I looked into opening a comics and gaming store last year after I was laid off from my full-time corporate gig. I was under no illusions about the amount of capital it would take to open a nice store but I was really surprised to find out how hard it is to make a living from owning a store. In fact, what I found out -- from talking to about a half dozen comic shop owners -- is that many successful comic shops (whether they do gaming or not) are owned by people who already have money (a trust fund, a sizable inheritance, they struck it rich in their previous career, or are backed by a rich uncle) and/or alternate income streams (income-generating real estate investments, for example) and generally do not need to worry about their store generating enough money for them to make a reasonable income. The few exceptions I found are people who opened shops 20 or more years ago and have been able to buy up tons of inventory for cheap over the years and who have developed a long-time established customer base. But for newer stores, I think most owners are very likely just scraping by and probably making less than minimum wage (when you consider any income they are making divided by the amount of hours they work every week). That is, if they aren't already hemorrhaging money. While I was confident I had enough money to open a store I still needed to make a reasonable income and it became clear to me that probably wasn't going to happen. Of course I'm not saying this is the case for everybody. I expect there are some newer stores out there that do well enough that the owners can have a staff and still generate a reasonable livable income for themselves, but I expect that is pretty rare to find. As much as I dreamed of having my own store, the realities I discovered made it impossible for me to pursue that dream. I still hope it can happen some day, but I think I'd have to move to an area of the country that isn't already served by a good store (or to an area that is underserved) and where the cost of living is pretty low, and maybe it could work. One piece of advice I received, and I think it's a good one, is to try and buy an existing store rather than opening a new one from scratch. You might be surprised to find that some shop owners are very open to getting out of the business. The hard part is figuring out the valuation of the store. I was in talks to buy an existing comic shop but when I saw the books (the accounting kind, not the comic book kind) and saw how much money the business was losing every month, well, no deal. Plus the owner's valuation of the shop was way inflated (in my opinion), especially considering the business was losing money. Now I'm back working for the man (again) and trying to figure out how to make a comics/gaming store actually work. Can't let the dream die! :-)

@adolphus28

5 жыл бұрын

Thanks for sharing your personal insights and opinion here. From the 17 likes i'm assuming we all got good value from your generosity here.

@jeremybds1901

5 жыл бұрын

*takes chubaca mask off while doing taxes*

@ChickenMcThiccken

2 жыл бұрын

open half pot shop / half gaming store. you might not sell gaming all the time. but you damn well believe you will be getting all walks of life to buy the weed.. you can do this in colorado or nevada; or wherever its completely legal . i expect partnership for this idea.

@WhenPokemon

Жыл бұрын

Thank you for sharing :)

@tonobaker601

Жыл бұрын

@@ChickenMcThiccken you’re taking 6 figures right to 7 the second you even think about legal cannabis anything nobody would go to it, but a rec use lounge catered for mtg gamers would ruin multiple people’s lives and probably run the consumer 200 bucks for an 8th and a booster

I had a store like that. People were free to play in my store. But then they ONLY came to play. They bought their cards from the internet. One dat I had a guy come in, walk into the play area and suddenly it became very quiet... So I peeked around the corner.... turns out that guy was taking orders from my customers... He was collecting money so he was going to buy cards in bulk from his parents bedroom, and then sell those cards at wholesale prices in my store in the game-room. Two weeks later my store went bankrupt. Customers then told me they were sorry my store went under, because now they no longer had a place to play.

Small business owner (clothing). Your videos are spot on, and your unedited presentation is great. My startup costs were on the lower end because A) I live in a small city in a rural area and B) I bought out the inventory, counters, racks etc at liquidation prices from another business that was failing. In the last 10 years, in my shopping center (4 storefronts), I have seen 6 businesses start and fail. Only one of them knew when to call it quits, the rest ruined themselves financially because they were so invested they didn't see backing out as an option. Business is stressful, harsh and very rewarding, but I can't say I don't sit back sometimes and think " I work almost 60 hours a week and my take home profit is probably less than a McDonalds manager... what am I even doing?"

Man you are spot on about the soul destroying, life sucking, lost the will to live, can't sleep at night cause you know you have to serve the next day feeling working for someone else. And that is what motivates people to risk the large percent failure rate in trying to start ANY business, and make little to no money cause it is better than being told what to do an being a slave to someone else. I am on that quest right now trying to break free but its difficult when you are so drained from the corporate grind...

Rudy, honestly I admire you so much. You can just save this for yourself, and yet you are finding a way to tell people how to not mess up they're investments. This is pure awesomeness mate, massive respect.

Very generous, honest, practical guide to open (or not open) a local 'game' store. Thanks for your time sharing this.

Man I love these kinds of videos. This inside baseball stuff is really fantastic. I've been looking at doing this myself and this has been helpful in figuring out what is necessary to get started.

Great video! The information you provided spans so many different types of businesses. I have lost count on the number of businesses that fail within the first 12 to 24 months just because they failed to account for the capital outlay they would have to make in their chosen business venture. Thanks Rudy, and keep em comin.

Thanks Rudy, some good information. I've wanted to have a game store for a very long time, looking forward to the next few videos in the series.

You forgot to budget air fresheners for the the smelly customers.

@SaraCaseb

4 жыл бұрын

jokuel111 right?! OMG!!! The worst BO!

@WhimsicalGriffin

3 жыл бұрын

Ive had a few of those come in. Horrible! OMG Not enough air freshener in the world for some of those people

@pathkeepers

Жыл бұрын

Costs more than rent and labor to kill that stench

@ThrillingMistDope

Жыл бұрын

I laughed so hard when i read this 🤣

@ethan6322

Жыл бұрын

Yucky

Congrats on the 20k! :D Loving this series.

Best video to date! This together with Deriums Q&A series is like a primer for each and everyone who is thinking about getting into any kind of retail business. It would be great if you could tall about examples from your own experiences, not with hard nubers concerning your startups and onging business, but more around things that have come up, snags and bumps along the way - and how you solved them. Keep up the awesome work.

Great video! Totally agree about the Drain Life effect of working for The Man, and the difficulty of getting off the hamster wheel without tripping.

When I first saw that vid in recommended and saw the channel name I thought "Great, another dude that sells MTG singles that contributes to my favorite cards having irrational prices..." and so on. Thank God I was mistaken, I'm thinking about my own LGS and your tips ans suggestions are invaluable. Thank you! That was really educating unlike most vids on youtube.

This is a really *really* useful video to listen to. I've been listening to a bunch of other short videos on starting up a retail and most of them don't even mention these extra costs.

Thanks for this video Rudy, I was thinking about starting my own business but a tutorial school instead of a game shop. Your talk really helped me see and understand a lot of the costs involved in opening a business. I'll have to reconsider some points and really calculate the costs of everything to see if it's worth starting. I also wanted to say you really hit the nail on the head, this hamster wheel most of us run on really does drain us so much. At the end of the day all I want to do is flop down and veg out in front of the TV. Anyways, looking forward to the next video! Thanks again!

Great Video and Props to you and all the other awesome shop owners incurring the risk for our fun!

Your job absorbing your creativity was spot on bro. That’s what up!

Great advice keep the videos coming man 20k subs congrats !

Very informative. I have forethought on some of the topics you brought up, but there was equally as much I did know think of. I have only started and currently operate a home based cell phone/computer repair and retail (phone cases, accessories, computer parts, etc). But I want to get a store front soon and the topics as you said are broadly accepted no matter what you're opening as a business. Again, great video. This was my first but not my last to see of yours AlphaInvestments!

Another nice, level-headed video. Keep the series coming!

Great video, Rudy. This answers about everything I'd asked last week. I'm fortunate to live in an area with no commercial rent tax. The new mayor has recently helped pass an ordinance stating that all local business signs must be made out of wood (I know, weird.) and that ironically fits the decor already present at my location in mind. All the things that are supposed to dissuade me are drawing me into attempting to open a store even more. Thanks for the new information though. You covered a lot of facts and statistics that many sources don't even mention in passing.

You speak absolute sense. Enjoying all your videos! Thanks!

I think more important than the money necessary to open a shop is making sure there's actual interest or need for a game store. Any shmuck can open a store but if there's no one around in the area to patronize it, then you have a snowball's chance in hell of making money.

@MrFreshlydoug

8 жыл бұрын

truth

@mikecondo

8 жыл бұрын

Exactly, I just felt that Rudy skipped the first step or one of the first steps.

@Krfification101

5 жыл бұрын

That is one of the first problems I came up with when I decided I will eventually own a gaming store/lounge. Makibg sure I open in a place where people will actually come in and purchase my services.

great video, this info is relevant for most entrepreneurs looking to open any business. been enjoying the videos keep it up

I absolutely love this channel, never stop please:D

I really enjoyed this video and I am not even interested in opening a store. I really appreciate my store a lot more that they are three years old and managed to survive against some HUGE competition in our area. Keep making the great content.

good stuff man. keep this series going. looking forward to inventory.

Great video. Very informative. I think in this day and age, its easier to manage an online store instead of an actual game store. For one, you dont need to pay rent to a storefront. You'll need to pay rent for storage but thats alot cheaper. Then you can go to kijji or craigslist for rare product to flip (if you choose to do that). Hang out on facebook mtg groups to build a community (or even youtube). Probably alot easier to start than a real store. And 90% there. Afterall, dealing with customers is a huge pain in the butt. Im sure everyone will tell you this. Running a game store sounds amazing but that financial investment is insane. Online presence seems to be the way to go this in this era. Hope this gives some insight into those people who wants to start a business. Cheers

I love this video, man. Keep these coming!

Dude you took business classes. I’m into the videos it’s really market specific talk. Mtg is so good for a business model because of how many different things and how specialized this market is. Good to hear the words of a fellow buzzy grad.

Awesome to see his dedication to the Suikoden game series one of my favorite.

Great video. Informative and entertaining. Keep up the good work.

Great video rudy, big fan, always learn a ton from your videos

Great advice Rudy! I am also a business owner and my company is currently standing as one of the top 3 largest in the country within our industry(Industrial Machine). So I can vouch that what you advised here applies to other industries as well. P.S. Haters are going to hate! Don't listen to the other jealous "KZreadrs" trying to steal your thunder. They are just jealous that you have done so much more within the short time that you have been here than they have in the last 10 YEARS!

Loving this series. I know you mentioned about having dealings with restaurants as well, do you think you could touch a bit on those types of businesses as well? Essentially just the differences in opening a place that deals in food product as opposed to non perishable items like cards. thanks and keep up the good work!

Great vid, great insight, keep em coming

i like how realistic you are about payments and money. its like listening to my grandpa talk about his old business :P

thx Rudy for all the info like always and I've gonna be waiting for Ur next business video👍👍

thanx for sharing this info. Next time I'm at the shop and someone brings up opening their own store, I'm going to point them this video

keep up the great content. cant wait for part 2 lol.

Considering I've been thinking about this for the last 3 years.... I am PLANTED in this seat for this vid.

I've been looking into opening a store and this kind of reaffirms what I was thinking. 15k to open, 20k for stocking product, and 10k-15k in a business account to cover the first 3 -6 months of overhead assuming you only operate at a 30-50% return on your monthly overhead.

Happy 20k subs man.

Don’t like magic, don’t plan on opening a card store. Watched till the end. Your an intelligent guy Rudy.

I can confirm for the "Indoor Mall" thing. My rent for my shop inside a shopping complex is ridiculously cheap, but I am not able to be sanctioned in the location, because i do not have an external entrance. Rudy knows what he is talking about.

The biggest card and comic shop in my home town when magic came out was right on a if not THE major bus line in the city also one of the main 4 lane roads thru the city end to end about 15 miles , maybe 25 miles. It was also right next to THE premiere video arcade in town, with a single screen movie theater ( old school with balcony). A mile from a 2200 student high school and 800 student middle school on the same campus. Across from a major grocery store, laundromat, hardware store, tire shop, and shopping mall with many things in it including a major fitness center. It was a place a kid could go on their own or get dumped by a parent with $10 while they did errands, yoga, etc.

Holy shit... a lan line. You the real deal Big R.

Would you ever consider selling shirts for those of us that can't/don't do paetreon? I'd love a "don't be a Timmy" Tshirt or something fun like that.

@codmw3junkie

8 жыл бұрын

Hell yes!

those instant attack on the camera hilarius

He speaks the truth. Retail stores are a great write-off, or a good combo-business with something else. It's much easier as a family business without employees, and there has to be someone with a good job to get the store through cash flow crunches. There are way too many product releases that just don't sell.

OMG you're so right about the job thing and not be able to find the energy and creativity to start by yourself! Experienced exactly the same. I'm starting my own business now for 1 year after being fired, which was a blessing in disguise. It's hard work and I have little money to spare, but it is more satisfying then slaving around some fucking company that don't give a shit about you >.

I am in the process of opening a game store as we speak. I will give everyone all my numbers and how much I end up spending. I plan on opening the first month of November and one thing I'm trying different is launching a Kickstarter September 16th. I made a custom deck of playing cards as a reward that I think people will be excited about! Thank you for all you do and I will keep everyone updated!

@MichaelSultai

8 жыл бұрын

Good luck!!!!!

@kimbach1824

7 жыл бұрын

So, are you still open?

@xkillrocknroll1

6 жыл бұрын

Yea updates?

@tehdoctagaming3435

6 жыл бұрын

Interested on how it went

@RunielNalovir597

6 жыл бұрын

Same.

I feel what you are laying down at 10:00. I am there right now.

I’m more investing in Pokémon but these alpha video’s makes me want to do get in to Magic and understand what the market Looks like and understand more about what Rudy tells about the game

Very interesting, even for those not planning to open a store. :)

need a part 2 on how to fine good items venders stock. also kick ass video.

Crazy man. Thanks for the info :)

totally agree 100% on the points re working at/dealing with big corporations

Phone rings.../sigh :) Walks over...Done with that! Neat video.

0:10 "So, I wanna talk about opening a game store." 10:52 "..Philosophy of life, meaning, and purpose; ya know, I've thought about that stuff."

I don't play Magic, I don't collect cards but MAN you are entertaining. No pledging a dollar? I'm not really interested in investing in Magic but I'd love to contribute a dollar just to support what you do!

thanks dude your videos are really helpful

This helped me , thank you.

Damn it Rudy could have used this 3 months ago :D Respect to anyone who opens a store, it's been a lot of hard work and stress to get to that point. And that is only the start.

I work 9 hours a day talking on the phone. Imagine Wolf of Wall Street boiler room. After work I'm exhausted, so you're absolutely right. But these video's are easy to watch after a long day. How do we escape the corporate beat down?

I like what your doing keep it up.

Great info!

great video!

Bought one fat pack last month. Am i now an investor ?? Kappa

@monkeyjesus3470

8 жыл бұрын

I bought 3 conspiracy packs, i believe I'm an investor now.

@immortanjoe9339

8 жыл бұрын

i bought khans of tarkir, its all about the fetch

@turbochrist

8 жыл бұрын

I bought 900 boxes of Dragon's Maze

@artofdan1840

8 жыл бұрын

I bought a booster box of Conspiracy 2 - 1 Show and tell. Net loss = $65. For now...unless the prices spike.

@monkeyjesus3470

8 жыл бұрын

Wilburious good investment

I'll totally have you stream on an avant garde video wall in my dehydrated gelled espresso shot card store if I can live in and infinity draft in your Magic restaurant once I fail.

Hey Rudy, it seems as if you do not have a brick&Stone store (anymore?). So what is difference in your wholesale prices when buying boxes of the big retailers as opposed to WPN store? If there even are any.

Who needs business school when you have Alpha Investments.

This is applicable to *any* business. I agree with Rudy that its completely bizarre that nobody ever teaches this kind of thing at any level of primary/secondary education.

Haha, my bet was right! I noticed the book said Flagler on it and I figured you probably lived in St. Augustine. I work on real estate investments right now in the Jax Beach/Ponte Vedra area.

Great videos

cant wait part 2

Rudy, would you recommend setting up an online store first then transitioning into the brick and mortar as a way to spread out some of that 15grand?

gimmie more man , getting out the army soon and i wanna open an esports gaming/tcg shop any insight would be awesome!

Great video, chief! I'm curious what next month's patreon booster box set will be. I needs to gets me some of that Alpha #Inventory

Great advice

can you do a video about how distributes work and how to deal with them

@kingshit7362

3 жыл бұрын

Have capital and don't miss orders if ur inconsistent when it comes to buying from them then you will probably get dropped as a customer.

@bobbyhurley4869

3 жыл бұрын

@@kingshit7362 where we get the product

@kingshit7362

3 жыл бұрын

@@bobbyhurley4869 research card distributors online they all have websites.

I’m just curious if you have already used up your capital investments in getting your store stocked with close to 8 thousand worth of video games consoles model trains comic books collectables and other memorabilia would you have a better grip on things when you enter the first month of a new business

this guy for president

Right on, add some advertising to that initial figure too

is it save buying booster boxes from amazon? because i saw a eternal masters box for 220 euros with shipping

killed me with the little tie bit

so if I am going to open mostly singles to make money how many boxes should I per set [stander] to make a living, starting capital would be around 40,000

Is rental and/or liability insurance something that needs to be purchased as well? How much would that run per month?

I like how he keeps putting cards in the backround..like the black lotus,mox and now sol ring

Does rudy even have a working game store at the moment? I havent seen any new card shop life videos. Only videos of inventory in his warehouse

How do I go about gettting inventory. Please tell me timmy, how to find many types of inventory and where to find them

here comes the timmys

5:54 got me crying 😂😂

Rudy I havent even watched the video but fuck thank you thats what I want to do thank you for making this kind of content you fucking rock, str8 up best MTG youtuber

Rudy, I'm loving this video. I feel like shit just got real on this channel. This is great information. On a side note, is there any chance of you selling t-shirts similar to the one you have in this video?

Id love to see your video game collection 😁

How easy do you think it is to tell if a business is running in the red? The store I go to isn't even a wizards sanctioned store. They sell a few boxes if we're lucky and not much else. It used to be a movie store but I doubt they sell much of those, either. I'm worried about it closing down because I then I won't know where to go to play Magic.

10:30 - very wise words - that's exactly what happens and that's exactly what the society WANTS to happen to you.

Hey, Pretty new to your channel but I really like your insights and opinions on the game and CCG market. Where in FL is your store located?