Why He's Buying "Dead" Bowling Alleys Nobody Wants

Mike Fagan is a former professional bowler who spent 13 seasons on the PBA tour before getting his MBA at UC Berkeley Haas and working in management consulting. In April 2025, he acquired Ten Pins and More, a bowling alley in Rio Rancho, New Mexico, for $2.05 million including real estate via SBA 7A financing. The bank classified the deal as a turnaround. Today, he owns two locations with a third on the way, operates remotely from Dallas 600 miles away, and is scaling toward $8-10 million in revenue across 3-5 locations.

He explains:
◼️ Why bowling alleys are undervalued, below replacement cost, and have almost no competing buyers
◼️ How he got SBA financing on a deal the bank said wasn't cash flowing enough to cover the payments
◼️ The zero-COGS economics behind bowling and why the business fills itself four days a week without marketing
◼️ How he went from flying in every week for nine months to running the business fully remote from 600 miles away
◼️ Why his pro bowling background gives him an acquisition advantage that no other buyer in the space can replicate

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