If you love gaming and video games and want to make a career out of your passion, you might consider setting up your own new and used gaming store. However, a popular option for gaming store owners in 2020 is to sell their wares online. If you want to open a video game store and set up the venture of your dreams before the holiday season, here’s how to go about it.
Sell on Amazon
Although many entrepreneurs believe that setting up their own website is the best option for selling video games online, you need to find the right platform for you. If this is your first business venture, you should consider selling on a third-party platform, such as Amazon. If you intend to do this, you should first use an Amazon product research tool that can help you find out the popularity of the items you are looking to sell, the competition you are up against, and the kind of profit you are looking at making annually.
Build Your Inventory
Once you have found the perfect platform for your business, you then need to have products to sell by building up your inventory. This can be difficult when you are starting a business from scratch with only a small amount of starting capital. In terms of finding new video games to sell, you should speak to wholesalers and get in direct contact with brands to find out about how you can stock their wares within your store. When you are looking for second-hand goods, though, you need to connect with customers who may be willing to donate their old games to your store. You can do this by advertising on social media and offering incentives, such as a cash reward or game exchange service.
However, you should know that there is a vast selection of video game sellers and resellers on the market, and this means that you need to make sure that your brand stays unique. This includes making sure that your brand has a different perspective than other companies and can offer your customers something unique. This can be in terms of your business model, your company values (such as having an eco-friendly focus), or simply your target audience (are you focusing on teenage gamers or vintage collectors?).
Work Out Pricing
When you are juggling both new and second-hand video games, though, you need to focus on your pricing and make sure that you have worked out an exact pricing structure for your goods. This is especially the case if you are selling old video games or SEGA memorabilia, which could have sentimental value as antiques. Some of the best steps that you can take to work out the price of second-hand goods is to check the current RRP or what your competitors are selling their goods for and then making an allowance for compromises and customers who are looking to haggle for a lower price.