Thinking of opening a shop

[abothebear]

I’m thinking about opening a card store? What would the ideal card store look like (ideal for both the shop and the customers) What is necessary? What should be avoided? How would one best incorporate vintage and pre-war elements? There was a good store where I used to live and I think I picked up some good ideas from watching him be successful even during leaner years. But vintage and earlier was not something that was part of what he did. His vintage case had cards all priced at Beckett prices with a sign that said ‘make an offer.” The other stores I’ve been to in recent years have been the same or worse.

The reason I’m thinking of starting a shop are because there aren’t any in my immediate vicinity, i am trying to change careers, and because I may have an opportunity to buy the remaining stock from a guy who had a store a while back.

Or... talk me out of it.

Thanks,
George

[jcmtiger]

Not sure a store in this era would make it. With the internet, ebay, auction houses would be tough sell. I started. Collecting in the 70’s, the era of card shops & card shows. And Scd sports magazine. Also flea markets, antique stores. That is all gone now. I wouldn’t do it. Just my opinion. Joe. I miss them, but not there now.

[G1911]

The only chance of making it is to cater to the largest market segments, which is the invest-in-modern-rookies crowd. As I understand it, getting a significant quantity of product from Topps is exceptionally difficult unless one has been with them for years now, which will be the key to a baseball card shop moving enough product to turn a profit.

I wish an old-school card store was still viable, and I really miss them. But they are almost all gone because it doesn't make cents anymore. If you got money to blow and want to do it just for fun and don't need to turn a profit, that's different, but as a career? I would not.

[egri]

I also don’t think a new brick and mortar store would be a good idea. Is it an option to buy the stock from the guy who used to have a store and sell it online? Might be a way to scratch that itch without the high fixed costs (rent, utilities, security system, etc) that having a physical store entails. And you’d already have connections to potential customers on the BST here.

[Fballguy]

There's a reason all the brick and mortar stores went away and that reason has only gotten more pronounced. If you want to open a store, I'd do it on ebay.

[abothebear]

Good to know about the difficulty in getting product from Topps. That is how the store I mentioned makes most of its money (combined with eBay sales from stuff he gets from opening boxes himself or from purchases from customers). That would a how I figured I’d make the rent, but if I couldn’t get cases from Topps I don’t suppose that would work.

I understand the vintage stuff wouldn’t make any money, or was just curious of better ways of making it at least a part of the life blood of a store.

The shop I keep mentioning had a great weekly consignment board system that kept people coming in twice a week at least, and kept the shop full of new and interesting affordable inventory. If there is an itch that needs scratching, I suppose that is it. I loved that consignment board and how it makes the store alive.

[drcy]

I can't see how a brick and mortar card shop is viable.

[swarmee]

Yes, one of the biggest complaints I have read from shop owners is that it's almost impossible to get new hobby cases from distributors. You can't just order the cases that will be big sellers; you have to buy lousy products just to have a chance at the normal stuff that sells. And even if you request 2 cases of a product, Topps or the distributor might cut your allocation down to 2 boxes and you have no recourse. With how box prices have been climbing sky high over MSRP, demand for cases is up, especially with all the people who have started Group Breaking online. They're willing to pay your distributor 30%-50% more for the same unopened case, because they can spread the costs over hundreds of buyers who are clamoring to pay 3x retail for the same box you're trying to buy and resell at a small margin.

You can do it, but not likely as a shop that caters to vintage collectors. You may want to branch out into Magic, Pokemon, Funko Pop toys, etc. You'll need table space for those guys to play their games or trade, since it's almost impossible to keep enough stock of the right cards to sell directly to them.

How much money are you willing to have wrapped up in inventory? How would you get a business loan? Ask yourself a lot of questions. You might want to start out having a sports card booth in an antique mall in your area to judge the level of interest. One of the big pros to doing that (or having a card shop) is that you have the best chance of someone telling you about their 90s basketball insert collection, or vintage collection they've been lugging with them through all their moves. The old adage says "you make money when you buy."

[Casey2296]

Originally Posted by abothebear

The shop I keep mentioning had a great weekly consignment board system that kept people coming in twice a week at least, and kept the shop full of new and interesting affordable inventory. If there is an itch that needs scratching, I suppose that is it. I loved that consignment board and how it makes the store alive.

Very astute of you to have identified your motivation on why you want to open a shop before diving in. Action & Camaraderie. Those two things along with the lure of self-employment are why a lot of people open businesses, some succeed, a lot fail. For me, there is no greater feeling than taking an idea and building it into a profitable business but, it's always a grind, filled with self doubt, long hours, and expensive lessons. Ask your guy who has all the inventory why his business failed. Are you willing to turn the key in the door every morning knowing you have to make $500 that day and if you don't you have to make $1000 tomorrow? It will be 100% your responsibility to ensure there is more income than outgo. The government, the power company, your distributors, your employees, etc, don't care if you're successful, they just want their money every month. And you better have it or the doors won't be open very long. You'll be amazed how fast your burn rate is. Are you willing to mortgage your house for start up costs and possibly lose it all? How will it affect your family if you do lose it?

Action & Camaraderie. Maybe think about it a different way. Can you take the start up costs, say 150-200k and use that money or a portion of it to fulfill that need within the hobby/business you're passionate about without opening a brick and mortar? Weekly meet-ups, online community, network building, etc. take some time and think creatively outside the box on how to fulfill that need without risking the farm. It doesn't cost much to come up with a lot of ideas and stress test them. If that's not enough you can always spend/risk more money to open a brick and mortar.

Either way I wish you the best of luck and great success!

[abothebear]

These are helpful comments, y'all. Thank you.

[Directly]

Three factors- Location, Overhead, Advertising.

First--Try attending some shows or setting up some shows, You might even try a flea market booth, pay maybe 100.00 month. Advantage you have other venders selling all kinds of other items which attracts all kinds of shoppers --instant traffic! I owed a shop and the building in a busy location for twenty years but wasn't needed for any income. Yes we did great before eBay, especially during the beanie baby graze! Was direct with Topps, Upper Deck, Fleer and Wizards of the Coast. I've heard product is difficult to get in any volume to make any money so you would have to diversity, one advantage of a location sellers bringing in items to sell--
A 52 Topps mantle, 52 Topps and 48 leaf Robinson, several Cobbs, Jordan RC came through in our door plus too many items to list --but again was before the internet--

Having a shop for income or fun are two questions you need to ask yourself.--you can always try a shop, get a retail tax licenses, sign a year lease if required at the most, mark out any extra clauses in the contract that requires paying any thing extra, Property taxes, Equipment repairs, etc.-so be diligent with your homework and the decision is yours alone--good luck!

[rats60]

The only way I would open a store is if I could buy an existing store with direct accounts for Topps, Panini and Upper Deck. The distributors really aren't distributors, they are dealers who are looking to maximize their profits and that leaves very little for a store with high overhead.

When I opened stores in 1984 and 1991, it was easy to get those direct accounts. Today it is not and a big reason why I no longer have a store.

[markf31]

I think this is an idea that many on this board may have entertained at least fleetingly in one way or another over their time in the hobby, I know I have.

A little research and leg work on starting your own business can inform you relating to start up cost, taxes, overhead costs as there are a ton of good books out there and of course a simple Google search on starting up your own business.

As for the card shop itself....can a brick and mortar card shop succeed, sure it can and there are a couple in the Pittsburgh area around me that are still surviving. I do believe one key point as you and a couple other posts also mentioned is that you probably need a hook beyond just selling cards to get foot traffic in the door.

These hooks could include:
Your consignment board
One shop near me (prior to codvid) had at least monthly in person autograph signings by current and retired local Pittsburgh athletes
Offering live in-person box breaks at the store
Sell the books of local sport authors and have book signings and open q/a sessions with the author

Good luck in your research and your endeavor.

[rjackson44]

go on you tube and you will get an idea ,,staay away """

[ullmandds]

The only way I'd even consider this...personally...wold be to buy a building where the leased space would pay for the rent for my proposed space...to open a card store.

Or maybe a combination coffee shop/card store??

[vintagetoppsguy]

Originally Posted by abothebear

These are helpful comments, y'all. Thank you.

No, they're not helpful. You're getting bad information from people that have no business sense whatsoever. I don't understand why people feel the need to comment in a thread just to give an opinion of something they know nothing about. I'm not trying to sound rude, but how many of these people have actually ever even owned a business...any business? I have.

I know a guy that had a shop in a small town south of Houston (Manvel, Texas) that has a population of 10,179 people. His last year in business there he did $20K in sales. Frustrated, he moved his shop to another town just west of Houston (Katy, TX) that has a population of 20,202 (so right at double where he previously was) and now he does in the mid 6 figure range in sales. He's doing amazing! The name of the shop is 3rd Coast Cards.

The biggest factor to consider is location. He opened his store right across the street from the local high school and he feeds off that traffic (nearly 3000 students)...again, to the tune of the mid 6 figure range.

Don't listen to these people. It can be done...and done quite successfully.

If you want the guys name and number, PM me and I'll provide it to you and you can pick his brain for ideas. I can also give you names of other guys and shops in my area that have had brick in mortar stores for 25+ years - Howard Lau of Houston Sports Connection, Eddie Martinez of the Old Ballpark, etc. and aren't just surviving, they're thriving. If you're really serious about opening a store ask people that have had success doing it. And don't listen to people that once had a store, but no longer do. Let's be honest, unless they retired from the business, they failed. Right? Do you want opinions and ideas from people that failed? If I were going to start a business - any business - I wouldn't ask a public message board. I would find people that have had success doing it and I would mimic them.

[SD]

Shops that rent areas to trade/ battle are fairly successful in San Diego. My son participates in Magic, Pokémon and Yu-Gi-Oh. You pay $5 to play.
Post covid, this shop is packed. Literally no sports cards whatsoever and they have lines to get in.
https://tcsrockets.com/

My favorite local sports card shop that's been there since the early 90s has basically transformed into a modern era refractor show room. One section of overpriced vintage. Everything else is shiny and colorful. They do card pack openings where you pay for a card slot. You literally pay to blindly get a card out of an unopened pack. If its a 10 card pack, they will sell 10 slots starting at .50-$5 a slot depending on the pack. I can't hate them for reinventing themselves to the modern market but it's not for me. Nothing like spending a $1 to get a 2021 Topps Wade LeBlanc.


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[Jobu]

There are also a lot of brick and mortar stores that spend their down time putting their listings on Ebay, so this is not a one or the other decision. You have the extra fees to account for on Ebay sales, but if you name your seller account the same thing as your store and put all of the store info very clearly into each listing, you get a lot of free advertising and will get people contacting you directly and stopping in.

One other question is whether there are any card shows still going in the area. Might help you gauge local demand and be a good place to set up to spread the word if you do start a store.

Good luck whatever you choose!

[steve B]

Originally Posted by Jobu

There are also a lot of brick and mortar stores that spend their down time putting their listings on Ebay, so this is not a one or the other decision. You have the extra fees to account for on Ebay sales, but if you name your seller account the same thing as your store and put all of the store info very clearly into each listing, you get a lot of free advertising and will get people contacting you directly and stopping in.

One other question is whether there are any card shows still going in the area. Might help you gauge local demand and be a good place to set up to spread the word if you do start a store.

Good luck whatever you choose!

That's what the local place near me does, lots of online selling. Even before ebay was big. One guy mostly runs the shop, while the other does the online.

They also moved to a bigger place where the kids that play magic and pokemon etc can hang out and play.
They also sell some toys, snacks and new memorabilia, although I don't think the memorabilia is a big part of it. They did comics on the old place.

[Directly]

Vintagetoppsguy, sounds like you have a thriving shop, where is your shop located?

Please keep in mind---nothing matters in the long scheme of things but maybe retirement income--many don't plan to fail, they just fail to plan--so use your brain, not your heart!

If you have other income coming in a shop can be fun--

[buymycards]

I think it can be done. However, you will need a strong presence on eBay and COMC and these 2 items will probably account for a large portion of your sales.
You should have your own website and online store.

The store owners that I know have told me that the thing that keeps them in business is the high number of people coming in the store trying to sell their collections. You have an opportunity to come across some great items from walk in customers, and even buying junk year collections can be profitable if you can get them for a low price.

One thing that I see with card shops and antique stores is that their hours are posted on the door or on their website, yet when I go to the store it will be closed. Make sure you are open when you are supposed to be open, and plan on a lot of 12 hour days and 7 day work weeks.

Good luck. The best advice when I opened a store back in the 90's (not a card shop) was the formula for the amount of money that you will need to open up. The formula is : Figure out how much money you think you will need, then double that amount, and you still won't have enough.

[Huysmans]

Originally Posted by Directly

Vintagetoppsguy, sounds like you have a thriving shop, where is your shop located?

Please keep in mind---nothing matters in the long scheme of things but maybe retirement income--many don't plan to fail, they just fail to plan--so use your brain, not your heart!

If you have other income coming in a shop can be fun--

Did he claim to OWN a shop at any point in his post??
You're able to read and understand... correct?

[forceplay sport]

I know one thing is that helps greatly, besides Ebay sales and gaming nights. Bringing in local sports figures for signing events, brings in cash and gets more eyes on your store.

[vintagetoppsguy]

Originally Posted by Directly

Vintagetoppsguy, sounds like you have a thriving shop, where is your shop located?

I don't have a shop. I don't want a shop. I'm very happy in my current career.

Here's the point that I wanted the OP to take away. If you want to be successful in something, study what other successful people do in that same field. You don't ask people that have no experience.

Let me give you a good example. I was reading an article just this morning that said Ndamukong Suh wants to be an investor once he retires from football. So, what did he do? He shadowed Warren Buffett for several weeks in 2010 and looks at him as a mentor. He wanted to learn and he went to the best. He probably observed a lot and asked a lot of questions. He didn't go to Bernie Madoff for advice - a failed investor (and fraudster).

https://markets.businessinsider.com/...lessons-2021-7

If you were having marital problems and wanted solid advice, would you go to the guy that's been divorced three times or the one that's been married for 50 years?

Anyway, some will get my point, some won't. It is what it is.

[hcv123]

I also owned a business (food) for almost 30 years. It is a matter of planning carefully, executing your plan and having a plan B if plan A doesn't work!

1) The 3 most important decisions in opening a retail business - as David shared - location, location and location. I would get demographic information on the shop he offered as well as trying to track down other successful B&M stores and ask them as well. I know in the food business there were pretty specific demographic targets that we looked for. I'm not sure if that type of data is purchasable somewhere (it was for food), but that would be mission critical!! If the "right" clientele isn't within a certain radius of your shop, that would be a virtually insurmountable problem.
2) Read the book "E-Myth Revisited" by Michael Kaplan. It is about the business of business.
3) Go in with a plan, plan to work and work the plan. If you fail to plan, you plan to fail.
4) Create a pro forma operating income statement - include all the variable and fixed costs you can thnk of: Rent, property taxes, CAM (common area maintenance), Electric, Gas, Water, Liability and property insurance, marketing and advertising, costs of supplies, bags, if you are going to have employees (payroll and payroll taxes), etc. - When you are done listing everything you can think of with their approximate monthly amounts add 20% for anything you might have missed. Once you have that number - that is the amount of profit (NOT sales, but profit) you will have to make to breakeven - anything above that, then you start making $$. Then you can start calculating how much you need to do in sales to cover that nut and get to profitability. After all of that , then you can start thinking about your product mix and gross profit per item to get there. Be more cautious/pessimistic in your planning and estimating. If things turn out better than you planned, that's an "easy" problem compared to if they turn out worse.
5) Owning your own business can be a lot of fun (in addition to a lot of work). A good friend and fellow business owner jokes frequently - "yeah, it's great! You get to decide which 80 hours a week you are going to work!"
6) It is not a decision I would make quickly or lightly. Have a clear grasp on the undertaking and time and $$ investment. Do your due diligence, reach out to existing or former collectibles owners (around the country away from you) about their positive and negative experiences - let them know you are thinking about opening a shop near you.
7) If you choose to move forward decide what part of the plan, shows, Ebay, Facebook, Instagram, etc. will be.

Hope that helps and best of luck whatever you ultimately decide.

Howard

[Fballguy]

Originally Posted by vintagetoppsguy

I don't have a shop. I don't want a shop. I'm very happy in my current career.

Here's the point that I wanted the OP to take away. If you want to be successful in something, study what other successful people do in that same field. You don't ask people that have no experience.

Let me give you a good example. I was reading an article just this morning that said Ndamukong Suh wants to be an investor once he retires from football. So, what did he do? He shadowed Warren Buffett for several weeks in 2010 and looks at him as a mentor. He wanted to learn and he went to the best. He probably observed a lot and asked a lot of questions. He didn't go to Bernie Madoff for advice - a failed investor (and fraudster).

https://markets.businessinsider.com/...lessons-2021-7

If you were having marital problems and wanted solid advice, would you go to the guy that's been divorced three times or the one that's been married for 50 years?

Anyway, some will get my point, some won't. It is what it is.

Maybe he should open a card shop slash video store? You know he could rent video cassettes too and appeal to a wider audience. Just a thought...

[Directly]

Its all pretty simple really--Buy or rent a place, put a sign in the window and your in business.

[Jewish-collector]

Opening a sports card store is like buying a boat. The best day is the day you buy the store and the day you sell the store.

[packs]

Because one guy is doing sort of well doesn't mean that a card store is a good idea. All you need to do is look at how few are left to know what the future holds.

[vintagetoppsguy]

Originally Posted by Fballguy

Maybe he should open a card shop slash video store? You know he could rent video cassettes too and appeal to a wider audience. Just a thought...

Yeah, or maybe even like a Photohut / card store. People could drop of their 35mm or 110 film and browse cards while they're waiting on their pictures to be developed.

[vintagetoppsguy]

Originally Posted by packs

Because one guy is doing sort of well doesn't mean that a card store is a good idea. All you need to do is look at how few are left to know what the future holds.

The first sentence is true of any business though.

I can't speak for your area, but I don't think it's necessarily that there are so few left, but it's that there were so many back in the late 80s and early 90s that it makes it seem like there are so few left today. I'm 7 minutes (3.1 miles) from Houston's longest-standing card store. I'm within 15 minutes of others.

[Exhibitman]

Well, as I do a lot of commercial leasing work, I can say with some experience...DO NOT DO IT! You will have to sign your life away, financially speaking, when you sign a lease, get a loan to fund your build-out, etc. I've had multiple clients have to file for bankruptcy because they bit off more than they could chew when opening a business. Just remember this from Goodfellas (modified slightly to fit):

Now the guy's gotta come up with the rent-utilities-ISP-insurance money every month, no matter what.
Business bad? F*** you, pay me.
Oh, you had a fire? F*** you, pay me.
Place got hit by lightning, huh? F*** you, pay me.

[vintagetoppsguy]

Originally Posted by Exhibitman

Well, as I do a lot of commercial leasing work, I can say with some experience...DO NOT DO IT! You will have to sign your life away, financially speaking, when you sign a lease, get a loan to fund your build-out, etc. I've had multiple clients have to file for bankruptcy because they bit off more than they could chew when opening a business. Just remember this from Goodfellas (modified slightly to fit):

Now the guy's gotta come up with the rent-utilities-ISP-insurance money every month, no matter what.
Business bad? F*** you, pay me.
Oh, you had a fire? F*** you, pay me.
Place got hit by lightning, huh? F*** you, pay me.

There are no long-standing card shops in your area within a reasonable driving distance? Oh, say, like maybe Beverly Hills Baseball Cards? I've been there twice - once in 2001 and once again in 2002. They were there for many years before I ever visited and they're still in business today.

So question specifically for you. How can they do it and be very successful, but others can't? Do they have something that makes them special?

[JustinD]

Originally Posted by vintagetoppsguy

Quote:
Originally Posted by Fballguy View Post
Maybe he should open a card shop slash video store? You know he could rent video cassettes too and appeal to a wider audience. Just a thought...

Yeah, or maybe even like a Photohut / card store. People could drop of their 35mm or 110 film and browse cards while they're waiting on their pictures to be developed.

Waterbed sales?

[vintagetoppsguy]

Originally Posted by JustinD

Waterbed sales?

Fantastic idea, but not with a card store. Can you imagine if one of those leaked and the cards were exposed to water?

You have to be innovative. Do something no one else is doing right now. I'm thinking something more like encyclopedias or business machines - like typewriters and fax machines.

[bobbyw8469]

You can have all my crap. I am so sick of the hobby, you can have it all for pennies on the dollar.

[Howe’s Hunter]

The internet comes along and all the card shops go out of business.

The internet comes along and all the porn shops along the interstate are still in business.

[Exhibitman]

Originally Posted by Howe’s Hunter

The internet comes along and all the card shops go out of business.

The internet comes along and all the porn shops along the interstate are still in business.

Don't want the wife stumbling across the browser history. Allegedly.

[jiw98]

The area that I live in currently has 3 BM cards shops. Two of the shops do the majority of their business with items other than sports cards. (toys, non-sports cards, sports equipment, etc.) The other one is sports cards only. All 3 have been in business for 25+ years and seem to be successful.
This is in a county with approx. 170,000 people. If I were to go to the neighboring counties I can think at least 5 more BM cards shops. Most of them have also been in business for several years.

[drcy]

A simple question to ask is: As opposed to selling online and having the world as your audience, are there enough card collectors in your area to support a card business?

I live in a big neighborhood in a big city. I'm sure there are not enough sports card collectors to support a business. Other-sports? I don't know.

At the least, I would sell online to see how that works. If you're really good at that, then do your homework and think a brick & mortar shop is viable in addition, maybe.

But there's a reason that card shops have gone out of business all over. Will with new card prices on the rise, will things change? (shrugs shoulders)

That someone had romantic dreams and really wants to do it, doesn't make a good business plan.

[vintagetoppsguy]

Originally Posted by jiw98

The area that I live in currently has 3 BM cards shops. Two of the shops do the majority of their business with items other than sports cards. (toys, non-sports cards, sports equipment, etc.) The other one is sports cards only. All 3 have been in business for 25+ years and seem to be successful.
This is in a county with approx. 170,000 people. If I were to go to the neighboring counties I can think at least 5 more BM cards shops. Most of them have also been in business for several years.

+1

I believe the advent of the internet had zero to do with card shop closures. Their downfall was oversaturation of stores and mass production of cards. In the late 80s and early 90s, there was a card shop on every block. Everyone thought cards were going to be their retirement fund. Come on, if I can admit it, you can too. Anyway, the smart shop owners find a way to survive (games, gaming cards, toys, memorabilia, etc.), but most perished. Of all the shops I currently frequent, not one is cards only.

[RL]

Would be nice to open a card shop.

However, all the start up costs will be a lot of money.

[conor912]

This guy just opened his own shop and did/does a great job of chronicling what went/goes into it. The videos go back a ways, and he's busting his ass constantly. Now he pays people to run the shop while he travels the country attending shows. It looks exhausting.

https://www.youtube.com/c/cardcollector2/videos

[packs]

If you've been in the business for a long time and you have long-held distributor contacts that enable you to get a constant stream of modern cases at wholesale prices, MAYBE you'd have a decent chance. But my question would always be: why would you have a brick and mortar when you can do this all online?

The argument may be that people like looking at cards, but if the market is modern lottery cards then the in person aspect doesn't translate the same way. Though I do agree it's nice to walk away with what you bought.

However, if you're just dreaming this up and you have no manufacturer contacts and no wholesale distributor contacts, you are likely never going to acquire enough product to have a constant enough inventory at a price point that enables you to make money.

At shows modern wax dealers refuse to come down even a dollar because any variation in their listed price eats into profits.

[egri]

Originally Posted by Exhibitman

Don't want the wife stumbling across the browser history. Allegedly.

Couldn't she look at credit card statements to the same effect?

[todeen]

Originally Posted by Howe’s Hunter

The internet comes along and all the card shops go out of business.

The internet comes along and all the porn shops along the interstate are still in business.

Originally Posted by Exhibitman

Don't want the wife stumbling across the browser history. Allegedly.

Lol reminds me of another thread on Net54 with the comment that "B****** be tech savvy!"

Hahahahahaha I laughed at that comment all day. You two cracked me up again. Nice work gentlemen.

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[steve B]

Originally Posted by JustinD

Waterbed sales?

One of the early plastic page manufacturers did it as a sideline to their waterbed manufacturing business. Rotmans dropped most of that years ago, and is still around as a furniture store.

[steve B]

One thing that the stamp guy whose shop I hung out at said was

You don't have a shop to sell, you have a shop to buy.

He got many good deals and even more that were a bit profitable from people who brought stuff to the shop to sell.

And he worked a lot of angles on stuff that was usually not wanted by other dealers.
Like discount postage - Lots of people saved full sheets as an "investment" but like junkwax cards, only worse. Nearly all US stamps made since the 1930's have minimal value. People would bring him stacks of sheets a relative had "collected" and he'd do a quick look through and some even quicker rough math. 100 sheets of 50, mostly 8 cent... $400 face value he'd tell them to use it as postage, but people couldn't be bothered. So he'd ask what they wanted. Nobody ever did the math, so most stacks like that were around $100 And he would buy anything similar that was under around 200.
The sheets were sold bulk to a convent near his house that needed lots of postage, at usually 20% less than face value.

He made most of his money during the hour and a half setup before a show. All dealer to dealer.

[egri]

Originally Posted by steve B

Like discount postage - Lots of people saved full sheets as an "investment" but like junkwax cards, only worse. Nearly all US stamps made since the 1930's have minimal value. People would bring him stacks of sheets a relative had "collected" and he'd do a quick look through and some even quicker rough math. 100 sheets of 50, mostly 8 cent... $400 face value he'd tell them to use it as postage, but people couldn't be bothered. So he'd ask what they wanted. Nobody ever did the math, so most stacks like that were around $100 And he would buy anything similar that was under around 200.
The sheets were sold bulk to a convent near his house that needed lots of postage, at usually 20% less than face value.

Something similar happened to Warren Buffett when he was just starting out, right after he left Graham-Newman; him and his partners bought up several thousand dollars of a blue eagle stamp that the post office was about to discontinue, only to belatedly realize they weren’t worth more than face value. They used to stockpile to mail out annual reports. They bought the stamps in the mid 1950s; the stockpile wasn’t exhausted until the early 1970s.

[Leon]

Nice analysis....

Originally Posted by swarmee

Yes, one of the biggest complaints I have read from shop owners is that it's almost impossible to get new hobby cases from distributors. You can't just order the cases that will be big sellers; you have to buy lousy products just to have a chance at the normal stuff that sells. And even if you request 2 cases of a product, Topps or the distributor might cut your allocation down to 2 boxes and you have no recourse. With how box prices have been climbing sky high over MSRP, demand for cases is up, especially with all the people who have started Group Breaking online. They're willing to pay your distributor 30%-50% more for the same unopened case, because they can spread the costs over hundreds of buyers who are clamoring to pay 3x retail for the same box you're trying to buy and resell at a small margin.

You can do it, but not likely as a shop that caters to vintage collectors. You may want to branch out into Magic, Pokemon, Funko Pop toys, etc. You'll need table space for those guys to play their games or trade, since it's almost impossible to keep enough stock of the right cards to sell directly to them.

How much money are you willing to have wrapped up in inventory? How would you get a business loan? Ask yourself a lot of questions. You might want to start out having a sports card booth in an antique mall in your area to judge the level of interest. One of the big pros to doing that (or having a card shop) is that you have the best chance of someone telling you about their 90s basketball insert collection, or vintage collection they've been lugging with them through all their moves. The old adage says "you make money when you buy."