Watch A Business Investor Break Down CardsHQ's Numbers!

Подписаться 2 тыс.

Просмотров 4,5 тыс.

50% 1

httpNick dives into Geoff Wilson's latest episode about Cards HQ progress and fully analyzes the business model while providing advice on what he would do moving forward if he was Geoff.
‪@itsgeoffwilson‬ ‪@CardsHQShop‬ ‪@SportsCardInvestor‬
#thehobby #sportscards #cardshow #cardshop
~~~~~
Nick & LZ are here to help you understand the Sports Card Hobby better and how to capitalize on it! Enjoy interviews with Industry Leaders, Hall of Fame Players & other Special Guests. Our mission: To help ALL collectors gain confidence and success in the hobby.
ONLY On This Channel: Card Show Tours, Case Breaks & Giveaways + Exclusive videos featuring Tips & Tricks that have helped Nick & LZ build their amazing collections!
🎥 New "Sports Card Madness" Podcast Episodes Every Friday & Tuesday!
Random video drops ALL THE TIME!
Spotify Podcast
open.spotify.com/show/48hzXpdy...
Apple Podcast
podcasts.apple.com/us/podcast/...
Nick Instagram
/ bostoncardhunter
LZ Instagram
/ autographstalker
Facebook Group
/ 286168030750036

Развлечения

Опубликовано:

28 июн 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 68

@brianwisz9006 Месяц назад

You should dust that Angel Investor cap off more often! lol Loved the perspective you provided and advice; it will be interesting to see if Geoff catches this video and exercises this priceless information.

@SportCardMadness Месяц назад

Thanks! I hit him up and I think he plans to watch

@brianwisz9006 Месяц назад

@@SportCardMadness cool, we will have to follow the progression. Will you be going to the next Shriners show? I am unsure when it is.

@SportCardMadness Месяц назад

@@brianwisz9006 Definitely! We did a video for the last one. I try to get to them all as its 15 mins from my house.

@brianwisz9006 Месяц назад

@@SportCardMadness I’ll check that video out. It’s like a half hour for me. I met JunkWaxHero there and a couple others. It’s a great show, especially for vintage heads.

@fear0 Месяц назад

The amortization of his Will Grier cards was....umnnnn 😅

@youngpup2028 Месяц назад

Just subbed. I was going to do a business analysis of this as well but, you’re right on point with all my talking points. Great job!!!

@SportCardMadness Месяц назад

Thanks!

@Kenobimoose Месяц назад

Whatnot definitely a big part considering they constantly sell 25 cent cards for $3-5 each

@TytheSportsCardGuy Месяц назад

Solid breakdown! The margins on selling courses and information are really high if you know what you are doing.

@chrisjcowboys Месяц назад

Great Video! Good Info

@SportCardMadness Месяц назад

Thanks!

@homeroscollection Месяц назад

Cool video analysis. When speaking of margins, does anyone know what the gross margins is on the product he is selling? For retail, I would think a gross 50-66% margin is what you use to set your budget. Then you apply expenses to that to get your net margin which is your profit. So if he is using a 50% margin for a volume business, they made $2m before expenses. Can that be true? Or do you think they are using a smaller gross margin?

@DRUDO28314 23 дня назад

This was a very good video. One of the best on RU-vid.

@BobBoozle Месяц назад

Great ideas. A creator I follow said a few weeks ago that the content around the store was a little underwhelming considering the resources they have. I like your ideas about educational content about What Not and breaking. Selfishly, I'd like to see Geoff fill a huge void in educating about the newest releases they are opening/selling. Not during the live streams but in separate videos. Topps doesn't effectively explain why any of their releases matter. Such videos could help collectors better navigate or understand the hierarchy of products.

@SportCardMadness Месяц назад

Wow great idea totally agree!

@u_s_a_cards Месяц назад

You're hired. Geoff will be calling you on Monday.

@jillyes1 Месяц назад

I don't think whatnot is going to eat ebay. I'm a very large ebay seller and whatnot recently promoted me on their site in the storage unit category. At first I was getting between 100-180 people in my stream due to their promoting me. After I hit my first 1000 sales they stopped the promotions. I went from 100 plus to 50 overnight and getting 1/2 of what my items are worth. Since then I quit whatnot and back on ebay getting 100% value. Slated to do close to a million on ebay this year. I've also talked to a bunch of large sellers on whatnot and they all complain about the prices being too low. Maybe the sports card category will flourish but I doubt the rest.

@SportCardMadness Месяц назад

Wow, thanks for your perspective and congrats on the sales! I should have expanded a bit and said something more like "live selling is going to overtake static auctions at some point". Its just my spidy sense and watching my kids and their friends and how they shop. We will see how it plays out for sure! It's not too difficult for ebay to add a live selling element and I imagine at some point they will be forced to.

@BennyBaseballCards Месяц назад

How would you factor in the "new business let's go try it" mentality? I'm sure a lot of his early sales were people checking out the store for the first time just to see it. There was a lot of hype and buildup. 4 million in 4 months, but maybe $2M the first mo, and $650K each month thereafter. Also not sure how they budgeted for $4M of sales the entire year - that's just poor planning if they beat it shortly after Q1. Do you think it would be worth their while to create a customer database, where basically they are able to track the amount of times any given individual purchases something from the store? Not sure if they have customer accounts or anything like that. But customer retention, as in any business, is essential to growth. I work in Corporate FP&A for a startup btw (SaaS), just asking to learn. Thanks

@SportCardMadness Месяц назад

LTV (lifetime value) of a customer is critical here because it’s 10x more expensive to acquire a new customer vs keep an existing one. So of course they will want to track repeat buyers repeat breaking etc to fully understand margin over a moving period of time. They already have a lot of customers in the other businesses, but they should absolutely be tracking new vs existing. Awesome … sounds like a fun gig!

@TheSportsCardDad Месяц назад

Good stuff man!

@SportCardMadness Месяц назад

Thanks!

@nicekevin День назад

Geoff is already beyond sports cards. Also, he's already rich.

@elrey_collection 21 день назад

Nice video... some interesting advice.... not sure that I love the "education side", but certainly could work if done well... BTW, CAPEX does not include inventory and I am going to guess that not a ton of variable costs from electricity... but I could be wrong there...

@SportCardMadness 21 день назад

@@elrey_collection thanks! Yeah I recorded off the cuff and meant to say those massive glass fixtures w cards

@jdicke1017 24 дня назад

Can you depreciate Desmond Ridder and Kyle Trask cards? :) This is a good video. Thanks for sharing.

@DanTheCardMan2 22 дня назад

Late to this one but this was great

@davescards32 18 дней назад

Maybe I missed it in the original video but how much is Sports Card Investor PAYING Cards HQ to use the space? And is that fair market value or inflated to help revenue? My understanding is they are two separate businesses and SCI left their previous space to move into Cards HQ. If SCI is covering their rent, then that’s a significant amount of Overhead that a separate company is paying for but would be realized as revenue.

@jimsholle4277 Месяц назад

You suggested to read Never Split the Difference by Chris Voss. I did would you say this is the Black Swan event? Thank You.

@SportCardMadness Месяц назад

Nah ... I think its just a young business finding its way. A Black Swan event would be something more like WhatNot shutting down, cards dropping by 90%, or Geoff leaving the business and not telling anyone. I don't think any of those will happen (except for some modern cards!)

@sp123 Месяц назад

He did release sports card investing for dummies if that counts

@SportCardMadness Месяц назад

It definitely does. That will help all his businesses and it "leaves time and space" as I said.

@WaXimus 14 дней назад

great advice!! would love to pick your brain!!

@joereynolds3237 Месяц назад

This is a very neat breakdown and thoughts. When do you think he is going to regret having such a large ship?

@SportCardMadness Месяц назад

Remember he is leasing … he did not buy the shop. Easy to downscale if it ever comes to that.

@joereynolds3237 Месяц назад

@@SportCardMadness that is a good point, hopefully the lease he had to sign is not too long or has favorable language to allow a pivot if needed. I don't know enough about commercial leasing so I can't speak too much. I wonder if he is wanting to do more online sales if he should have opened a shop for the public that is MUCH smaller and also leased a warehouse to do the online sales/shipping. What would have been your recommendation for him if he started all over?

@SportCardMadness Месяц назад

@@joereynolds3237 It depends on the price per square foot. A public facing location has a ton of benefits as well.

@u_s_a_cards Месяц назад

He's not a ninja when it comes to buying /trading cards, to be fair 😬

@AddictedtoProfit 6 дней назад

I just started taking wn serios and im makibg about 5k a week and im just starting. I absolutely gate ebay so i hope they do end up eating ebay aka feebay

@SportCardMadness 6 дней назад

@@AddictedtoProfit I agree … We are talking to the head of Whatnot today at The National for an exclusive interview. Should be up on the channel soon!

@SamuelsViewsEST16 Месяц назад

I'M STILL WAITING FOR THE NUMBERS TO BE BROKE DOWN..... 🐷 🎒

@slowyo9645 День назад

Hot take. Geoff is not “Jeff”. Don’t let them fool you and do what’s right by pronouncing it correctly, Gee Hoff.”

@oarancards4443 Месяц назад

This is coming from a red sox fan😂

@SportCardMadness Месяц назад

Ooof you got me! Sorry … I’m from Boston I can’t help it! Il much more of an NBA guy though 🍀🍀🍀

@oarancards4443 Месяц назад

@@SportCardMadness just kidding go celtics

@winbig23 Месяц назад

Good insights on your behalf, but you’re giving Geoff way too much credit, because he’s a Master Promoter and a professional hype man, but a bad businessman which he’s lost several hundreds of thousands of dollars or more on very bad sports cards purchases over the last 4 years using his wife’s money to burn through! Geoff does some things good for the hobby, but he’s heavily promoted countless very bad sports cards investments that turned out to be disastrous!! His wife made several millions of dollars when she sold her business to a big company. So, Geoff is like a trust fund baby spending his wife’s money and he’s addicted to sports cards and public attention! So, I’m sure his big card shop is making very minimum profits with all his tons of overhead and huge build out expenses, but once all the hype dies down then he will be bleeding money like crazy!!!

@goatretrogamer Месяц назад

There is no way he's made 4 million dollars, absolutely none. Thats what 30k a day? Lol theres cards on the shelves that were there on opening day.Great video

@johnniejay Месяц назад

If hes factoring in the breaking side of things (which are carried out in-store) coupled with online sales and in person sales then 30k a day really isn't that farfetched.

@goatretrogamer Месяц назад

@@johnniejay that's still over a grand an hour. It's mathematically impossible considering the size of his business and what little inventory he has. That place is not busy coupled with his website was down for half the time the place has been open, then throw in his streams which aren't popular, I'd say a more honest guess is he's made a little over a million since opening. Sports cards are not selling unless it's way below market value. He does not have the vintage inventory to come close to four million in sales. He's frauding out to a dwindling fanbase.

@paulmouradjian6045 Месяц назад

So without any back up P/L statement, you are assuming a Grifter /ConMan is telling the truth?

@SportCardMadness Месяц назад

Just going off public numbers for fun, not going to try and do forensic accounting obviously. Though there are ways to verify private numbers.

@paulmouradjian6045 4 дня назад

@@SportCardMadnessGood luck with that. Not good enough for any COA or official documentation. Revenue is meaningless. What is your net profit after all the expenses, operating costs, etc. al. Ridiculous to draw any conclusions with a "benefit of the doubt" pass.

@moronsaltable Месяц назад

I wouldn't have the balls to ask Harvard professors if they want to do a case study about my business, especially if I'm carrying a binder full of baseball and Pokémon cards

@SportCardMadness Месяц назад

You’d be surprised! They love this stuff and want a diverse set of studies for their students to work through.

@moronsaltable Месяц назад

@@SportCardMadness Harvard intimidates me, I'd have to shoot my shot lower

@SportCardMadness Месяц назад

@@moronsaltable We all breathe the same air man!

@MyMg23 9 дней назад

WHAT ON EARTH makes you not believe that Geoff Wilson is nothing more than a planted character by the card manufacturers??

@GaryBynkoski 4 дня назад

Time to be adults (in a child’s hobby) and take an unflinching view. All of these “investors” are programmed for failure. They are making the hobby prohibitively expensive for not only children, but everyone. Producers are over producing, and the average ROI on a hobby box is from 15 to 20%. From the prices I’ve observed at Geoff’s store, his margins on the cards alone, does not exceed 20%. He must know these are unprofitable returns. It is time for the true hobbyists to salvage the hobby from swindlers, and money grubbing leeches who freely proffer investment advice when they don’t know WTF they’re talking about

@AddictedtoProfit 6 дней назад

All smoke in mirrors, this guy has done a great job of faking it till you make it and it's gonna catch up to him

@TW-fv2zu Месяц назад

ACTUALLY - I think Geehoff is NOT doing that well. It is a very hard business and he has a (1) HUGE Store (2) Many Staff (3) Declining Card Market and (4) his is a business Built on Borrowed Money. As a Business Mkt Research Analyst & Statistician, I’m gonna say it is Not going well.