Licensed Pinball
Licensed Pinball
I'm trying to invest to go on a trip to Europe for my graduation, is a pinball machine the answer?
I'm still a Junior, but I'm thinking our senior class (especially those who are in full IB with me) should go to Europe when we graduate. That way we can practice our French, and I can practice my German. It would also be great just for the fun of it, but I know it costs money.
Do they charge a lot for a big group going to Europe? Are there student discounts?
My plan is on buying a $1,500+ worth pinball machine that will soon pay for itself if I put it in a barbershop or some public place.
Would I have to have some sort of license and tax deduction for that? Is the building's owner's consent enough to be able to install my pinball machine there?
What are other ways to invest in more money?
Sadly, you're about 25 years too late. The days of making a fortune by investing in pinball machines are gone. There are exceptions, but it's tough to find a highly profitable location that isn't already taken.
By the way, new pinball machines are closer to $4000 than they are to $1500. There's only one company still building them today, Stern; their last competitor threw in the towel nearly a decade ago in late 1999! You can get a very good used machine for $1500, but it will also earn more slowly than a new one.
Whether you need a business license or not depends on your city and state, and tax deductions questions need to go to people that know tax accounting. (Quick answer, yeah, you get a tax deduction for any business expense, but don't forget to report the income too!) And don't forget that the barbershop (your example) won't let you put your pinball machine in their location for free -- plan on having to split that mountain of quarters in half.
The other part of your question: Yes, there are a lot of organizations that put together travel packages to Europe for students. Ask your German teacher, or have your friends ask their French teacher; chances are good that they receive information about those things.
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