being that there is a pizza place next door is good I think, as brings in traffic, provide some seating and a small icecream bench and guys and families could have a small night out, hold pinball comps etc.

I like the idea of the led sign inside the arcade saying pizzas are ready 

I know I would volunteer in my family to order and pickup the pizza in my local area if there was one of these next to a pizza place once a week.

Also could have the projector hooked up to a x-box / PS3 for big screen games for 30 minutes multiplayer sessions - $20 for 30 minutes for 1-4 people.

Maybe your mate could do a deal with bumper or another pinball seller to house some machines at 50/50 share and a small fee to hang company banners on the sponsor wall promoting Pinball Sellers and Spare Parts Providers  help fund the start and get some machines in there.