How to Start up A VideoGame Business like gamestop or Gametraders?

[Jordan]

Like how would i go about getting the money i have at the moment 60,00 dollars would that be halfway there or do i need a lot more?
Thank You 5stars for the top answer!

[Exeter]

To be honest, that's not a good business to get into. You would need to offer a service that customers can't get elsewhere.

Big retailers like Gamestop, Best Buy, etc. have buying power. They have so much market share that they can demand lower prices from game publishers. Your little store doesn't have that buying power, so you can't possibly compete with the big retailers on price. Plus, video games are increasingly being sold digitally directly from the publishers. That doesn't leave much room for an independent video game retailer.

[Mark M]

Small Business » Types of Businesses to Start » Retail Business » How to Start a Retail Video Game Business
How to Start a Retail Video Game Business
by Owen E. Richason IV, Demand Media

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The video gaming business continues to grow as technology advances geometrically. New business entrepreneurs wishing to capitalizing on the growing industry can choose to buy a franchise or open an independent retail location. The former is buying into a proven business model while the latter requires extensive planning. "You'll also need to have a plan," according to CGGC website. "A business plan and a long-term goal plan. Like a six month, twelve month, two year and five year plan."
Step 1
Write a business plan. Have an accountant or professional business plan writer create a business plan. Typically, business plans are about 15 pages, beginning with a one- or two-page executive summary, which are composed of brief highlights, such as earnings projections and customer base. Business plans detail the company's marketing strategy, its operating hours, operating costs, and projected profit over the first three to five years.
Step 2
Get capital. Capital can be obtained through a small business loan or commercial micro loan. Visit the Small Business Administration's website to find a lender and financing product to meet your needs (See Resources). The SBA offers a guarantee program in which the government promises to repay a percentage of the loan to give borrower's leverage in securing startup capital.
Step 3
Lease retail space. Retail space should be able to house display shelves and have a stock room for receiving and unpacking inventory. Most retail space is leased on a "NNN" or "Triple Net" basis, meaning the renter pays for a portion of the building and grounds maintenance, and a small percentage of the property taxes along with a per-square foot lease fee.
Step 4
Buy inventory. Find video game suppliers by contacting various software and hardware manufacturers. Ask for a list and contact information of supply vendors in or near your area. Phone each vendor and ask to be sent a new retailer packet containing ordering requirements and wholesale pricing. Purchase inventory with money secured from your commercial loan.
Step 5
Market your video game business. Create profiles on social networking sites, including Facebook, Twitter and MySpace. Send out opening soon announcements along with a sample of inventory titles. Send press releases to local newspapers and distribute fliers in shopping malls. In addition, create a website and register it with search engines to build an Internet presence.