Quoted from Ericpinballfan:
True and True.
What I meant was the traffic to arcades and indoor fun will take 3-5 years to cone back to what it was. Even a year from now most will be at 50% of foot traffic it was. If you cant survive on that, then stop the bleeding now.
Two i know out here on west coast are currently shopping storage solutions. Open back up in a year or 2 in new locations.
We can survive on 25% of pre-pandemic income, which seems entirely feasible, but for now I am questioning even that low bar assumption. Now you might say, with that kind of profit margin, why don't you have oodles of reserves ? Well, there was debt to start the business, and at 25% we don't pay any of it down, but luckily its not overwhelming right now. Second, we used all our first 18 month revenue to increase what we offered to people, since the effort seemed to continue to grow month over month. But yeah, hindsight would have helped a lot here. Even during the pandemic, I remained overly optimistic (which is surprising for me to do) and kept assuming it would be shorter and we would do a better job getting this under control. So I spent additional funding to get some more games operational and put in a bunch of infection control measures. Those expectations were not met. Science did not win out over "freedom" in this instance. When you can still walk into the local Walmart and there is so little corporate oversight that even their own employees are not being required to wear a mask (despite the governor requiring it) then you know we are all just hosed. As I said I have had really low expectations, but have come to realize they weren't low enough .... keep digging.