Thinking of opening a shop

[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 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.

[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.

[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.

[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.