Starting a business...

Discussion in 'Archived Threads 2001-2004' started by Luis S, Oct 23, 2002.

  1. Luis S

    Luis S Supporting Actor

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    Hey gang,having been through the ringer financialy,I ve been thinking about opening up a business.Something maybe along the lines of a Dvd rental/vendor.I know competition is steep with those such as blockbuster and Hollywood video,but Im passionate about it and think I can offer more than they do in terms of what consumers want.My question to you all is what kind of programs are there available for people like me ?Ive heard there are goverment loans,can anybody send some links with info on this?Any business owners out there who would care to share their experience/advice?Is there any courses I could take to give some info on running a business?Like I said I know its tough out there,but Im not realy looking to get rich or anything,just want to be around something I like and have a good time doing it.Any advice would be greatly appreciated as always.

    Thanks in advance,
    Luis S
     
  2. Brian Mansure

    Brian Mansure Second Unit

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  3. Charles J P

    Charles J P Cinematographer

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  4. Jeff Kleist

    Jeff Kleist Executive Producer

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    Don't bother with video rental, you'll just be wasting your money. Honestly, not to burst your bubble but it's a dying industry if you're name's not Blockbuster or Hollywood
     
  5. Luis S

    Luis S Supporting Actor

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    Hey thanks for the link Brian! Charles and Jeff,yea I know it can be hard going up against them but maybe not.For example theres this little place by me that sells movies new and used.Mind you when they opened I thought itd never last.Well they made it still there 2 years later[​IMG] I figure hey if they can get pretty damn good buissness selling old movies and new movies at msrp AND only Canadian versions,then hell,why not [​IMG] ? Im gonna make this an honest effort.See here where I live we dont have anbody realy offering any good deals on dvd movies .Major rental chains SUCK when it comes to renting older titles(to the point I have to buy most of the horror movies Ive seen sight unseen,and if the movie sucks well TS for me.)[​IMG] so I figure if I can maybe sell and rent I could get apretty good groove going.Thats realy the only thing other than selling AV equipment,which would be great also cause to get a good price on equipment around here is impossible.Keep the suggetions/ideas coming though I appreciate it all.
    Thanks,
    Luis S
     
  6. BrianB

    BrianB Producer

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    Luis, just because they're still open doesn't mean they're actually doing WELL - they could be bleeding money out the door but stubbornly keeping open.
     
  7. Luis S

    Luis S Supporting Actor

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    Well,let me put it this way.Their customer base has grown considerably,they've expanded their dvd section and are planning on opening another store.I think I got a pretty good idea of how they are doing since Im always there [​IMG] waht do you think of the av store idea?Like I said,dont need to be rich just happy.
    Luis S
     
  8. Thi Them

    Thi Them Producer

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    Around here there are lots of mom and pop rental stores that have been around for years. The two I go to charge $1 for VHS and $1.50 for DVD. Both have an adult section though, which I heard is how these types of stores survive.
    I think you'll lose a lot of money if you carry older, unpopular titles. But hey, if you don't care about being rich, go for it. [​IMG] I think it's a good idea if you make aware of those titles, such as having a paper copy of your monthly picks or something and to reward the customers for renting those movies. You could mature the tastes of your customers, and they will seek more of those types of movies.
    There is a member here who has a DVD rental store in, I think, the Fuji Islands. Maybe he'll respond to this thread, or if someone remembers his name, you could contact him for advice.
    ~T
     
  9. Aaron Silverman

    Aaron Silverman Executive Producer

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    I've been thinking about starting a business myself--it's a tough call. It's true that the porn keeps mom 'n' pop video stores afloat--that's been true for years!
    I was angling more towards a game/ hobby shop, since that's more my forte. I'm not sure that opening a video store around here would be a good idea. There are a LOT of Blockbusters in the neighborhood!
    Or I might just buy out my girlfriend's business partner. What could be more appropriate in south Florida than a Jewish-owned Asian restaurant??? [​IMG]
     
  10. Luis S

    Luis S Supporting Actor

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    Hey porn is cool.Dont mind having to carry that [​IMG] I fogot about games.But I definately intended to rent those.It a pain in the ass to rent games from the big guys [​IMG] At least in my experience.They get the new game late,like 2-3 weeks late,only 1 copy of the great games,and so on.Its not easy I know and theres probably alot of thing to learn before I go full steam ahead into it,but since my goal isnt realy to become wealthy I think a little place like this would be appreciated quite a bit around here.Where can I get info on goverment grants?I havent had any luck finding it so far. Public libary maybe?Keep it coming guys I like to get as much insight as possible,every contribution helps [​IMG]
    Thanks again,
    Luis S
     
  11. KyleS

    KyleS Screenwriter

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  12. Luis S

    Luis S Supporting Actor

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    Oops sorry Kyle :b I was of course hoping to get or rather look into getting a goverment grant for small busineses.Thats one of my main questions in this thread,not realy sure where to find such info.Any ideas?

    Thanks,
    Luis S
     
  13. Brian Mansure

    Brian Mansure Second Unit

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  14. KyleS

    KyleS Screenwriter

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    Thats cool it just seemed like you were missing a huge step of getting the money required to open a business that will have a large capital expense up front to buy the Media & Hardware you will need. Let alone the databases and computers you will need to keep track of your customers and equipment.

    KyleS
     
  15. Brent Cantrell

    Brent Cantrell Stunt Coordinator

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    Ummm, not sure if it's at all appropriate to plug myself here, but computers, networks and databases/point of sale software for small, startups is what my business caters to. If you need help with anything, let me know.
    (and also, there's not much more rewarding than working for yourself, if you've got the self discipline to do so, don't plan on making much of a profit the first couple of years tho...[​IMG] )
     
  16. Steve Berger

    Steve Berger Supporting Actor

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    The classic recipe for business success is to find a need and fill it. My business is still going after 23 years based on that philosophy. Another concept is to start small (part time,after hours?) and put the profits back into the business not in your pocket. Do this until it grows enough to take over as your primary source of income and you can "quit your day job". This method has the advantage of low debt and if it dosen't work out you're not in hock up to your eyeballs. Businesses based on these two ideas can usually succeed. You might be able to skip one of these concepts and still be successful, but not both.
     
  17. Luis S

    Luis S Supporting Actor

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    Hey Brian thanks for the link!Brent Ill be sure to keep you in mind when and if I can get something going [​IMG] Steve,excellent advice.I agree 100% [​IMG] lots of valuabe info and insight you guys have been giving me!I totaly appreciate it [​IMG] Heres a ? for ya,where could I get the info for the merchandise Ill be carrying? Movies,the display shevel,ect..ect..Thanks again guys!
    Luis S
     
  18. Peter Apruzzese

    Peter Apruzzese Producer

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    Luis,
    Go to these sites for a lot of information about video retailing:
    Video Store Magazine
    Video Business Magazine
    Video Software Dealers Association
    I was in video retailing for 9 years in the 80s and early 90s. A lot of things have changed since then, but customer service is still the number one priority. You have to find an area where your competition is weak and exploit it. You have to advertise your difference. But, most of all, you have to be ready to make very little money for the first few years. If you can do the store while your wife works a full-time job, all the better. Buy lots of used product and closeouts to stock your shelves initially. Research everything you can. Spend a *lot* of time studying other stores in your area.
    Good luck!
     
  19. David Range

    David Range Agent

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    I don't know the video rental business, but I can offer some advice on running a small business. As they say, location, location, location. Pick a couple locations with lots of traffic and easy accessibility, and spend some time
    watching how many people shop in those areas. Talk to the
    owners/managers of the surrounding stores and ask how business is going, lease options, etc. Talk to the landlord/leasing agent about the spots. The SBA is a great place to start, but you will need a business plan to receive a loan. Plan to spend long hours working in your store to keep payroll costs down in the first year. Keep in mind that the smaller payroll you have, the less you'll pay into unemployment, medicare, etc. Expect to work 7 days a
    week at least for the first couple of months. I opened my store in February of this year and didn't take a day off in the first six months, even though business was good, it's always better when the owner is in the store. Most employees don't care how much the store makes, just their hourly wage.
     

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