Most people have been around games their entire lives. Games are a way to pass the time and provide opportunities to socialise with those who share similar interests. From video game stores to board game stores, chances are there's a gaming store near you. If gaming is your passion, think about starting a store yourself.
Before starting your business, think about the type of gaming store you want. Look at what is available in your local community and decide what would do well in your area.
Write a comprehensive business plan. "I plan on selling games to the public" is not a business plan. That is your idea; now you have to make it happen. Business plans are the most important documents for businesses.
In a business plan, write out every detail about your gaming store. Answer the following questions: What kind of gaming store is being starting? Why is this particular gaming store going to work? What is the competition? Where will funding come from? What are the start-up and monthly costs? How will the store be marketed?
Secure funding for start-up costs and expenses for the first year. The first year in a small business is tough; you have to market yourself and try to stay afloat while waiting for your business to catch on. If you have savings, think carefully about using them--you might lose it all. Think about securing a small-business loan or borrowing money from friends and family.
Acquire space to run your business. If you have a home office or can convert a space into a home office, think about starting at home; it's cheaper to run the business. If you have the money or can acquire funding, lease a space.
Acquire initial stock. According to thegamesjournal.com, you may need up to £6,500 to acquire a solid inventory for your store.
Market your store. Plan a grand-opening sale to get customers in, and start an advertising campaign. Attend local gaming conventions and pass out flyers to other attendees. Include incentives with the flyers, such as free door prizes or coupons.
Managing your business is a chore in itself. Hire an employee or two to run the store while you take care of more pressing matters such as securing inventory and advertising. Hire an accountant to keep your business current on taxes and payroll.
Things you need
- Business plan
- Leased space or home office