11/27/2023 0 Comments Trading card store![]() Short, unique, and catchy names tend to stand out.Here are some ideas for brainstorming your business name: You probably want a name that’s short and easy to remember, since much of your business, and your initial business in particular, will come from word-of-mouth referrals. Your business name is your business identity, so choose one that encapsulates your objectives, services, and mission in just a few words. Ready-to-use space with no major renovations or repairs needed.Flexible lease that can be extended as your business grows.Ventilated and spacious, with good natural light.Central location accessible via public transport.When choosing a commercial space, you may want to follow these rules of thumb: You can probably always run your business from home, but if you do ever need an office, you can find commercial space to rent in your area on sites such as Craigslist, Crexi, and Instant Offices. You should spread out your marketing to include sites like TikTok, Instagram, and Facebook. Your target market will be sports fans and collectors, which is very broad. Remember, the prices you use at launch should be subject to change if warranted by the market. Once you know your costs, you can use this Step By Step profit margin calculator to determine your mark-up and final price points. You should aim for a profit margin of about 70%. You’ll need to check market prices for each card. Prices for sports trading cards vary greatly. How much should you charge for sports trading cards? In addition to sports cards, you could sell game cards like Pokemon cards. You need to determine if you want to specialize in a certain type of cards, or if you want to offer a variety. What? Determine your products or services This could jumpstart your word-of-mouth marketing and attract clients right away. You might consider targeting a niche market by specializing in a certain aspect of your industry, such as baseball cards or football cards. ![]() With annual revenue of $183,000, you’d make a tidy profit of $130,000. As you acquire more valuable cards, your average prices could climb to $100 and sales to five cards a day. This would mean $51,000 in profit, assuming that 70% margin. ![]() In your first year or two, you might sell four cards a day, bringing in $73,000 in annual revenue. These calculations will assume an average per-card sales price of $50. In the current market, if you find good cards, generally older cards, you can probably earn a profit margin of about 70%. How much can you earn from a sports trading card business? Setting up a business name and corporation The bulk of the costs are for a website and a trading card inventory. Startup costs for a sports trading card business range from $3,000 to $7,000. How much does it cost to start a sports trading card business? ![]()
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