I want to Open My Own Store and I have No Capital. Advice?

[Don't Tread on Me]

I am a loser with 7 years of retail experience but no experience with supply chain or inventory purchasing. I am full of rage at my current position and want to quit and open my own quiet little store where I am the sole employee. I have $2000.00 in capital. With inflation so high, I figure it's a great time to get a low interest loan and get my small business off the ground, then pay the money back with the worthless 100k bucks that we are going to get in the coming years before the Fed raises interest rates.

Any advice? Should I just get a credit card and max it out to pay for the opening expenses like maintenance and inventory? Or is a loan an option? I am obviously expecting to operate on a loss for a while, but I figure if I am the only employee I save a ton on labor costs so it should work out in the long run assuming I can actually sell things.

To be clear: I do not want to make money with this endeavor. I am unmarried with no kids or pets and my expenses are fairly low. I would just like to earn enough to eat and pay rent and keep the store open. I have no interest in expanding, opening other stores, or hiring other employees.

 

[KittyGremlin]

What do you want to sell? Might be a good idea to start off as an e-shop.

 

[stupid frog]

get capital

 

[RainwaterDrop]

What do you want to sell? Might be a good idea to start off as an e-shop.

Precisely, easier as you just need some capital to get your stock going on and for advertising. Not needing a venue helps lower your expenses, no need to burn thousands in rent and you just limit your expenses to stock, advertising, shipping and taxes. Less risk that way!

 

[Don't Tread on Me]

Precisely, easier as you just need some capital to get your stock going on and for advertising. Not needing a venue helps lower your expenses, no need to burn thousands in rent and you just limit your expenses to stock, advertising, shipping and taxes. Less risk that way!

Hm. Well, I want to open a game shop that involves selling board games, tabletop games and cards. Part of the appeal is having a space for people to gather together and play, and holding monthly tournaments for them.

 

[Shig O'nella]

Hm. Well, I want to open a game shop that involves selling board games, tabletop games and cards. Part of the appeal is having a space for people to gather together and play, and holding monthly tournaments for them.

Is there a demand for that in your area? What's the competition like?
If there is demand, why isn't it already being filled and is there room for another store? Check around - any local games shops gone out of business recently? Why?
What is your hook? How you going to develop a loyal clientele? More importantly, how you going to keep them? Game nights and tournaments are great fun, but they can get somewhat heated. Pains to organise, too.

 

[Don't Tread on Me]

Is there a demand for that in your area? What's the competition like?
If there is demand, why isn't it already being filled and is there room for another store? Check around - any local games shops gone out of business recently? Why?
What is your hook? How you going to develop a loyal clientele? More importantly, how you going to keep them? Game nights and tournaments are great fun, but they can get somewhat heated. Pains to organise, too.

There's plenty of competition. I can think of at least two other game shops in the area, but it's a pretty urban area. I don't believe any of the local shops have gone out of business even during the pandemic.

As for a hook or loyal clientele, the only unique thing I have to offer so far is that I do tarot readings, which I think might help me appeal to the female audience a bit more than the average game shop since that's very similar to astrology.

 

[Snakebottom]

Do a tarot on yourself and let the cards tell you how to set up a gaming store then

 

[Genichiro]

As you mentioned, building a client base is more, more important than getting capital. Forget loans at this point, you don't want that debt stuck together with the acrid taste of a failed business. The torment of having idle, still stock on credit is no joke.

Tarot sounds ok, but it be preferable and advantageous if you are willing to develop skills and patience to paint miniatures for example. Develop paint skills, customers come, income and capital for stock.

 

[Don't Tread on Me]

As you mentioned, building a client base is more, more important than getting capital. Forget loans at this point, you don't want that debt stuck together with the acrid taste of a failed business. The torment of having idle, still stock on credit is no joke.

Tarot sounds ok, but it be preferable and advantageous if you are willing to develop skills and patience to paint miniatures for example. Develop paint skills, customers come, income and capital for stock.

Hey that's an interesting idea, thanks!

 

[Grub]

Hm. Well, I want to open a game shop that involves selling board games, tabletop games and cards. Part of the appeal is having a space for people to gather together and play, and holding monthly tournaments for them.

So You Want to Start a Game Store? Recommended Resources and Advice | BGG

Seeing a number of threads from time to time in which people ask for ideas, tips, and advice for starting a FLGS (Friendly Local Game Store), [url=http://boardgamegeek.com/geeklist/50560/tales-of-a-former-game-store-manager]having managed one myself and delighting BGGers with my tales[/url],

boardgamegeek.com

 

[Don't Tread on Me]

So You Want to Start a Game Store? Recommended Resources and Advice | BGG

Seeing a number of threads from time to time in which people ask for ideas, tips, and advice for starting a FLGS (Friendly Local Game Store), [url=http://boardgamegeek.com/geeklist/50560/tales-of-a-former-game-store-manager]having managed one myself and delighting BGGers with my tales[/url],

boardgamegeek.com

Oh wow, thank you.

 

[byuu]

Why the fuck would you open up a new store in the middle of all the Corona shit?

 

[Don't Tread on Me]

Why the fuck would you open up a new store in the middle of all the Corona shit?

The middle? It's the tail end now, the only people who care about Rona are the news.

 

[byuu]

The middle? It's the tail end now, the only people who care about Rona are the news.

Maybe it's different where you live but they're really ramping up the restrictions where I live.

 

[Dyn]

You should flush your $2000 down the toilet for all the good it'll do you and then go on welfare lmao.

 

[Don't Tread on Me]

You should flush your $2000 down the toilet for all the good it'll do you and then go on welfare lmao.

Hey I would rather do that then try and get another job working for someone else at this point.

 

[Hippopatumus]

First thing you do is due dilligence on your business idea, in which you would discover that you are only likely to net $20 per sale of a premium board game, and you're unlikely to sell more than one or two a day. 40 * 30 = $1200.

Lease on a strip mall type location in a shitty area runs 2-3k a month.

Cards are a better business model, but even then you are looking at huge up-front costs to get started with inventory. Most people that get into the game already have a huge collection to bootstrap with.

It seems like most of the people that run stores like this do it because they inherited some cash and get a little bit of a ego boost from running a shop in their particular nerd community. It seems like a really bad idea for someone who doesn't already have a successful revenue stream from something else.

 

[Dyn]

Hey I would rather do that then try and get another job working for someone else at this point.

Buy one .44 semiwadcutter and then put the rest of your $2,000 on Black 17, you'll have a better chance of making money than your retard shop idea and a plan B for when you lose everything.

 

[Don't Tread on Me]

Cards are a better business model, but even then you are looking at huge up-front costs to get started with inventory. Most people that get into the game already have a huge collection to bootstrap with.

Alright, that makes sense, so if I specialize more I can be successful with organizing and providing a space for gamers, I would just need to eat a lot of upfront cost and work hard to advertise and get people in the door as soon as possible.