A Cryptocurrency-related Business (Pitch) - page 2.

MonsterV

legendary

Activity: 2212

Merit: 1008

Quote from: exstasie on September 07, 2019, 02:07:49 PM

Quote from: Pipdips on September 07, 2019, 08:33:14 AM

A warehouse location with a few Bitcoin ATM's, and dozens of desk-like booths with computer desktops with online games that are connected to crypto-currency. Smoking is permitted at the desks. Energy drinks and vape products can also be purchased and consumed at the game desks. The game desks will be rented by the hour by paying with Bitcoin but the clients will be given cards that they can use to essentially run tabs as they hang out and buy stuff. The tab is so they do not have to worry about paying until they want to leave. Services will be made somewhat affordable for younger people but it is also a place they know they will blow all their money but enjoy doing it.

Sounds like an internet cafe, with Bitcoin ATMs and vape sales thrown in. You'll need to bank a lot of profits off the ATMs (and you may need to get a money transmitter license and register with FINCEN with those) and merchandise because internet cafes just aren't profitable anymore due to high rents. NYC and the SF Bay Area are both getting extremely expensive.

Also, I'm pretty sure smoking/vaping bans will make that part of the plan problematic.

Well it's true this is clearly an internet cafe or game center that is equipped with a Bitcoin ATM and vape shop. And it is also true that internet cafe are not profitable these days, not because of expensive rental fees, but all have been replaced by smartphones, smartphones make everything more efficient than a PC.

If I suggest, it's better to turn the business into a cafe, because the cafe's share is getting bigger in the future, moreover the services provided @OP are very interesting and innovative. Honestly, many internet cafe in my area have gone bankrupt, this proves that the market share is starting to be low.

davis196

hero member

Activity: 3094

Merit: 929

Smoking....Young people....open late at night...blowing off all their money while they are enjoying it....
Hmmm...You can add hookers,alcohol and a strip club+casino and I'm in. Grin

Im' sure that the authorities won't allow you to open such place,but good luck with this project.

1Referee

legendary

Activity: 2170

Merit: 1427

In Asia these type of 'cafes' tend to do quite well. I have seen various documentaries and vlogs where people literally spend every single hour that they are open inside. It's almost like a second home to them. I however don't know if there is much demand for a similar concept within the US.

The thing however is that the profit margins are quite low if what you have pointed out will be the main source of income. It's going to get very expensive legally to set up an ATM if it's yours. Your best shot is to contact manufacturers of Bitcoin ATM's with the required licenses if they are willing to locate one in your building, that way you don't have to carry that cost on your shoulder.

fiulpro

hero member

Activity: 1862

Merit: 830

Smoking is permitted on the desk and you can purchase vape and all?
There is a reason all of this is banned in public place and what do you think you can get a smoke absorber around each desks ... ?
Like Is it even possible .
Lemme tell you :+
It lacks proper community insight and it actually stands for your ideas of a workplace.
Well sure a workplace should be fun but it should also be comfortable.

Pipdips

member

Activity: 210

Merit: 13

Quote from: TheCoinGrabber on September 07, 2019, 02:01:59 PM

It's a big turn off if there's no separate smoking area.

I think you are right about that. Actually the indoor smoking areas might not fly that well in the USA. Unless it is pot? It is like everybody smokes pot now-a-days and there are not as many cigarette smokers anymore. The point is that it is that kind of environment that young people can kinda let loose and feel free to do what they want to do without enforcing any guilt around everything. However, I suggest that we do not sell or allow alcohol at the place.

Quote from: TheCoinGrabber on September 07, 2019, 02:01:59 PM

So basically this is like those 24-hour Korean and Japanese internet cafes that also sell bitcoin merch?

Yes! Exactly that. In fact, I'd like it to be rented in a very large size warehouse, large enough to have a skate park incorporated into the whole mess.

exstasie

legendary

Activity: 1806

Merit: 1521

Quote from: Pipdips on September 07, 2019, 08:33:14 AM

A warehouse location with a few Bitcoin ATM's, and dozens of desk-like booths with computer desktops with online games that are connected to crypto-currency. Smoking is permitted at the desks. Energy drinks and vape products can also be purchased and consumed at the game desks. The game desks will be rented by the hour by paying with Bitcoin but the clients will be given cards that they can use to essentially run tabs as they hang out and buy stuff. The tab is so they do not have to worry about paying until they want to leave. Services will be made somewhat affordable for younger people but it is also a place they know they will blow all their money but enjoy doing it.

Sounds like an internet cafe, with Bitcoin ATMs and vape sales thrown in. You'll need to bank a lot of profits off the ATMs (and you may need to get a money transmitter license and register with FINCEN with those) and merchandise because internet cafes just aren't profitable anymore due to high rents. NYC and the SF Bay Area are both getting extremely expensive.

Also, I'm pretty sure smoking/vaping bans will make that part of the plan problematic.

TheCoinGrabber

sr. member

Activity: 994

Merit: 302

It's a big turn off if there's no separate smoking area. Grin

So basically this is like those 24-hour Korean and Japanese internet cafes that also sell bitcoin merch? I think the biggest challenge would be how to relate the games to crypto - unless you're also in the business of game development.

Pipdips

member

Activity: 210

Merit: 13

Business Name: Ompahlos
A futuristic store that is a step ahead of the rest...

Concept: A warehouse location with a few Bitcoin ATM's, and dozens of desk-like booths with computer desktops with online games that are connected to crypto-currency. Smoking is permitted at the desks. Energy drinks and vape products can also be purchased and consumed at the game desks. The game desks will be rented by the hour by paying with Bitcoin but the clients will be given cards that they can use to essentially run tabs as they hang out and buy stuff. The tab is so they do not have to worry about paying until they want to leave. Services will be made somewhat affordable for younger people but it is also a place they know they will blow all their money but enjoy doing it.

Other services: We also sell crypto-currency products like cold storage wallets, and funny t-shirts and stickers about Bitcoin. We will include other cool futuristic products that will appeal to our gamer client base, like electronic scooters, electric skateboards, drones, and other products that are the newest, the latest, the greatest. Cutting edge services like the best pre-releases on new games and counsels, so we will work closely as business-to-business insiders for gaining access to pre-releases and sneak peaks. Oh and definitely we can cater to the Artificial Intelligence and augmented reality scene (!!!). We will always be a step ahead the rest, with the latest and greatest robotics technologies for consumers that will keep people coming back to the store and keep people inside the store hanging out and spending money, participating in gaming events, taking classes, and networking with people, connecting to people and the technology, making friends.

Decor: It will be open late: hours are 12 noon until 4AM in the morning. It will be located in a cool yet gritty USA city like in Brooklyn, New York or Oakland, California. It will be decorated cool like with graffiti inside the building similar to graffiti at skate parks, so that it will not be a totally sterile environment but more of a creative space for making people feel more comfortable. At the same time, there will be heavy cleaning services performed outside the hours of operation.

Business Basics: Our primary language for business is English. All laws will be followed to the very best of our ability. Ethics are very important. It will be a fully legitimate company that follows all of the laws including tax payments. The business has an impeccable reputation for playing by all the rules. This is a completely debt-free business. No loans will be taken, unless a generous outside party agrees to service the loans for free, or if they flat out gifts the business some Bitcoin or cash.

Topic: A Cryptocurrency-related Business (Pitch) - page 2. (Read 390 times)