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Hoping to open up shop in next couple months
#14

RE: Hoping to open up shop in next couple months
I'm gonna give you the best advice you will get, and sorry if i burst your rainbow, but don't waste your time or money, you will be out of business within 6 months, you can't compete with online distributors like Dave and Adams, blowout, atlanta sportscards etc..., for boxes, and cases, you won't be able to compete with places like ebay, checkoutmycards, etc.... on the net for individual cards, or set needs, etc...

Your expenses will eat up every penny you put into it, even before buying merchandise to sell, you will have rent/mortage payments, utilities, taxes, the insurance's that you will need to even be open will kill you on expenses alone, especially the liability insurance that will be required even before you open the doors to accept customers in case someone get's hurt, slips and falls, shot during a robbery attempt, etc..., then you have to collect and pay sales taxes, if you have employee's on the payroll, or even put yourself on the payroll, you will have to have an EIN number, Pay SS, Unemployment insurance, workmen's Comp insurance, etc

then there are the little things that always go wrong, that end up costing big expenses immediately, then if you plan on accepting credit cards, you have to pay a fee every month to all the issuers, visa, Mc, Amex, etc....., if you plan on accepting personal checks, the fee's it cost to collect the money owed to you if the check bounces, etc....., legal fee's and so forth.

Then to deal directly with the card companies, etc... Topps requires a minimum 10 case purchase with every order, Upper Deck, Panini, etc, all require a minimum case purchase with each order, usually 10 case minimum, and then you have to jump through hoops, to even get them to consider selling to you, and then you have to meet all of their requirements to sell those cases and boxes, etc...(it's not as easy as people think), you won't be allowed to sell boxes, or cases online, as they have limited the number of dealers that are allowed to do so (for new released stuff)

Unless you have $250,000 or more in liquid assets, after all your expenses to open, and monthly operating expenses, and can afford to be penniless, and not making ends meet and being able to pay the bills and support your family for at least 2 yrs, you will just be throwing away the money to the grinder.

if you really want to sell, then set up a website, very minimal exspense, and open an online store, just remember you have to keep your prices in line for what people will pay, and most buyers will not pay full BV or even Half BV, unless it is a card really needed for pc or a set.
the bucket
http://postimage.org/Shez

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RE: Hoping to open up shop in next couple months - by shezdoni - 06-23-2012, 11:14 PM

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