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Hello TL. I am not a huge contributor, but I do try. You read the title so you know what it's about but first let me explain my situation, which isn't some drama ridden circumstance, it's plain and boring.
I have lived in Woodlawn, which is at the very tip of the Bronx, NY, for the 22 years I have lived. Same house, same family, I'm very content here. I need motivation, TL. I need to do something. I'm funny, smart, attractive and I don't think I have ever done any malicious deed without being conscious of what I was doing. I have no idea if I have ADD, but it just sounds like an excuse for laziness and lack of prospect. I have tried to do get a college degree, but my father is adamantly opposed to taking out more loans if I do not have a scholarship, and that requires me to have a 3.0 GPA, which I seem to be incapable of. But I'm not here to explain that, because I have tried to convince myself that it was my own fault, but now I really don't think college is for me. I wish I had never wasted the money in going there. Sure I met some people I like, but it has put me in this position where I need to pay off loans without getting the usual benefits of having a college degree. I have completed 2.5 years, but I have absolutely no desire to finish it. I don't feel like I deserve it, and I want to try to get on with my life without it.
The best way to do this I believe and still be considered successful is to make your own career. Now don't get me wrong, I could care less about money. It's just a means, and if my life were to get focused around it, I would go insane. So I do not want to be an entrepreneur or some shit. I also have some useful social skills from busing and waiting tables for the past 2 years. I think I literally have an infinite source of patience that I can draw from. I can force myself not to get annoyed or let my emotions take control. It's like some introverted superpower. I thought that maybe I was destined to be a school teacher, but that would require a degree lol...
Today I took the train to Scarsadale, a little north of me. I had just put together a MTG deck to have a little fun at this local comic store. I get there, and its closed. I wasn't surprised, the owner was nice, but it was a rinky-dink place and it didnt seem like any real effort was put into maintaining a good atmosphere. I was very bummed because there is literally no card store around here, except for hobbit cove little store in Fordham. I started to dwell on what would it be like to open a store?
I know it's kind of an unrealistic thing to open a store while in debt with no real job and in these great times, but I think it's something that I can motivate myself towards. And all of a sudden a surge of vision came to my head, and actual dream to do something worth while. Even if I fail, I need to try. But I need a lot of help. I figured I could ask around my extended family for investments, I wouldn't need to be the owner, I just need something to do like this, to get to know people in this neighborhood and develop a niche here. I really don't care if I just barely scrape by making a living. I see spaces all along the main stretch of Woodlawn where I could envision a little local gaming center being located. Ah yes the store iteself, if you couldnt guess, would be a little game center. Video games, card games, anything of that nature, there is literally nothing around me of that sort besides a bestbuy and a gamestop which are about a 15 minute drive out of the city (thats a pretty long distance when you dont own a car)
Anyway thats my little spiel. I'd love to get any advice. Or a job. TL admins stay for free! Hell I'd name it after TL. Dedicated LAN center, I can see it now!
Maybe I could call it Pwnage Emporium. That would confuse customers.
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I've always wanted to open up either a computer store or a LAN centre or something along those lines as well with my brother. I don't plan on looking in to details for another couple years until I've finished schooling and saved up some money, so I can't give any advice, but I share the same goal, so I hope things work out! 
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You are a huge contributor in my TL experience at least!
I don't really have any suggestions other than you should think VERY hard about finishing college. Also, you should probably figure out why that other game shop closed. Other than that, good luck!
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They didn't even have a website! I was so mindboggled by how a card/comic store did not have one, that I considered offering making a simple one for them in exchange for store credit. Oh well, I don't think it was choice of merchandise that was the issue, I feel like it was the management plus positive exposure.
I would like to have the degree, I looked into local places I could just finish the 4years in anything, but my father is so adamantly opposed to the idea that the moment I bring it up he shoots it down and tells me to get a real job first then talk about school when I can pay for it. I'm on the police officer list for NYC, and I would have no qualms about getting into that, but I can't sit here idly and mooch off my parents who are still working on paying off loans for my siblings.
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The first thing you need to open a store would be money. It seems like you don't have very much of it right now. I would figure that a gaming store would need:
4 to 5 gaming pcs ($1,000x5) $5,000
Tables ($200x5) $1,000
Chairs ($50x40) $2,000
Cash Register? (no idea) $1,000
RENT! ($2,000 per monthx12) $24,000
Games/Card Decks (No idea) $1,000
Food/Vending machines (No idea) $3,000
So that comes up to: $37,000
Not to bad to start up. I was thinking around $100,000 to start out. This doesn't take into account employees, benefits, insurance, every day expenses.
So I'd say at the least $40,000 to start this venture, to start it well would be $100,000. Advertising can get expensive.
The question is, can you save up that money? I don't think you're going to get 'investments' from your family/relatives when you A) don't have a degree, B) aren't in college, C) no desire to finish college, and D) Haven't really thought this through other then "Hey I want to open a gaming store!"
If you're serious about it, then you need to sit down and go over the math. How long would it take you to save up $40,000? Are you willing to wait that long? What happens if you borrow money and your gaming center goes broke? How will you repay those loans?
Not trying to deter you, but you need to give it a 'real world' look over. No bank will give you a business loan with where you're at right now. No collateral and I'm assuming you don't have a credit rating.
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Point: check out the local community. If there is a real desire for a gaming store, you might have something going here. If not, then why do it? The fact that there are no gaming stores around may be because people have tried it in your area and there is no consumer base out there so they all fail. I would really do extensive research into the demographics of your area as a first step.
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On June 25 2011 10:14 SleepTech wrote:
The first thing you need to open a store would be money. It seems like you don't have very much of it right now. I would figure that a gaming store would need:
4 to 5 gaming pcs ($1,000x5) $5,000
Tables ($200x5) $1,000
Chairs ($50x40) $2,000
Cash Register? (no idea) $1,000
RENT! ($2,000 per monthx12) $24,000
Games/Card Decks (No idea) $1,000
Food/Vending machines (No idea) $3,000
So that comes up to: $37,000
Not to bad to start up. I was thinking around $100,000 to start out. This doesn't take into account employees, benefits, insurance, every day expenses.
So I'd say at the least $40,000 to start this venture, to start it well would be $100,000. Advertising can get expensive.
The question is, can you save up that money? I don't think you're going to get 'investments' from your family/relatives when you A) don't have a degree, B) aren't in college, C) no desire to finish college, and D) Haven't really thought this through other then "Hey I want to open a gaming store!"
If you're serious about it, then you need to sit down and go over the math. How long would it take you to save up $40,000? Are you willing to wait that long? What happens if you borrow money and your gaming center goes broke? How will you repay those loans?
Not trying to deter you, but you need to give it a 'real world' look over. No bank will give you a business loan with where you're at right now. No collateral and I'm assuming you don't have a credit rating.
Well I think you overpriced certain things. But all in all the cost would be the major issue. I'm fairly close with my extended family, and they have discussed such ventures in this neighborhood before (not necessarily a game store, but it is certainly lacking in this neighborhood). But you are right, I'm not qualified to be the sole founder of such an operation. I would have to enlist a little help and a lot of investment. Realistically pricing things I would focus on getting the space and paying rent first. I'm a handy guy and my uncle is a contractor. I would set-up computers as time went on. Merchandise would be a bit of hassle, but thats to be expected and would be a main source of income at first. I think I'd have the space free to use at first, but I would be very diligent about throwing together regular LAN parties where I would only charge for the space and you would bring your own rig. Vending machines would be later, I think I'd set-up a fridge with drinks and snacks at first. A basic register is about $100, not sure where you got the $1000 figure from.
Still, $100,000 is an ideal amount to start the process with. And getting to that would require a job :D I'm pretty good with money, I think I've only spent about $500 of my own money in the past 6 months, but I do give a lot to my parents as unspoken rent. All stems back to getting a full-time job. God dammit.
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On June 25 2011 10:22 Zaranth wrote:
Point: check out the local community. If there is a real desire for a gaming store, you might have something going here. If not, then why do it? The fact that there are no gaming stores around may be because people have tried it in your area and there is no consumer base out there so they all fail. I would really do extensive research into the demographics of your area as a first step.
I know the consumers are there, it's just a real lack of getting noticed and putting the name out there. The gaming industry is getting bigger, and older people will start to take it seriously as the generation progresses onward. I'm fairly certain it's just a matter of time before something else pops up. You're very right though about checking out the need of it though, over half the people here have an Irish accent and aren't the most technically savvy people.
But I've got arguments planned, and I have a history in this town 
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But you are right, I'm not qualified to be the sole founder of such an operation. I would have to enlist a little help and a lot of investment.
I didn't say you weren't qualified. There's just more going into it rather then "Hey I want to open a gaming store"
Realistically pricing things I would focus on getting the space and paying rent first. I'm a handy guy and my uncle is a contractor. I would set-up computers as time went on.
Ok, now we're getting somewhere. You have connections. See if your uncle can get you a cheap space. I know Newegg, Amazon, and Tiger Direct have affiliate programs where if you send customers to them through your website (you'll definitely need one) then you get paid a commission. If you're as handy as you say you are and can set up computers then I'd open a computer store first. Custom computer building. Buy parts off of those stores you have affiliation with, then put computers together and sell them above the price you paid for them. Voila, income stream.
Sell any extra/spare parts you have in your brick and mortar store.
Now, what other types of income streams? Well, how about selling web space and website building. If you don't know anything about website building (html, css) then pay someone else to do it and then you charge above what they charged you. Don't want to mess with server space? IPOWER lets you sell their service and you get kickbacks from the fees. I know IPOWER would send $100 per every customer I signed up through them.
So, customer comes in, says hey, I want a computer and a website
Boom. You build them a $500 computer, sell it at $600, sell them the server space through another website(godaddy, IPOWER, yahoo), get $100 kickback from that, have someone create a website for you for $200 and sell it for $250 to $300.
Off one person you made $250 plus residual income for the web space every year.
So after you've gotten that customer taken care of, mention "Hey, with your new rig, come on Friday nights after closing and we have SC II tournaments!"
Now you've got your gaming store on the side!
This is mostly all hypothetical, but I do have my own websites that I make passive income off of so I know a bit about internet marketing/advertising/adsense/affiliate prices.
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If you were too own a gaming store, I would have to suggest that you do something similar to what Games Workshop does (not with merchandise, but with events). You should sponsor local LAN events or such and get well known...
Best of luck to you, whatever you decide to do. : )
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yo Bum. when you make it, PM me. ill be one of your first customers
Also, i feel kinda bad you live so far up in the bronx lol. i hear all kinds of stories from there
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I think Sleeptech gave some really good advice. Its a great idea to segue from building customized gaming PCs to hosting tournaments and creating a community center. First of all, it requires very little capital to begin with. Only $600 or so for the first computer, and you could probably turn a profit of $150 per computer per commision. If you can sell 10 of those then you'll be half way towards affording brick&mortar space, which will attract even more customers and make you look more legit. If you can sell enough gaming computers in your local area, then that's a pretty good sign that there's demand for your gaming community center.
It also gives you a great opportunity to poll your customers to determine what they want. If your customer base is mostly adults, then you might want to cater to them by getting a bar license and serving alcohol. Or if your customer base is mostly teenagers, then you might want to cater to them with junk food and vending machines.
And even if you can't sell very many gaming computers locally, well then thats a good way to figure out that your store is not needed without taking any additional loans. You will still have the profits from the few computers you do sell, and you can start looking for other communities to start up your shop. Also, building all those gaming computers and selling them will give you great technical and business experience, so even if your store idea doesn't work out it'll give you something good to put on your resume.
As far as loans go, I'd recommend that you check your local city of commerce. With todays economy its really tough to secure bank loans for new businesses unless you have lots of collateral. Your best shot would be getting a loan from your local government. If you can pitch your store both as an untapped industry and also as a community center, then you might be able to secure at least some small loans to rent space. But because you're young and don't have a college degree, you'll first need to prove that you can run a business by selling those gaming computers, and then you'll also need to put together and present a solid business plan.
I would recommend against going to your extended family for loans, as things could turn real ugly if your venture goes sour. Because in the worst case scenario, not only will you be deeper in debt, but you'll also damage your relationship with your family. If you can't secure a commercial loan then thats probably a good sign that your venture is not going to work. Something like 80% of all new businesses fail in the first year, so its nothing to be ashamed of, just be careful to watch your back and don't get too far in over your head.
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Sleeptech actually under priced it rather than over priced.
definitely need something that looks like $130,000 to start up comfortably and efficiently. IMO if it were me it'd be even more than that. With this type of business I think it'd be a better idea to put in as much capital as you can squeeze out so that you'll have some leg room to work with in case things don't go well.
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Thanks guys, I do have experience in computer building, but only a few things I did for myself. I could start off with website and try to advertise it locally. Always been fascinated by hardware... and that would give me a job to do.
Better get to work
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I opened up a video game and movie store in a small town in michigan several years ago. It didn't last long but I just wanted to do it to do it mainly. I was curious how other stores were able to stay in business because the numbers weren't adding up in my head when I was estimating their profits based on traffic. The biggest thing I learned is there's nothing magical going on and that if the numbers aren't adding up then it's likely the business is not profitable even if they are a corporate chain or it seems like everyone likes the store. The other thing I learned is what many store owners make might seem like a lot but you have to factor in the huge risk they're taking on.
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EPT
