How do I check a pool hall’s tables and equipment before buying?
List every table and ask who owns it, since some may be leased or placed by an operator. Inspect slate, cloth, cushions and lighting in person, count cues, balls and racks, and ask what moving the tables would involve if the lease ends. Have the list added to the purchase agreement.
Tables are the heart of a pool hall, and they are heavy, specialized and awkward to replace. A seller may say the equipment is included, but that can mean very different things. Before you rely on any figure in the seller’s books, walk the floor with a list, a notepad and, ideally, someone who services billiard tables. What you learn there feeds directly into your due diligence.
Find out who owns each table
Ask the seller for a schedule of every table showing the owner, the make and the age. Some halls own their tables outright. Others lease them, or share coin-operated tables with an outside operator who collects part of the take. Request copies of any lease or placement agreement and ask whether it can transfer to you. Ask your lawyer whether each item of equipment transfers under the agreement.
Inspect the condition
Check whether the slate is level, how worn the cloth is, whether the cushions still play true and whether pockets, lights and racks are intact. Ask when each table was last re-covered and who does the work. Age and upkeep records matter here as they do with any equipment, much as they do when you check a nightclub before buying. Cue, ball and chalk stock should be counted too.
Plan for moving and replacing tables
If the landlord will not renew, tables may have to move. Ask a specialist what taking down and reinstalling a table involves, and whether the slate can be moved without damage. A buyer who knows this ahead of time can negotiate the lease with better information. Ask your lawyer to list the equipment in the agreement so there is no dispute at closing.
- Schedule of tables with owner, make and age
- Copies of leases or operator placement agreements
- Slate, cloth, cushion and pocket condition
- Cue, ball, rack and chalk stock
- Service and re-covering history
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Due diligence
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentEquipment valuation: How to do it
- 02Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 03Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
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