Throwing around the idea again..Opening a game store

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Throwing around the idea again..Opening a game store
Tweet Topic Started: Feb 12 2012, 06:10 PM (3,384 Views)
CarsAndGames	Feb 12 2012, 08:23 PM Post #26
Level 4 Posts: 456 Group: Members Member #4,712 Joined: Jan 28, 2012	SteveNeville Feb 12 2012, 08:18 PM I'm a venture capitalist and business owner who's owned 8 retail shops in the past 10 years. If $100,000 to start a store seems too much, then don't open a retail store. Oh no I know exactly where you're coming from. $100,000 isn't unrealistic at all to spend. But at the beginning I know there places to cut corners. ( Less employees, a little less inventory on certain areas, that kind of deal, not FULL blown advertising campaign for at least the first couple months. Etc.



lol_pc	Feb 12 2012, 08:25 PM Post #27
\m/ (>_<) \m/ Posts: 754 Group: Members Member #583 Joined: Apr 16, 2009	Eltimo21 Feb 12 2012, 08:15 PM lol_pc Feb 12 2012, 08:04 PM Eltimo21 Feb 12 2012, 07:59 PM SteveNeville Feb 12 2012, 07:46 PM Eltimo21 Feb 12 2012, 07:25 PM I completely see your point but he could make a pretty good profit if he does it right. For example he could get a used like new copy of battlefield 3 for $29.99 and sell it for $39.99 or $44.99 and make a 10-15 profit and still sell it cheaper then GameStop. Ok.... Say he buys a game on average for $29.99 and sells it for $39.99. But before he could sell that game he had to buy a store and enough games to fill a store, for a grand total of: -$100,000. He has three employees for his store (at minimum), two of them work a day, 8 hours a day, 355 days (10 off for holidays) at $10 an hour. Plus, $10,000 health benefits for each of them: $87,500 Then there's $50,000 advertising for the year (if you actually want people to know about your store). Then there's electricity, heating etc. $5,000 a year (low end). Then, for every $10 he makes 30-40% goes back into business (inventory, extraneous spending etc.) and 30-40% goes to the government for taxes. So, his $10 profit, as you see it, is really about $2. So, for "battlefield 3" selling at the "10 profit" (difference between what he bought and sold it for) to make him BREAK EVEN for the year, he would have to sell approximately 100-125,000 of them in a year. Or, 350 or so a day... or 35 games an hour on a 8-hour schedule. I'm pretty sure you don't need $100,00 to fill a store with games and why would he need 3 employees? I'm pretty sure he would need only 2. How would he spend $50,000 on advertising? I'm pretty sure he has a good amount of gaming friends that could tell their friends and so on. Surely it is a huge risk but he could have a huge reward. He's has to spend money to make money No offense, but if you're 14, you shouldn't be giving out financial advice... Age is just a number and you don't need to be genius to know how to spend money. No.. But you need experience to know what money really is. You're 14, so i'm gonna assume you don't have bills to pay, mortgage, car, living expenses etc. Until you've tried living on your own, you don't know what money is, and i'll stand by that statement.
	Fin moron do Taazokaan fen kod zeim ul


Jesusthe3dgame	Feb 12 2012, 08:27 PM Post #28
Level 4 Posts: 424 Group: Members Member #3,788 Joined: Apr 26, 2011	CarsAndGames Feb 12 2012, 08:23 PM SteveNeville Feb 12 2012, 08:18 PM I'm a venture capitalist and business owner who's owned 8 retail shops in the past 10 years. If $100,000 to start a store seems too much, then don't open a retail store. Oh no I know exactly where you're coming from. $100,000 isn't unrealistic at all to spend. But at the beginning I know there places to cut corners. ( Less employees, a little less inventory on certain areas, that kind of deal, not FULL blown advertising campaign for at least the first couple months. Etc. Advertising and inventory are exactly the things you DO NOT want to cut corners on when first opening a business.
	website: thisbethesite.com twitter: @ithinksocially


lol_pc	Feb 12 2012, 08:28 PM Post #29
\m/ (>_<) \m/ Posts: 754 Group: Members Member #583 Joined: Apr 16, 2009	Eltimo21 Feb 12 2012, 08:16 PM lol_pc Feb 12 2012, 08:14 PM That's maybe a bit steep but atleast $40.000 is gonna go towards advertising. If it's a local store, you're gonna need local advertisement, which doesn't come cheap. How would he spend $40,000 on advertisement? Running local ad campaigns, in newspapers, on billboards, posters maybe even local radio and TV. I have slight doubts that even $40.000 would cover that.
	Fin moron do Taazokaan fen kod zeim ul


CarsAndGames	Feb 12 2012, 08:29 PM Post #30
Level 4 Posts: 456 Group: Members Member #4,712 Joined: Jan 28, 2012	SteveNeville Feb 12 2012, 08:27 PM Advertising and inventory are exactly the things you DO NOT want to cut corners on when first opening a business. Well there's certain things I know that the place around here had money invested into that didn't sell like HD DVD's for instance ( Some titles they had there have sat for years since they've opened) stuff like that. And cutting corners on advertising I don't mean not doing perse, I mean finding connections, doing barter deals for people. I will advertise for you and if you do for me. Etc



CarsAndGames	Feb 12 2012, 08:31 PM Post #31
Level 4 Posts: 456 Group: Members Member #4,712 Joined: Jan 28, 2012	lol_pc Feb 12 2012, 08:28 PM Running local ad campaigns, in newspapers, on billboards, posters maybe even local radio and TV. I have slight doubts that even $40.000 would cover that. I have connections in local radio, as well as in printing, and marketing. Luckily in my past ventures, I've made VERY good connections and haven't burned any bridges



Eltimo21	Feb 12 2012, 08:32 PM Post #32
Halopwns Before Posts: 1,099 Group: Founding Members Member #77 Joined: Jan 27, 2009	lol_pc Feb 12 2012, 08:25 PM Eltimo21 Feb 12 2012, 08:15 PM lol_pc Feb 12 2012, 08:04 PM Eltimo21 Feb 12 2012, 07:59 PM SteveNeville Feb 12 2012, 07:46 PM Eltimo21 Feb 12 2012, 07:25 PM I completely see your point but he could make a pretty good profit if he does it right. For example he could get a used like new copy of battlefield 3 for $29.99 and sell it for $39.99 or $44.99 and make a 10-15 profit and still sell it cheaper then GameStop. Ok.... Say he buys a game on average for $29.99 and sells it for $39.99. But before he could sell that game he had to buy a store and enough games to fill a store, for a grand total of: -$100,000. He has three employees for his store (at minimum), two of them work a day, 8 hours a day, 355 days (10 off for holidays) at $10 an hour. Plus, $10,000 health benefits for each of them: $87,500 Then there's $50,000 advertising for the year (if you actually want people to know about your store). Then there's electricity, heating etc. $5,000 a year (low end). Then, for every $10 he makes 30-40% goes back into business (inventory, extraneous spending etc.) and 30-40% goes to the government for taxes. So, his $10 profit, as you see it, is really about $2. So, for "battlefield 3" selling at the "10 profit" (difference between what he bought and sold it for) to make him BREAK EVEN for the year, he would have to sell approximately 100-125,000 of them in a year. Or, 350 or so a day... or 35 games an hour on a 8-hour schedule. I'm pretty sure you don't need $100,00 to fill a store with games and why would he need 3 employees? I'm pretty sure he would need only 2. How would he spend $50,000 on advertising? I'm pretty sure he has a good amount of gaming friends that could tell their friends and so on. Surely it is a huge risk but he could have a huge reward. He's has to spend money to make money No offense, but if you're 14, you shouldn't be giving out financial advice... Age is just a number and you don't need to be genius to know how to spend money. No.. But you need experience to know what money really is. You're 14, so i'm gonna assume you don't have bills to pay, mortgage, car, living expenses etc. Until you've tried living on your own, you don't know what money is, and i'll stand by that statement. You're completely right I don't pay bills at all but that doesn't make me unaware how hard it is just to make a single dollar. I don't just go out and spend money on whatever I see, my parents have taught me how to save and how to manage all of my money so I don't lose it on stupid things.



Eltimo21	Feb 12 2012, 08:34 PM Post #33
Halopwns Before Posts: 1,099 Group: Founding Members Member #77 Joined: Jan 27, 2009	lol_pc Feb 12 2012, 08:28 PM Eltimo21 Feb 12 2012, 08:16 PM lol_pc Feb 12 2012, 08:14 PM That's maybe a bit steep but atleast $40.000 is gonna go towards advertising. If it's a local store, you're gonna need local advertisement, which doesn't come cheap. How would he spend $40,000 on advertisement? Running local ad campaigns, in newspapers, on billboards, posters maybe even local radio and TV. I have slight doubts that even $40.000 would cover that. Ok if you say so... He has a lot of free options to choose from.



CarsAndGames	Feb 12 2012, 08:34 PM Post #34
Level 4 Posts: 456 Group: Members Member #4,712 Joined: Jan 28, 2012	Eltimo21 Feb 12 2012, 08:32 PM You're completely right I don't pay bills at all but that doesn't make me unaware how hard it is just to make a single dollar. I don't just go out and spend money on whatever I see, my parents have taught me how to save and how to manage all of my money so I don't lose it on stupid things. Hey don't worry man. By the time I was 18 I had already had 4 cars, all bought by me by working, and I'm on car number...35-40 and I'm 25. My problem is I have an expensive lifestyle, and working for somebody else isn't cutting it.



Jesusthe3dgame	Feb 12 2012, 08:36 PM Post #35
Level 4 Posts: 424 Group: Members Member #3,788 Joined: Apr 26, 2011	Eltimo21 Feb 12 2012, 08:34 PM lol_pc Feb 12 2012, 08:28 PM Eltimo21 Feb 12 2012, 08:16 PM lol_pc Feb 12 2012, 08:14 PM That's maybe a bit steep but atleast $40.000 is gonna go towards advertising. If it's a local store, you're gonna need local advertisement, which doesn't come cheap. How would he spend $40,000 on advertisement? Running local ad campaigns, in newspapers, on billboards, posters maybe even local radio and TV. I have slight doubts that even $40.000 would cover that. Ok if you say so... He has a lot of free options to choose from. Nothing's free. Sweat equity is paid in time, and time is money.
	website: thisbethesite.com twitter: @ithinksocially


CarsAndGames	Feb 12 2012, 08:37 PM Post #36
Level 4 Posts: 456 Group: Members Member #4,712 Joined: Jan 28, 2012	SteveNeville Feb 12 2012, 08:36 PM Nothing's free. Sweat equity is paid in time, and time is money. I'm tired of using MY time to make SOMEONE ELSE money. I make good enough, but working 75 hours a week outside for someone else is killing me



lol_pc	Feb 12 2012, 08:42 PM Post #37
\m/ (>_<) \m/ Posts: 754 Group: Members Member #583 Joined: Apr 16, 2009	Eltimo21 Feb 12 2012, 08:32 PM lol_pc Feb 12 2012, 08:25 PM Eltimo21 Feb 12 2012, 08:15 PM lol_pc Feb 12 2012, 08:04 PM Eltimo21 Feb 12 2012, 07:59 PM SteveNeville Feb 12 2012, 07:46 PM Eltimo21 Feb 12 2012, 07:25 PM I completely see your point but he could make a pretty good profit if he does it right. For example he could get a used like new copy of battlefield 3 for $29.99 and sell it for $39.99 or $44.99 and make a 10-15 profit and still sell it cheaper then GameStop. Ok.... Say he buys a game on average for $29.99 and sells it for $39.99. But before he could sell that game he had to buy a store and enough games to fill a store, for a grand total of: -$100,000. He has three employees for his store (at minimum), two of them work a day, 8 hours a day, 355 days (10 off for holidays) at $10 an hour. Plus, $10,000 health benefits for each of them: $87,500 Then there's $50,000 advertising for the year (if you actually want people to know about your store). Then there's electricity, heating etc. $5,000 a year (low end). Then, for every $10 he makes 30-40% goes back into business (inventory, extraneous spending etc.) and 30-40% goes to the government for taxes. So, his $10 profit, as you see it, is really about $2. So, for "battlefield 3" selling at the "10 profit" (difference between what he bought and sold it for) to make him BREAK EVEN for the year, he would have to sell approximately 100-125,000 of them in a year. Or, 350 or so a day... or 35 games an hour on a 8-hour schedule. I'm pretty sure you don't need $100,00 to fill a store with games and why would he need 3 employees? I'm pretty sure he would need only 2. How would he spend $50,000 on advertising? I'm pretty sure he has a good amount of gaming friends that could tell their friends and so on. Surely it is a huge risk but he could have a huge reward. He's has to spend money to make money No offense, but if you're 14, you shouldn't be giving out financial advice... Age is just a number and you don't need to be genius to know how to spend money. No.. But you need experience to know what money really is. You're 14, so i'm gonna assume you don't have bills to pay, mortgage, car, living expenses etc. Until you've tried living on your own, you don't know what money is, and i'll stand by that statement. You're completely right I don't pay bills at all but that doesn't make me unaware how hard it is just to make a single dollar. I don't just go out and spend money on whatever I see, my parents have taught me how to save and how to manage all of my money so I don't lose it on stupid things. So did my parents when I was your age, but damn was I surprised at how many responsibilities I got when I moved out, first month I lived alone I couldn't believe how fast my money was taken from me, when I got my pay check it seemed like I had all the cash in the world, and in a day, most of that money disappeared to pay for bills, taxes etc. besides all my living expenses I had a total of around $120 to spend on misc. things. No matter how much your parents prepare you, you're never gonna be fully aware of the importance of money until you're out there on your own.
	Fin moron do Taazokaan fen kod zeim ul


Eltimo21	Feb 12 2012, 08:42 PM Post #38
Halopwns Before Posts: 1,099 Group: Founding Members Member #77 Joined: Jan 27, 2009	CarsAndGames Feb 12 2012, 08:34 PM Eltimo21 Feb 12 2012, 08:32 PM You're completely right I don't pay bills at all but that doesn't make me unaware how hard it is just to make a single dollar. I don't just go out and spend money on whatever I see, my parents have taught me how to save and how to manage all of my money so I don't lose it on stupid things. Hey don't worry man. By the time I was 18 I had already had 4 cars, all bought by me by working, and I'm on car number...35-40 and I'm 25. My problem is I have an expensive lifestyle, and working for somebody else isn't cutting it. Yeah I hear you cars aren't cheap especially if you have multiple vehicles. I'm already saving up in a bank account with about $12,000 in it. If you choose to make a store or not its completely up to you. You know a lot about games which would help you a lot unlike GameStop that has employees that don't even play video games or know a thing about them. You don't need a lot of money to buy a lot of games last month I spent about $200 for about 45 games more or less



CarsAndGames	Feb 12 2012, 08:44 PM Post #39
Level 4 Posts: 456 Group: Members Member #4,712 Joined: Jan 28, 2012	Eltimo21 Feb 12 2012, 08:42 PM You don't need a lot of money to buy a lot of games last month I spent about $200 for about 45 games more or less I've spent $350 in the last 2 weeks. and got 125 games that are in their original boxes with manuals and everything, and 400 out of box games so 525 games for $350



Eltimo21	Feb 12 2012, 08:46 PM Post #40
Halopwns Before Posts: 1,099 Group: Founding Members Member #77 Joined: Jan 27, 2009	There you go that's all it takes. What kind of job do you have?



CarsAndGames	Feb 12 2012, 08:48 PM Post #41
Level 4 Posts: 456 Group: Members Member #4,712 Joined: Jan 28, 2012	Landscape Design and Architecture. I helped design all the Steak and Shakes in South Florida, Do all the tree trimming for the Autozones around here. I do all of the Florida Turnpike maintenance. I maintain the entire city of Ft Lauderdale...etc etc



Eltimo21	Feb 12 2012, 08:50 PM Post #42
Halopwns Before Posts: 1,099 Group: Founding Members Member #77 Joined: Jan 27, 2009	Oh haha ok nevermind



Narrasand436	Feb 12 2012, 08:54 PM Post #43
Closets Posts: 473 Group: Members Member #3,379 Joined: Feb 3, 2011	Im guessing you make somewhere around 300k then?



CarsAndGames	Feb 12 2012, 08:56 PM Post #44
Level 4 Posts: 456 Group: Members Member #4,712 Joined: Jan 28, 2012	Narrasand436 Feb 12 2012, 08:54 PM Im guessing you make somewhere around 300k then? ....what the hell kind of fantasy world do you live in? Lmao If I was 25 making 300k right now....opening a video game store would be the least of my worries, and I'd be planning my retirement in 10 years.



Jesusthe3dgame	Feb 12 2012, 11:03 PM Post #45
Level 4 Posts: 424 Group: Members Member #3,788 Joined: Apr 26, 2011	I sat back down and thought about it, and it's really not up to me to tell you to not do something. If I had everyone throw numbers in my face and tell me no, and I listened, I wouldn't be where I am now. All I am saying, is retail is very tough to get into- and it is very easy to call out what other people did wrong when you weren't in the trenches with them to see what they were doing.If you do end up doing it, remember it's all numbers and mathematics, and to find a niche. Good luck man!
	website: thisbethesite.com twitter: @ithinksocially


CarsAndGames	Feb 28 2012, 02:28 PM Post #46
Level 4 Posts: 456 Group: Members Member #4,712 Joined: Jan 28, 2012	Well, spoke to an investor and a business partner today. Seems things might start happening soon.



SCScanlan	Feb 28 2012, 05:37 PM Post #47
Level 5 Posts: 731 Group: Members Member #3,478 Joined: Feb 24, 2011	Wow, part time employee at a video game store getting benefits like that? Somebody is too nice of a boss.... get employees who live at home, go to school, and are on their parents benefits plans for evenings and have a good manager.



Diesel_Dan	Feb 28 2012, 05:50 PM Post #48
24-bit Posts: 188 Group: Members Member #4,665 Joined: Jan 15, 2012	appletsauce Feb 12 2012, 08:18 PM Why not just sell online and skip all that old country brick and mortar stuff? Bingo.
	Check out my blog--now with 100% more YouTubes! YouTube/Facebook/Twitter


Jesusthe3dgame	Feb 28 2012, 05:55 PM Post #49
Level 4 Posts: 424 Group: Members Member #3,788 Joined: Apr 26, 2011	Diesel_Dan Feb 28 2012, 05:50 PM appletsauce Feb 12 2012, 08:18 PM Why not just sell online and skip all that old country brick and mortar stuff? Bingo. Online...in terms of?
	website: thisbethesite.com twitter: @ithinksocially


CarsAndGames	Feb 28 2012, 06:51 PM Post #50
Level 4 Posts: 456 Group: Members Member #4,712 Joined: Jan 28, 2012	On the question of just making it a direct online store. Many of you don't realize there isn't ONE place in a 40 mile radius, that holds A.) Game tournaments. ( MAJOR MONEY TO BE HAD THERE) B.) Arcade Coin-Op recent machines that ALWAYS work and aren't $1.25 per play C.) A place for people to hold LAN's D.)GOOD Retro Gaming store



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