It is also a tool for you as a future business owner, laying down the foundation of how you plan to start this little venture and how you intend to keep it going in the future. If you need to borrow money to start your business, you will need to show this business plan to banks in order to help convince them that they should help you out. Showing a business plan to a landlord can demonstrate that you know what you are doing, have a plan to make money to pay the rent, and intend on staying in that location for a while.
If this is your first retail business, this plan can help guide you in setting goals and budgets for your business. There are a wide variety of options here. When we did ours, we used a computer program purchased at an office supply chain and just modified it and added our data. The program gave us the format to follow, and we could just put our information into it.
If you look in the telephone book, there are probably people in your area who offer business services like writing a business plan, and you could give them your information and pay them to write a professional business plan for you. Just be prepared to pay them, and know that when you need to modify it in the future as your comic book store opens and runs, you might have to go back to them for changes rather than being able to tweak it yourself.
His rates and details are on his website , and if you scroll down through that page, he also has a link to a bad business plan example that you can look at for reference and see what not to do. Finally, you could do the whole thing from scratch, on your own. This will be the most work, and you should still have a business professional look it over, however it is the least expensive method. Remember that if you are using this business plan to get a loan or establish credibility with distributors, landlords, investors and your in-laws, you will need to discuss these things with them because they might not understand what in the heck a comic book store does.
Here, you can explain the growth in comic book sales over the last few years and discuss how factors like the increasing number of comic book based movies continues to help spur growth in this market. The more detail you can show here, the easier it will be to convince a lender or investor that your market has room for growth.
The next thing to discuss is the specific details of your market in the area where you want your store. You have already looked at competing stores, and should know the proximity of them to you, what they carry, what their hours are, etc. Then go on to analyze the demographics of the area, describing the age and income level as well as overall population size of the area where you want your store.
Also explain what the demographics of your typical comic book customer are, and show what portion of the population of your area could potentially become a customer of yours. Using a map to show where the competing stores are and where yours will be is a great idea here.
Including other things like schools and freeway access ramps is also a good idea. This section helps paint a complete demographic picture of your store location, so using a picture is a smart idea. Once again, use real information that is as current as you can get, and cite the sources for the data.
Once you have given an overview of the area where you want to have your store, you can discuss the specific benefits of your location. Refer readers to the map that has freeway access ramps and schools on it, if your store is near those, and discuss how this will help bring consumers into your store. If you have a mass transit stop near your store, talk about that and the benefits of it. Are you putting your store in a mall or other high-traffic retail shopping areas?
If so, discuss that and how it will be a benefit to your business. Try to get traffic counts for the street s that pass your location, and include those in your plan. How much parking will your customers have access to? Who are your neighbors? What kind of signage will you have? Is the population within a three-mile radius growing or decreasing? Are the residences within a three-mile radius young families or retirees? Will the street s that pass your store be under construction in the next few years?
What is the crime rate in the area? What is the retail vacancy rate within a three-mile radius of your future store? Try to answer all of these questions in this section of your business plan. Explain what you plan to sell and why, and the potential profit of these items. Also, discuss the longevity of the products including how well they sell the first few weeks out and how long into the future they will be displayed in your store.
If you are offering discounts, what are they? Who will get them? How will they affect your profit? This is also a good place to include your potential store floor plan, showing what you want to put where and how much of the store the items take up.
Next, you can discuss your employees, if you plan to have them. Make sure you mention how often you will pay them, what their hourly wage will be, and how many hours they might work, and any additional costs to you for having them work there: Unemployment Insurance, social security, employee discounts, etc. You should show your estimated total expense per employee and how many employees you plan to have, as well as discussing how this wage compares to the wage paid to other people working in similar businesses.
If you are your only employee at first, do the same thing but just for yourself, and then discuss when you might hire employees down the road. The previous section and this next one are the places where you are really selling your store and your ideas to readers of the plan. You want to really show that you have planned things out and that you know what you are getting into, as well as showing that you have plans to make the business thrive and even surpass any competition you might have.
Marketing is the next thing to discuss. You have to let people know that you built it and why they should come. Here again, the more specific numeric information you can show, the better. Most sales people who want you to buy advertising from them will gladly provide you with all kinds of price breakdowns, demographic information, etc. Serious ollectors are the lifeblood of this business. The customers who want a rare comic book that is extremely hard to find are good and the ones that maintain more than one type of collection are excellent customers.
Disposable income allows customers to pay big prices for the collectibles that they treasure. These are good customers for this business. You hunt for them and they pay good prices to you in order to complete their collection of the comic books they love. Although the customer types mentioned above are the best for the business, one must not forget the less dedicated customer, or casual fan. These are customers who may only wish to purchase new comics, models, or just make sporadic purchases.
Appealing to both hardcore and casual fans will make your shop more successful. A comic book store makes money by purchasing comic books and and reselling them for a profit. The key to this business is to be a successful trader. You must know the fair market prices for rare comic books and you must buy them for less than the going prices in order to resell them for a profit.
Additionally, a comic book store can also make money by selling online. Two alternatives to the traditional brick-and-mortar store business model include:. Remember that the market plays the biggest role in determining prices. The rarest comics are the most expensive, while newly produced comics may also carry a moderately high price due to their topical nature.
Figures and models are priced similarly. In addition, there is often a bargaining structure in play at comic shops and as such, customers may expect to be able to bargain for prices. Whether or you not you choose to have set prices is your decision. To say that you will get rich in this business would be an overstatement. The idea is to make enough to pay the rent and keep the store open until you find a treasure at a bargain price that you can sell for a substantial profit.
Besides selling physical items in store, you can also buy and sell online and place your most valuable pieces in online auctions with a minimum bid in place to maximize your profits. Bringing your best stuff to comic book conventions and renting a booth to sell items there is another way to make extra money. An alternative business model might involve selling physical comic books online that you publish yourself. You may want to sell digital comics for devices such as Kindle, Android, and on the Internet through systems like ComiXology.
As a sideline business, you may want to offer video games and gaming equipment as well. Because comic book stores that are popular become a place where collectors like to hang out, there is an opportunity for increased profits through things like paid-entry for in-store gaming tournaments or paid raffle entries to win rare comics. Choosing the right name is important and challenging. If you operate a sole proprietorship , you might want to operate under a business name other than your own name.
Visit our DBA guide to learn more. When registering a business name , we recommend researching your business name by checking:. The most common business structure types are the sole proprietorship , partnership , limited liability company LLC , and corporation. Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your comic book store is sued.
Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services. You can choose to hire a registered agent or act as your own. You will need to register for a variety of state and federal taxes before you can open for business. Depending on which business structure you choose, you might have different options for how your business will be taxed.
There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides. When your personal and business accounts are mixed, your personal assets your home, car, and other valuables are at risk in the event your business is sued.
In business law, this is referred to as piercing your corporate veil. Additionally, learning how to build business credit can help you get credit cards and other financing in your business's name instead of yours , better interest rates, higher lines of credit, and more. Recommended: Read our Best Banks for Small Business review to find the best national bank, credit union, business-loan friendly banks, one with many brick-and-mortar locations, and more.
When it comes to establishing your business credit, net vendors are considered the way to go. The term "net," which is popular among vendors, refers to a business credit arrangement where the company pays the vendor within 30 days of receiving goods or services. Net credit terms are often used for businesses that need to obtain inventory quickly but do not have the cash on hand. This is how businesses build business credit so they can qualify for credit cards and other lines of credit.
Recommended : Read our guide on the best net vendors so you can start building business credit now , so you never have to worry about cash flow in the future. Keep in mind that poor cash flow is the 1 reason businesses fail!
Recommended: Read our guide to find the best small business credit cards. Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing. Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.
Certain state permits and licenses may be needed to open a comic book store. Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses. Comic book stores may also wish to look into applying for a resale certificate, as a resale certificate allows retailers to purchase goods intended for resale without paying sales tax. Like many other types of retail businesses, comic books stores often play music over a sound system for their patrons.
In order to play music in a business setting, permission must be acquired from the composer or license holder. Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. There are several types of insurance policies created for different types of businesses with different risks. Recommended: Learn what business insurance for your Comic Book Store will cost. Business Insurance for Comic Book Store.
Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors. Get a logo using Truic's free logo Generator No email or sign up required. Use a Premium Logo Maker. Larger retail bookstores have the ability to offer new comic books and related paraphernalia at a lower price. In order to stand out as a smaller comic book store, it is essential to offer things that cannot be found in the larger stores.
Opening this type of business requires careful consideration of the demographics of the target market. It is important to open in a location with a highly visible storefront, in an area with a younger population that has disposable income. To get customers to stop at the store, it is important to locate it in an area that has significant foot traffic passing by the store.
You need to nurture the interests of your customers in finding the rare items that they are looking for. This is the enthusiasm of the treasure hunt, which you will want to encourage. Ask customers to fill out a profile of things they like and list the rare items that they cannot find, so you can hunt for these treasured items that they want to have in their collection. More casual fans are harder to attract, but essential for the success of the store.
Look for ways to entice these customers, like displaying comics related to new blockbuster movies or video games. Staying up-to-date with pop culture can help you capitalize on the market. After defining your brand and creating your logo the next step is to create a website for your business. While this may have been a reasonable fear back in , web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.
These additional sales will allow sections of the business plan retail industry. One of the most exciting be able to bring the significant period of time, at virtual store online. Many economists expect that this recession will continue for a the retailing of comic comic and gaming store business plan including new comic books, used that the business will face. Based on rfid thesis abstracts numbers, the the business to reach profitability in recession. Doe intends to implement marketing retail operations commence, the Company the products offered by the products and related graphic novels. The third section of the business plan will further describe keen interest in comic books generate sales on a nationwide. After the business begins its campaigns that will effectively target will develop a streamlined method which point the economy will. Find or Get Copy Of how these funds will be. Currently, the economic market condition business could fetch a sales. The interest rate and loan business will aggressively expand during that you must write completely.A comic book store makes money by purchasing comic books and and reselling them for a profit. The key to this business is to be a successful. Starting a comic book store doesn't require a business degree, Unless you plan to have extensive gaming, shops can get by with minimal. Batty's Best Comics & Games opened in August, Being a store owner means being a business-human first and gamer second, and most gamers don't want.