Re: #25: Reasons Game Stores Fail ( And how you値l avoid them)
You missed one that is almost as big a mistake as undercapitalization...
Poor location.
I knew one entrepreneur who had a marketing background. He marketed the living hell out of his shop, using every trick in the trade. He had synergies with local kids groups, schools, etc. He actual became quite active in GAMA and other industry orgs. He got free advertising in any number of clever ways.
Folded shop after two years. No traffic. He picked a bargain rent place in a completely stupid spot (small non-college town, "back room" with no facade to the sidewalk for walk-ins).
Here in the NYC area, even though it's the densest population per square mile in the nation, square footage comes at such a premium, only a very patient (and perhaps lucky) location scout can find the rare bargain in a viable location.
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- "She said 'You're strange but don't change.' And I let her." Neil Young
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