Starting video game store a profitable buisness idea ?

OT?

In todays world of inflation , piracy ( PC to console games piracy , machines moddable ) , online gaming stores , is it wise to open up a nifty video game store? Is it profitable buisness? Movies , Music , Electronics ( TV , DVD Player , Music system ) sells quite good, video games / consoles sell good as those?

What do you suggest?

Would you limit yourself just to video games or would you do CDs, DVDs, etc. as well? We have a few used media stores like that that take in trades and don't really sell new stuff but they do a healthy business.spazzx625

Of course, include Music . Movies and accessories as well ( minus Heavy electronics as T.V's , music systems ETC ). What you think?

No. In todays business climate you can't be profitable next to chains like GameStop, Best Buy and Walmart.

Edit: Well, you can be profitable, but will it be worth the trouble?

You also have to look around your area and make sure it isn't more convenient for people to go to Best Buy, or one of the other big name brands.

[QUOTE="spazzx625"]Would you limit yourself just to video games or would you do CDs, DVDs, etc. as well? We have a few used media stores like that that take in trades and don't really sell new stuff but they do a healthy business.indzman

Of course, include Music . Movies and accessories as well ( minus Heavy electronics as T.V's , music systems ETC ). What you think?

No. In todays business climate you can't be profitable next to chains like GameStop, Best Buy and Walmart.

Edit: Well, you can be profitable, but will it be worth the trouble?

You also have to look around your area and make sure it isn't more convenient for people to go to Best Buy, or one of the other big name brands.

airshocker

Hmmm... Its true i guess. Peeps'd prefer buying from Brand chain shops over new shops.

[QUOTE="indzman"]

[QUOTE="spazzx625"]Would you limit yourself just to video games or would you do CDs, DVDs, etc. as well? We have a few used media stores like that that take in trades and don't really sell new stuff but they do a healthy business.spazzx625

Of course, include Music . Movies and accessories as well ( minus Heavy electronics as T.V's , music systems ETC ). What you think?

I understand. Nowdays gaming is more digital than retail. Thanks for the info.

Awful idea that won't net you any money

Awful idea that won't net you any money

The_Gaming_Baby

Why? I mean it won't net me any money?

No idea how it's like in India, but being realistic is key here. Buy in wholesale and sell in retail, plan your price drops, regular offers, local marketing, etc.

It's not really that hard to compete against bigger businesses in games, they always strike me as clunky and high-priced with crap load of staunchly policies.

The only thing that would proof to be a burden is if they have a monopoly on your area.

Buy in wholesale and sell in retail, plan your price drops, regular offers, local marketing, etc. Victorious_Fize

Very good suggesstion.

[QUOTE="Victorious_Fize"] Buy in wholesale and sell in retail, plan your price drops, regular offers, local marketing, etc. indzman

Very good suggesstion.

I suggest you observe your (local) target customer base and the competition (big chains, local piracy, preexisting small shops and online models). See what advantages you can have over the competition that the target customer will buy into. If you can do something new that they aren't doing and won't copy easily (including pricing options) then you can establish yourself with the customers. After that, your business will also have to be flexible enough to adapt to whatever changes may come (example: possible dominance of digital distribution in a few years).bjvill

Thats what i was also thinking. Do a survey , take notice of how much consumers are aware and are into retail video gaming.PLUS how much they are getting discount from rest shops in the area.

Its wise to flow with current demand as you said.

it won't and you may get a chance of selling illegal CDs.it's never be easy,Smashbrossive50

[QUOTE="indzman"]

[QUOTE="Victorious_Fize"] Buy in wholesale and sell in retail, plan your price drops, regular offers, local marketing, etc. Victorious_Fize

Very good suggesstion.

In here we don't've large video game chains , but got large to individual music stores selling video games. That dosen't mean large stores won't come in future. Its best to take all things in consideration before starting video game buisness. I guess its wise to sell other things as well as video games ( music , movies , electronics , gadgets ) ETC. So if video games dosen't sell well , another item 'll sell.

[QUOTE="Smashbrossive50"]it won't and you may get a chance of selling illegal CDs.it's never be easy,Victorious_Fize

Retail stores in general are a pretty low margin industry. You would need large volume or low costs (or good cost management). I can't vouch for video game stores in particular, but I do know that they are also at increasing risk of becoming obsolete or somewhat irrelevant (downloadable content, for instance).

It might also factor where you live. Large chains are dominant where I live (NYC metropolitan area), and the electronic retail industry over here is going through really tough times and consolidation.

[QUOTE="Victorious_Fize"][QUOTE="indzman"]

Very good suggesstion.

indzman

In here we don't've large video game chains , but got large to individual music stores selling video games. That dosen't mean large stores won't come in future. Its best to take all things in consideration before starting video game buisness. I guess its wise to sell other things as well as video games ( music , movies , electronics , gadgets ) ETC. So if video games dosen't sell well , another item 'll sell.

If you have enough capital to invest in more than one field, go for it. Just remember, don't make the shop filled with wholesale junk from everywhere. These businesses are everywhere. Try to make your investment professional and concise. Nothing beats a smooth, sleek, pragmatic, non-barter nonsense store with great services.

Not having a chainstore is a huuuge plus you know, you'll practically dominate if you do it right.

If you want to do it go ahead but you REALLY need to do your homework on game sales else you would of known game sales are down and you would realize online stores like amazon are bigger.

And old game stores are not going to be big and nor is selling cd's

In the 90s/early 00's this woulda been good but now we are just warning you its not the best

But if you want to do it like I said, go for it.

We have a local store around my area that specializes in video games and movies but what makes them shine is the ability to act as a broker and find those really hard to obtain titles. I've seen some games especially like Sega Saturn games go for a few hundred bucks in their stores and people buy them. I go there to get all my Game Gear, Saturn and Dreamcast games.

When I used to live in Ann Arbor, Michigan we had a vintage game store/comic store/table top game store and that place was busy all the time and I found a lot of Dreamcast goods there as well and they even sold some newer titles but was pretty limited on them. Mainly just the big names and at that time it was Mario Kart on the Wii.

We have a local store around my area that specializes in video games and movies but what makes them shine is the ability to act as a broker and find those really hard to obtain titles.

xXDrPainXx

this is where a local buisness could really make a profit from, there's always a demand of older and imported games that people would gladly buy provided that a store sign shows this service and really attract customers instead of wondering window shoppers who looks for older games.

also its all about location that matters.

No, it isnt and its only going to get worse for retailers.

Of course you can. Buy what sells. If you order nothing but COD or the latest FPS just before it's release date you know it's going to sell. It all comes down to supply and demand. In other words order what people want and you'll be fine.

If Best Buy is closing stores because they can't compete with Amazon, why do you think you can?

If Best Buy is closing stores because they can't compete with Amazon, why do you think you can?

superfluidity