Hard to believe anyone would open a game store with the high overheads and low margins for most TCGs. But I'm still glad there are dedicated souls out there who do it!
@4:33 What kind of Computer are you buying for $3000? I can build a PC that will handle inventory management / online stuff for less than $500. One to handle TH-cam video recording and editing - $1500-$1800.
Nice video, spot on! There's so much that goes into that rent number though - website, heating, garbage, water, lights, etc. It would be cool if you did a video on how much up front capital you need and why. You mention that you only need $25k in sales to keep above water, but where is the money for just buying the next set of product and how long does it take you to make enough to get the next product?
25 % profit margin is horrible as far as retail goes. But that’s the industry. One piece is the great equalizer for the LGS as far as new products go. Godbless Bandai for under printing 😂
Thanks for the insights! What do you think of the upcoming Altered TCG and it's new way of trading/ handling physical cards? Will you have it in your store?
As I watched, I thought there might be some holes in the logic, things that showed themselves to be unwise or extraneous. But by the end, it all made sense. Good explanation.
A little Diclaimer, when you make an online offer, you also increase the competition for the customer ! They you can´t increase too, like the ones buying in your shop.this works only for a better, when you make an online shop and others don´t, or else we are back at dividing the cake to MORE users. Lastly the only real way of getting more buisness is when the overall demand is rising ! ( or luckily the producers gives the retailers better marges !)
You either forgot or omitted the fact that LGS rightfully can charge higher prices for singles and sealed product. A 10 cent card on tcgplayer can easily sell for 50 cents in stores.
Late reply but he may be saying he is a worker also. Him and one other work a shift together and rotate. That’s how I count mine when looking at payroll
I make more money doing nothing and selling derivatives with $100k than working 2 full time jobs LOL... LGS is only if you can afford to burn cash and live poor.
How to do a game store. One buy land aka commercial land Step 2 build a plaza to support your store so you pay zero rent. Step 3 if it your hobby make sure you hire a very capable store manager who realizes they cannot be in the hobby. Make sure you have someone who can sell singles, especially if you don't want to or best bet you need to as owner. Same as collection buying. 3. security cameras every where! Folks steal! Unless you plan to do it all which means no hobby it a business!
He and George discussed in a podcast that they're not going to talk about FaB. This is because some employees at Legend Story Studios are unprofessional and want to censor the speech of influencers. This means that an influencer has a choice: speak critically of them and get banned or say what they want and stay unbanned. The third choice is to never talk about them and hope they don't decide to ban you for that too
@@voxnewman that's simply not true I have had 5 calls with LSS directly some after I've voiced concerns on podcasts and never once did they threaten me they wanted genuine feedback.
@@BigBootyJudy40ozBounce well, according to May the Zoo be with you, and also Alpha Investments, they have. I don't think they're making it up. Maybe your tone is better. But caring about tone, is childish. What podcast are you on?
Does this mean that if everyone just decided to be smart and sell their singles online, then the entire business would collapse without some serious innovation?
He is in WV. Just what he said in rent is crazy cheap. I don’t own an LGS, but I pay 11k in rent a month for work, and pay 18-25 an hour. It’s all dependent on where you live and operate.
Shoutout to Apple. They never made good products. Apple products have always been slower and weaker than products offered by any most companies for the same price point. You spent $3K on a computer? I hope you didn't buy another Apple computer, because it will be far less powerful and less reliable than an actual work computer at that price point.
Hard to believe anyone would open a game store with the high overheads and low margins for most TCGs. But I'm still glad there are dedicated souls out there who do it!
Every member from the whole TCG community should watch this video. Amazing work
Thank you friend!
I just love videos like this. Thanks for letting us 9-5 grinders live vicariously through you and dream about doing this too
@4:33 What kind of Computer are you buying for $3000? I can build a PC that will handle inventory management / online stuff for less than $500. One to handle TH-cam video recording and editing - $1500-$1800.
You forgot to say " Now for the low low price of $9.95 you can have access to videos like this and more on how to run a successful LGS."
Love your store! I didn’t realize trade ins were a big deal! Good to know!
Nice video, spot on! There's so much that goes into that rent number though - website, heating, garbage, water, lights, etc. It would be cool if you did a video on how much up front capital you need and why. You mention that you only need $25k in sales to keep above water, but where is the money for just buying the next set of product and how long does it take you to make enough to get the next product?
25 % profit margin is horrible as far as retail goes. But that’s the industry. One piece is the great equalizer for the LGS as far as new products go. Godbless Bandai for under printing 😂
the margin may be big, but if the amount of product is low then the total profit isnt so amazing
25% iS hOrRibLe. Stfu
Thanks for the insights! What do you think of the upcoming Altered TCG and it's new way of trading/ handling physical cards? Will you have it in your store?
This is great advice. I hope your the catalyst for somebody to start up their own store one day
Really good video. Thanks for sharing.
As I watched, I thought there might be some holes in the logic, things that showed themselves to be unwise or extraneous. But by the end, it all made sense. Good explanation.
I really enjoyed Economics 101 from Louie. Very interesting
A little Diclaimer, when you make an online offer, you also increase the competition for the customer ! They you can´t increase too, like the ones buying in your shop.this works only for a better, when you make an online shop and others don´t, or else we are back at dividing the cake to MORE users. Lastly the only real way of getting more buisness is when the overall demand is rising ! ( or luckily the producers gives the retailers better marges !)
You had to pay for HVAC repair as a business lessee? Or do you own the building?
Believe it or not but once you sign a lease on a space, that hvac is often your responsibility to pay for. 😅😅😅
Awesome informative vid!
Great video. Very good information!! 💥💥💥
What if you don't focus on, or even carry, TCGs? Do you think a store with a center somewhere else, can live today?
clip taken out of context: “That’s a lot of murders” 😂
Lmao! Don’t call the police
You either forgot or omitted the fact that LGS rightfully can charge higher prices for singles and sealed product. A 10 cent card on tcgplayer can easily sell for 50 cents in stores.
Rudy whiteboard with a twist.
One should add the hourly wage of the owner in the overhead as wel or it is not profit
Late reply but he may be saying he is a worker also. Him and one other work a shift together and rotate. That’s how I count mine when looking at payroll
I get.... me like... good job Louie
I make more money doing nothing and selling derivatives with $100k than working 2 full time jobs LOL... LGS is only if you can afford to burn cash and live poor.
How to do a game store. One buy land aka commercial land
Step 2 build a plaza to support your store so you pay zero rent.
Step 3 if it your hobby make sure you hire a very capable store manager who realizes they cannot be in the hobby.
Make sure you have someone who can sell singles, especially if you don't want to or best bet you need to as owner. Same as collection buying.
3. security cameras every where! Folks steal! Unless you plan to do it all which means no hobby it a business!
This is my long term dream. Don’t have the capital tho!
Wow showing the bags aren’t we that’s gotta be 85 86 dollars
What is trade ins? People selling their card to the store?
Yep!
Is this guy a new Rudy?
he tries to give us content. like all the other tubers.
Nope I’m just Louie!
Rudy is a grifter. This guy gave real honest information.
@@KitchenTableTCGthe goat
Informative watch. Thanks dude!
1st!
Do more FaB content!
He specd on fab got burnt(his fault) and is butt hurt he won't touch it.
Yep, he doesn't acknowledge fab, which is a good thing since he admits he is biased against them.
He and George discussed in a podcast that they're not going to talk about FaB. This is because some employees at Legend Story Studios are unprofessional and want to censor the speech of influencers. This means that an influencer has a choice: speak critically of them and get banned or say what they want and stay unbanned. The third choice is to never talk about them and hope they don't decide to ban you for that too
@@voxnewman that's simply not true I have had 5 calls with LSS directly some after I've voiced concerns on podcasts and never once did they threaten me they wanted genuine feedback.
@@BigBootyJudy40ozBounce well, according to May the Zoo be with you, and also Alpha Investments, they have.
I don't think they're making it up. Maybe your tone is better. But caring about tone, is childish.
What podcast are you on?
I think we should play guess the bill win the bill! $20?
Super vid.
Does this mean that if everyone just decided to be smart and sell their singles online, then the entire business would collapse without some serious innovation?
Why Pokemon is the opposite of profit? Does anyone know?
Cuz scarlet and violet are poopy.
so awesome
I thought all the profits came from snacks and alcohol sales.
Game store in SoCal when?
don't. I've seen so many go bankrupt even before covid in SD and LA area.
You front the rent for 10 years I’m in
Is this the Louie white board? It needs visor and to be about 50 minutes longer. lol jk.
Agreed 😂😂
$12 an hour?
Not bad WV min wage is 11.00 per hour until it’s raised to 15.00
He is in WV. Just what he said in rent is crazy cheap. I don’t own an LGS, but I pay 11k in rent a month for work, and pay 18-25 an hour. It’s all dependent on where you live and operate.
😂😂😂😂
That’s really good for WV actually
2:45
Or sell One piece
Shoutout to Apple. They never made good products. Apple products have always been slower and weaker than products offered by any most companies for the same price point. You spent $3K on a computer? I hope you didn't buy another Apple computer, because it will be far less powerful and less reliable than an actual work computer at that price point.
finally someone who understands. I hate aapl