I'm thinking about open up a card shop
kobefan1
Posts: 494 ✭✭✭
Hey, everyone I was thinking about opeing one here in philly....I would like everyone in put like about the good and bad and what mistake not to do like the other card shops do that are no longer around. I know ebay is what happen to some but I'm sorry there is nothing like going into a card shop and opeing a pack of cards. thanks for any input.
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Comments
If you have enough money to open a B&M card shop, you
have MORE than enough money to establish an online presence
on BOTH EBAY and stand-alone sites.
B&Ms make the landlords rich, and seldom profit the retailer
to a satisfactory level. Running a B& M is like buying a job.
the overhead is just too high, and ebay is like a card show every night of the week. Unless you had something diffrent..coffee shop, or "hobby" type store with kids, parents spending money, etc I dont think it could work.
pat
Why open a store and only sell to your neighbors within a 20 miles radius.............. when you can save the overhead costs (rent, utilities, employees) and just make a great website full of highly desired stuff and sell to the whole world..... all for almost free.
The Interent killed the card shop and card show...... in a good way
my site CenturyOldCards.com
<< <i>ok thanks everyone for your input now looking at it I don't think it would be a good thing to open a card shop now. thanks again >>
Wow, that was pretty easy, didnt take long to talk you out of it!
If you dont want to do Ebay, I would suggest making your own store via a websight maybe?
www.kobefanscards.com
<< <i>OT - How were you able to get such a big avatar?? They usually will not allow it bigger that 100 x 100 right?? >>
I don't know but thats a cool avatar. First time I ever seen one that large.
Steve
<< <i>.....First time I ever seen one that large..... >>
I never get tired of hearing that.
The Benefits:
- Get to do something you love and possibly make a living at it.
- Place to meet people for buying rather than meeting like drug deals or going to their houses.
- You'll get a regular core of customers who think of you as a "buddy"
- Pride of ownership
The Cons:
- Lot of time spent managing online presence
- Cost of labor if you don't want to run the store yourself
- Fairly high startup costs
- Landlords
- Shoplifters
- Recordkeeping and taxes
Been there, done it
<< <i>ok thanks everyone for your input now looking at it I don't think it would be a good thing to open a card shop now. thanks again >>
Wow. You are easily convinced.
Be honest... You had no intention of ever opening a card shop.
"Molon Labe"
Make your place kid friendly with YuGiOh tournaments and such and you might be able to do it. I would also consider making it a comic/card shop.
<< <i>Response to your PM
the overhead is just too high, and ebay is like a card show every night of the week. Unless you had something diffrent..coffee shop, or "hobby" type store with kids, parents spending money, etc I dont think it could work. >>
Bingo. Could not have said it better.
I started on Ebay with less than 300.00. I don't just stick to one category and I am always studying other categories learning about them. I spend 2 to 3 hours a day browsing Ebay just looking at random categories.
Nick
Reap the whirlwind.
Need to buy something for the wife or girlfriend? Check out Vintage Designer Clothing.
My advise would be to contact about a dozen card shop owners. I would not contact any shops in Philly but use the internet and contact owners of shops in other states. Send 'em an email first, don't cold call them. Ask 'em some important questions about what/how/when to open a new shop. Most card shop owners would be very helpful in this area. That's where you best advise will come from (the horses mouth) not from this board. I am sure most of the responses on this board are genuine but you really need to speak with card shop owners and get their take on it.
Steve
I would guess you need about $50k or so to open a shop and have a decent cushion in case business starts off slow (which it inevitably will).
You can do it with the right plan.
Good luck to you!
<< <i>if you are going to have a junk wax (closeout) section, i can supply you. i am in new jersey, but very close to the delaware river. probably about 20 minutes from philly. you can pm me here or email me at cohocorp@aol.com .
pat >>
Do you have early 80's Football? I live in south Jersey.
First Cards ever collected - 1978 Topps Football.
Working on a collection of the Top Ten FB Cards of each year from 1957-1987.
-100% honesty and trustworthiness. Look at the business Steve Hart does because of his honesty.
A simple maxim...the more honest you are, the more money you'll make.
If you're 75 or 80% as honest as the top guy, you don't necessarily get 75 or 80% of his/her revenue, repeat business, etc. I think there's a big gap between honesty and dishonesty in the card business. There are alot of guys that try to cut corners, and no one wants to deal with them.
The big flaw 80% of card shops have is, thinking as long as they put cards out in cases, they'll sell themselves.
I'd rather be at 100% in one category, than 70% in 5 or 7 categories. Just grading honestly is rare.
I'd go through 10 or 20 or 30 card shops, dealers, online or off and see what bugs you about them, what they could improve on. Like Larry Fritsch, used old time grading standards. Or questions in your mind they don't answer. Go through ebay listings and look at the reasons why you wouldn't buy something. Not enough trust, uncertaintly. That'd be my starting with customer service and service in general.
There's alot to it. Any kind of store is tough.
But most models are way too similar. You won't succeed that way.
This topic comes up from time to time.
It's very complicated and there's way more to opening/running a business than anyone can ever imagine.
Startup cost? Depends on what kind of inventory you're starting with - one could easily go thru 50K - finish out to a storefront - rent and the deposits, display cabinets, a zillion items needed to open the doors.....
In Texas one has to pay personal property tax on everything inside the store - this has nothing to do with property tax for the actual building.
One should start with a comprehensive business plan - the bank will not even consider a loan without one.
A key to a good store is Superb customer service and a diverse inventory - i.e. - not just all the new modern cards and vintage stuff but items that will keep people coming back - i.e. - jerseys, hats - items relevant to your area - schools, teams etc.
Internal and external marketing strategy:
1. External - send out mailers - like valupaks with a "hook" to get people into the store - e.g. buy one get one free type thing. Local radio and local area newpapers also would be good.
a. Signage - a good sign for your store that will act as an advertiser of the shop is not cheap - the sign and monument that holds my sign set me pack 8500 bucks.
2. Internal - e.g. getting people to bring in friends - reward them with something - not set up as a "bribe" but rather - ask people how they found your shop and if they reference one of your customers, send them something or give them something when they come into the store - have free raffles - awards for good grades - special evening rips of new product - signings by local players - e.g. if there's a minor league team in your area or something like that.
I can't stress how important customer service is - people hate "surly" shop owners.
When you own a store - there's all kinds of taxes and bookkeeping demands that will surprise ya!
The store will need security and a decent safe to secure hi end items at nite.
Unless you've got family - ya gonna have to have some employees - and there's all kinds of rules for that - I find using Paychex to pay my employees the easiest - but I also have a bookkeeper and a CPA for my office - not talking about a card shop.
Rent: an area with good traffic - easy parking - easy access - is not cheap - even a 1000 sq ft. could cost up to 3K per month.
This is just some quick thoughts - I wish you all the best in your dream - it's a good one!
Say you wanted to open up a card shop on eBay, like blowoutcards who sells boxes and cases, where do you get the wholesale boxes? I was looking at upperdeck's site and to apply for a distribution form it appears you need a physical card store and take pictures and have information documented.
Is there a way to be able to purchase cases and boxes at straight from the manufacturer prices if you are only running an eBay business? I really wanted to try this just need to find out how to get the boxes at face.
Any help would be awesome.
Don't tell anyone that you're a Cowboy fan.
If you decide at some point to come out of the "Jerry Jones closet" make sure that you are heavily insured.
pick and choose. You must buy the duds too.
When i had my store, me and 2 other guys would always go in so we could meet the case requirements too.
That was almost 20 yrs ago so things might have changed.
Not sure how one could buy with just an ebay presence.
Perhaps some get away with it by using a friend that does have some type of store.
Steve
<< <i>Hey Stone193,
Say you wanted to open up a card shop on eBay, like blowoutcards who sells boxes and cases, where do you get the wholesale boxes? I was looking at upperdeck's site and to apply for a distribution form it appears you need a physical card store and take pictures and have information documented.
Is there a way to be able to purchase cases and boxes at straight from the manufacturer prices if you are only running an eBay business? I really wanted to try this just need to find out how to get the boxes at face.
Any help would be awesome. >>
Sorry the wholesale biz is out of my understanding.
I did meet a guy who came to my office that was part of one of the biggest wholesalers in the early 90s - during the boom - they got wealthy and they the bottom fell out. The usual suspects - "over-production" and too many different products.
If ya really wanted to lead the wholesale biz? I would try to go to work for one of those guys if ya live near one.
For sure it takes an abundance of capital - loads of money - and there's plenty of risk.
As Steve said - ya gotta take the good with the bad - and the wax box business is very unpredictable - one can get stuck with a bunch of product that doesn't sell - sorta like having a lot full of V8 F-150s!
Sorry I couldn't be of more help.
mike