Pool Table Business

Type: Entertainment / Leisure

Key Product/Service: Pool Table Rental and Gaming

Technology Considerations: Pool table machine, coin-operated mechanism (for payments), maintenance tools.

Market for the Product/Service: Areas with a youthful population, near colleges, universities, restaurants, and bars.

Key Inputs into the Business:

1. Pool Table Machine
2. Pool Table License
3. Rental Space
4. Pool Table Attendant (optional)

Product/Service Preparation Process:

1. Acquire a pool table machine (new or second-hand).
2. Obtain necessary licenses and permits from the Betting Control and Licensing Board.
3. Secure a suitable location with high foot traffic, preferably near colleges or universities.
4. Set up the pool table machine and coin-operated mechanism for payments.
5. Determine the price per game and ensure the proper functioning of the coin machine.

Quality Considerations:

1. Regular maintenance of the pool table machine to ensure smooth gameplay.
2. Proper functioning of the coin-operated mechanism to prevent revenue loss.

Cost of Investment:

1. Pool Table Machine: Ksh 40,000 (second-hand)
2. Pool Table License: Ksh 5,000 (per machine)
3. Application Fee: Ksh 250 (per machine)
4. Rent: Ksh 15,000 (monthly)
5. Pool Table Attendant: Ksh 300 per day (optional)

Required Operational Infrastructure:

1. Pool Table Machine
2. Coin-Operated Mechanism
3. Rental Space with Adequate Lighting and Ventilation
4. Seating Area (optional)
5. Maintenance Tools and Supplies

Most Suitable or Viable Location of the Business:

1. Near Colleges or Universities
2. Areas with High Foot Traffic and Youthful Population

Potential Sources of Investment Capital:

1. Personal Savings
2. Small Business Loans
3. Partnerships

Requirements for Effective Management:

1. Operational Oversight: Monitor the functioning of the pool table machine and coin-operated mechanism.
2. Customer Service: Ensure a positive gaming experience for customers.
3. Financial Management: Budgeting, revenue tracking, and expense management.

Role of Mobile Phone and ICT in the Business:

1. Communication: Coordination with staff and customers.
2. Payment Tracking: Monitor coin machine transactions for revenue tracking.

Statutory Regulations and Licenses:

1. Betting Control and Licensing Board License
2. Business Permit
3. Health and Safety Compliance

Pricing:
Game Fee: Set the price per game (e.g., Ksh 50 per game) based on market demand and competition.

Profitability:
Potential Revenue: Ksh 1,500 per day (with a small pool table business)
Profitability depends on a regular flow of customers and efficient management.

Next Steps to Take:

1. Obtain necessary licenses and permits from regulatory authorities.
2. Procure equipment and set up the pool table in a suitable location.
3. Advertise the pool table business to attract customers, especially among the youthful population.
4. Monitor operations closely and adapt strategies for growth and profitability