run the front door. It won't make much or any ever but if you enjoy having it then that may be enough to make it worth it.

    #37 5 years ago
    Quoted from pookycade:

    I’m inclined to agree with you here. More add ons, more problems. And really I don’t care if it makes any money. We all have loss leaders in our lives. I just need it to be a stable and affordable loss. However one caveat is I believe one can only take the capital depreciation on a money losing business for something like the first 2-3 years. Not entirely clear on this but my accountant mentioned something like that.

    Correct, in most cases you can not keep expensing without showing a profit in 3 years. You also would have issues with the business owning the games if you close it down. If you sell games that are depreciated through the business you also take a tax hit. You might look into owning the games personally and leasing them to the business. Lots of different ways to set it up and all have draw backs.

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