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How to Build a Video Store Business
Technology has changed the way people watch television, gain access to movies and play games. However, not everyone has jumped on the download wagon. Video store businesses are still alive. Because the competition is more intense, it is important for store owners to learn how to build a video store business. This is how you are going to do it the easy way.
Find a good location for your business.You will need a building to rent or lease that is convenient for consumers. Most people will not go out of their way to a remote location. Business will be better if the location is easily accessible
Consider how much money you have to use for rental space each month.Be certain to factor in utilities.
Begin searching populated and business areas for vacant buildings.Rent or lease one, once you find a prime location.
Stock your business with a variety of products for consumers to rent.Most video stores do well if they offer a wide selection of items. DVD, VHS, and Blu-Ray should all be an option. You may also want to consider renting video games such as those for PS3, Xbox and Wii.
- Consider purchasing inventory from stores that are going out of business. Also look for shelving and other fixtures.
- Get quotes from several suppliers and compare prices for inventory. You will need to find a supplier that offers up-to-date movies and games at the best price.
- Offer consumers the option to rent gaming consoles and equipment.
Appeal to costumers by setting-up a variety of rental options.
- Store memberships with discounted rates are one way to appeal to more people.
- Standard video businesses rent per night. In addition to this method, rent movies and games by the week or for several days at a discounted rate.
- Most stores offer specials or sales to draw in customers. Have weekday specials, old video sell-outs and other gimmick attractions such as "girls' night in" or "free child's rental with adult rental" specials.
Get the latest arrivals while they are hot.Reserve movies to purchase before they ever are released. New arrivals will be your best rentals.
- Purchase several copies of movies that were hits at the box office.
Offer the option for customer to trade in or sell their used videos and games to you for rental.While you are putting money out, you are also drawing in another form of business.
Add to your business by offering snacks, drinks, popcorn, pizza and/or hot wings.
Make your business stand out and make a statement.
- Video store businesses must compete with each other as well as with online downloading and mail rentals.
- Build your business by advertising and making people notice your store.
- Specialize in a particular type of movie.
- Keep new movies as well as older classics available.
- Do not throw away all of your VHS. Most stores will only keep the latest movies and equipment.
- Keeping a part of history alive may keep your business running.
QuestionIs any license required to start movie shop?wikiHow ContributorCommunity AnswerYes, you need a license to start any real shop or business.Thanks!
QuestionIs any special license required to start a movie rental business in South Africa?wikiHow ContributorCommunity AnswerYes, and it depends on what you are selling/renting. Pornography is a big no-no if you are going that way.Thanks!
QuestionDo I have to buy into a franchise or can I start my own store?wikiHow ContributorCommunity AnswerYou don't have to buy into a franchise, but you'll need an appeal that sets you apart from your competition. For example, you could stage events at your store like movie marathons or offer promotions or discounts. Social media can be a great help with getting the word out about your store.Thanks!
I have a takeaway food store and wanted to rent out dvd's do I need to pay royalty?
Video: How to build your online store or shop | In Hindi
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