There is an arcade near my town's cinema that offers about 30 different games, including air hockey, Daytona, Manx TT, virtual cop, and various other games. I honestly don't know how they stay in business since I rarely see anyone else there. My friend and I go there once every few months to play Initial D and maybe spend the remaining coins in our pockets on the Jurassic park shooting game. They have no fighting games there, and most games are at least semi 'modern', with most of them being eye catchy and having special set ups. This might draw people in off the street sometimes to come in and have a look, but I really think the more important thing for an arcade to do is form a community.
I love fighting games, and I'm hooked on guilty gear xrd at the moment, so I play in a local tournament every fortnight, and play local casuals every other off week. There are about fifteen of us, and we pay a game/hobby shop ten dollars each to use their store for the evening to host our tournament, plus buying drinks or food. There are also other groups that come in to play smash bros or whatever. Sometimes we might play a different game like blazblue, or an older 2d fighter. Basically I think that a fighting community is the key to actually getting people into your arcade, as I would much rather sit on a proper cab to play games like in Japan, rather than have my mate hook up his ps4, or laptop, to a tv. Have a bunch of fighting games there and we would all play them. I don't know the laws regarding building your own cabs and running abandonware on them for your own profit, but it would certainly be cool.
Initial D is cool as hell, but I am not returning week after week with ten friends to play it competitively. Fighting games achieve that potential, while racing or shooting games are more for drawing in casuals. You need both, but you really need to focus on what you can provide to create a community.