Opening a comic book shop advice | CBCS Comics

Quote:

Originally Posted by X51
Quote:
Originally Posted by doog
My son opened one, 1 year anniversary is now. (Milwaukee, The Turning Page). Best thing he has ever done.
The old time owners told him “don’t do new comics” so he found a partner who wanted to do new ones, and rents him a store wall. The guy keeps it as a separate business, license and all. He closes the store and does conventions regularly, buys collections, sells on consignment, does toys, games, figures and such. Sells on eBay.
I say go for it, beats a regular paycheck for some folks, and you do something hopefully you love

It sounds like he's subcontracted away a lot of the headaches and responsibility.

Probably a "sub-lease" if he owned the property.....and/or has allowed renters to setup individually.

You see this type of activity with strip mall outlets of sorts. One store may be an entire "flea market"...with individual sections of the store designated for an individual seller.

Collector 1.8K	1.8K RRO private msg quote post Address this user	plus 1 plus 1 plus 1 0
	Quote: Originally Posted by X51 Quote: Originally Posted by RRO There are no absolutes in life and/or business. However, I would strongly caution against two aspects of small business: a partnership (although silent partnerships can work) and operating in contravention of legal boundaries, mostly city & state regulations and permits and tax aspects. I have known many a failure due to those factors. In most businesses, the product depreciates. With a shop selling collectibles, the value can appreciate. It very likely that the IRS would have a problem with the way most comic shops fill out their tax returns. I've never heard of a good outcome when a comic shop is audited. Luckily, it does not happen very often. It did happen to me, the agent/agency cared nothin of the damage that it intended to wreak on myself and my biz'. As far as the inventory is concerned, there are one or two formulae involved to make it work in your favour, should you wish to employ such. Controlling inventory can make or break an LCS; I can vouch for that.
	7 years ago	Post 32 • IP flag post

Collector 2.13K	2.13K ZosoRocks private msg quote post Address this user	plus 1 plus 1 plus 1 0
	Oh X51...don't get me wrong, it is a hobby, amongst the many I have. I think I treasure hunt more often these days. I like selling on eBay because of two things primarily.... 1 - the stuff has been sitting, I've enjoyed it, but now when I find I bought it for enjoyment, I'm ready to sell. Investment? yes, Money made? yes. 2 - I sell, someone else gets enjoyment. Do I make money? Sure...but this hobby isn't all about money to be made.....enjoying the world others did so you can enjoy the hobby is where I put my cards. Do I make lots of money doing the buy and selling stuff...nope....just having fun putting smiles, upon others. But I did invest well....IMO I'm way past living for the dollar....although I still do, technically....it isn't what I live for nowadays. Cheers.
	7 years ago	Post 26 • IP flag post

Collector 2.13K	2.13K ZosoRocks private msg quote post Address this user	plus 1 plus 1 plus 1 0
	Quote: Originally Posted by X51 Quote: Originally Posted by doog My son opened one, 1 year anniversary is now. (Milwaukee, The Turning Page). Best thing he has ever done. The old time owners told him “don’t do new comics” so he found a partner who wanted to do new ones, and rents him a store wall. The guy keeps it as a separate business, license and all. He closes the store and does conventions regularly, buys collections, sells on consignment, does toys, games, figures and such. Sells on eBay. I say go for it, beats a regular paycheck for some folks, and you do something hopefully you love It sounds like he's subcontracted away a lot of the headaches and responsibility. Probably a "sub-lease" if he owned the property.....and/or has allowed renters to setup individually. You see this type of activity with strip mall outlets of sorts. One store may be an entire "flea market"...with individual sections of the store designated for an individual seller.
	7 years ago	Post 27 • IP flag post

COLLECTOR 11.29K	11.29K conditionfreak private msg quote post Address this user	plus 1 plus 1 plus 1 2
	What's the worst thing that could happen if you do open an LCS? You lose a ton of money, slowly. But, at least you will know. If you don't give it a try, you will never know for sure. I say go for it. It's only money. Live the dream. You can always sell shoes with Al Bundy if it doesn't work out.
	7 years ago	Post 28 • IP flag post

Collector 2.96K	2.96K BabaLament private msg quote post Address this user	plus 1 plus 1 plus 1 0
	I made the decision to start very small because I have a fixed amount of money I'm willing to lose. So far, I've invested $5,000 into the business, and I've made $3,000 in sales. Most of the initial investment was for materials (boxes, boards, bags, dividers, shelving), office equipment (computer, desk, filing cabinet, printer), and product (comics). If things keep going the way they are, I'll have recovered my initial investment & transition to making a profit at some point in 2018. It only works because I run the shop out of my home, and I don't have any employees. I don't have overhead on another location, payroll, health insurance, or any of the other myriad costs associated w/ a retail location. I did have to get a secondary insurance policy to cover the business assets, paid a lawyer to ensure my paperwork was in order, and I'll end up paying an accountant to hold my hand through the initial tax season; but that's the cost of doing business.
	7 years ago	Post 29 • IP flag post

Collector 14.75K	14.75K X51 private msg quote post Address this user	plus 1 plus 1 plus 1 0
	Quote: Originally Posted by RRO There are no absolutes in life and/or business. However, I would strongly caution against two aspects of small business: a partnership (although silent partnerships can work) and operating in contravention of legal boundaries, mostly city & state regulations and permits and tax aspects. I have known many a failure due to those factors. In most businesses, the product depreciates. With a shop selling collectibles, the value can appreciate. It's very likely that the IRS would have a problem with the way most comic shops fill out their tax returns. I've never heard of a good outcome when a comic shop is audited. Luckily, it does not happen very often.
	7 years ago	Post 31 • IP flag post

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