video game store

So I always wanted to open a video game store! Im not interested in selling Retail video games. I just want to sell used video games! any ideas on how much money I need to open a business?

 

Running a store yourself can be very expensive, especially for something low scale. more stores like that are likely to fail rather than succeed.

I'd reccomend saving up at least a couple thousand and then buying games personally.

Use sites like usedxxx,ebay,kijiji and facebook group chats.
Then flip games for profit.

 

Heed my warning: Don't waste your time with this.

 

Ghast said it.

Unless you're rich as heck, it's just going to waste money. Sure, it could at points be fun to do, but used video games are not the best investment for your money. Especially when so many stores that already do this, let alone friends.

 

It's probably not even worth it if you are rich, seeing as games are sold cheaply online nowadays.

 

This, if you're really interested in doing it, just save up money buy a bunch of used games and sell them online. This is the only way it might be profitable. Even then the margins would be low if anything.

 

More and more video game shops are online-based these days. Maybe years ago you would have had a fair chance at that, but these days you're gonna be up against stiff competition from the online shops along with expenses on running the shop.

 

The profit margin in old used games is so rubbish dude.

 

You could do something a little different. Rent out a little space, set up some consoles and rent time playing all day in a populated place. A mall for example or inside a restaurant.

 

I remember those places being popular in my country 5 -8 years ago, however nowadays almost everyone has pc/console to play games on.I dont think it would succeed.Unless you have some kind of catch, which i cant think of.

 

If this is a side project for fun you're willing to sink a couple hundred grand into with no monetary reward, sure. If you're looking for this to be a profitable venture, definitely not.

 

If you want to run a successful store of sorts, find a need that is required in your area and fill it. To pull off something that is so niche and specific, to get anywhere at all you're going to want to find a prime spot in a very busy metropolitan area, you're going to have to find a good source for your stock, and you're going to need to beat or at least be on par with internet prices for your individual items.

That being said, regarding the internet thing, alot of stores stay open because whilst having their physical store, they run an online business, buying/selling/flipping whatever, just to increase their customer base and outreach.

There are instances however, of barcades popping up, where you can go drink beer / cocktails (some i've seen have gaming themes, which is pretty cool) and play old school video games, as sort of a nostalgia trip, and they seem to do rather well.

Whatever floats your boat I suppose.

 

ummo not really succesful buisness but I do suggest you to open a buisness on ebay to sell games.

 

That's actually not true. I did a project back in college on a major games retailer, and they make significantly higher margins on used vs. new games. To the OP, I'd suggest working at a retail store for a little to learn some of their margins.

 

This.

 

dont if you dont want to have a hard time trying to compete with online stores.

 

Don't listen to any of these assholes, their only business experience is likely from selling runescape gold.

They're right when they say you won't make any money off used games alone. However, there's nothing stopping you from merging that idea with some others.

Right now board games + alcohol is a big business. Why not do video games + alcohol?

 

Nowadays everyone is getting their games digitally. You're about 10 years too late bud :'(