I have started and managed many small businesses, including a language business, a video store and a comic book shop. My first business was a small comic book shop in Pittsburgh that bloomed into a gaming and sci-fi related store, which survived more than 11 years. I decided to start it because I enjoyed the comic book medium, and I found very few stores that really did a good job of reaching a wide audience. The business wasn’t easy to start, but I did it on just a few thousand dollars, and a lot of planning.
The Planning
The idea came to me after seeing some cool shops in New York and Toronto, but nowhere else. The lack of any really imaginative shops in Pittsburgh (or almost any US city) got me thinking and planning.
I planned a lot in the year before I opened, outlining my estimated overhead and inventory. I also got my permits, business license, tax ID number, bank account, and registered my fictitious name (the company name: Starbase One) – all months before opening. The planning stage also got me thinking about store size and how much I wanted to spend on rent.
Pre-Networking
I began networking 8 months before I opened the store. After setting up a web page (one page only), I began creating a mailing list of comic fans. I attended conventions and started making new friends, always directing them to watch for my new store, and taking their emails for the mail list.
The Space
It took months to find the right business space, and many realtors didn’t want to rent to a “comic book” store. Finally, I found a savvy building owner and rented a small space in his mini-mall; in the basement level, but in a good business district. The space was 390 sq. feet, so I had to pack it all in tightly and efficiently. I created a truly unique experience, and made the shop look like something alien and fantastic (more like something from the movies). A lot of effort went into decorating.
Inventory
I began collecting inventory two months before I even had a space. I got accounts opened with a few suppliers, and began buying off their discount lists. The week of the store opening, I had enough to fill 80% of the shelves, and completed inventory in the weeks to follow. I tweaked my orders based on customer feedback.
Marketing
The best marketing I did was at local high schools and colleges. I hung ad posters, and let word of mouth do its thing. Kids like to talk, and the comic fans spread the word faster than wildfire. Within five weeks I had a solid customer base frequenting my store. That’s incredibly fast, and a testament to the power of word-of-mouth advertising.
Customer relations
Nothing beats good service. My staff treated my customers well, and most came back to become regular weekly shoppers.
Advice
The best advice I can pass on: Don’t open a business if you don’t have a passion for what it will do. Bring something new to the table, and it will usually pay off. Niche markets are especially profitable. Listen to other business owners in your industry, their gripes and concerns and always look at your overhead and “bottom line.” Every business has to be tweaked and developed into a success; it doesn’t happen by accident.
More from this contributor:
Building a Solid Customer Base for a New Business
Small Business Hiring Basics
Developing a Brand for Your Small Business
