Sounds like he might be shooting himself in the foot in the way of what he's charging.
150 tables.. figure 10 people a day at each table (and most of the time, there will be multiple people at the table so he's probably getting at least twice as many views than that) and that's 10500 views a week. All of this for a 3x2 ad that he's charging $15 a week for?! And this is direct marketing in the exact locale of the business. That's beyond dirt cheap. He could easily charge twice and still be about 1/4 of what any advertiser would have to pay in a paper, for the same size ad. The Coffee News publication starts at $30 a week for the same size ad and goes up to $50 for bigger cities. His publication sounds like a great place to advertise!

Great idea though.. and granted.. printing costs would be extremely low with his business model.