So after opening up a small LGS myself (we have been in business for almost 2.5 years) I have to say you are 100% on point, I have had a very similar experience
As a store owner the easiest way to combat the lgs issues have been to really ignore tcgs as a mode of profit. Swapping to tabletop gaming, event organizing while still hosting tcgs as a "service" allows you to have margins without the worry for the future of tcg markets
Just clicked on the video, I hope the answer for YOU is a resounding yes! I would say for most folks, it should be a no, UNLESS it is a second business that is not responsible for supporting essential aspects of life, or is treated more of as a hobby still. Interested to watch this video though!
Once you've been enjoying the game for long enough, and you've had your fill. Opening a card shop is a way to sacrifice your enjoyment to open the doors for tons of people to get that enjoyment that you had to sacrifice. It's a selfless endevor. You're going to struggle. There's not much money in it, but it can be done. This is not a way to become rich. It's more like a way to get by, and be happy while you work for the rest of your life.😅
@KitchenTableTCG lol. I have some sort of mental block. I can't type short messages. I should see someone about it. Altough, I'm not sure it's all that big of a problem. You can always improve yourself, though. -Chapter 2-
@@YokoBeLoco What is up with people thinking lengthy opinions is a bad thing? If people don't have the patience, they won't read it I'd think, simple as that. If you need more words to express yourself, feel free and never be afraid of using words in plural.
Ive thought about it heavily recently, theres not a single LGS in a 30 miles radius where i live, and a very large demand for mtg. I just dont have the capital to start. The only competition is walmart and everytime i go in the store, its completely sold out of magic within a week of restock.
@@KitchenTableTCG oh definitely, it's a tourist location, with 2 military bases. Hilton Head Island is very popular as well, there's even a small college here too, so that could be the case.
Too late. Rudy said not to in a video a few months ago, but I did open a game store. Before your channel Derium and Rudy were the go-to sources. But after your Magic Historian episode, your perspective was an interesting counter-point and your use of social networking was beyond theirs in some ways.
As somebody that owns on-line board game store in EU (also selling TCG), for 8th year now, I see ZERO reason to open physical store, NONE, there is no reason. Even if I would own top notch retail space, I would rather rent it or sell it, than open LGS..... And biggest over-head cost is not rent it is extra employees you have to pay for running LGS, and margins are waaaaaayyyy to low for all over-head costs.
I would compare a lgs to taking 100k and buying the best of the best fireworks. It starts out super cool, and after 20 mins the shows over and you have nothing left. Its a no. But im glad your doing good.
The one time you didn't actually listen to Rudy. It seems like you've made it work really successfully though! I will say, this isn't a downturn, this is the normal tcg market across the board. The only thing that's changed is the new tcg's are all coming from Kickstarter vs passionate developers. Not to say Kickstarter games are more vacuous but it's not hard to get a tcg funded right now.
If you wanna make money, the answer is no, the big payday is the day you close and liquidate stock and get your equity back, if you wanna make a money pit and never take a dime and invest millions so others can have fun and hate you for it, then yes. Best of luck to all those, the barrier to entry is super low...and that is because the failure rate is super high... this is a trend across industries, the harder to start, the more lucrative, the easier to open...the more flooded the industry and higher certainty to fail.
If you want to open a gamestore save up and buy commercial property preferably commercial land. Then build 20 store front plaza about 1000 square feet fronts save the bulk of the land for parking but most importantly for 2 to 3 anchor store rentals. 10,000 square feet plus stores. Make it like an out door mall. About 300 acre commercial land. This first section if done correctly should take 100 acres. Then slowly grow into more development for restraunt rental hopefully a chain plus local mom and pops. Once you get your rentals to about 100k a month then start your game store buy building it on the property. Don't just open a game store.
The bulk of your income should come from your rental property income. Your store should be rent free to your self. A game store biggest cost are utilities and rent/mortgage. Remember if your renting to break even divide your rent by 30. Do the same thing with your utilities then add them together that how much per day you need to make to break even. It probably close to 200$ a day. But if your rent or mortgage on the property is zero it probably closer to 10$ a day.
Yeah as strip malls die like flies. Save up to buy commercial land, you obviously have never even worked out the cost of this. What you describe is several million dollars of investment.
You talk about stores and bad margins, but you yourself continue to carry the product and drop the price, stop carrying these products that you can't sell at cost X 2.
It doesn’t work that way simpleton. If you don’t buy the bad products, distribution will reduce allocation for good products that do have high margins. Losing you a lot of potential profit. Stores don’t sell boxes below cost for fun genius. Smooth brain champ.
