Start with a Movie Store
Movie, video game and video stores are one of the places you know and visit frequently in search of buying or renting a recent or old movie to watch at home, a special video or a video game for our new console. However, against this sector is the ease with which the Internet allows us to download movies to watch from the comfort of our homes, as well as video games and so on.
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However, the possibilities for profitable business are many even at this time, so on this occasion we present a business idea that fits the current needs and market competition that you can consider if you are really passionate about this field.
How a Film Shop works
With a good location we will install a shop that will become our store of films and videos of different genres and variety of content that we will offer to all types of audiences who are interested in them, so they can be from children to adults.
The key for this type of business to work nowadays is the variety of products we offer within the premises. This means that not only do we focus on renting or buying movies, but you can also negotiate by buying your customers movies that you don’t have and that are in good condition, as well as selling collectible items related to movies, devices and accessories for video game consoles.
Operating licenses
As for any type of business, it will be necessary to have a series of legal permits that we will get from the respective entity in charge of it in our city. These permits will allow us to acquire the products that we are going to sell, as well as to sell them and to open the place for the commerce.
Searching for the premises
Before looking for the operating premises, it will be necessary to look for the sector in which we are going to set up, so we must study the potential areas in which we could set up our business and which would bring us greater benefits. A good place would be an area with high pedestrian and youth flow, especially, as well as areas where there is presence of related businesses but not competition directly.
Store equipment
Within what you can offer, there is a great list of possible products and items, such as: movies of different genres and eras, videos of all kinds, video games of different genres and eras, music on discs and cd’s or other formats, movie collectibles, accessories for video game consoles, video game devices. You can even offer services: such as seasonal film screenings in a small space, film rentals, etc.
Others: Now we move on to other types of items that will be equally necessary for our business, so we find: display cabinets, shelves, chairs, cash register, pendants, tables, cleaning items, among others whose sizes vary according to the size and decoration you are going to put inside the store.
Suppliers
Analyzing who will be the main suppliers of the store is an important process that should take your time to be analyzed, this because you must choose very well who will be in charge of supplying the items you are going to sell. Make a list of possible suppliers, the items they sell to you, wholesale costs, delivery times, fulfillment, recognition in the market, advantages and disadvantages, so that it is easier to choose your suppliers.
Store Promotion
To promote our business, besides having good visibility in the sector, it will also be necessary to invest in physical advertising that brings the attention of our target audience. You can hand out flyers and place ads in areas of the site to attract customers who might be interested.
However, we cannot leave aside digital advertising, which will come in handy in this type of business. Among the best strategies is the creation of an online store where we offer our articles to customers in other areas, as well as the publication of projections that you are going to make, etc.
Requirements to start a Film Shop
This is a business that the investor must like not only because of the films but also because of the effort it takes to get it off the ground. Therefore, a requirement to open the business is to obtain a license to rent movies.
The Film License Company must be contacted to purchase a film rental license. Because, if you rent movies without a license, movie producers could hold you responsible for violating copyright laws.
You should also contact a film wholesaler. You must buy the videos in order to rent them. Most
offer DVDs at $3 per title. Unless there is a partnership with a film wholesaler, you can spend too much money to build up an inventory.
Tips for Starting a Movie Store
Create a movie rental website, because you can gain customers by partnering with online video rental companies that offer their affiliates personalized sites. For example, you can create your own movie rental site on Amazon because it offers the movies and order forms that customers need.
The company also provides the code that you can copy and paste into your website. You can customize the whole site to suit the movie rental business.
Expanding your customer base is another tip because many movie rental places offer more than just movies. Some offer songs and downloadable books on tape. You can also offer music and audio books through the Amazon.com custom affiliate site.
It’s also advisable to buy a DVD vending machine because as stores lose customers and close, DVD vending machines are gaining in popularity. Also, DVD vending machines do not require overhead or staffing. The only responsibility includes refilling them as needed with new DVDs.
Advantages of having a Movie Store
One advantage of this business is that you can expand your customer base by offering other options besides movie rentals such as songs or downloadable books on tape. You can also offer music and audiobooks through Amazon.com’s personalized affiliate site, ensuring that the customer actually gets what they’re getting.
Problems that a Movie Store can present
One of the problems that can be incurred is if movies are sold and rented without a rental license because of copyright infringement that can be penalized with fines.
Another problem is if you buy the wrong movies, people break the record, some manufacturers make records that only hold 15 to 20 plays, and you will inevitably have overhead costs.
The ad in the local newspaper, the fliers, the computer used to track rentals and the tracking of people who forget to return movies, cancellation for theft, loss, business license, among other things, all of these are going to be overhead costs and it is not surprising to know that they are not insignificant, and doubly so if you have any retail space at all.
Success storiesÂ
Film Hogar Norte, is a successful company, where you can consult all the releases in DVD, Blu Ray or VOD rental of the week. You can also check out the latest news and movie releases for rent at the video store or streaming on digital platforms such as Netflix, Movistar, HBO, Filmin, Amazon Prime Video or Wuaki, ordered by release date.
Possible problems that may arise: Without a doubt, a strong challenge of this type of business is the technological advances and the facilities that the Internet offers us, so it becomes a solid rival. However, by applying good strategies we could win the battle if we also take advantage of these tools in our favor and move our business forward in a sector that we are passionate about.
Final recommendation: If you really like this sector, you have everything to move it forward, surely with good advertising strategies, you become the meeting point for fans, interested and lovers of this world that you propose in your business, so the potential you have is really great. Don’t let your energy fail and look for customer loyalty as one of your top priorities.