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Starting a Sports Memorabilia Business

Remembering something means you give importance to it. But you could also earn and treasure things at the same time. Sports memorabilia business is common to sport fanatics and even those who are not really into it.

Learn the ideas that would help you start your own memorabilia store.

Look for Suppliers

In starting a sports collectible business, the biggest problem is looking for a substantial inventory of memorabilia. There are sources you can use. First is anything personal that you have. These personal items can be added to the inventory of your business. Other sources can be found in the online retailers. Look for reputable sellers and prepare to buy large amount of items from these sellers. Ask these sellers if they can give you discounts by purchasing on a regular basis. Look for the list of sports autographing and memorabilia shows where several athletes will sign for autographs all over the country. You can usually find these lists in Beckett magazine. You can also plan on attending these said events because it will be cheaper to get your items signed in person than buying them from other sources that might put mark-up percentage in their prices.

Go Online or Go Traditional

Make up your mind on how you will make your sales in sports memorabilia business. Go online. You may start making your own eBay account or make your own website online store. The good thing about online store is that you can avoid paying rent monthly and you can widen your target market. This is more techie than the traditional. You can also save yourself from high electricity rates and you might want to include the other expenses. If you try the traditional brick and type of store, you might want to choose your location carefully. Looking and finding a good location means a good income for you. You may try opening a store in shopping centers or a strip center. Strip center rent can be cheaper and more affordable for first timers like you. The reason is that they do not have anchor tenant. When we say anchor tenants, they are those who would tend to bring in the biggest number of customers. A traditional type of store gives an advantageous aspect for the store itself since it would stand as advertising for the business.

Benchmark

This is the right way to set your prices. Go through online sites like eBay, Amazon and other related sites to search for sports memorabilia pricing of items which is the same or similar to the items you are selling. Through this, you will have a good baseline for the pricing of your items. Try to monitor the demand of certain items from your customers. If you happen to have a traditional type of store, you can sell your local team memorabilia a bit higher than online retailers.

Authentic or Not?

As much as possible, look for certificate of authenticity for all the items you sell. This will definitely confirm that the person whose signature appears on the item really signed it. It is sometimes a big help if there is a photo that would stand as evidence that the person really signed it for you. Through this, it will add credibility and would have you to increase the price of the item.

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