In November 2003, Greg Peterson got a rude shock courtesy of the Minnesota Department of Transportation. He learned that the state, via eminent domain, was taking the land his company occupied to make way for the expansion of Crosstown Highway 62. Peterson didn’t get word directly from MnDOT, though. Instead, his barber, who’d read about it in that morning’s newspaper, called him.
For more than 30 years, Peterson had built his Minneapolis company, Peters Billiards, into the largest single-store game-room supplier in the five-state area, with $7 million in annual sales. His store’s location on Lyndale Avenue South is a retailer’s dream, visible from the Crosstown near the I-35 interchange. “Between 225,000 and 250,000 cars pass by my store each day. It’s fabulous advertising,” he says.
But the bad news from MnDOT may turn out to be a blessing in disguise. In September, Peters Billiards will complete its new store, located just 30 feet from the old one. (Phase one of the new location was finished in January.) For $225,000, Peterson purchased a vacant lot behind his old building. That space gave him room to build a 37,000-square-foot building for approximately $4 million. By tripling his showroom space, Peterson is able to expand both the depth and breadth of his wares.
“We were running out of space in our old store,” Peterson says. “Now, because of the new store, we’re able to expand our efforts in home entertainment centers and the growing category of custom-built bars. So, if you want to buy a bar stool, instead of looking at 30, we can show you 300.” Peters is also expanding its offerings of game-room wall art as well as sculptures, clocks, and neon signs for all rooms in the house. While Peters has competition selling billiards tables, it is the exclusive local retailer of the two top brands, Brunswick and Olhausen.
Despite the added space he gained from the move, Peterson isn’t celebrating the road project. He has concerns about what the dusty and loud four-year rebuilding of the Crosstown—just a stone’s throw from his new store—will do to business.
“We’ve got a great story and a tremendous batch of employees. We’ve got so many things going for us,” Peterson says. He remains confident that his business will weather this transition, though he isn’t banking on much near-term growth.
How will things all shake out? “Ask me in five years,” Peterson says.
