A Cryptocurrency-related Business (Pitch)

[Pipdips]

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.  

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[1714185651]

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[TheCoinGrabber]

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

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.

[exstasie]

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.

[Pipdips]

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.

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.

[fiulpro]

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.

[1Referee]

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.

[davis196]

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

[MonsterV]

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.

[avikz]

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.  

It's clearly an internet cafe business with some additions like Bitcoin ATMs and a vape shop! Definitely it is an attractive way to spend bitcoins for those who want to do so! However, the scope of this business is very limited. Why don't you add some more thing to it to make it more attractive? Let me give you some ideas,

1. A bar -  a separate area for a full fledged bar can be designated or you can serve alcohol at the game counter.
2. An all-inclusive store like Walmart - An all inclusive store with a twist. People don't have to go for shopping physically. They can order items from their game zones and the bag will be ready at the check out point. The customer can then simply pay with their bitcoin while going back.
3. A food court - A collection of all food brands under one roof. But customers will have to pay through bitcoins. They can buy food coupons using bitcoins and spend them at the food court. The food court can later settle for cash with the warehouse management.

These additions will make the business plan more attractive. Everything under one roof and payment through cryptos!

[Pipdips]

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.

Exactly. The younger people of Asia love these cafes.  You raised a great question: Why do we not see the same cafe concept here in the USA?

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

But why? If we just carded everybody and only sold legal products, why not?  It is like A Cryptocurrency House of Sin  

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.

Very good and logical points. The entire retail store industry is on a heavy decline, BUT, some retail stores are learning to aggressively adapt.  A chief buying feature for this Crypto cafe project idea is that we have more going on than just coffee and snacks.  We are going to have the most futuristic gadgets in the world - and I mean that, we are far far far ahead of the curve.  You can not find these things anywhere else.  Plus, we offer a community that kids cannot get elsewhere sitting at home.  The environment we rent out to them is designed to foster new friendships.

Let me give you some ideas,

1. A bar -  a separate area for a full fledged bar can be designated or you can serve alcohol at the game counter.
No Alcohol!  Am I right about that??  Booze is profitable but it is too unproductive, messy, and too troublesome. If anything, we open these cafes in big cities that allow pot.  San Francisco for sure but even New York City has become very lax with pot recently.
2. An all-inclusive store like Walmart - An all inclusive store with a twist. People don't have to go for shopping physically. They can order items from their game zones and the bag will be ready at the check out point. The customer can then simply pay with their bitcoin while going back.
I do not understand what you are describing.  But Walmart is definately a retail giant that is showing to the world that they are not going to be left in the dust.  Walmart is offering more services to keep their clients around, and that is what this project is set to do also.
3. A food court - A collection of all food brands under one roof. But customers will have to pay through bitcoins. They can buy food coupons using bitcoins and spend them at the food court. The food court can later settle for cash with the warehouse management.
Yes, you are so right. But we will offer bomb food, like Asian food carts.  And one of those sushi places with the conveyor belts that deliver sushi.  We really need to stress the futuristic theme -- and sustainability even, but sustainability done right, not just making strides to appease the corporate red tape.  There is also a new industry that vends healthy meals in mason jars inside of vending machines with the ability to have free crypto sent back to your account for returning the glass jar into the machines.  All very excellent ideas.  Do you need a job and want to work for this company?

These additions will make the business plan more attractive. Everything under one roof and payment through cryptos!

Right, and Payment Through Crypto Only!  Very important.  We don't even accept dollars.  The act of not accepting dollars and only crypto--- that in itself places us as a very unique business that is ahead of the curve.  We embrace the future.


Also by the way, I am a non-smoker.  I do not drink or anything but a lot of potential clients do.  I used to smoke.  Back in those days I would have been the first one to sign up an account to sit down and smoke in front of a computer like that in public.  I'd sit there every day.  That is seriously a great way to smoke and enjoy your time, if that is your thing.  Just saying.

[el kaka22]

First of all that smoking thing is quite illegal right now, so you can't really let people smoke there even if you wanted to, you will be punished. Secondly, how the hell is California is gritty? I mean I understand the cool part because it has Hollywood in it but what part of California is gritty?

This is basically a game center with bitcoin theme that's it, there is really nothing innovative about it, hell it has some stuff that literally limits you in some way which is why I doubt it should be really getting any attention, people do this already with non-crypto world and non-crypto ways and it doesn't get too much attention, now add in this and it suddenly becomes more limited.

However, for a small business idea it could be something tiny that gets more cult like community instead of a big attention.

[exstasie]

No Alcohol!  Am I right about that??  Booze is profitable but it is too unproductive, messy, and too troublesome. If anything, we open these cafes in big cities that allow pot.  San Francisco for sure but even New York City has become very lax with pot recently.

NYC decriminalized small time possession of pot, but it's still a fineable offense and smoking/vaping it is definitely prohibited inside public workplaces and commercial spaces.

San Francisco and Oakland do have some cannabis lounges where people can smoke or vape (weed only) inside the premises. You could sell cannabis-infused drinks and things like that. Alcohol isn't allowed at these kinds of bars anyway, but neither is tobacco.

[TheCoinGrabber]

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.

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.

I asked about the smoking area coz I don't want someone else's second-hand smoke. If I did, I'd just buy my own cigarette!  

Also if OP does indeed push through with this business he might want to offer "suites" where basically you have a room to yourself, with a desk and a bed if you want to use the time to nap (perfect for sleep-deprived students and young professionals). I've seen these featured in a show in Japan, these internet cafes even have a shower area, basically almost like a motel.

[Baby Dragon]

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.  

Its a creative way to attract more people, they are usually fascinated when there can do different activities to have fun. Its a pretty good idea but there is still no assurance that people will come and invest in bitcoin because of that, well i'm looking forward to see other post about this since it can possibly made a huge impact on bitcoin. People nowadays tend to love eveything that was made of technology. If the government officials approved it then it will be great because teens are usually up to something like this playing, smoking and etc. and your business will be popular I guess. Good to know that you will follow the rules unlike other people who's using bitcoin in illegal activities.

[Pipdips]

It is of the utmost importance to be an entirely ethical business that plays by all of the rules.

The biggest design theme with this is that it will be a 100% Bitcoin operated business. That in itself should appeal to an angel investor if they are curious and willing enough to make a real and earnest push towards discovering the secrets of Bitcoin adoption. Instead of just talking about it, we will actually execute the idea and make it a reality.

The thought is to have an investor with a very deep Bitcoin wallet willing to help make this concept launch and to ultimately solidify into a very sustainable and a potentially new brand of business model could emerge. It would be a financial research experiment to literally see what happens, to observe and identify the pathology of what does and does not work within the model of a business that is fully started and running on Crypto.

The kids would love it. I mean really.

My hypothesis is that by running a business that is 100% fueled by Bitcoin we will discover a few unique and interesting things about peoples relationships with money, other people, and technology.

[ajaymukund]

As I understand it seems this is an internet business model that has a lot in Asia. But you want to make this model in Europe a mistake. In Europe, I find that every home has their own PC and they really don't need to go to the internet store to use your type of service. How would you answer my question?

[Kakmakr]

Years ago we had loads of these "Lan game" Cyber cafe type establishments and it worked very well. You and a bunch of your friends could rent the seats for a hour or two at a specific tariff and have the place for yourself. The positive thing about this was that every player had the exact same computer specs, because they provided the computers. So nobody had any advantage over anyone else. < One guy having a better GPU card or processor or more memory.. etc. > 

Those Lan gaming days was the best, because you could socialize with friends in the same location, not like multiplayer games that are played over the Internet now, where you do not have a physical interaction with those friends. < It was fun seeing people freak out, when they got sniped >

Anything that would bring back the "Lan gaming" days would get my vote. You also do not need to buy an expensive gaming rig to be able to play with your friends or have a fast internet connection at your home.   <Everyone has the same Ping in one location>  

[redsun114]

The idea is great for countries who are socializing via gaming but if that's not gonna happen in one of those countries people just play online with their friends. I was thinking about more "twitch cafes" type of addition to it, like its still a great place and its still about gaming but instead of making people come together, you are providing a place for streamers and people who want to be streamers. They will have cameras, any game console they want, microphones and all the setup on their systems they want.

All they will need to do is login from their own account to twitch and they will start streaming right away. That would eliminate all the initial startup costs and research process of streaming, yes you will have a lot of horrible streamers come in and fail but there would be a lot of people who come in for hours and start to make money and until they have enough to build that setup at their home they will continue using yours.

[Pipdips]

I have been out there scouting for a location in NYC.  The thing I see is that the city is having a real estate crisis with way too many empty retail spaces.  So I see this as a great opportunity for us.  Another thing I have learned is that our idea is just too small... It needs to be bigger and I mean much much bigger if we plan to really get something cool happening.

So I seen this area at East 34th Street, this is near the Empire State Building.  But the idea is that we need the whole street.  I mean the whole damn street needs to be converted into a new theme of crypto and Bitcoin related commerce with specialty store fronts, crypto cafes, the whole shabang.  Not just one store but a whole massive street dedicated to this.

Sure the rents are high.  But we need a whole (Major) street in Manhattan.  We need government and city support not just one or two angel investors because we need to make a street into a whole new concept style of: Crypto District.

There is already a store on East 34th Street for virtual reality.  See: www.vrworldnyc.com   We need to expand or partner with them, or just buy them out.  Our main partners need to be the city government itself with a push to expand the struggling commercial real estate issues into something more feasible that can solve an interesting combonation of concerns while adapting into the future of digital finance.

The kids will love it.
 
East 34th is busy as hell, that was the one thing I don't like about it.  It's not pedestrian friendly.  Maybe we need to keep scouting.   But we need to build New Yorks new Crypto District, not just some internet cafe, we need a whole road built out for this.  New York needs this.  The world needs this.

[The Sceptical Chymist]

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

I don't know what NYC laws are as far as vaping goes, but I'm pretty sure smoking wouldn't be allowed--you can't even smoke in bars anymore, so my guess is that the law goes for all businesses.  Hell, I remember as far back as 2002 you could still smoke in restaurants but everything changed right around that time (I don't live in NY but close).  And frankly I wouldn't want to be around smokers in an internet cafe-type place, even if it was as big as a warehouse.  Vaping yes, smoking no.

The kids will love it.

That's another reason why smoking and other vices shouldn't be permitted.

OP, I actually love this idea but I question whether the business model is viable.  I've seen a few gaming places in my town go out of business for lack of interest.  Everyone loves the idea of arcades because they bring a feeling of nostalgia, but in reality nobody wants to spend time or money in them anymore.  The same *probably* holds true for computer game-based internet cafes, especially in a place like NYC where there are already so many things to do--plus people already have the option to play awesome games in their own homes.  I don't think the crypto aspect would be enticing to anyone.

On the other hand, I'd make at least one trip to a place like that just to use a bitcoin ATM.  I don't even know where the nearest one is to me, but I'm pretty sure it's more than 100 miles away.