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$300,000 DISASTER - SELLING A LOCAL GAME STORE
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- เผยแพร่เมื่อ 29 มี.ค. 2024
- This is the Largest UNAPPROVED / UNSPONSORED / UNCONTROLLED Magic The Gathering Channel in the world filled with Greed Monsters, Evil Investors, and ....3.696969% Women
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Rudy's Magic Store
10950-60 San Jose Blvd.
139
Jacksonville, FL 32223
Finance Rudy is why I started watching.
That and the cool Haircuts
Same
BRING US THE OLD STOCK BROKER STORIES!
I made it to the end of the video, and want the old Finance Rudy stories too.
F yeah!
YES PLEASE!
Bring us some wolf of Rudy stock broker videos!
They don't exist.
As someone who made it to the end of the video, I can say that I miss the old Rudy the Creepy Financial Advisor videos. I also like the old stockbroker stories. I do miss those old videos from when the channel started.
Any juicy ones? I want to go back to the old videos and see these now.
Me too but we will always love rudy
F yeah!
@@jackattackhissnack he has a playlist on the channel with the old ones.
@@jackattackhissnackMy favorite is the Wolf of Magic series
Please bring back the old stock broker videos!!! Love those and always go back to them at least once a year! Lots of good advice and lessons!
F yeah!
My tacos, although still good, not quite as good without the visor videos.
I actually know the store. Mr. K is a friend. Always treated me with respect and dignity as a customer. He honored prices, never cancelled on anyone, always gave the best prices on singles. When he sold the Magic part of the store (which he did because Wizards was basically screwing him at every turn and he was fed up with dealing with them) I was really disappointed, but he seemed a lot happier running everything else (comic books, Warhammer, RPG stuff, basically everything an LGS does except TCGs). However, the new owner of the Magic stuff jacked up all the prices to absurd levels, and so everyone just started going to the other store across town or buying online. I never bought a thing from the new guy (never met him either, afaik he never showed up at the store once). I figured he'd fail, but I never imagined he'd take Mr. K down with him. That just sucks.
Yep. Dude left Mr. K hanging and took off to open another spot a City over. Completely gutted the old spot.
The other dude (let's call him Mr. C) is known to do shady shit like that in the area. I had a feeling when Mr. C took over the magic side of the shop it was gonna end up fucking up somehow.
I wish i could start a store. I'm smart enough to know that it's just not a good idea.
I think I understand. You're saying you want someone to give you brain damage?
Lmao thanks for the chuckle @@joemacallister7561
Start a pub and have the game store as a side project so that way your food and drinks are what carries you then if your customers are into magic they have a place to play but that doesn't mean you have to see 20 people show up for fnm or drafts midweek all they have to do is come in hungry and then see you have a game store....
@zigzag2370
That's actually the way to do it...
Like a nice cozy area off to the side with a fireplace and bookshelves
@@zigzag2370theft is a massive problem in places like that. Youd need to have all inventory locked up or behind the desk.
Please old stories are the best. Always fun to hear about old stock broker times. I still remember you talking about your boss pushing hedge funds and someone exposing that he owned zero of it.
One of your first finance videos six years ago led me down the path of becoming debt free. My wife and I achieved that dream a couple years ago. We may have never made it here without your finance videos! Thank you for all you do.
Hol' up lemme get this straight, the buyer didn't pay for a business acquisition he agreed to and just peaced out while owing $250k yet the original owner didn't take legal action? Some sketchy shit was going on.
I think I might know who this is… and heard at least part of the story from the other side.
But I put out some feelers on that… so yeah. What I write below is before hearing anything.
Iirc part of it was a comment about there not actually being an inventory of what was in the store when the deal was begun.
Like, the buyer had someone come in to inventory the store because prior owner had no inventory count.
But like I said, that might be this, and it was the other side if it is the same deal
… and, adding on before new stuff, recall hearing complaining about lease transfer and building codes also. But yeah, again, things I didn’t really pay attention to while overhearing others.
prob had NOTHING in writing and couldnt afford an attorney. Go try and get an attorney now . i'll wait... unless he has one on retainer doubt he could get anyone to take the case if theres nothing in writnig and small claims prob a waste of time and burn more time and capital. original owner is complete ass clown
give me 500,000 dollar loan. you will never see me ever again. that's what happened
@@JensenHuangTensorEnthusiastI was thinking maybe something like this. some people have stuff they think is “worth a lot of money” but they don’t look after it so the stuff is damaged, worn, mouldy, and smells bad. I think it can happen with some older people (not just old people) their smell and eyesight isn’t good so they’re not trying to be misleading they just can’t see it. on the other side, if the deal didn’t meet expectations, then the other party might have felt they needed to make up the losses by taking everything, rightly or wrongly. they amount of people who get themselves into bad situation because they don’t get or heed professional advise is massive
@@TheSoonyGirlI was talking with someone who said the photo in the thumbnail was the store…. They said probably 150K was fair value for everything.
Dunno about lease.
They also said the owner was actually called Mister-K IRL. So I’ma guess that info is correct.
This is my LGS, while I only went there for comics, i did buy the occasional MTG pack for nostalgia sake. The slow decline after the partial sale was on the wall and tough to watch. But it sounds like Mr K is going to push forward and rebuild. He built a great community in the area, I only hope word can spread fast about it.
Please keep making the finance/ stock broker videos. They are absolute gold , and there isn’t anything else like it on this hellhole of a website.
More wolf of taco stall videos please
the taco wolf of timmy street
Rudy stock mode video please.
We definitely need those stock broker stories Ruudi!
Yes, Rudy.Please make more financial advice videos and history videos
And more videos about buying magic when you worked at red robin
Moral of the story only sell to Rudy for 50 cents on the dollar folks! It’s easy!
Easiest money you’ll ever make! 😂
Wow. Minute 15ish i thought to myself "I want to know more about his wall st career" (I am in the industry) and there you have it!! Would love some finance videos. TY!
I watch on and off every year or so (I’ve been watching you since your TH-cam got hacked or something like 9 years ago? And the professor was talking about it) and I always watch your videos to the end.
The videos that talk about your finance stories and when you use your whiteboard to illustrate stuff is awesome.
YES FINANCE VIDEOS!! Old stock broker stories would be awesome!
Please make more of the old history/finance videos, they're very interesting.
We need those chalkboard finance videos back ASAP.
Bring back the old stories. Those are always great.
Something about the part where the seller claimed to be “bullied” out of the comic book part of the business was the tell to me. This solely lies on the seller’s shoulders.
we needed the pink visor for this one lol
regarding intangibles... how much value does a good contract with a distro carry? An an email list of 10K+ customers? Does that matter at all? I'm not looking to sell my business but I'm curious on opinions here
ALSO - yes, bring the stock stories!
Yeah I'm curious about this as well.
WE WANT MORE WOLF OF MAGIC
I really can't believe anyone would open a game store in 2024. That's crazy.
There are always tons of people that always will think "oh that won't happen to me!" This goes for really everything and not exclusive to opening a LGS.
Also some are so passionate about the hobby and if they have worked for a long time to live their dream I get it.
It's the folks that don't know anything about the hobby and risk levels that just here oh so n so booster box was $100 3 years ago and now is $1,000! Man if I get it for cheaper from a distributor I'll be rich this is just easy money how come everyone isn't opening a lgs what idiots that fail.
I know a couple stores that have opened in the past 2-3 years that both will probably make it as they are really passionate and have quickly built a loyal following and also some that just had disposable income and able to get loans that saw a LGS as an easy way to make some passive income or something and didn't do nearly enough research into how up and down the hobby can be and the risks. For every One-piece box or MtG Fallout there are like 10-20 products that you could struggle to sell
I remember one old story about how you worked at a firm and a coworker pulled up your CEO's account and it had a bunch of munis instead of the mutual funds you guys were taught to sell
As someone who has watched since the first few years. Never did I ever put together that Florida has no basements. I cackled when I realized for this long I didn't get that joke. Thanks taco king
Heck yeah to old stock stories. Indirectly through magic and your occasional finance videos, they helped me get into investing and bringing that into the classroom... I'm grateful. More stories sounds awesome
Finally an old style and interesting Rudy's video, good work mate.
Love the old finance/Stock broker stories. it helps to break up the videos
Old Rudy stock videos are the best!
Finance Rudy videos were absolutely awasome! Please bring them back
I’d love to hear more old Rudy-TheStockbroker stories.
Hello! What do you guys think of AVATAR TCG of weiss scharwz from an investing standpoint? It is still really cheap, hasnt seen a lot of hype. But looks like sales are getting higher lately. Maybe when more seasons release this game can catch a little pump.
The new buyer almost sounds like he intentionally did that to financially cripple the other guy.
I am currently selling the Brooklyn Bridge......
Damn Rudy.... I can't believe it.........
There are seriously no Basements in Florida? Like NONE?
Yes! Cannot wait for old broker Rudy stories and more finance video,alwais happy to learn more thanks to you Rudy!
Feel sorry for the guy involved in this story,hope he can recover
Opening a LGS is alwais a fun idea in a simpler world that would be a fantastic and fun job,sadly the more you think well about and ecerything tie to it the more you realize it is not worth it and that is just sad,i wish i could open one myself
Happy Easter everyone!! Much love
A few people in my small little town decided to start up a card shop I gave it 4 months they were gone 60 days revenge of the card shop life
Damn.
The only way to run a profitable LGS is to incorporate memberships, food and drink sales (alcohol if possible) and an online store for browsing.
I LOVE your old-school videos of The Rudy Taco Boss of Wall Street!
Great unbiased and logical analysis of the situation! Break out the visor and white board!
I 100% want to see Story Time with Broker Rudy!
the 1st minute sums up owning a LGS. You'll be broke and live poor. Waste of time.
The only successful LGS' I've ever seen, having been to hundreds across the US, are the ones that are either A) in a premium location with a ton of local support (i.e.: large city, huge population of buyers); or B) The owner(s) make their money elsewhere and the LGS is more of a passion project but they have great staff keeping it busy all the time.
Otherwise, they are always hanging by a thread seemingly.
Live in the store to save money
@MxSpikeSpiegelxM Good way to get tickets for violating zoning restrictions unless it's a mix-use zone and/or have your insurance company raise rates due to creating a higher risk profile. A store burning down at 3 am with no one in it compared to burning down with someone in it, are not the same risk for the insurance company so they'll 100% raise rates if discovered even happening one time.
Earth is a triangle now
Gamestores fail when they try to focus on only magic and pokemon and expect that people will just show up :) marketing is key. People dont want to put the work in.
DO IT!! Old Rudy and the Washing Machine Step-Brokerage 17:28
old stockbroker video´s were amazing, same holds true for the cardshop life, and the rental property video´s.
keep up the good work
Mr. K should contact a lawyer. An oral agreement can still be a binding contract. Mr. K may have remedies available based on the terms of the agreement
Yes, please bring back the finance videos! They are sorely missed.
I haven't watch you in almost a year and your back round really hasn't changed sweet 😅😂
Og Rudy stockbroker videos!
"There's a sucker born every minute." P.T. Barnum, supposedly.
If you take out "is", you have a haiku
Due diligence is a big key to success!
9:30 that’s absolutely true. It’s funny how that principal applies to a lot of other things in life. The richest people you’ll run into typically don’t look the part at all. The smartest people I’ve known have been humble and pretty much never argue with anyone. Time and time again, the real deal doesn’t typically feel the need to brag or show off.
Desperate to sell, lowered his guard, got screwed.
Rudy nailed it. When i started in private wealth managment i was so intimidated by these clients amount of wealth.i dont come from generational money like most in that industry. I couldnt even comprehend ever having that type of money. Once i started meeting the clients though... you would have never guessed they had money. Most are so down to earth and not flashy at all. Once you hit that level of true wealth you just dont care and have nothing to prove to anyone.
very into old stock broker videos! i enjoyed this content
The alien fortresses under the ice 😂❤
More finance/business talk please ❤
I am opening store #4 this summer.
We sell cardboard and plastic.
Cards, collectibles, popculture.
This store is 8,200 sq ft.
About $1.4 mil in buildout/merch is projected
to get it open.
100k only in merch is guaranteed you will never
earn enough to pay the rent.
Rudy doesn't live in a basement, he lives in the attic, Basement's younger cousin.
He just said he lived in the basement so you would know what he's talking about afraid you hadn't heard of the attic.
The content and the timing of this video' release is eerily close to an incident that happened at the LGS near me. The "new guy is opening a new lgs on the other side of town" though without more info i can't verify if it's the same place.
Sometimes Rudy‘s channel reminds me of that show car talk they used to have on NPR with click and clack, and they do auto mechanics advice over the radio, except with Rudy, giving advice over TH-cam about card, shops and investing. Cheers
This sounds suspiciously like what happened to one of the local stores in my area... Combo comic/card shop that was going to close, then got "bought out" a while back, and is now closed for real but they are "continuing online" and "looking for a new retail space". Hmm..
Sounds Like a card shop around me too lol CCG2?
Sounds like one near me in OKC, OK
We want the finance stories. Finance and collectibles go hand in hand.
Bring back the old stock broker stories 🎉
I have played a few time but never owned a Magic Card. I was hooked and stayed for Finance Rudy.
Comment at the end, love this advise on owning LGS’s, I’ve seen a few collapse.
Love the advise, but green screen? Are you moving?
Rudy is a good man. Listen to this man.
Definitely interested in finance Rudy stories!
yes on the stockbroker Rudy sessions!!
Mr K saw a deal too good to be true and it was. $300k for an LGS business and you keep half the assets is a fake offer. The buyer probably knew that if the monthly gross wasn’t covering the expenses, he would back out of the deal
Thumbs up for the finance videos
Rudy: Earth is a triangle now... I spit my drink lol
The only cards I'm investing into from here on out is Divorced Dads: Court of Chaos.
An LGS owner once offered to sell me 10% ownership of his store. I eventually declined, but decided to give it to him as a personal loan instead. Long story short, even that went sideways and the store went belly up.
what is even more likely to go wrong than opening your own store? lending some other idiot money so they can have a fail store. have fun trying to get ur money back in that case.
YES! Please make videos on Finance and better ways to accomplish this investment and selling process.
How to open a successful LGS in most parts of the country
Step 1 Be rich
Step 2 not care about losing money because this is monopoly land and this just fun time
Vintage box openings is why I watch- nothing post 2010 I want late 90s and early 2000s only please!
Weird, its almost like there is a reason people and banks and companies draw up LEGAL CONTRACTS IN WRITING when 100s of thousands of dollars is supposed to change hands. "Backroom hand shake" - such a rookie mistake. if your making a 300k transaction , somehow u can't find the 1 or 2 grand to get some legal advice and a contract drawn up? for like less than 0.5% of your overall transaction amount you can at least try to protect yourself a little bit.
Rudy please make a Patreon for business advice! I would pay you for a zoom call to just get your thoughts on how I can run things better and prepare for the unexpected
Head back to the old wolf of magic man! I’ve been watching since 2017 and love old videos
Please bring the old stock storys. 😊
Been a fan of the channel since like 4k subs. I’d love to hear more Wall Street stories and even crazier magic stories
Rudy, you need a Masters of the Universe action figure on your shelf behind you. I’ll send you one!!!
Bring finance Rudy back! I realize that's why I really started paying attention vs general magic stuff.
I want Stock broker stories! I always wondered why you speak so clear on value, money plays and investment style collecting. Keep em coming brother
I love Longer Formats of 40 minutes to 2 hours about Finance, Investing, and the Market!
There's an easy solution to this high risk cardboard business model. Diversify into collectibles like Funko Pops, and the money will absolutely pour in!😜
Seriously? No basement? You got windows and daylight like a human being!? I feel bamboozled
Dude, we need the taco eating, red visor Rudy back. I enjoy those videos.
Inventory will have variation. If there were ONLY 100,000 1$ cards sure, but realistically Rudy only devalues the non-vintage, non high dollar stuff because that’s what he has had success with.
It’s also a different KIND of risk. You can go all-in with a single box of AN, but if that market tanks, you’re looking at a HUGE hit to your “value”. Vs a diversified collection of 100k, where it’s unlikely it would ALL crash at once (albeit possible).
Rudy is at a wildly different stage than someone buying a 300k “store”
Imagine selling 108 packs of English legends as your “inventory”. You’d probably sell through eventually, but it’s a VERY specific buyer.
Your inventory would be tied up in literally 3 boxes.
But if you had 100k in stuff ranging from 1-500$, you could at least TRY to build a business.
Three boxes of legends, while cool and all, wouldn’t be a business. It might be more profitable in the end, but the risk is exponentially greater and it’s not going to attract any real customer base, especially once it’s gone.
LGS’s are terrible businesses, but not because of choosing low value inventory. We aren’t talking about thousands of vintage boxes. 300k would get you what? 9. That’s not “inventory”, it’s a flip.
What was the point of this rant? You just come off as a patronizing ass
Sold my store in 99 7k, people failed because she bad mouthed me, over 500k I gave in inventory and she failed
I haven't been here since the start, by a long shot, but I do like the old creepy financial advisor rudy videos, I'd love more of those please!
I am here for Finance Rudy, I miss the green cap
That thumbnail was very appropriate for a story like that.
I've watched the cruise ship bond video at least a couple of times. I'm down for a remake... As long as you bring the visor!!!