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Old 07-03-2012, 12:39 PM
D. Bergin's Avatar
D. Bergin D. Bergin is offline
Dave
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Join Date: Apr 2009
Location: CT
Posts: 6,858
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Everybody thinks buying and selling in their hobby of choice would be a great business plan, until they actually realize what goes into it.

I would sit down with an accountant and go over all the various expenses. Overhead, Tax situation, Health Insurance, Web Site costs, Merchant costs, Ebay and Paypal costs, Inventory costs, Paperwork you need to keep to keep track of everything concerning your business, collectors wondering why you can't pay 90% of retail for items that will sit in your store for 5+ years.

I have a small hobby business compared to most, and every year about tax time I have an epiphany about how much easier it was to put up with my overbearing, overworking bosses in the real world, where all I had to do was punch a clock and payroll would do all my taxes for me when I got paid on Thursday of every week.

Also, unless you have an insanely high end collection already, you can forget about keeping much for yourself. You'll generally find easily sellable inventory is not easily stumbled across in the real world, the best stuff will sell the quickest and you'll probably have to fall back on your collection at one point or another so you can pay the bills.
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