Opening a store!

ryosnk

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Hello to you all, I would like some info or ideas on what could be a possible money earner! I would like to open a store in Chicago(Large metro city) but was wondering what are some possible ideas to open with. Like should I open a video game store, food, restaurant, a lan party club, etc. Which one of these or any others are great money earning possiblities?
 
I think the LAN thing is your best option.

There's another thread talking about the video game store idea and all the retailers that post on the site says you only mkae like 4 bucks a game, and that's if you're lucky.

Bottom line is if you are opening a business than it has to be something that speaks to YOU, ideas from the outside don't work if you don't have the passion to just shit your pants and dive in.
 
In my business class years ago I was told a fast food restaurant franchise. Places like McDonalds will research the location and decide wether or not it is needed and they will allow you to open one there. If it looks to them like it will not bring them the money they will not go along with it.

If you want to open your own themed restaurant it will take lots of work with the big possiblilty of failure, unless you can think of one helluva theme that someone else doesn't already do good.

Remember you will invest a lot, work a lot, and probably struggle at first.
 
Actually, I would think that McDonalds probably make more on real estate in a year than the do from food sales.
 
Big money makers are alcohol, tobacco and lottery tickets. Open a convenience store and you're on your way to easy street!
 
[quote name='Machine']Big money makers are alcohol, tobacco and lottery tickets. Open a convenience store and you're on your way to easy street![/quote]

How many times has Apu Nahasapeemapetilon been shot? :lol:
 
[quote name='JimmieMac']Bottom line is if you are opening a business than it has to be something that speaks to YOU, ideas from the outside don't work if you don't have the passion to just shit your pants and dive in.[/quote]

Shit your pants eh? This doesn't sound like a very good business practice in my opinion...
 
[quote name='Mr Unoriginal'][quote name='JimmieMac']Bottom line is if you are opening a business than it has to be something that speaks to YOU, ideas from the outside don't work if you don't have the passion to just shit your pants and dive in.[/quote]

Shit your pants eh? This doesn't sound like a very good business practice in my opinion...[/quote]

Lol, but I do agree with JimmieMac, do something that sparks your intrest. If you like video games, go for a video games store. If you like LAN partys, bring that to other people. It's all about the passion.
 
whomever said lotto tickets are money makers is wrong, unless you sell a winnign ticket you make a penny or two from each ticket. the only thing it does is bring in customers.
on the other hand the liquor store business is cheap to get into and makes a good profit, you can walk into a 30% profit pretty easily.
Just research and make sure the location if right.
Id say its a good first business for sure. it allows for more mistakes in management than the other options you listed, imo
 
Something else is the cost of doing this, I dont want to spent more then I can. Is their any government grants that maybe can help me make things a-bit easier?
 
Retailers in MIchigan get a 6% commission on all tickets sold plus bonuses for wiinning tickets plus the all the foot traffic they bring in. Not too bad.
 
[quote name='scuba']Dont franchise like a McDonalds, I heard that they dont make like anything, to make good money you need to own many.[/quote]
I think he's right, I mean, for those that live in a suburban community, if you think about it, how many local fast food places have you seen go out of business in your lifetime (for me, tonnes! And im only 16!)
 
the solution is easy. what is one thing everybody needs and uses pretty much every day after the age 16? Open a gas station at a busy location where their already isn't one. you could also sell your tobacco and lottery tickets their too as someone else pointed out.
 
Research. Research. Research.

Opening up a LAN party store? Make sure there is demand for it. It must be in an area near teenagers. Near a school would be better.

Opening a gas station? Make sure it's in an arear where there isn't one within a decent amount of miles. Same goes for a convenience store.

Whatever you decide to make, make sure it's in the perfect area. Just know, thjat taking risks is a good idea. Don't hold back, and make sure you advertise as much as you can. Internet, schools, stores, family, friends, anywhere and everywhere.
 
just don't open a Subway. I've worked for them for close to 10 years and it takes alot to make money. They do a shit ton of the pre-opening work for you but if you want it in a large city, locations are hard to find. Thay have rules and regs. about where you can place one. Also, right now in IN. franchisees pay out over 13% of their sales the have the privilege of owning a Subway and that doesn't include any of the overhead associated with a typical business! But on the plus side there are more Subways then McDonald's....
 
[quote name='LoganDX']just don't open a Subway. I've worked for them for close to 10 years and it takes alot to make money. They do a shit ton of the pre-opening work for you but if you want it in a large city, locations are hard to find. Thay have rules and regs. about where you can place one. Also, right now in IN. franchisees pay out over 13% of their sales the have the privilege of owning a Subway and that doesn't include any of the overhead associated with a typical business! But on the plus side there are more Subways then McDonald's....[/quote]

thats called franchising, every company has their own rules regarding franchising.

large corporations usually select franchisees from a pool, a bunch of folks apply and they select, it usually costs x amount just to buy into a frnachise, but you get some benefits such as established menus and advertising.

Id highly suggest going down to your local community college and taking some business classes.

I think it would help you a lot if you are serious.
 
Yeah I know.

I have just seen how they operate and know that that their franchise fees are sometimes 5% more than other franchises. I just don't think IMHO that it is something for a new entrepenuer to get into.

To franchise out they also want $$$ plus collateral. The one owner I worked for had to put his houses on in case of failure. A risk you take yes but how many are willing to lose their home in this kind of economy?

Just a thought is all...
 
I have the ideas and layout for a place but I need some money.
So is their goverment grants or places where I can get assistants to open up a business (Gaming cafe)?
 
[quote name='ryosnk']I have the ideas and layout for a place but I need some money.
So is their goverment grants or places where I can get assistants to open up a business (Gaming cafe)?[/quote]

They ususlly require a detailed buisness plan, inventory and all. Also its like a student loan, in that if you default you are screwed and it stays with you forever. My suggestion is to build up some capital, get your ideas together and open something up when all your ideas come into place.
 
[quote name='StealthySeal']look at the date of this thread .... think before you speak[/quote]

lol...Actually that makes it worse. So it went from this idea to the other 2 ideas (with many more I'm sure) and now he's back on this subject?
Its easy to talk about doing something, but actually getting off your can and doing it is requires more effort than this.

Stealthy...I will deal with you next week in Fantasy Football. :wink:
 
[quote name='ryosnk, from another thread']Well me and some friends we talking about a show that comes out in public access channel talking about comic books. So we talked on how cool it would be if we can make are own show. So is is a good idea to invest or put effort on creating a show based on gaming or would it be just a waste of time? (I know there is a network on gaming but I think they suck) [/quote]

From another topic of career contemplation :

"me and some friends",

"are" instead of "our",

Stay in school kids........it really can prepare you for life if you work at it hard enough.
 
[quote name='johnnyoski']Dude, you've gone from this idea
http://cheapassgamer.com/forum/viewtopic.php?t=30048&highlight=

to this idea
http://cheapassgamer.com/forum/viewtopic.php?t=28462&highlight=

and now you want to open a store?

Quit asking what everyone else thinks about it. If you want to do something go for it, but quit asking us our opinions on all these things if its just your idea of the week.[/quote]


Ok, lets get this straight. I am just asking for info for future information on opening a store, the gaming programming shows is going to be a group thing, and I will start school in spring. So its not my fault I have alot of plans and you all dont because the way I see it you dont have anything else to do but do a search on me and view all my post.

Also if you dont want to view my opinions and ideas just dont fucking view them. :wink:
 
[quote name='bmulligan'][quote name='ryosnk, from another thread']Well me and some friends we talking about a show that comes out in public access channel talking about comic books. So we talked on how cool it would be if we can make are own show. So is is a good idea to invest or put effort on creating a show based on gaming or would it be just a waste of time? (I know there is a network on gaming but I think they suck) [/quote]

From another topic of career contemplation :

"me and some friends",

"are" instead of "our",

Stay in school kids........it really can prepare you for life if you work at it hard enough.[/quote]


Overall this is surely getting annoying. People ask for little thing like "where can I get a flyer" or something small and people responded like they own this fucking site (except CheapyD). I remember when this site was fun and people could ask anything about games and other things in life and people would respond with thoughts and ideas. I guess someone let the idiots in and they decided to run the place. Just my two cents!

P.S. When you post over 1000 post in just a few months it doesnt mean your the group leader it just means get a life!
 
Gas stations and liquor stores make a large profit (from check cashing too)....but put it near an interstate exit. And, it'll still cost a lot to open...so you better have at least $100K-$200, just for starters.
 
If you were in new england and serious about this, I would advise you to look into dunkin donuts. The people around here are really addicted to the coffee. Of course, location is everything. The dunkin donuts shop near penn state did horribly, as did the one near my parents' place in central PA.

Spend some time to figure out what the people in your local area want and find a good location for your store. I don't know how much cash you have access to, and that is a definate factor in what you can do. Also, I would talk to some other businesspeople to get some of their advice.
 
[quote name='scuba']Dont franchise like a McDonalds, I heard that they dont make like anything, to make good money you need to own many.[/quote]

This man couldn't be further from the truth. I must say the fact that you are in the Chicago Metro area makes the fastfood thing a bit harder, since there are probably a lot already. That being said, I know the man who owns 3 Burger King franchises in my town and he is loaded. I mean not Bill Gates loaded, but he is definitely worth around 30 million. He has owned them for a long time, but franchises are a pretty safe way to go. They take away a lot of the risk. Of course, you don't get all of it, and you are limited in what you are able to do individually, but they are definitely a viable option.
 
[quote name='ryosnk'][quote name='bmulligan'][quote name='ryosnk, from another thread']Well me and some friends we talking about a show that comes out in public access channel talking about comic books. So we talked on how cool it would be if we can make are own show. So is is a good idea to invest or put effort on creating a show based on gaming or would it be just a waste of time? (I know there is a network on gaming but I think they suck) [/quote]

From another topic of career contemplation :

"me and some friends",

"are" instead of "our",

Stay in school kids........it really can prepare you for life if you work at it hard enough.[/quote]


Overall this is surely getting annoying. People ask for little thing like "where can I get a flyer" or something small and people responded like they own this shaq-fuing site (except CheapyD). I remember when this site was fun and people could ask anything about games and other things in life and people would respond with thoughts and ideas. I guess someone let the idiots in and they decided to run the place. Just my two cents!

P.S. When you post over 1000 post in just a few months it doesnt mean your the group leader it just means get a life![/quote]

You're not your. Also, learn how to use commas. Wow, I am such a bastard.
 
If you want to make a lot of money in retail..

EASY!

SHOES and/or used-vintage clothing

you can buy used clothes by the ton (not joking) for pennies a pound and then you go through it and pick stuff out...in Chicago I am sure you could do very well with this market..

Also Shoes (especially ladies shoes) have at least a 40% markup and usually a lot more...as much as 300% actually....this is why many shoe places seem to be running a perpetual sale

People will ALWAYS need shoes and I think it is the rare person who buys them from the Internet...which means your retail front is only threatened by local competition which is easily avoided through common practices and techiques.

SHOES OR CLOTHES...You may not feel passionate about either but you will MAKE MONEY and then with the money you can buy whatever games you want...

If you want to hate video games and hate gamers...and make almost no money..then by all means..open a game store.

[my 2 cents]
 
umm... back on topic!

if your going to make a gamers cafe, I say make it an overall cyber cafe where people can actually go to do research online and other, slightly more important things than just playing games. it'll really increase your customer amount.
Also, rather than selling games, renting games, IMO seems like it would be more profitable. Lets say u get a popular game for $40, rent it out for a week at a time for $5 (still cheaper than blockbuster) it just has to be rented 8 times before it pays for itself. If that still sounds like a lot, then sell it when the game gets old for $20 or so and you'll definately make a profit.

Plus, feel free to take games for yourself
 
[quote name='Mr. Anderson'][quote name='Mr Unoriginal'][quote name='JimmieMac']Bottom line is if you are opening a business than it has to be something that speaks to YOU, ideas from the outside don't work if you don't have the passion to just shit your pants and dive in.[/quote]

Shit your pants eh? This doesn't sound like a very good business practice in my opinion...[/quote]

Lol, but I do agree with JimmieMac, do something that sparks your intrest. If you like video games, go for a video games store. If you like LAN partys, bring that to other people. It's all about the passion.[/quote]

Word to that.
 
[quote name='defender']If you want to make a lot of money in retail..

EASY!

SHOES and/or used-vintage clothing

you can buy used clothes by the ton (not joking) for pennies a pound and then you go through it and pick stuff out...in Chicago I am sure you could do very well with this market..

Also Shoes (especially ladies shoes) have at least a 40% markup and usually a lot more...as much as 300% actually....this is why many shoe places seem to be running a perpetual sale

People will ALWAYS need shoes and I think it is the rare person who buys them from the Internet...which means your retail front is only threatened by local competition which is easily avoided through common practices and techiques.

SHOES OR CLOTHES...You may not feel passionate about either but you will MAKE MONEY and then with the money you can buy whatever games you want...

If you want to hate video games and hate gamers...and make almost no money..then by all means..open a game store.

[my 2 cents][/quote]

Listen to him. He's doing what you say you want to do.
 
Open up a strip club, and get some "extras" on the side ;)

We have a lot of game lan places that opened up recently along campus, making a killing, while we've lost a few game stores :(.

Also sushi resturants do really well over here. We have a ton of them. I used to be a chef too :p

And isnt it susposed to actually be?

Well me and some friends we talking about a show.


Well my friends and I were talking about a show.?

Because the usage of I and me is compared with the completion of the sentence.

Me are talking about a show :(
I are talking about a show. :(
I was talking about a show :)

I type poorly all the time, but i believe that is the more correct way.
 
[quote name='StealthySeal']mmm... im busy getting raped right now by shaq fu... hes beating me by 2 points and his QB hasnt played yet -_-[/quote]

If you are getting raped, im getting gangraped, im going to be the lowest point total this week, and I think the lowest of this season thus far. Who would have thought Jerry Rice would have sucked this year.
 
[quote name='JSweeney'][quote name='defender']If you want to make a lot of money in retail..

EASY!

SHOES and/or used-vintage clothing

you can buy used clothes by the ton (not joking) for pennies a pound and then you go through it and pick stuff out...in Chicago I am sure you could do very well with this market..

Also Shoes (especially ladies shoes) have at least a 40% markup and usually a lot more...as much as 300% actually....this is why many shoe places seem to be running a perpetual sale

People will ALWAYS need shoes and I think it is the rare person who buys them from the Internet...which means your retail front is only threatened by local competition which is easily avoided through common practices and techiques.

SHOES OR CLOTHES...You may not feel passionate about either but you will MAKE MONEY and then with the money you can buy whatever games you want...

If you want to hate video games and hate gamers...and make almost no money..then by all means..open a game store.

[my 2 cents][/quote]

Listen to him. He's doing what you say you want to do.[/quote]

Porn too, better yet, porn by mail, man I spend waaay too much on that.
 
i dont your ready too open anything if your asking for other peoples advice for what type of store too open, makes your own decision based on what you want, think for yourself first.
 
[quote name='sying']Who would have thought Jerry Rice would have sucked this year.[/quote]

{raises hand}
The guy is 42 years old. Even the greatest WR of all time has to realize when it's time to retire.
 
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