How to Start a Game Store Business

Stock your game store with new and used games.

If you like gaming, a game store business could be right for you. Of course, things in business aren't all fun and games. Starting a business is hard work and you need to be prepared to put in the hours before you can see a profit. If you persevere, though, you'll have a store that fits in with your interests and earns you a nice profit. Start a game store business with the following steps.

Instructions

1. Determine whether you want to open a franchise or independent business. You don't have to reinvent the wheel. If you start a franchise game store business, you'll receive training and brand recognition. This could go a long way to help you succeed. However, you can also branch out on your own if you think that you have a unique idea.

2. Write a business plan for your game store business. Any business needs a solid business plan before you get started. Take the time to write a good one or hire a professional to do it for you. A business plan not only leads you in the direction of success, it also can help you get financing.

3. Get financing from a bank. Unless you're independently wealthy or have interested investors, you'll need a bank loan to get started. Most banks offer SBA (Small Business Administration) loans, which are government-backed, low-interest loans for business owners. Talk to a representative to see if you qualify.

4. Find a location. The location of your store is important for success. Try to find a high-traffic location so that you can get many customers. If your store is a bit out of the way, you may have to do additional advertising to direct traffic to your store.

5. Hire employees that are knowledgeable about the gaming industry. Customers are going to ask questions about games and you need staff that can fully answer their questions. When choosing employees, look for people who play games and who are interested in the gaming industry.

6. Purchase stock to fill your store. Your initial stock purchase will be a big one. Make sure that you purchase a variety of games for a variety of consoles. Once customers start buying your games, you'll have a better idea of which games sell best and you can focus your purchasing there.

Tips & Warnings

• Set up a policy to accept used games in exchange for new ones. You can then resell the used games and the money stays within your store.

References

• Entrepreneur