Entry # 18
Apologies for the lack of updates! Life, new GF, new puppy, increasing amount of 9 to 5 work, etc. I plan to update more frequently (more than once every 6 months anyway!). I saw my name mentioned in another thread, so I will update the status of my location, and try to answer Sup3rdaddy's questions afterwards.
Well, January to April passed with a few fixes and a few machines going in and out. IJ 93' went in at one point, and was OOO (Out of Order) more than it was up. What a beast to maintain and fix on location. Worse than TZ in my opinion.
April was time to renew the contract with the location. They delayed for a long time and would not meet. As a business strategy (and since two new locations have popped up in town), I decided not to hold the leagues tournaments at my location, and I ended up pulling out AC/DC Pre and Met Pro (the two biggest earners) and left ST Pro, Whirlwind and LotR.
After a couple of weeks, the locations manager contacted me and set a date for the meet. Apparently, there were a lot of questions from customers regarding where the pins went, and when they were coming back. Once again, money talks and BS walks. Once they saw that their bottom line was affected that is.
The new contract negotiations went great! Every 3 months we review the contract to determine if the split is fair. More traffic (booze and food sales) means more percentage for me. As it stands, we are at 75/25, with 5% coming off the top for parts and supplies.
I have dropped the # of pins to 4 from 5. 5 did not increase revenue, it just split it up among machines and my weekly visits to clean took that much longer.
Currently at the location are Whirlwind, AC/DC Pre, ST Pro and LotR. Incoming are WoZ (end of Sept, will replace WW), MMr (will replace ST Pro) and potentially TWD (will replace LotR). I have a decent stable of pins at home, so every once in awhile a pin will swap in while a pin gets shopped head to toe. I tend to put every proactive protective measure on my pins before going on location, clean and fix regularly, so they stay in very nice shape.
Now, for questions I saw posed in the other thread ...
Get insurance. No question. It's fairly cheap (around $800 for the year), and that includes 1 million in liability.
You will not get rich doing this. I do it for the league, to promote pinball, and to help defer the costs of my collection. I'm into the fourth year at this location, and business keeps improving. Summer is slow, winter is great.
Rotate games. It keeps the players interests up. If something is still doing well after 3 months, keep it there (AC/DC for me). If it's a dog (I'm looking at you, Tron) replace it.
I'll try and keep up on the updates. My shop is getting insulated and boarded in the next two weeks, then I have to organize, take stock, etc. I have 2 personal pins in the restore queue, followed by 3 client restores. Busy winter plans!
Keep on flippin'!