Opening a gaming store (Also, cookies!)

[JaccoNamori]

Finding investors is tough. Banks and professional investors want to see business models and gaming stores and comic stores tend to be bad business models.

Indeed!

Theres some real potential in this store though. I know my stuff, Im going to diversify and sell what will move rather than what I personally like to bring in the profits, and Im going to be a customer and personal service oriented business so as to draw people away from buying similar products at existing chain stores... while attempting to branch out into a chain myself.

Most of my investors are just gamers with a few extra dollars in their pockets, and I love them for my faith in both myself and my ability to make money with this idea. I just have to work a little harder, save up a little more cash, and find some more investors before I can really get up and running.

What Im really hoping for is that I can get someone to co-sign a loan. All my friends are broke college students, interesting people, but not good for much beyond the cost of a pizza financially... Heck, I was broke and in school myself not long ago or I could get the loan myself without too much problems. Ive even got a business plan that markets the place as a book / novelty store (Wich is honest enough, in a way) I simply neglect to mention all the gaming materials so that a banker would be more likely to accept it.

All that aside though, I do hope I find enough investors to get open sooner rather than later. The faster I open the faster I can turn a profit after all

 

[Tarrasque Wrangler]

Where are you gonna be located? Might help to know.

 

[adwyn]

Be careful about other gamers as investors. Very few businesses in any field can survive the "customer as owner" model, and investors always consider themselves owners. You would be better off to go ahead and market your business for an SBA loan.

If you do choose to go with gamers as investors be sure to have paperwork drawn up - a handshake is too likely to go to court. And in the absence of a written contract it's anybodys' guess as to whether they are your partners in a partnership or creditors and if anything goes wrong (this doesn't just mean going under, the most common arguement is repayments vs. reinvesting in the company) they will cherrypick their option.

 

[Xath]

Why not get a booth at Gencon this year? Tell us about it; we'll support, and then put any profits towards your store.

 

[JaccoNamori]

Where are you gonna be located? Might help to know.

Ah! A town called franklinville, In NY state, near the pensylvania border. Great town

 

[JaccoNamori]

If you do choose to go with gamers as investors be sure to have paperwork drawn up - a handshake is too likely to go to court. And in the absence of a written contract it's anybodys' guess as to whether they are your partners in a partnership or creditors and if anything goes wrong (this doesn't just mean going under, the most common arguement is repayments vs. reinvesting in the company) they will cherrypick their option.

Indeed I have! They are limited partners, meaning Im in charge, and I can oust them if I want to. Granted, I have to pay them a bit more than they invested to do so, but it garentees that investing is a good idea even if you are a complete ass

 

[JaccoNamori]

Why not get a booth at Gencon this year? Tell us about it; we'll support, and then put any profits towards your store.

Good idea! I will see if I can manage it... Heres hoping

 

[ssampier]

Sounds cool. I'd echo the idea of writing a formal business plan for a SBA loan. Your local SBA chapter may habe classes and advice for free or cheap. The business plan be a good idea even if you do decide to find investors.

I wish all the luck to you. Just remember, a game store is a business, not a "hang-out" place for people or your friends. My last bit of advice, try to look professional without costing yourself a lot of money (too many game stores look "fly by night" or dingy). And don't forget, "customer service."