Yeah, i know, it's most magic players dream to work at, run/manage, or own a Card shop. Discounts, free merchandising, all that.
My question is How would one go about it? For probably the past 5 years or so, its been something i've thought about, and concidered. In the next 2 days, i'm moving to BC, and i know quite a few people there; one of which that also has a similar wish.
So, say in three years i were to attempt to open a shop, what would it take?
What plans and preperation if i wanted to Run say FNM/Release events?
In order to set up FNM, etc. It requires that you fill out an application, which includes various background info, plus how long you have been in operation. It also includes an address, obv. The one thing that may not be obv is that it includes pictures, inside and outside of your shop.
I wouldn't open up a shop. Simply put; internet buisnesses have the upper hand on shops. They can charge way less then you for their singles and boxes. You may have the option of running tournaments, but most magic players are casual, and play at home/someone elses home. Unless you rent/buy a wherehouse near your state capital or wherever it is a major event held by the DCI would be in your area, don't exspect huge amounts of people for FNM's.
With the prices of maintaining a building (wether owned or leased), you have to charge more then the internet guys. Plus you have to deal with needless paperwork from the DCI to hold their tournements and what not. Point being: Shops are closing down. Now would not be the time to open a buissness in cards in a brick and motor location.
If M:TG survives long enough for you to open your shop and hold events, good for you. However if they go belly up, your kind of stranded on holding tournaments for the next big game, be it either another Wizards product or a fad like Pok'emon.
I just wouldn't do it. I'd be selling cards myself online if I had the time and money for it. The problem with selling online is that you have to go to big events (even small ones like JSS's) and trade all the time, plus get ahead in every trade by $5-7. Which can be hard to do if the only people around are smart traders/sellers, Plus you need to do it with the store you're currently in's permission, which isn't likly to happen.
If you're going to do it, you shouldn't be solely a Magic shop. Having all of your livelihood tied to a single product is a crapshoot. What if they make another Masques block, which everyone hates and no one buys? You'd be sunk. Support other WOTC card games, but also branch out into other companies' games, like Yu-Gi-Oh, VS, etc. Pirates of the Spanish Main is popular in my area. You could also sell RPG books, since having RPG'ers in your store doesn't take up a lot of space.
You'll need to get all the business licensing, of course, before you begin. You'll also need enough inventory to attract people to your store. This means not only packs and new products, but also singles. Run-of-the-mill commons and uncommons can be sorted by set and put into binders or long white boxes. Average rares, along with good commons and uncommons, should get their own binders. And your marquee singles should be prominently displayed to attract the most attention.
Hold tournaments at least once a week, even if they're not sanctioned. If your players start clamoring for, say, a Vintage event, hold one. If they turn out in numbers to support it, then you can start shceduling one of those every so often. Encourage people to draft and play sealed deck, since you get to move product that way.
The problem you'll have is that people can often get singles and boxes for less online. If you can get a box for $76 USD shipped, why would you buy one at $90 from the game store? The answer, of course, is that the game store provides you a place to play, while zomgcheapcards.com does not. Not all your players will have this sense of loyalty. How you encourage it will ultimately be up to you.
The first thing you should do is remember not to completely rip off all your friends in BC so you don't have to move to another province just in order to play Magic again. Any intentions of paying back the $1000+ you owe to your former Toronto friends before you move away?
To keep on topic, a store devoted specifically to Magic can never succeed. Open a store as a hobby and don't hope to make much money with it. It's a good retirement plan perhaps.
also, magic is like drugs. if you sell, don't use or you will wind up broke.
Terrible advice. You need an insight on your game. Just don't crack packs, but that's logical advice anyway. However, I highly reccommend continuing playing, or people will rip you like there's no tomorrow. And yes, personal experience.
Anyway, go to City Hall (the one that you can't fight, you know) and ask them what you'll need to set up a business. In the US you need some inspections and a few permits, as well as the relevant tax forms. Then you'll need to go buy or rent space, and set up. You'll need to contact a Credit Union if you want to take credit cards, and you'll likely want a cash register or lockbox of some sort. Those are available from larger office supply stores. Then you'll need some containers for packs (oh sweet jesus you have to sell packs. Cash cows for draft right there). You can sell out of boxes, but I myself have used plastic displays from a local shop. Then you'll want counters, lighting, signage, ads...
Basically, this is expensive and you shouldn't go into it unless you know what you're doing and the area is saturated with players.
EDIT: The peeps advising you to get an online store are entirely wrong. They are two totally different markets. And believe me (I worked at a friend's store since it started) brick and mortar business can run, and run effectively. We rarely get more than 10 people for draft, and yet we can turn over $1000 in net profit (not gross profit, net profit) consistently every week. Another thing: sell food. It's a ridiculously good idea unless a cheaper alternative to the food you'd sell is right next door.
While you're at it, make it a LAN house too. Those things are cash cows. I had a store nearby that did it and while it didn't make much profit on Magic alone (I think, I could be wrong though), the LAN was always in use. Computers are too expensive? If you advertise your store in your area, you will pay them really quickly.
This is really hit-and-miss. They only work in certain areas, and when they work, they can make thousands a day. When they don't you can lose $40,000 on capital investments alone. You can't start one of these businesses with 2 PCs. You need 4-8, and you need to offer an experience that people can't get at home (as in, top-end machines). You also need commercial licenses for the games you use, unless you want to get in legal trouble. Some companies will give these out for free if you call. Some won't.
Private Mod Note
():
Rollback Post to RevisionRollBack
...
I have no extendo-sig. Sorry, I'm just not vain enough to think someone will click on it.
If you're going to do it, you shouldn't be solely a Magic shop. Having all of your livelihood tied to a single product is a crapshoot. What if they make another Masques block, which everyone hates and no one buys? You'd be sunk. Support other WOTC card games, but also branch out into other companies' games, like Yu-Gi-Oh, VS, etc. Pirates of the Spanish Main is popular in my area. You could also sell RPG books, since having RPG'ers in your store doesn't take up a lot of space.
That is probably the best advice here so far. Focusing on one TCG alone would not be the best idea. Broaden your scope a lot and you will give yourself more ways to make more $$$.
The places that hold weekly tournaments in my area started as Comic Book shops 20 years ago and followed the fads of what was hot. They started selling MTG and the other TCG as they came out but kept the customer base from the comics to keep the cash flowing while they broadened.
Anime DVD's and Magna
The top 3-5 TCG's
Possibly Sports cards (only if you can keep knowledgable on the values)
D&D games (maybe)
Comics/Graphic Novels (Only the top 10 or so titles per Marvel and DC to start with)
All are a good starting point. One thing to seriously consider is a Business plan. Even if you do not need the financing from a Venture Capitalist, Bank or lending agency writing out your structure, plans, and goals is always the best way to start a business. It will force you to do some research into various aspects of your business model that you had not considered and could sink you. Remember 50% of all small business fail in the first year.
My question is How would one go about it? For probably the past 5 years or so, its been something i've thought about, and concidered. In the next 2 days, i'm moving to BC, and i know quite a few people there; one of which that also has a similar wish.
So, say in three years i were to attempt to open a shop, what would it take?
What plans and preperation if i wanted to Run say FNM/Release events?
Thankee
also, magic is like drugs. if you sell, don't use or you will wind up broke.
With the prices of maintaining a building (wether owned or leased), you have to charge more then the internet guys. Plus you have to deal with needless paperwork from the DCI to hold their tournements and what not. Point being: Shops are closing down. Now would not be the time to open a buissness in cards in a brick and motor location.
If M:TG survives long enough for you to open your shop and hold events, good for you. However if they go belly up, your kind of stranded on holding tournaments for the next big game, be it either another Wizards product or a fad like Pok'emon.
I just wouldn't do it. I'd be selling cards myself online if I had the time and money for it. The problem with selling online is that you have to go to big events (even small ones like JSS's) and trade all the time, plus get ahead in every trade by $5-7. Which can be hard to do if the only people around are smart traders/sellers, Plus you need to do it with the store you're currently in's permission, which isn't likly to happen.
Visit: Cabalwannabe's Art page right here on MTGS!
Cabalwannabe's Cards!
Control Lover Generation 1 if you see this in someones sig copy it and take the generation number plus 1 to show your generation!
Cabalwannabe's Stories
So'for of the Vedalken
Vansen, Dreamer of Dreams
Clone of Joan
Aeriedle's Mission
You'll need to get all the business licensing, of course, before you begin. You'll also need enough inventory to attract people to your store. This means not only packs and new products, but also singles. Run-of-the-mill commons and uncommons can be sorted by set and put into binders or long white boxes. Average rares, along with good commons and uncommons, should get their own binders. And your marquee singles should be prominently displayed to attract the most attention.
Hold tournaments at least once a week, even if they're not sanctioned. If your players start clamoring for, say, a Vintage event, hold one. If they turn out in numbers to support it, then you can start shceduling one of those every so often. Encourage people to draft and play sealed deck, since you get to move product that way.
The problem you'll have is that people can often get singles and boxes for less online. If you can get a box for $76 USD shipped, why would you buy one at $90 from the game store? The answer, of course, is that the game store provides you a place to play, while zomgcheapcards.com does not. Not all your players will have this sense of loyalty. How you encourage it will ultimately be up to you.
My Eternal Cube on CubeTutor| |My Reject Rare Cube on CubeTutor| |My Peasant Cube on CubeTutor
I used to write for MTGS, including Cranial Insertion and cube articles. Good on you if you can find those after the upgrade.
To keep on topic, a store devoted specifically to Magic can never succeed. Open a store as a hobby and don't hope to make much money with it. It's a good retirement plan perhaps.
3 Nether Shadow BETA
2 Plateau
2 Bayou
HAVES:
http://forums.mtgsalvation.com/showthread.php?t=71454
Power does not corrupt, power attracts those that are inherently corruptible.
The powerful prognosticative powers of Leonginus - a "force" indeed!!
Terrible advice. You need an insight on your game. Just don't crack packs, but that's logical advice anyway. However, I highly reccommend continuing playing, or people will rip you like there's no tomorrow. And yes, personal experience.
Anyway, go to City Hall (the one that you can't fight, you know) and ask them what you'll need to set up a business. In the US you need some inspections and a few permits, as well as the relevant tax forms. Then you'll need to go buy or rent space, and set up. You'll need to contact a Credit Union if you want to take credit cards, and you'll likely want a cash register or lockbox of some sort. Those are available from larger office supply stores. Then you'll need some containers for packs (oh sweet jesus you have to sell packs. Cash cows for draft right there). You can sell out of boxes, but I myself have used plastic displays from a local shop. Then you'll want counters, lighting, signage, ads...
Basically, this is expensive and you shouldn't go into it unless you know what you're doing and the area is saturated with players.
EDIT: The peeps advising you to get an online store are entirely wrong. They are two totally different markets. And believe me (I worked at a friend's store since it started) brick and mortar business can run, and run effectively. We rarely get more than 10 people for draft, and yet we can turn over $1000 in net profit (not gross profit, net profit) consistently every week. Another thing: sell food. It's a ridiculously good idea unless a cheaper alternative to the food you'd sell is right next door.
I have no extendo-sig. Sorry, I'm just not vain enough to think someone will click on it.
This is really hit-and-miss. They only work in certain areas, and when they work, they can make thousands a day. When they don't you can lose $40,000 on capital investments alone. You can't start one of these businesses with 2 PCs. You need 4-8, and you need to offer an experience that people can't get at home (as in, top-end machines). You also need commercial licenses for the games you use, unless you want to get in legal trouble. Some companies will give these out for free if you call. Some won't.
I have no extendo-sig. Sorry, I'm just not vain enough to think someone will click on it.
That is probably the best advice here so far. Focusing on one TCG alone would not be the best idea. Broaden your scope a lot and you will give yourself more ways to make more $$$.
The places that hold weekly tournaments in my area started as Comic Book shops 20 years ago and followed the fads of what was hot. They started selling MTG and the other TCG as they came out but kept the customer base from the comics to keep the cash flowing while they broadened.
Anime DVD's and Magna
The top 3-5 TCG's
Possibly Sports cards (only if you can keep knowledgable on the values)
D&D games (maybe)
Comics/Graphic Novels (Only the top 10 or so titles per Marvel and DC to start with)
All are a good starting point. One thing to seriously consider is a Business plan. Even if you do not need the financing from a Venture Capitalist, Bank or lending agency writing out your structure, plans, and goals is always the best way to start a business. It will force you to do some research into various aspects of your business model that you had not considered and could sink you. Remember 50% of all small business fail in the first year.
Good luck to you.