The $2-million Lakewood Hop was funded directly by Copeland--whose Pacific Southwest Equities has built more than 800 homes in California--and by Medley, who said he was looking for a way to invest money from records, concerts and an expected jump in income this summer when the latest Sylvester Stallone movie, "Cobra," is scheduled for release. The movie's title song, "Living on Borrowed Time," is sung by Medley.
Medley and Copeland are negotiating to open at least two more Hops this year--in the city of Industry and Riverside. They also hope to open one in San Diego next year but still are looking for bank financing, Copeland said.
With an eye on growth outside California, Copeland said he expects soon to set up franchise operations in Texas and Oklahoma. "We knew from the first day we opened that we'd eventually be opening a lot of clubs."
The longevity of the '50s craze, however, does have Medley concerned. "I think it's a viable concept for another 20 years," he said, then added, "at least I hope it is." If '50s music fades, he said, the club could eventually switch to a '60s format.