Dang, Scott. With an ROI margin that thin, this is obviously a labor of love. That's awesome, man. This old man hopes he too can find something to do in life like this that is fueled with passion. Money's been tight lately (surgery) but I definitely plan on purchasing from you again soon. My first and only purchase so far was great and it's safe to say you know what you're doing and you do it well. I wish you much success with the business. You're definitely on the right path, bro.
Thanks! Pokemon is a luxury, so always put your heath and finances first, I'm sure you know. Hope all has gone well with your surgery and you're on your way to full recovery! Get recovered and get out there and find your passion, I wish you all the luck!
What a wonderful video. Your shop is truly a labor of love and there are lots of lessons to be learned. Margins are thin. And you’ve done a great job letting us peak behind the scenes. I hope you can tuck away a case or three of each sealed product to sell a few years down the road. Those out of print items can be sold above MSRP guilt free. Every seller has to find their niche. Instead of selling online, I prefer local events and meeting my customers in person for real time buying, selling, and trading. It’s a joy to share the hobby with trainers of all ages. Inspire on!
Thanks! I think some things might get naturally tucked away cause people don't buy them, but when I think about doing it on purpose, lets say like case of booster boxes, I just think that's $600 tied up for potentially years, that I could be using to make even 10% profit right now and doing that over and over. Maybe if I build up enough cash for inventory and things mostly move quickly, I may tuck away a case here and there in the future. I also enjoy selling in person, but fret about the cost for tables, and the time commitments, and my attempt at doing that with sealed products didn't go great. Still though, I do hope to do more shows in the future.
@@PokemonFamClub I understand. I rarely tuck cases away, unless it's something I think will be worth it in the future. And even then, it's a question of doing this as a shop owner versus making a personal investment decision so it's not on the store books. Selling at local events - like the LA Comic-con - we had a booth over the weekend, is both a huge time commitment and expensive. You have to sell a lot of product to make up for the cost of the booth and the cost of the product. Versus having a table at a local event on the weekend. I enjoy the smaller shows and know what type of merchandise my customers want to buy. Like you, I want to give them the best deals. Our customers often want specific singles and to trade for items. For example, I'll work with the kids so they can "pay" for items with cards. And yet, I also like to have a parent present, so everyone knows what a card is worth. As collectors, we have to protect each other and not everyone knows they are sitting on a $100 card. They just know it's the one other vendors are trying to get out of their trade books for pennies on the dollar. We also have a rule that if someone trades in a card, we put it to the side and don't sell it that day. Just in case they have "seller's regret". We ask them, "If you wake up tomorrow and that card is not in your binder, will you be sad?" If they answer, "Yes!", then we strongly encourage them not to trade that card. It's fantastic how many of them have hidden gems tucked away that we can recommend they keep and store safely. And always exciting to hear the stories of how/when/where they "pulled" a specific card. And this is for all ages. Sharing the joy of the hobby is priceless. With your personality, binders of singles, sealed and graded products on hand, you'll do great at those local events. To your continued success!
Considering all the time and effort you put in with all this, it’s not the best ROI. You are doing this for us. I appreciate all you do here. It can only go up from here!!
Love the transparency. Also it’s super unique and interesting content, for any looking to jump into business like this! Your prices are great and I’ll be ordering soon 🎉
Your website looks as good as any I use. I believe that you reap what you sow and you give off only good vibes. I hope it all comes back to you in the end. Keep up the hard work.
Hope the volume of your store increases so that you can keep some popular stock for the future for the channel or at least to compensate for the stock you have to buy that’s hard to shift. Need the right people like you to stay in business!
Thanks! I'm sure these mabostiff and palafin boxes will be around for years to come, lol! I'm not too worried about having stuff stick around, I feel slimy ever charging over msrp, even if its 10 years old, I'd rather sell it all now and keep increasing my purchasing power in the sets to come.
I’d be interested in knowing (even if just a loose approximation) of what your “hourly pay” worked out to for your profit margins as well! I know enough to understand that you absolutely have invested some time & labor [Read: Lifting/Moving] into this venture of yours; but I also know that it’s likely not soul sucking, at least with your current volume and more importantly, if you have your processes streamlined well and are “working smart” as the old adage goes, haha. I appreciate you for this honest and insightful video, good luck to you!
If we're just talking how much time I spend just on processing my incoming inventory and boxing up orders, its not a lot. I've bought 25 orders from the distro, maybe 30 minutes tops to bring in the boxes each time, unpack and clean up; and with only around 100 sales this year on the site and another 150 on ebay, maybe I spend 10-15 minutes an order (sometimes I agonize over the best packing and trying to minimize shipping cost)... But lets say like 50 hours for the sales.. If that's right and we say I've spent 70 hours to make 2000, that doesn't sound too shabby. I've also spent a lot of time on the web site, making adjustments, loading in new products and stuff too , and the only reason I have any sales at all is because of TH-cam, and I spend many many hours on that. In the end, my time spent really only factors into whether or not this is all worth it, and because I'm happy doing it, I try not to think about it. ❤️🙏
I part time at a small card shop and employees get product for distributer prices. Even with with the discount, it's still sometimes cheaper to still buy from the larger onine card shops, especially during sales. Being a small card shop is really rough.
Certain products like booster boxes I can really see that. I don't know how the big shops sell it for like $95 or less with free shipping.. I pay 95 myself, and shipping can easily be 10-20 bucks depending on the order and state its going to. I guess with their buying power they're getting them for less, and/or just taking the L on 1 product to take lots of wins on other products. What state is your shop in?
You'd think running one out of your house would be low risk, but with the amount I have to "invest" in inventory, there is definitively a inherent risk because I could get stuck with a lot of product that's hard to move at a profit. I have faith that everything will sell eventually... 🙏
Your prices look good, TH-cam's algorithm put you on top of recommended videos. I checked you out, your shop. Looks very nice, easy to move around and the prices seem very fair. I would say 9/10 on prices which is really nice for buyers! Hope the best of luck, and am planning on ordering a case (4) of the new charizard ex super-premium collection. Would those be 4 in a sealed case? I would want to order 1 sealed case, plus one extra to open.
Thanks, I try to match or beat all the big guys; the only thing I just can't do it on is booster boxes, they have to be getting a better deal then me. With the free shipping at $150 it's often knocking $20 off people's orders because I get a lot of West Coast and Hawaii orders, which is a big reason why I am only making around 7% ROI. The new Charizard ex Super-Premium Collection does come 4 to a case, yes.
Nice video fam! 100th LIKE! Always wanted to own a card shop seems like you need a lot of inventory to run a good shop but comes down to knowing what you got in terms of clientele!!!! #Buildproduct
7% is a lot better than putting it on a CD :) But I bet this is a lot more fun than just buying a CD at the bank. Keep it up - you will do better as you scale.
On your site, everything says “SALE” with a large price that is slashed out and a smaller price under it. That looks tacky and scammy. We all know what a good price is and what a good price isn’t. You don’t have to put everything “on sale” for us to know that you’re giving a good deal. Your prices are very fair and that’s what counts. I’ve owned many stores before so figured I’d just share this with you. Take it or leave it, keep up the good work!
Sales Tax or Income Tax? If I sell out of state, then I don't pay any taxes on that transaction. If I sell in state, then I have to pay taxes on the profit quarterly. Every 3 months I have to file with the local government and pay those taxes. I hardly make any sales in state, so its not been much of an issue. If I did, then I would have to set aside for that. As for income tax, yes, profits from the business are taxed by the federal government. I hardly make any profit, so its not been much of an issue. 😊 Those profits are taxed at my normal income tax rate, so if say my normal income tax rate is 20%, then for every 100 bucks I make in profit, I should set aside $20 for that. It's important to keep track of every single thing you buy for your business, because its all a write off too. Shipping supplies, gas you spend driving to the post office or ups, advertising, etc.
I am not too interested in sealed investing, I like ripping some packs and buying singles, lately buying singles and flipping has been a good way to make money, do you suggest that as a route for small income?
Dang, Scott. With an ROI margin that thin, this is obviously a labor of love. That's awesome, man. This old man hopes he too can find something to do in life like this that is fueled with passion.
Money's been tight lately (surgery) but I definitely plan on purchasing from you again soon. My first and only purchase so far was great and it's safe to say you know what you're doing and you do it well.
I wish you much success with the business. You're definitely on the right path, bro.
Thanks! Pokemon is a luxury, so always put your heath and finances first, I'm sure you know. Hope all has gone well with your surgery and you're on your way to full recovery! Get recovered and get out there and find your passion, I wish you all the luck!
@@PokemonFamClubMahalo Scott! That means a lot. So far everything is going okay. Just need to adjust to a few things.
Thanks for being genuine and always bringing us the best deals
What a wonderful video. Your shop is truly a labor of love and there are lots of lessons to be learned. Margins are thin. And you’ve done a great job letting us peak behind the scenes.
I hope you can tuck away a case or three of each sealed product to sell a few years down the road. Those out of print items can be sold above MSRP guilt free.
Every seller has to find their niche. Instead of selling online, I prefer local events and meeting my customers in person for real time buying, selling, and trading. It’s a joy to share the hobby with trainers of all ages.
Inspire on!
Thanks! I think some things might get naturally tucked away cause people don't buy them, but when I think about doing it on purpose, lets say like case of booster boxes, I just think that's $600 tied up for potentially years, that I could be using to make even 10% profit right now and doing that over and over. Maybe if I build up enough cash for inventory and things mostly move quickly, I may tuck away a case here and there in the future.
I also enjoy selling in person, but fret about the cost for tables, and the time commitments, and my attempt at doing that with sealed products didn't go great. Still though, I do hope to do more shows in the future.
@@PokemonFamClub I understand. I rarely tuck cases away, unless it's something I think will be worth it in the future. And even then, it's a question of doing this as a shop owner versus making a personal investment decision so it's not on the store books.
Selling at local events - like the LA Comic-con - we had a booth over the weekend, is both a huge time commitment and expensive. You have to sell a lot of product to make up for the cost of the booth and the cost of the product. Versus having a table at a local event on the weekend. I enjoy the smaller shows and know what type of merchandise my customers want to buy. Like you, I want to give them the best deals.
Our customers often want specific singles and to trade for items. For example, I'll work with the kids so they can "pay" for items with cards. And yet, I also like to have a parent present, so everyone knows what a card is worth. As collectors, we have to protect each other and not everyone knows they are sitting on a $100 card. They just know it's the one other vendors are trying to get out of their trade books for pennies on the dollar.
We also have a rule that if someone trades in a card, we put it to the side and don't sell it that day. Just in case they have "seller's regret". We ask them, "If you wake up tomorrow and that card is not in your binder, will you be sad?" If they answer, "Yes!", then we strongly encourage them not to trade that card.
It's fantastic how many of them have hidden gems tucked away that we can recommend they keep and store safely. And always exciting to hear the stories of how/when/where they "pulled" a specific card. And this is for all ages. Sharing the joy of the hobby is priceless.
With your personality, binders of singles, sealed and graded products on hand, you'll do great at those local events.
To your continued success!
Considering all the time and effort you put in with all this, it’s not the best ROI. You are doing this for us. I appreciate all you do here. It can only go up from here!!
Ya, it's not, but it can be a fun break from the norm and I'd probably just be watching movies or playing video games anyway, lol. Thanks!
Love the transparency. Also it’s super unique and interesting content, for any looking to jump into business like this! Your prices are great and I’ll be ordering soon 🎉
Thanks, appreciate it so much! I have a lot to learn myself, but sharing what I'm learning along the way.
Your website looks as good as any I use. I believe that you reap what you sow and you give off only good vibes. I hope it all comes back to you in the end. Keep up the hard work.
I appreciate that!
Congrats on your channel and your business. Keep up the good work!
Thanks, much appreciated! 🙏
Hope the volume of your store increases so that you can keep some popular stock for the future for the channel or at least to compensate for the stock you have to buy that’s hard to shift. Need the right people like you to stay in business!
Thanks! I'm sure these mabostiff and palafin boxes will be around for years to come, lol! I'm not too worried about having stuff stick around, I feel slimy ever charging over msrp, even if its 10 years old, I'd rather sell it all now and keep increasing my purchasing power in the sets to come.
This was a very informative video. Love your transparency and wish you the best of luck on your business.
Thank you so much! 🙏
I’d be interested in knowing (even if just a loose approximation) of what your “hourly pay” worked out to for your profit margins as well!
I know enough to understand that you absolutely have invested some time & labor [Read: Lifting/Moving] into this venture of yours; but I also know that it’s likely not soul sucking, at least with your current volume and more importantly, if you have your processes streamlined well and are “working smart” as the old adage goes, haha.
I appreciate you for this honest and insightful video, good luck to you!
If we're just talking how much time I spend just on processing my incoming inventory and boxing up orders, its not a lot. I've bought 25 orders from the distro, maybe 30 minutes tops to bring in the boxes each time, unpack and clean up; and with only around 100 sales this year on the site and another 150 on ebay, maybe I spend 10-15 minutes an order (sometimes I agonize over the best packing and trying to minimize shipping cost)... But lets say like 50 hours for the sales.. If that's right and we say I've spent 70 hours to make 2000, that doesn't sound too shabby. I've also spent a lot of time on the web site, making adjustments, loading in new products and stuff too , and the only reason I have any sales at all is because of TH-cam, and I spend many many hours on that. In the end, my time spent really only factors into whether or not this is all worth it, and because I'm happy doing it, I try not to think about it. ❤️🙏
Love the transparency brother! It can't be easy to start up a business with such slim margins. 💔 I'll check your store out!
I part time at a small card shop and employees get product for distributer prices. Even with with the discount, it's still sometimes cheaper to still buy from the larger onine card shops, especially during sales. Being a small card shop is really rough.
Certain products like booster boxes I can really see that. I don't know how the big shops sell it for like $95 or less with free shipping.. I pay 95 myself, and shipping can easily be 10-20 bucks depending on the order and state its going to. I guess with their buying power they're getting them for less, and/or just taking the L on 1 product to take lots of wins on other products. What state is your shop in?
I respect all the time and effort you put into your content creation and your business. Wish you the best for caring about the community
I think it is brave to start a business
You'd think running one out of your house would be low risk, but with the amount I have to "invest" in inventory, there is definitively a inherent risk because I could get stuck with a lot of product that's hard to move at a profit. I have faith that everything will sell eventually... 🙏
Your prices look good, TH-cam's algorithm put you on top of recommended videos. I checked you out, your shop. Looks very nice, easy to move around and the prices seem very fair. I would say 9/10 on prices which is really nice for buyers! Hope the best of luck, and am planning on ordering a case (4) of the new charizard ex super-premium collection. Would those be 4 in a sealed case? I would want to order 1 sealed case, plus one extra to open.
Thanks, I try to match or beat all the big guys; the only thing I just can't do it on is booster boxes, they have to be getting a better deal then me. With the free shipping at $150 it's often knocking $20 off people's orders because I get a lot of West Coast and Hawaii orders, which is a big reason why I am only making around 7% ROI. The new Charizard ex Super-Premium Collection does come 4 to a case, yes.
Scott is great!! 🙂👍 Looking forward to more Scott! 🥰🙂👍
Youre going to be great, keep grinding. Greetings from México.
Nice video fam! 100th LIKE! Always wanted to own a card shop seems like you need a lot of inventory to run a good shop but comes down to knowing what you got in terms of clientele!!!! #Buildproduct
Also folks don’t consider on ad fees to help boost sales.
7% is a lot better than putting it on a CD :) But I bet this is a lot more fun than just buying a CD at the bank. Keep it up - you will do better as you scale.
On your site, everything says “SALE” with a large price that is slashed out and a smaller price under it. That looks tacky and scammy. We all know what a good price is and what a good price isn’t. You don’t have to put everything “on sale” for us to know that you’re giving a good deal. Your prices are very fair and that’s what counts.
I’ve owned many stores before so figured I’d just share this with you. Take it or leave it, keep up the good work!
Thanks, I appreciate the feedback, I think it's a good idea i can remove the msrp prices that are slashed out.
What about setting money aside for the tax bill? Thanks for all the info, love the videos!
Sales Tax or Income Tax? If I sell out of state, then I don't pay any taxes on that transaction. If I sell in state, then I have to pay taxes on the profit quarterly. Every 3 months I have to file with the local government and pay those taxes. I hardly make any sales in state, so its not been much of an issue. If I did, then I would have to set aside for that. As for income tax, yes, profits from the business are taxed by the federal government. I hardly make any profit, so its not been much of an issue. 😊 Those profits are taxed at my normal income tax rate, so if say my normal income tax rate is 20%, then for every 100 bucks I make in profit, I should set aside $20 for that. It's important to keep track of every single thing you buy for your business, because its all a write off too. Shipping supplies, gas you spend driving to the post office or ups, advertising, etc.
I wanna see Danny Phantump show this spreadsheet for his business now
After shipping and fees from feebay, feeplayer, etc, lucky to make 5%-12%margin not including taxes...😂
Yeah it’s hard out there for a Pokémon pimp, I’m thinking of naming my future business “cash only cards” 😅😅😅😂😊
Where did you find your ultra pro vendors?
I am not too interested in sealed investing, I like ripping some packs and buying singles, lately buying singles and flipping has been a good way to make money, do you suggest that as a route for small income?
Any fraud issues so far? Or has the systems protected you? Has it actively done stuff? Things you’ve seen?
I hope you make some money