Penciler – This person takes the script and draws the comic. Also discuss your plans for making first-time customers repeat shoppers. You want to really show that you have planned things out and that you know what you are getting into, as well as showing that you have plans to make the business thrive and even surpass any competition you might have. Of the final cover price, I know the biggest chunk of it goes to the location selling the comic itself. Who are your neighbors? Net profit margin is the proportion of profit earned from the revenue generated. Remember that if you are using this business plan to get a loan or establish credibility with distributors, landlords, investors and your in-laws, you will need to discuss these things with them because they might not understand what in the heck a comic book store does. Try to answer all of these questions in this section of your business plan. So, I’d say yes, you should have a business plan. It is also a tool for you as a future business owner, laying down the foundation of how you plan to start this little venture and how you intend to keep it going in the future. Calculate Korey's monthly net income. And check back in a couple of weeks to learn more about starting your own comic book store. Getting a loan is probably the biggest reason most entrepreneurs do a business plan, although not the only reason. Everyone at the various stages makes a profit. Image Comics Launches Mail-Order Service: A Threat to Comics Ecology? Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. This helps you keep track of who has a copy and lets the person you gave it to know you’re keeping track so the information doesn’t get shared. Margins and Profit. From Passion to Profit: 4 Tips For Opening a Comic Book Shop. He enjoys solving problems and salteñas. Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. In a future column, I will give some advice and warnings on acquiring the money to start your new comic book store. Also include a three, or preferably a five-year cost analysis where you discuss your projected expenses and profits. I also plan on discussing some tips on choosing a location, stocking your store and other important details for anyone considering opening a comic book store, so stay tuned. What do you think is more well known and why, Pokemon or SpongeBob SquarePants? This Week's Features Once I liquidated my massive inventory of 3,200 comic books, I had done over $17,000 in sales with a final profit of $8,986 to fund my startup — and a great story. Next, you should give a numeric discussion of the comic book/pop culture market. Once again, use real information that is as current as you can get, and cite the sources for the data. 2. At a 5 percent margin (which is the high end), a store would need $1 million dollars in revenue to make $50,000 in profit. “Do I need a business plan?” you might be wondering. Calculate Korey's monthly net income. “How do I write a business plan?” you say. Now, move on to what you’ll have on the inside of the store. If his store makes $12,000 in profit during the first year, and profits increase by 6% each year from then, how long will it take for Korey to see an overall profit in his business (where total profits exceed total As you can see in the above example, the difference between gross vs net is quite large. Posted: (5 days ago) Once I liquidated my massive inventory of 3,200 comic books, I had done over $17,000 in sales with a final profit of $8,986 to fund my startup — and a great story. If you look in the telephone book, there are probably people in your area who offer business services like writing a business plan, and you could give them your information and pay them to write a professional business plan for you. This column’s information will largely come from what we did to open Neptune Comics, as well as a few things that we did not do that we later wished we had. But often a 20% off sale is not enough to double the sales volume. #3 — Original Comic Shops, Comic Book Retailing Part 7: Common Questions Answered. Join Yahoo Answers and get 100 points today. When the books sells to a customer the store then makes a $4 profit ($10 – $6 = $4). (Star Wars: The Mandalorian) I'm confused, I thought Luke Skywalker was the last Jedi, so why are there still other Jadi(s) still alive. Why were the reporters gushinig ga-ga over every aspect of the Inauguration from images, Bernie's gloves to the shoes of Kamala Harris? His store will cost $12,500 to open and will come with a $8,000 total annual operational cost. Korey's monthly operating expenses, including labor, are $875. Including other things like schools and freeway access ramps is also a good idea. If so, what is it and who will get it? If you acquire a collectible comic book for $10 then you would want to sell it for $13 or $14. The difference between buying comic books to sell for a profit and buying comic books to enjoy as a collectible is the part when you have to sell. Please note that these predictions are weighted toward having higher costs in comparison to revenues in case unexpected hidden costs arise. While stores can get 35% to 57% margin on the comics they buy from distributors, most stores are at the 50% range. You should be prepared to provide a complete financial detail of all of your start up costs, including: build-out and repairs, fixtures, merchandise, any rent you pay before you open, initial marketing, etc. Inker – The inker ink… What better place to look but they haven't looked there. At his comic book store, Korey's Comics, Korey sells approximately $3,250 in comic books each month. Once you finish your plan, be sure to have several people proofread it. Try to get traffic counts for the street(s) that pass your location, and include those in your plan. If they overestimate, that's money down the drain. In my earlier columns, I explained what I think are the basics of business ownership: taking some basic business/entrepreneurship classes, understanding ethical business practices, and understanding the personal and financial demands. Prior to becoming a comic book retailer I was a stock broker, and then gave up that stress to own my own house cleaning business. A brick-and-mortar bookstore has a profit margin in the single-digit percentage points; here’s a table of data for several chains in 2003, in the 2-5 % range, and here’s the Retail Owner’s Institute data for independent bookstores 2005-2009 (click the “profit” tab for profit margins); for 2009 the average pre-tax profit was 1.7% (up from a miserable 0.4% in 2008). Like other retailers on the high street, comic shops must factor in rents, business rates, staff wages, insurance – but the profit margins on comics are … I'm afraid realistic reporting and investigation of the heath care issue has been lacking in the whole debate. Can your customers pre-order items? It also answers critical questions about your business, such as whether products are priced correctly or if … Showing a business plan to a landlord can demonstrate that you know what you are doing, have a plan to make money to pay the rent, and intend on staying in that location for a while. Marketing is the next thing to discuss. Are the residences within a three-mile radius young families or retirees? That all takes a pretty good chunk out of it, but then you have to remember there's also a second source of money other than the people who pay for the product, and that is the advertisers who buy ads in the comics. How much parking will your customers have access to? Comic circulation is not as big these days, and so you'll often see comics filled with "house ads" (that is, adds in Marvel comics for other Marvel comics, which they make no money from but which will add business to their comics) but you still have ads for television shows and the latest block buster movies, as well as ad campaigns such as the anti-smoking and anti-drug ads and the milk ads. When you look at all of the costs that go into making, distributing and marketing a Marvel/DC comic book, how much of the cover price is actually profit? The next thing to discuss is the specific details of your market in the area where you want your store. Be sure your numbers are realistic—don’t just make them up, and cite your references in the business plan. It depends upon where you are located. Mel Thompson, who I’ve mentioned in previous columns, can also be hired to write a business plan for you. Margin is the percentage difference between the cost basis of a product and the selling price. Use spreadsheets, and refer back to charts and numbers used earlier in the plan. I grew up in Slinger, WI, the child of entrepreneurial parents who owned their own dog breading and boarding kennel. Let me begin this column with an apology. ... Anime & Comics Tagged With: comic book store, location matters. What kind of signage will you have? Acquiring used books for free and re-selling is better for margins but the time investment is significant unless donors come to the store directly. But as a comic book dealer, Korey only pays $1,285 for these comic books. Fast Growth The Secret to Retail Store Profitability How one retailer discovered the secret to expanding from three to 15 stores profitably. Who will win? Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. How will they affect your profit? Understanding profit is simple; it’s the pure income generated after all expenses. At his comic book store, Korey's Comics, Korey sells approximately $3,250 in comic books each month. Gorr the God Butcher vs Justice League and Avengers. The first in my family to graduate from college, I earned a BA from St. Norbert College. You’re wondering, “What do I talk about in this business plan thing?”. Online content, on Lisa Lopacinski 's author page, I earned a from! Merchandise, but décor and employees small store in a couple of weeks to learn more about starting own. Owned their own published data, the better first in my family to graduate college! 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