NBA BASKETBALL CARD SHOP in PERTH A1 Cards and Gaming * 0400784795 *

Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

It's always a fun idea to do, BUT at the end of the day it boils down to profit. What sort of profits are you making on a single box? Do you have a supplier who can get it for cheap or will you be buying from DACW and then marking it up from there? Just very little profit in it IMO and not enough turnover to make it a good business venture. My advice is, if you haven't already done so, get a pen and paper and start working out how much profit you made from the days that you were at the markets and then find out the rental of a small shop in a suburb that you think will attract customers and see if you can cover this. I think you'll find that you would be better with putting the money in a fixed deposit and watch it grow with no risk.
 
Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

if you only sold nba boxes and supplies, you would have to flog off $1,500 in boxes every day to make $150 in profit per day. then factor in rent, how long you are working for (10 hours @ $15 per hour), insurance, etc. you wouldn't be working 10 hours flat out but wouldn't it be better working a normal job and getting $30 an hour for 8 hours a day?
 
Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

^^^ you heard it straight from the horse's mouth. It really isn't that great a business proposition, and take into consideration that it isn't a risk free proposition, you could end up losing quite a fair bit of money.
 
Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

Good luck with it mate. If i had a card shop local to me i would much rather buy from it than go on ebay, mess around bidding on an auction, mess around further with payment and then wait days for my cards to show up in the mail.

From reading your posts you seem to have limited downside. All you need to do is to get the word out. I hope one day you can expand to Newcastle.

exzibit3 said:
I think you'll find that you would be better with putting the money in a fixed deposit and watch it grow with no risk.
Click to expand...

Im sorry but earn 6% on your money to then give (on average) a third to the tax man while inflation is running at 3%. You will be lucky to pick up a net 1% on your money.

westriot said:
wouldn't it be better working a normal job and getting $30 and hour for 8 hours a day?
Click to expand...

Plenty of people have worked their behinds off for stuff all money to get their businesses started but they are the ones that invariably, people like you and me, end up working for. I give this guy 100/100 for having the nuts to put it on the line and go out and start his own business. If he is smart and sensible about it the sky is the limit.
 
Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

ooneil...fixed term deposits are definitely not the best way to reinvest your money, I could be going on about investing in equities and property but that's not the point. The point is that IMO, this particular type of business has a high chance of being unsuccessful if you haven't done your figures right and you may as well just chuck your money in the bank if you had to choose between this business and a fd. I'm all for people opening their own business and working for themselves and reinvesting their money. I just don't think this is a particularly lucrative one but would be more than happy to be proven wrong. Figures don't lie on a P&L statement (okay accountants do). There's such a small market for this particular type of business, and especially more so if you aren't diversifying and taking an interest in Pokemon or whatever other fad that the kids are into these days. The AUD is strong now and makes for purchasing US goods cheap, but it will not always be this way and all of a sudden, you're selling boxes for 20% more just to get even with the dollar and your profit is still the same but your turnover is falling.
 
Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

westriot said:
if you only sold nba boxes and supplies, you would have to flog off $1,500 in boxes every day to make $150 in profit per day. then factor in rent, how long you are working for (10 hours @ $15 per hour), insurance, etc. you wouldn't be working 10 hours flat out but wouldn't it be better working a normal job and getting $30 and hour for 8 hours a day?
Click to expand...

Spot on! :thumbsup:
 
Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

exzibit3 said:
ooneil...fixed term deposits are definitely not the best way to reinvest your money, I could be going on about investing in equities and property but that's not the point. The point is that IMO, this particular type of business has a high chance of being unsuccessful if you haven't done your figures right and you may as well just chuck your money in the bank if you had to choose between this business and a fd. I'm all for people opening their own business and working for themselves and reinvesting their money. I just don't think this is a particularly lucrative one but would be more than happy to be proven wrong. Figures don't lie on a P&L statement (okay accountants do). There's such a small market for this particular type of business, and especially more so if you aren't diversifying and taking an interest in Pokemon or whatever other fad that the kids are into these days. The AUD is strong now and makes for purchasing US goods cheap, but it will not always be this way and all of a sudden, you're selling boxes for 20% more just to get even with the dollar and your profit is still the same but your turnover is falling.
Click to expand...

There's sooo much more to life than money....

Good job terry, all the best with shop. No more 'workin for the man'! All power to you, wish I had the balls to do it myself.:thumbsup:
 
Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

A_Iverson_I said:
Is it just me or did you just commit a sin & not put NBA in your blog stock list?

"NFL, MLB, NHL, UFC, MMA, Movies/series
Marvel etc"

:lol:
Click to expand...

I will have plenty of NBA but would like some suggestions on what other products to stock :)
 
Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

When I was younger we had a local card shop that was always packed. The attraction was that the owner would take the time to trade with you (always in their favour), but as a kid you never really cared (it was all about getting those sets completed). Once you get people in the store that is when you can start to sell your products. I have gone in to Cardzone in Melbourne a couple of times to just pick up some supplies and ended up buying an overpriced box just cause I wanted to bust something right then!! Regret it everytime. ha ha

Maybe even have a grand opening raffle where people that come in store and spend over a certain amount during the first month will go into a draw for a box of cards (you choose the box - they choose the sport).

Apologies if some of these ideas have been mentioned previously.
 
Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

cjhsv said:
When I was younger we had a local card shop that was always packed. The attraction was that the owner would take the time to trade with you (always in their favour), but as a kid you never really cared (it was all about getting those sets completed). Once you get people in the store that is when you can start to sell your products. I have gone in to Cardzone in Melbourne a couple of times to just pick up some supplies and ended up buying an overpriced box just cause I wanted to bust something right then!! Regret it everytime. ha ha

Maybe even have a grand opening raffle where people that come in store and spend over a certain amount during the first month will go into a draw for a box of cards (you choose the box - they choose the sport).

Apologies if some of these ideas have been mentioned previously.
Click to expand...

Thanks for the kind words and suggestions.
I can def understand the urge to bust when the price was wrong :lol: but in the end its about supporting your local hobby shop also.
Being an active collector I will be doing all kinds of trades but sadly I will be offering my own collection incl PC which will make up my singles stock.
Currently we are planning on a big opening but details are still being organized atm. There will be a decent amount spent on the grand opening with prizes and giveaways being calculated in that promotion ! hopefully I can get a local sports stars to make an appearance depending on what it costs ;)
All will be revealed once my abn and business names are all registered :)
Store name and official grand opening will be posted up in my official thread here on OCT and my own webpage :D
 
Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

a card shop straight up is almost guaranteed to fail.
and don't confuse the nba market online to selling nba in a shop in WA.
if your shop isn't dedicated to afl with nba and non sports as a little on the side then you'll go nowhere.
how close is the newsagent?

most have mentioned diversifying and to get that right you need to fill a hole in that area that will also compliment
trading cards.
internet cafe's don't do well unless your prepared to make a good coffee and have a good setup, but steam and cards don't mix.

tax is not an issue as you need to make a profit first :)
somewhere you mentioned $20,000 of stock? and buying cases? that would be shot in a week.
what if no-one buys what you choose with that 20k?
do you have another 20k for the next week?
yeah the rent will roll in very quickly, the electricity bill and don't forget the $2000 or so bond you need to pay the electricity company for commercial connection.
public liability insurance and stock insurance is another cost, aswell as an accountant.
advertising in papers and online costs too and if the owner is holding it for you then obviously it's not exactly a booming spot.

there's only one way to do it really, that is to buy a shop first.
in smaller towns everywhere there's lots of little abandoned shops with a bit of residential behind it.
i see 'em go for $80,000 - $140,000 generally. that's what you want.
if your renting then you could live in the house behind the shop and save money, or rent that bit out for continuouse cash flow.
owning it you then can't go wrong 'cos even if your biz' takes years to build up, your property is still making money and going up in value too.

finally, everything your imagining in your head about your shop, will be completely different after the first day of bizness.
 
Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

footycard said:
a card shop straight up is almost guaranteed to fail.
and don't confuse the nba market online to selling nba in a shop in WA.
if your shop isn't dedicated to afl with nba and non sports as a little on the side then you'll go nowhere.
how close is the newsagent?

most have mentioned diversifying and to get that right you need to fill a hole in that area that will also compliment
trading cards.
internet cafe's don't do well unless your prepared to make a good coffee and have a good setup, but steam and cards don't mix.

tax is not an issue as you need to make a profit first :)
somewhere you mentioned $20,000 of stock? and buying cases? that would be shot in a week.
what if no-one buys what you choose with that 20k?
do you have another 20k for the next week?
yeah the rent will roll in very quickly, the electricity bill and don't forget the $2000 or so bond you need to pay the electricity company for commercial connection.
public liability insurance and stock insurance is another cost, aswell as an accountant.
advertising in papers and online costs too and if the owner is holding it for you then obviously it's not exactly a booming spot.

there's only one way to do it really, that is to buy a shop first.
in smaller towns everywhere there's lots of little abandoned shops with a bit of residential behind it.
i see 'em go for $80,000 - $140,000 generally. that's what you want.
if your renting then you could live in the house behind the shop and save money, or rent that bit out for continuouse cash flow.
owning it you then can't go wrong 'cos even if your biz' takes years to build up, your property is still making money and going up in value too.

finally, everything your imagining in your head about your shop, will be completely different after the first day of bizness.
Click to expand...

Thanks for the ideas but the idea of buying a building in a country town (drinking is the hobby of choice and not collecting) and set up a hobby shop would have to be one thing I would never consider.
As for the location, anyone who know perth would know how busy Albany highway is so the location is very busy traffic wise with lots of money being spent on local infrastructure ;) It is also accross from the new library, Post office and food joints :)
Newsagents are nothing to worry about because I know most boxes are searched by other collectors which wont be happening at my store. the hits busted will help sell more packs. I also spent a long time set up each week at my local market and NBA had a much bigger market than AFL. One HD has done nothing but help promote the US sports , a bit like free advertising ;)
 
Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

Hi Terry

I personally have thought about doing this for many years and as an accountant done the figures many times over to see if I could make a living from just selling NBA cards. I have to admit that you have a mountain to climb just to breakeven. Of course, the natural course or options of many hobby collectors is to diversfy into other sports such as AFL, MLB, NRL ; or even into non-sports such as movie, cartoon cards; or even into jerseys. I myself really have very little interest in the other sports so to venture into other sports is sort of a turn off for me other than the purpose of generating extra profits to cover my costs. Then all of a sudden, Eureka!!!! I had a brilliant idea, why can't I open something like a Post Office, Newsagency or Internet Cafe where that is the main business and is a self-sustaining as a business by itself. My incremental business is then to sell NBA cards of which will only take up a small space in the store and therefore does not create too much pressure in selling NBA cards for a living. Look, that is just my idea and am happy for you to follow it. Take care and good luck. Cheers Alex
 
Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

I love this idea.. I have often thought of doing it myself......... Running my fingers through all those cards.... Talking to people EVERY day who understands why your heart beats.......

If I was in the right place financially.. I'd do it........ But buying a house for the little ones has taken over in the heart beats department......
 
Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

^^ I think everybody loves this idea, however most are probably wondering if it's financially viable... which seems touch and go
 
Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

Its worth a go mate. Worst case scenario, you end up selling most of the stock on ebay. Probably still make a profit. Just get in as much stock as possible to get a good price and minimise shipping costs. Put stale stock on ebay to keep dollars coming in.

Selling packs is a must. Nobody buys packs on ebay or from overseas. That should be your bread and butter IMO. Much more affordable for the kids, and better markup. Be fair with markup on single packs and you will do well. Also dont buy too many retail boxes. Hobby is king.

Cherry collectibles does pack wars and its a great success. Not everyone can afford a box. Its a fun way to get more people involved.
 
Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

footycard said:
a card shop straight up is almost guaranteed to fail.
and don't confuse the nba market online to selling nba in a shop in WA.
if your shop isn't dedicated to afl with nba and non sports as a little on the side then you'll go nowhere.
how close is the newsagent?

most have mentioned diversifying and to get that right you need to fill a hole in that area that will also compliment
trading cards.
internet cafe's don't do well unless your prepared to make a good coffee and have a good setup, but steam and cards don't mix.

tax is not an issue as you need to make a profit first :)
somewhere you mentioned $20,000 of stock? and buying cases? that would be shot in a week.
what if no-one buys what you choose with that 20k?
do you have another 20k for the next week?
yeah the rent will roll in very quickly, the electricity bill and don't forget the $2000 or so bond you need to pay the electricity company for commercial connection.
public liability insurance and stock insurance is another cost, aswell as an accountant.
advertising in papers and online costs too and if the owner is holding it for you then obviously it's not exactly a booming spot.

there's only one way to do it really, that is to buy a shop first.
in smaller towns everywhere there's lots of little abandoned shops with a bit of residential behind it.
i see 'em go for $80,000 - $140,000 generally. that's what you want.
if your renting then you could live in the house behind the shop and save money, or rent that bit out for continuouse cash flow.
owning it you then can't go wrong 'cos even if your biz' takes years to build up, your property is still making money and going up in value too.

finally, everything your imagining in your head about your shop, will be completely different after the first day of bizness.
Click to expand...

Good post and some good advice Ben!



It's a ballsy decision Tez and I give you credit for giving it a crack, hope it works out for ya!


I think this has a great beat, what do you guys think?



---------- Post added 12-05-2011 at 04:48 PM ----------
anakinleo said:
Hi Terry

I personally have thought about doing this for many years and as an accountant done the figures many times over to see if I could make a living from just selling NBA cards. I have to admit that you have a mountain to climb just to breakeven. Of course, the natural course or options of many hobby collectors is to diversfy into other sports such as AFL, MLB, NRL ; or even into non-sports such as movie, cartoon cards; or even into jerseys. I myself really have very little interest in the other sports so to venture into other sports is sort of a turn off for me other than the purpose of generating extra profits to cover my costs. Then all of a sudden, Eureka!!!! I had a brilliant idea, why can't I open something like a Post Office, Newsagency or Internet Cafe where that is the main business and is a self-sustaining as a business by itself. My incremental business is then to sell NBA cards of which will only take up a small space in the store and therefore does not create too much pressure in selling NBA cards for a living. Look, that is just my idea and am happy for you to follow it. Take care and good luck. Cheers Alex
Click to expand...

I like it! One day I might just use that concept :thumbsup:
 
Re: Hobby/card shop - Should I chase my dream ! Or am I just dreaming ?

Richo said:
Good post and some good advice Ben!



It's a ballsy decision Tez and I give you credit for giving it a crack, hope it works out for ya!


I think this has a great beat, what do you guys think?



---------- Post added 12-05-2011 at 04:48 PM ----------



I like it! One day I might just use that concept :thumbsup:
Click to expand...

Looks like your the only person who rates it :lol:

Got the nod today so it is officially " GAME ON "
 
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