Monday, January 5, 2015

You Don't Want to Open a Game Store. Really, You Don't.



It’s the beginning of the year, a year filled with bright and shining possibilities and what does any self- respecting gamer want to do? Why open a game store of course. What could be better than playing games with your friends all day and getting the newest and shiniest titles when they first hit the street?

Two Words:  Don’t. Seriously, don’t. Take your money and invest it in bonds, the stock market, corn futures. You are liable to do a lot better there. Paraphrasing an old saying from the real estate field:  “Do you the easiest way to make a million dollars in the game industry? Start with two million.”

80-90% of all game stores, heck all new businesses, close within 5 years, most within 18 months. The odds are against you.  However, if you really want to open one, see Wednesday's post.