excelsior!
What is this, some kind of hoax? Or dream? Maybe an imaginary story?
Think of it more like a retcon.
Other than, of course, don’t.
I’ve owned and sold several businesses in the past, but never a retail store. But the owner of one just asked if I’d be interested in discussing it. A first look at the books looks OK, but there’s a lot more to be done, due diligence-wise.
Thought I’d ask.
Another thanks for this correction.
What do they sell?
I know this is a zombie thread, but it’s really strange for me to read this, since I worked in customer service for Hero’s World, and then Marvel when all of this took place. It was a weird time.
Makes me wonder what happened, as I’ve seen 3 or 4 comic books stores close since the OP posted.
It’s, believe it or not, a game and comic shop. They’ve been in business for more than 35 years and seem to cash flow well. They sell, games, comics, books, dollars and other various geek-oriented items. There’s also a space that a dojo rents.
Color me surprised.
Curiously, just this afternoon I had a discussion with the owner of the largest comic shop in my city. He’s in his 60s, has run the shop profitably for more than 35 years, and wants a buyer. He pitched me. I told him I’d think about it.
I am, seriously, tempted. I’m between businesses and writing financial columns for The Motley Fool. But I know that’s just a temporary thing.
The place currently supports 4 employees and the owner and his wife. It is the local gaming and geek hang for this half of the city.
It sells:
Comics
Games
Collectible card games
RPG stuff
Fantasy craft supplies
Statues and figurines
Books
Weapons
High-end collectibles from movies and such
Hosts cons
Hosts a Dojo
I am seriously considering buying him out. At least I’m considering launching a due diligence check.
But any advice from people who’ve been there, or run another retail store, would be appreciated. I’ve built, owned and sold several firms over the last 20 years…just never a retail shop.
Wait, there’s a zombie about this right now… Ah, here it is :
http://boards.straightdope.com/sdmb/showthread.php?t=288952
At this point, more than half of the thread is from the last couple of days, so there’s likely some relevant info.
I just saw that and posted in it. What a freaking coincidence, right?
I think I’d see what portion of his income is from selling comic books, Jonathan Chance. As Drastic quench says, it seems likely comic retail sales will continue to shrink as its the kind of thing that’s ideal for digital formats. So if comics are what’s keeping him afloat, it’d probably be a bad investment. If he makes most of his money off magic cards and RPG figurines and the like, then maybe it wouldn’t be such a bad plan.
Yeah, there’s a long way to go, but it has my attention enough to maybe go from
“Hmm, that’s nice”
to
“Weeellll, that’s interesting. I wonder if I can get it cheap.”
Here’s a pic, for the FB inclined.
Near as I can tell, comics make up a small chunk of it. Only maybe 30 titles are available in single issues, though he’ll subscribe to anything you order. There are two solid racks, maybe 60 linear feet, a trade paperbacks, though.
Yeah, the bottom line is that you have to sell stuff where the money is (Pokemon to kids with their mom’s wallet and endless tabletop gaming stuff to suckers) to stay open. I can’t imagine there’s more than 100 stores in America that actually support someone’s living expenses on comics alone. It seems a lot of the comic-only stores are either owned by someone who is in a position to not sweat their bottom line or lucky enough to get a captive market like a large college campus nearby.
I asked the owner about that. There are three colleges not too far away, and two military bases. I’d wager anything he draws significantly from the military bases. There’s always uniforms (with young men in them) in there.
Is the owner just looking to retire? Or is there another reason for the sale?
Merged duplicate threads (one each from MPSIMS and Cafe Society) and moved to our advice forum, IMHO.
That I don’t have the answer to, yet. Though he’s gone on in the past about his age. He’s an aging hippy in his 60s and does seem ready to go. There’s a son on stage, who works there part time, and a third generation (about 10) who hangs out. But the son doesn’t seem to want it.
Again, I’ll have to look at the books carefully. But I’d do that anyway. I always have.
Does the owner know and speak to a lot of the regular customers?
If he does, once he goes, a lot of the appeal of the shop may go with him for some people.
However well you do stuff, for them it’ll never be the same as when old whosit ran the place.