Starting a Game Store
If you want to start a game store, you will need to begin with a detailed plan. This will cover startup issues, marketing, financials, and management. Purchase the needed store fixtures and to save money, you can settle with the used ones.
You will also need to get licenses and an employer identification number.
If you love playing games, you can generate income by starting your own game store. To ensure success, you must begin with a plan. This will cover many aspects like startup, marketing, management, and financials. Find a great location for the store, since this particular area can make or break the business. Experts even claim that it’s better to open a business when you’ve picked a location. You can lease out the space to cut down the initial cost of startup, and you can use the saved money to purchase store fixtures.
How to Start a Game Store?
For a game store, you will need high quality fixtures. You can use the internet to look for the needed equipment. Since you’re starting out, you can opt for used fixtures like shelving, shopping baskets, merchandise bags, store signage, stickers, price guns, and many others. This can save you some money that you can use in addressing other aspects of the business. You will need to visit the Secretary of State to find out the licensing requirements. You must apply and submit the necessary documents to operate a legit business. Starting out from scratch can be overwhelming and so there is another option for you – franchising. This will provide the needed marketing support although the franchisee will have a bit control when it comes to the operation.
You have to focus on a certain niche since you will be competing with a lot of game stores. To attract customers, your store should provide games of different titles, Wi-Fi feature, and a mini café. If you can create a unique concept, you can earn higher profits. With exceptional knowledge of the industry and great customer service, you can exceed. You will also need to hire game experts and gamers. It would be best if you purchase the games on wholesale and as much as possible, you must hunt for bargains.
To determine the ideal structure for the business, you can seek the help an expert. You can consult with a lawyer and accountant. You will need a DBA license and an EIN. These are very important for tax purposes. A store space can cost $600 to $1,800 a month. Since you’re just starting out, you can settle with 500 sq ft space but as you expand, you can look for a larger space. You must advertise the business prior to opening. You will need to emphasize the store’s great aspects and be sure to give away business cards and fliers. You can also promote the business on local newspaper and magazines.
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