How to Establish A Video Rental Store
Video rental stores took a big hit when companies like Netflix started to deliver movies through the mail. However, there are still plenty of people who enjoy walking into a video store to browse for their movies. These people often like to pick up some snacks and discuss movies with the rental store's employees. If there are a lot of people like this in your area, you may want to open up a video rental store.
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Instructions
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Arrange your financing and permits. Approach some potential partners and investors or visit a bank for information about a loan. Go to your local permit office and apply for the licenses and permits that you'll need to operate a business.
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Choose a visible location with ample parking. Check strip malls in your area for vacancies -- many people like to pick up a movie while they are shopping. Make sure that the location has enough space to display your movies.
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Approach wholesalers and video publishers and purchase your inventory for the video rental store. Read their catalogs and choose videos that will do well in your location. Set up some accounts so you'll automatically receive new releases.
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Design your new video store. Purchase or build slant shelving that allows you to prominently display the videos. Separate the store into sections such as "New Releases," "Kids," "Dramas" and "Comedies." Install computer terminals that allow your customers to check for titles. Hang movie posters and large-screen TVs and run new releases on the screens.
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Use anti-theft measures such as magnetized strips to prevent shoplifting. Have at least two cash registers available for your customers. Make sure that your employees can see every part of the store from the cash registers.
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Keep a supply of snack items like popcorn, candy and soft drinks available for sale. To encourage impulse buying, place these items near the cash registers.
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Create a used or out-of-date video sales area. Prominently label the videos with their sale price. Encourage more sales with 2-for-1 pricing or similar discounts.
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Tips & Warnings
Consider taking special orders from customers who are searching for hard to find videos.
References
- Photo Credit ConAgra Foods, Disney Toy Shop
