I want to open up a lounge/hangout type business in 2012?

[BigDaddy]

is that a good idea an if so what kind of stuff should i get to open it up, like sound system, TV's etc. any suggestions would help. an if you dont think its a good investment what would be one for 2012?
i will sale food an drinks an have pool tables for people to play an they will cost money to play an other stuff like that

 

[SteveD]

The question is, how much money can you invest and can you build out a decent place for your budget. If you are going to be a hands-on owner and have access to your target clientele, you could be successful over the next few years. If you plan on being an absentee owner or your target clientele is not in the immediate area, things are going to be a lot rougher. Just to throw out a stat - 75 to 80% of new bars/restaurants fail with 4 years.

 

[Henry]

No use of you asking here. Complete a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis and write a business plan to prove that the business idea is workable. Go to http://sba.gov/smallbusinessplanner/plan/writeabusinessplan/index.html or http://www.score.org/template_gallery.html for instructions on how to write a business plan and sample business plans.

 

[LynnBodoni1]

How is this place going to make money? It's one thing to want to open a place where YOU would like to hang out. It's another thing to realize that the sound system and TVs and everything have to be paid for, somehow.