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Starting a LCS: Am I crazy - someone, please, set me straight!

Started by Dr Carl,

61 posts in this topic

gaz973

gaz973

Posted
Posted
I'd pass. Think about it; the store is currently making $800 without paying the two principal people or rent. Once rent kicks in, what's left? What's the plan to increase profits to the point where everyone can even make minimum wage? You're a long way off from even sustainability, and already have entrenched competition.

 

This.

 

Pass.

These are wise words, you're not onto a financial winner here. To even stand a chance of making it even vaguely financially worthwhile you need to think about how you could take away customers from the existing shops.

 

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DailySuperpower

DailySuperpower

Posted
Posted

What if it was like a comics community center with a nice reading area, and maybe weekly classes on various topics, like writing or drawing comics, history, basic care and storage? You'd need to line up adequate instructors, maybe partner up with a local art school or gallery, but with some work it could be interesting.

 

2c

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thehumantorch

thehumantorch

Posted
Posted
I'd pass. Think about it; the store is currently making $800 without paying the two principal people or rent. Once rent kicks in, what's left? What's the plan to increase profits to the point where everyone can even make minimum wage? You're a long way off from even sustainability, and already have entrenched competition.

 

This.

 

Pass.

These are wise words, you're not onto a financial winner here. To even stand a chance of making it even vaguely financially worthwhile you need to think about how you could take away customers from the existing shops.

 

I wouldn't do it unless you can see legit ways to increase the business.

--Can you identify products that other stores don't carry like statues or Magic

the Gathering or Pogs or whatever?

--Do you think you could run a store better than the local competition because

you probably won't survive unless you steal some of their customers.

--Can you identify ways to cut costs? Just kidding.

 

Send mrBedrock a PM, he's been in the business a long time and he is very

successful

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Mephisto

Mephisto

Posted
Posted
I know of plenty of areas with that population that don't even have one comic shop, much less three! I say, pass.

 

When I was in a small college town a small comic shop opened. It only lasted a few months. What's the point of paying full price on a TPB when you can go on Amazon and buy it discounted plus get free shipping. Most college kids are cheap and there just weren't enough local's to support. This was in 2006. Brick and mortar over head just isn't really worth it with 90% of these shops anymore. Rent, electric...etc.

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underthebigw

underthebigw

Posted
Posted

No growth potential, small town, lots of competition, no current profit, forget free rent--can they even get a lease, is their Diamond account current?

 

Unless you want to blow your money to have fun, or are hoping a dream collection walks in your front door (even if it exists locally, your chances of being the store the seller chooses are only 1 in 3), or unless you think you have the capital to invest to blow away the other retailers.....

 

 

RUN.

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Kevin76

Kevin76

Posted
Posted

Only do it if your passionate about it, Since there are other stores in the area, you'll need to think outside of the box...Why should customers from other stores, come and buy from you? What do you have to offer that the other stores don't? Is the place clean? The lighting excellent? How does the place smell? Is it a "man cave? Do the 2 guys who own the store actually have a personality? How do they look and do they take the store seriously?

 

You need to find this stuff out beforehand.

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Gatchaman

Gatchaman

Posted
Posted

If I can add my 2 cents. I owned a comic store in 1999 and what helped me pay the rent was the fact that I sold more than just comic books. I sold collectible toys (new and used) and superhero videos. I wish I would have carried Magic Cards.

 

I did what a lot of stores are doing today in having more than one egg in their baskets. On top of their comic selling stores are having events almost every night of the week.

 

I also owned a gaming store for a year before my disability forced me to stop and I was doing $2,000+ a month in a 600 sqft store with just gaming.

 

Many stores here carry mostly new stock comics and hardly have a selection of back issues. It's so bad that I get better back issue selection at Half Priced Books.

I sold a ton of back issues at my comic shop.

 

Many stores here don't have all of these. Monthly books, back stock books, collectible toys, games (MTG, Yugioh, Pokemon, miniature gaming, etc). Added together you can make some good money as you cater to different crowds of people.

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Dr Carl

Dr Carl

Posted
  • Author
Posted

Thanks to everyone who replied. I am very grateful for all the feedback.

 

I've had a chance to do a read through of all the posts, and feel very appreciative for everyone's input.

 

I'll go over it again tomorrow in more detail, taking some notes, and possibly posting some of my conclusions.

 

Again, many thanks... :applause:

 

Oh, and thanks for the free drinks... lol

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ImageMask

ImageMask

Posted
Posted
Thanks to everyone who replied. I am very grateful for all the feedback.

 

I've had a chance to do a read through of all the posts, and feel very appreciative for everyone's input.

 

I'll go over it again tomorrow in more detail, taking some notes, and possibly posting some of my conclusions.

 

Again, many thanks... :applause:

 

Oh, and thanks for the free drinks... lol

 

You a true Dr.? I think not. No bank in the world would back a MD. for a funny book shop. No MD would even consider it. You go over It all you want. Then ask the bank. But then again you posted this question on a comic board..................a doc asking for money investments on a comic book forum. you the dentist? 30 years ago?

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shadroch

shadroch

Posted
Posted
Thanks to everyone who replied. I am very grateful for all the feedback.

 

I've had a chance to do a read through of all the posts, and feel very appreciative for everyone's input.

 

I'll go over it again tomorrow in more detail, taking some notes, and possibly posting some of my conclusions.

 

Again, many thanks... :applause:

 

Oh, and thanks for the free drinks... lol

 

You a true Dr.? I think not. No bank in the world would back a MD. for a funny book shop. No MD would even consider it. You go over It all you want. Then ask the bank. But then again you posted this question on a comic board..................a doc asking for money investments on a comic book forum. you the dentist? 30 years ago?

 

 

Where does he say he is asking a bank for a loan? He is a real Doctor. I just completed a deal with him for an Amazing Fantasy 15 and did a background check on him before sending a stranger a check for it.

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david20009

david20009

Posted
Posted

To make money no. As a hobby where you don't mind losing a few bucks why not. I've invested in a few businesses over the years knowing the money was gone when I wrote the check but did it for fun oo because I thought I might learn something through the experience.

 

On the other hand I am working on a business plan with a few guys right now where we would leave our day jobs so we need to be fairly confident it would be successful before committing ( and that we can raise the 10 to 20 million in first tranche start up capital that would be necessary just to get the business off the ground and 50 million second tranche needed in 12 to 18 months if successful)

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ImageMask

ImageMask

Posted
Posted
Thanks to everyone who replied. I am very grateful for all the feedback.

 

I've had a chance to do a read through of all the posts, and feel very appreciative for everyone's input.

 

I'll go over it again tomorrow in more detail, taking some notes, and possibly posting some of my conclusions.

 

Again, many thanks... :applause:

 

Oh, and thanks for the free drinks... lol

 

You a true Dr.? I think not. No bank in the world would back a MD. for a funny book shop. No MD would even consider it. You go over It all you want. Then ask the bank. But then again you posted this question on a comic board..................a doc asking for money investments on a comic book forum. you the dentist? 30 years ago?

 

 

Where does he say he is asking a bank for a loan? He is a real Doctor. I just completed a deal with him for an Amazing Fantasy 15 and did a background check on him before sending a stranger a check for it.

 

 

Oh. you dont need a bank loan to play in big boy business. But if you rolling that kind of cash i woundn 't ask advice n a comic book forum.. especially the comic book forum that set the standard. glad you did a deal for a 15. wanna play for real books?

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Green

Green

Posted
Posted
To make money no. As a hobby where you don't mind losing a few bucks why not. I've invested in a few businesses over the years knowing the money was gone when I wrote the check but did it for fun oo because I thought I might learn something through the experience.

 

On the other hand I am working on a business plan with a few guys right now where we would leave our day jobs so we need to be fairly confident it would be successful before committing ( and that we can raise the 10 to 20 million in first tranche start up capital that would be necessary just to get the business off the ground and 50 million second tranche needed in 12 to 18 months if successful)

Can i start time payments now on your hulk 1? lol
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david20009

david20009

Posted
Posted
To make money no. As a hobby where you don't mind losing a few bucks why not. I've invested in a few businesses over the years knowing the money was gone when I wrote the check but did it for fun oo because I thought I might learn something through the experience.

 

On the other hand I am working on a business plan with a few guys right now where we would leave our day jobs so we need to be fairly confident it would be successful before committing ( and that we can raise the 10 to 20 million in first tranche start up capital that would be necessary just to get the business off the ground and 50 million second tranche needed in 12 to 18 months if successful)

Can i start time payments now on your hulk 1? lol

 

Comics are a hobby for me so whether I leave my day job to join a start up or stay where I am now it will not make any difference in my collecting decisions. (also I sold the Hulk 1 to a buddy a couple months ago so you are a little late, I just have not updated my sig line).

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fastballspecial

fastballspecial

Posted
Posted

If you dont have kids and a mortgage and you are financially stable there is nothing wrong with trying it. You wont be a huge ton of cash the first few months.

 

If you are staking a couple of 19 years olds that is very risky and will probably fail they are too young. They will find something else to do.

 

If you really want some experience at it just buy some collections and set up a Flea Market to get a better idea. I did that in college and financed my last year in school that way.

 

Id admire someone who takes that risk. If you can diversify and establish a strong internet pressence via ebay then with your own site you can survive and even flourish. Its just alot of work.

 

 

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Green

Green

Posted
Posted
To make money no. As a hobby where you don't mind losing a few bucks why not. I've invested in a few businesses over the years knowing the money was gone when I wrote the check but did it for fun oo because I thought I might learn something through the experience.

 

On the other hand I am working on a business plan with a few guys right now where we would leave our day jobs so we need to be fairly confident it would be successful before committing ( and that we can raise the 10 to 20 million in first tranche start up capital that would be necessary just to get the business off the ground and 50 million second tranche needed in 12 to 18 months if successful)

Can i start time payments now on your hulk 1? lol

 

Comics are a hobby for me so whether I leave my day job to join a start up or stay where I am now it will not make any difference in my collecting decisions. (also I sold the Hulk 1 to a buddy a couple months ago so you are a little late, I just have not updated my sig line).

:cry:
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MrBedrock

MrBedrock

Posted
Posted
To make money no.

Every time I see someone say that you can't make money opening a comic shop I cringe and bite my tongue. But so many folks here have said it that I've ground my teeth down.

It is very easy to make money running a comic shop. You just have to be smart about it.

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