|08-31-2009, 09:20 AM||#11|
Join Date: Aug 2009
Location: Outside D.C.
"hire an accountant early since you will most likely be in the red deep into your first 2 years with a venture of this type."
^^^ This, so much this. Businesses do not make money for the first few years. This is especially true if you borrow any capital to get started.
Make sure you have enough savings to live off of for the first few years, because even once you hit the black it won't be by much at first.
Also selling only items $50 and up isn't going to fly very well if you're a new business. People are hesitant to spend money at new stores they don't trust yet. You'll need good word of mouth if you want those kind of collectors to come to your store.
Also, those items don't sell as well in brick and mortar stores. You will at least need to have a catalog of the big ticket items online so people searching for them will have a reason to visit your store. With the advent of online shopping, people aren't as willing to drive all around hell's half acre just 'looking' for the big items. Sure, we might do it for the $7.99 figures, but that's because we know that they'll be cheaper if we dig them up ourselves.
Be prepared to work in the dealer's room at trade shows and conventions. The people at collector's conventions usually come with the intent of buying lots of stuff. In addition to having a captive market, you can also a) network and b) advertise for those who want to buy later. Oddly enough, the best scores I ever made on Joe comics were at anime conventions. Geeks tend to like lots of geeky things.
Don't be afraid to travel for these things. The most successful collectible dealers I know will go coast to coast. I only hit the Eastern Seaboard, but my earnings reflect the fact that I miss the big shows in California.
Last edited by bewareofninja; 08-31-2009 at 09:28 AM..
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