There's an entire continent out there with no card shops, and nothing but nerds and smart people with nothing to do. Obviously Antarctica is the largest remaining untapped market and I can't wait to start my new store.
@@jb90467 if rudy didn’t want competition he wouldn’t be doing youtube videos at all. what rudy is explaining are simple fundamental business concepts with the core lesson that it is very difficult to set up a new shop without losing a ton of money and stress. as a business owner and investor myself everything he is saying is not only true but obvious to anyone with any business experience at all. the fact that people dismiss it as rudy lying to you to enrich himself just shows how far they have buried their heads in the sand.
Yeah, a commoditized product that's big and bulky. Just printing a label, packaging it up, and shipping it for $5/box profit doesn't sound exciting. When you add in fraudulence and chargebacks... yikes!
@@Slasherx28 It was pretty basic, 17 pages laying out competition, assumptions, income projection, everything a small-business plan needs before securing a loan. What killed it is even my optimistic projections saw me with an average $1250 to pay myself with monthly (Christmas being the outlier buffing that average), and unless I lived in the backroom of the shop that wouldn't leave me with much to go on. So, yeah, it was insightful, in that it was not a good idea and this was back in 2005. 'Love of the game' cannot pay rent, food and fuel, after all, let alone auto & health insurance.
Card shop alone is a dumb idea. A lot of the successful "card shops" venture into video games, media, figures, EVERYTHING, and the card inventory isn't really the focus usually.
I run a gym and the same thing applies; I was laughing like a maniac when Rudy says the $19 has to "attack" that 7K; it's exactly like an RPG boss battle lmao. Great stuff Rudy!
Been there, done it for 6 years, got burned out on it. But now I am thinking about saving up and doing it again at some point. It was a dream of mine to have my own hobby shop and I did it! Loved it and I miss being my own boss. Made a new channel, got a new logo just in-case I decide to do it again in the future. Definitely buying my own place next time around. I am going to save for that.
The first company I owned I worked more than 90 hours a week. Yes, we were going on vacations monthly; three day vacations and the whole time on vacation I was checking my email, trouble shooting problems with employees, paying bills, billing customers, making future plans and making the wildest things happen for my company that is too bazar to explain here... trust me a large payroll is a job all by itself the stress is maddening. Oh, my car was a prius with over 100k miles and I still drive a vehicle with over 100k miles.
It's wild that the man that constantly makes Step-Sister jokes, is also teaching me more than my business classes ever could in. Thanks for bringing white board Rudy back. Also, hope you didn't mean to cut off at the end, and there's a moral to the story. TY Mr. Tacoman
Dude, this was a hell of a video. I've watched tons of your box openings and some of your side chats,this one takes the cake. I really hope you make more videos like these because it's a great way to show people how to think and what to think about when it comes to mental shifts when you want to run a business. Please make more videos like these.
I opened a card shop and made money. Not by selling cards, but when I sold the property. If you want to open a shop, my experience is buy the commercial property first to reduce overhead. I barely broke even on paying the electric bill and it being just me and my friend (co-owner) working there. Selling the building was the only profit we made above $100.
This is exactly what I was thinking. I want a store, but if I did open one I want to own the building. That way if it fails, and there is a better than average chance it may, at least I can sell the building and probably break even.
Bro, 7 years ago had the same 'fictional'. There was an actual establishment available for 230k on industrial terrain. I wrote a succesful business plan and gratuaded on it. I purchased it (fictional). Got 128k mortgage, 50k loan from family and put in 50k myself. Even in the worst case scenario analysis i could've sold the property for 500k now, 6 years later and all wouldve been at least 'not bad'. But in my opinion it would'nt be the worst case. I would've made a lot of money along the way obviously otherwise i wouldn't have purchased it.
Your videos are not only helpful for cardshop. I’ve opened a bookstore (profit since day 1 ✌🏻) in Denmark, and your perspective and lessons have been immensly helpful
This is the reason why I continue to support your work for years on end, sometimes you drop a real gem 💎 of a video where you share some real info that Pit falls to buying sealed products. Great work on this.
Keep doing these videos! As a university finance educator, these videos hold immense value. Reaching 21K views and counting, they provide crucial information for potential business owners. I'm a simple man; whenever someone (remembers to) point out the opportunity cost, I get happy :)
Years ago I considered starting my own business. Not a card shop, but the same basic principles apply. I did some super basic number crunching like this and decided there was no way. I'd have to work my ass off and get extremely lucky every month just to keep the lights on and break even.
Haha the random cut off at the end. I randomly found your video and appreciate the honesty. The last section is what I am going through at the moment. Have a standard “9-5” job and a side business selling items on Ebay. And you need to dedicate a shit ton of time and reg life gets put on the back burner. I literally don’t do any of my hobbies (fishing, video games, hiking, etc) anymore. All of the focus needs to be on the business and the remaining time on family, reg job, chores/errands, etc
This is exactly what happened to me. I had aspirations of opening a card store when I was younger. I looked at the financials and I couldn't make sense of them. I was working a 9-5 which turn into a side hustle for cranberry farming which has turned into an agritourism business. While my dream of opening a card store is dead I've found my side business and still get to enjoy Magic with my friends and local LGS. Rudy, you are spot on with this video. If you want to be an entrepreneur find a problem you love and only you can solve and go do it - hustle, hustle hustle. Don't make your hobbies your business-- it will destroy your financials.
Store owner here. So much truth here. It’s a low threshold business that many folks think they can easily do. The ones who have stood the rest of time often have special circumstances that made it happen. It is a tough business, for sure.
@@cheder6I have an excellent staff and I attract a customer base that understands that margin on inventory is what affords well trained employees and smooth operations. It also helps that I own the shopping center in which my store operates. That said, the store still pays the holding company substantial rent.
I remember the first few videos that I watched on this channel. I was relatively financially responsible, made some money while in school, got my first credit card to build a credit history, paid off a couple grand loan, graduated got my first job when those first few videos were coming out. Spent the next few years using what I learned here to stay afloat as the reason for the loan earlier kept needing more and more as life events public and personal kept rocking the boat. Kind of sitting here thinking back now that I have a better paying job, that reason is no longer around, and I have a relatively stable position in life... it's been a ride but I'm glad Rudy puts up these videos.
I started Magic in 4th edition. Left/came back a few times, last time I played/collected actively was Kaladesh cycle. I still watch Rudy because he talks about the business. Top tier content, bucko!
I work in finance and while this is very simplified, you raised one point that is rarely talked about is risk.Everyone hears about the success stories but rarely how owner may have barely been able to pay their own bills before success and it can quickly go back unless it has engagement.
Love this. Didn't realize the profit was so close on cardboard. I used to deliver for UPS and asked how stores like Brass Buckle could keep clothing for a week or two and if it didn't sell they would ship to a different location. Well from what I was told they make 80 to 90% profit margin on the clothing. I know some other business' generally deal with 30 to 40% profit. So yeah I can see how cardboard can make the small guy fail at only a 10% margin. Sounds to me like Hasbro just is trying to screw the little guy. Keep them hanging on strings.
If your play group isn't rich and dropping thousands on sealed product every month, your store isn't going to make much money. The owners of my lgs have full time jobs to support the store. It's a passion, not a gold mine
And typically the people most addicted to the game are also the ones whose lives are in shambles. I knew at least a dozen people at my store that would drive shitbox cars, living with roommates and yet had tens of thousands of dollars of a MTG collection. Clean your room, people.
I was loosely involved in the overall hobby industry about 20 years ago. A lot of the guys publishing module books weren't making much if anything either but loved the product.
Great business advice Rudy. For a name (12:46) some UK folk will remember the TV comedy 'Only Fools and Horses' and their 'Trotters Independent Traders' (or T.I.T. for short)...so we could have 'Timmy's Independent Traders':) Cheers.
even with the abrupt ending this was a very informative for people who want to (blindly) open a business of any kind. I managed to solidify my own business nearly 10 years ago and I still remember my stupid teen me trying to open all kinds of things without any idea of what I was doing. I'm glad you're doing whiteboard vids again, they're really good and fun to watch
I live for these videos Rudy! Your knowledge took me from a dirt poor Timmy to someone who has a savings account for my daughter's college. Thank you bro I owe you a lot.
I GREATLY appreciate your blunt-ness when it comes to these things. and explained very well, I might add. I think it's easy to have rose-colored glasses for things you love, but like in all things, once its a business-it's work.
Thank you for this video. There's always been this itch in the back of my head wanting to run a board game/hobby shop. This is the realism my lizard brain needed to hear.
I fell into an opportunity and started my own business. Anyone under the delusion that the owner gets to kick back and fat cat it, especially if you are providing a service based business is in serious delusion. Completely agree Rudy, when you hit that stage all bets are off, normally rules and times don't apply, you are 7 daying it if you want to make good money.
Like literally every small to medium business. I honestly don't understand how people throw away half their life in form of debt or savings thinking they are set opening a shop for cardboard and have an easy way of making money. Especially from 2-5 different games alone. If we take it head on and say you make average 15% margin, which you probably won't, i doubt the business is in any way profitable, even if it benefits you in other ways. You have to turn sales to continue and the competition is fierce because there's always a dead--channel-cardshop-snowball that is gonna undercut the small businesses by a lot. Now without recurring regulars that are actually buying their boxes at your store, aside from going to your events, you won't make it while having to support and sell a ton of games to just be a viable store for the normal customer. At least that's what i have seen and heard over the last year from people in the biz.
Thanks Rudy. This should be required watching for anyone who is seriously considering this in any year. Sadly, the concept of “Community”was destroyed by social media when “Friends” become people who click a button and started spamming each other with updates on the things in their lives no one needs to know.” A more accurate term would be, “Marketing Group.”
These videos are you at your best. So many people out there have no idea the margins and capital required to succeed at running a business. Not to mention the risk involved. Our schools are a disaster and not teaching what kids really need to learn to succeed. Keep these up!
I know rhese videos aren't popular, but honestly, the whiteboard videos are by far and away my favourite. Thanks for putting up with the trouble and still doing it! edit: it also ended very abruptly lol
Thank you Rudy for the great whiteboard video! Slight bummer the video cutoff. However, I knew where you were going with it. I've tried my hand a fair amount of times hustling and ownership once. It is real hard! And yes they all failed. But each time goes a little farther. Gotta take those shots to hopefully score in the long run.
This is the best channel on youtube. Rudy is literally no BS, even answers the phone for tacos later. If I wasn't a fan of magic I would've never seen this channel is what makes me sad.1 Edit - What happened to the end of the video!?
Great video Rudy! As a business major I loved the detailed breakdown. I hope people looking to start their own card shop / LGS find this video and watch it through. Lots of food for thought.
As someone who just last year in January started selling cards online, this is all true. I wasn't planning on opening up a physical store or anything, but wanted to sell cards cause I like collecting them. So figured I'd buy a case or 2, whatever I can, open a box for myself, sell singles I don't want and selling the rest sealed. Nothing grand, just simple (least for now) and am just trying to make $10 after shipping and fees on TCGP. I haven't bought many sets yet, but the SINGULAR set I have made ANY sealed product sales on at the moment is the Mushoku Tensei WS set (not counting a couple boxes someone I know bought from me). Everything else has dropped and my sale prices are like $20+ more than the lowest prices so they are more than likely not selling any time soon. Only reason I am okay just sitting on everything and waiting (hoping) they go back up at some point is because I didn't buy anything on credit and don't have payments for a physical store.
No shave Rudy hits different. It’s dirtier, grungier, gritty. Dark light suggests he’s giving up being the good guy and slowly turning into the chaotic evil the MTG community needs.
I don't know if I can trust any info from Whiteboard Rudy if he isn't wearing the pink visor. If No-Visor Rudy tells me not to open a card shop, that must mean Visor Rudy would tell me to open one. Timmy's TCG Tradepost coming soon™️ On a serious note - thanks for doing this Rudy, we *_love_* these videos.
I love you creepy taco guy. I started watching ur videos 3 years ago then I finally bit the bullet and started to sell cards online through facebook market place in my area last year September. In my first 3 months I made $97 net profit. I adjusted approach and now I make $270 and $400 a month if its a new Pokémon release. I still work my fulltime job and honestly I think I would make more with a part time on top of my full time but I just like selling cards to people.
Man I’m so happy taco man put out this type of video. All these locals think I’m the fed and printing like crazy but this really shows people how tough running a shop is. The one thing that really needs to be stated on is the taxes on top of said profit...
Yeah your right, but what Rudy is trying to say is cardshop life is especially bad. Same thing with opening your own restaurant. A very successful exec. chef/ manager said to me his favorite thing to make is the one that makes him the most money. If you are going to start your own business pick one with a good risk/ reward unlike a cardshop.
@@powerlifting1012 Restaurant is a different business-model, no? Trading cards are a luxury item, food is an every-day item... it's like being a hair-dresser, hair doesn't stop growing in a downturned economy. Everybody gunna need to eat food, whether or not the acconomie is up or down. A card shop is basically a hobby industry, like running a comic book shop or a wargaming store.
Love these videos, I know it’s cliche but Rudy has really taught me some great financial practices over the years and a mind set of building for the future. I wish schools taught a lot of these things. Thanks for the hard work man
This needed the pink visor.... I'm sad :( EDIT: You were aware! I was too early posting this. Doesn't matter Rudy! Will wait a bit longer on the return of the infamous PV!!
whew that's the longest video that i have watched from this channel its a MASTER CLASS for anyone who like to learn from you, thank you for the time and effort, we really appreciate it :D
I'm very happy years ago you convinced me not to open a shop. Instead I did a little remodeling in my garage and I just run a little magic League out of my garage. It lets me feel like a card shop owner with out the over head... now I couldn't tell you how legal it is but that's my advice if you want to give it a try.
I work for a shop owner and I didnt put alot of this into perspective until this video. You make a good point on, paying employees, hoping that the profit line is higher than the payout of bills, rent, utilities, employee wages etc.
FNM and other events, sell snacks and diversify what you sell like what ebgames /gamestop did to survive. Bum just like gamestop, the end was inevitable and not sustainable :(
@@4ksandknives spot on. The money isn't in the card boxes. Those are loss leaders. Any chance of actually making money is through events/snacks/drinks, and other products besides cards.
Video ended perfectly. As someone who started their business with my brother after watching and being inspired by Rudy’s videos, I can say that everything in this video is spot on… once you make it, you really are looking around saying how in the hell did I get here. As always, well done sir with the video. Bearish Cases may one day make acrylic cases for your pallets. 😂
Love you made this like a week after I asked you questions about this. Liking it so far minus the business plan info. Gotta have a structured plan in order to have higher success, but we aren’t made to agree on everything. I’m within 3 hours from you in Florida too. Appreciate all the content you create and subscribe to your patreon
The last part is so absolutely true about the hustle. I'm lucky, making about $140k at a full time job. Started a side hustle. Broke even for 4 years, then suddenly it started paying off. First it was a few hundred a month, now it's over $10k a month and climbing faster then I thought was possible. In retrospect, all the work and a lot of luck helped make it happen, but it is a total mind f**k to go through it and see money start to actually roll in. I'm still working my regular job as the pay is high, but if I am really lucky and things keep going at some point this whole thing might flip on its head. It is all totally crazy. Who knows what will happen. All I can say is just keep plugging away day after day after day and something will happen.
I really appreciate the legit perspective on card shop ownership, it's really good to hear someone with a solid head on their shoulders lay it all out in a no nonsense way.
@@venice2823 you can read minds through the internet and know they got nothing else from this video? Damn, you'll have to teach us how to do that with some sort of amazing course for the low low price of £420.69 a month.
If you were paying attention he's describing two _very_ different paths to business ownership - the first being the clueless person with a bunch of cash who suddenly decides to set up a business doing what they saw on the internet and gets bogged down in 'business plans' and terminology; the second being the entrepreneur with a secure regular job who tries several side hustles until they find one that *really* works. Those two paths to business ownership are vastly different, have vastly different results, and are at vastly different levels of risk. They are not the same. So, no, there's not any irony to be seen here, because Rudy's mocking the artificial business attitude vs the actual entrepreneurship fundamentals.
It got me at first as well haha But I think what he was going on about, was that in cardboard life volatility is very high, the amount of capital needed to start out is rather high, and regular margins on the short term are usually rather low. So it's nonsense to draw out a "typical" business plan (as he demonstrated) & that one needs to be very aware of the downside risks coming with the opening a LGS or an online card vending business (or a combination of both).
One of the best things one of the card shops here did was partnering with a grading company (the only one in the country) and they take a small cut for people to send things up through them. Helps with the stress of doing all the forms etc, but most of all they allow you send a single card that way. Win Win for them both.
Love living the risk free worker lifestyle! Such security! Okay well time to get a new job Well I spent my entire savings and I'm in pretty big debt but if I can just hustle and work 60 hours a week I'll be able to stop the bleeding so I can find another job to work 80 hours and break even 😅 Risky owners vs lazy workers is such a Timmy mindset.
This is kinda also implying the worker isn't helping with anything in the back and just sitting down watching an empty shop because everything is being sold online.
If you are working in a card store you've probably made a series of unfortunate decisions to get there. Chances you're a cat-owning redditor also triple.
It would be cool to see a video like this but instead of opening a brick and mortar shop, ones where its run out of the persons house while working solo.
Unless you are selling strictly online you are going to have issues with your local zoning board real fast like. You better make sure you read all the residential and commercial ordinances first.
As a trader who’s in the stage of still being employee 4 days a week and after 3 years my side hustle becoming more and more successful, I wish this video was complete and about 20mins longer 😅
I love these vids as it's real talk no smoke and mirrors it shows how businesses work and some great advice always a great listen while working on your own little Empire
I opened my store during the pandemic and it’s very successful atm. However, I had a gimmick, went the membership route and sell both miniatures and ccgs. High income customers are essential, you can’t succeed on struggling college kids
Personal trainer here, I travel to people's houses. My clients are all six figure folk; you need to charge enough to not only make expenses, but also profit enough to invest.
13:09 Bro Rudy I see that Lav mic let's friggin gooooooooo🎉 If you wanna use it closer to your collar you can maybe turn down the gain on whatever the mic is plugged into Im assuming its not in a mixer and is plugged direct into your camera so idk how specific you can dial in the sound but wanted to give my advice. Pro audio quality regardless dude, straight up.
There's an entire continent out there with no card shops, and nothing but nerds and smart people with nothing to do. Obviously Antarctica is the largest remaining untapped market and I can't wait to start my new store.
When i get there youll have at least one solid patron.
Antartica is a closed country. It takes a permission to get there. Even harder to stay there.
Taking snow mana to a whole new level
@@servalkorion686 XD
@@OdinRules-c7j you're hired! Def gonna need a logistics manager.
Rudy's Guide on how to open a Card shop.
Step 1; Don't.
💎Alpha Ruby Timmy's investments 💎
thats because he doesn't want competition.
@@lalolanda2239you really don’t understand business do you
@@castill1 what makes their statement wrong? genuinely curious
@@jb90467 if rudy didn’t want competition he wouldn’t be doing youtube videos at all. what rudy is explaining are simple fundamental business concepts with the core lesson that it is very difficult to set up a new shop without losing a ton of money and stress. as a business owner and investor myself everything he is saying is not only true but obvious to anyone with any business experience at all. the fact that people dismiss it as rudy lying to you to enrich himself just shows how far they have buried their heads in the sand.
My best moment of this video is "You start with 50k" and then proceeds to buy 300k worth of LOTR set to put business in black numbers
he didnt write that though he did the 30k option x 100 boxes
@@MrTranzformer1it all makes sense now
you've convinced me, I'm quitting my job tomorrow and going all in on a card shop. thanks rudy
Same, wanna go in halfsies with me and try to get a loan from our parents and grand parents?
@@missingnumbercollectibles so down!
yes we can do it together
When the world most needed him whiteboard Rudy returned
Hell yea you hyped for the weiss Avatar the last Airbender ?
Amen 🙏🏾
I wrote a card shop business plan for my BA degree. The conclusion was the shop was not going to be profitable.
Yeah, a commoditized product that's big and bulky.
Just printing a label, packaging it up, and shipping it for $5/box profit doesn't sound exciting. When you add in fraudulence and chargebacks... yikes!
I would love to hear the details and also considering you wrote it for your degree, it must be very academic and insightful!
@@Slasherx28 It was pretty basic, 17 pages laying out competition, assumptions, income projection, everything a small-business plan needs before securing a loan. What killed it is even my optimistic projections saw me with an average $1250 to pay myself with monthly (Christmas being the outlier buffing that average), and unless I lived in the backroom of the shop that wouldn't leave me with much to go on. So, yeah, it was insightful, in that it was not a good idea and this was back in 2005.
'Love of the game' cannot pay rent, food and fuel, after all, let alone auto & health insurance.
@@keywacatawesome. Thanks for the details and posting this. Very interesting!
Card shop alone is a dumb idea. A lot of the successful "card shops" venture into video games, media, figures, EVERYTHING, and the card inventory isn't really the focus usually.
I was so tied and tuned in…..then it cut off and snapped me back into a cold reality at the end
Cold Snapped!
same, i rewound it
I run a gym and the same thing applies; I was laughing like a maniac when Rudy says the $19 has to "attack" that 7K; it's exactly like an RPG boss battle lmao. Great stuff Rudy!
What kind of gym?
Been there, done it for 6 years, got burned out on it. But now I am thinking about saving up and doing it again at some point. It was a dream of mine to have my own hobby shop and I did it! Loved it and I miss being my own boss. Made a new channel, got a new logo just in-case I decide to do it again in the future. Definitely buying my own place next time around. I am going to save for that.
Summary: Don’t open a shop. Buy the inventory from a failed shop and flip it on eBay from your basement.
The first company I owned I worked more than 90 hours a week. Yes, we were going on vacations monthly; three day vacations and the whole time on vacation I was checking my email, trouble shooting problems with employees, paying bills, billing customers, making future plans and making the wildest things happen for my company that is too bazar to explain here... trust me a large payroll is a job all by itself the stress is maddening. Oh, my car was a prius with over 100k miles and I still drive a vehicle with over 100k miles.
It's wild that the man that constantly makes Step-Sister jokes, is also teaching me more than my business classes ever could in. Thanks for bringing white board Rudy back. Also, hope you didn't mean to cut off at the end, and there's a moral to the story. TY Mr. Tacoman
Dude, this was a hell of a video. I've watched tons of your box openings and some of your side chats,this one takes the cake. I really hope you make more videos like these because it's a great way to show people how to think and what to think about when it comes to mental shifts when you want to run a business. Please make more videos like these.
I opened a card shop and made money. Not by selling cards, but when I sold the property. If you want to open a shop, my experience is buy the commercial property first to reduce overhead. I barely broke even on paying the electric bill and it being just me and my friend (co-owner) working there. Selling the building was the only profit we made above $100.
This is exactly what I was thinking. I want a store, but if I did open one I want to own the building. That way if it fails, and there is a better than average chance it may, at least I can sell the building and probably break even.
Sounds like leasing to just about anyone else would have been the way to go.
Partnership = a sinking ship
Bro, 7 years ago had the same 'fictional'. There was an actual establishment available for 230k on industrial terrain. I wrote a succesful business plan and gratuaded on it. I purchased it (fictional). Got 128k mortgage, 50k loan from family and put in 50k myself. Even in the worst case scenario analysis i could've sold the property for 500k now, 6 years later and all wouldve been at least 'not bad'. But in my opinion it would'nt be the worst case. I would've made a lot of money along the way obviously otherwise i wouldn't have purchased it.
Lol
Your videos are not only helpful for cardshop. I’ve opened a bookstore (profit since day 1 ✌🏻) in Denmark, and your perspective and lessons have been immensly helpful
This is the reason why I continue to support your work for years on end, sometimes you drop a real gem 💎 of a video where you share some real info that Pit falls to buying sealed products. Great work on this.
Rudy I really don’t understand how you get a bad rep. You’re a real one! Keep it up!
Keep doing these videos! As a university finance educator, these videos hold immense value. Reaching 21K views and counting, they provide crucial information for potential business owners. I'm a simple man; whenever someone (remembers to) point out the opportunity cost, I get happy :)
39:50 - i really enjoy all your videos man, great quality stuff. you got me into FaB and back into the cardboard world. thank you
22:25 my favourite scene its my first time seeing Rudys Phone and him answering a call
Moral of the story:
Don’t open an LGS.
Just become an LGS Employee
Honestly, I'm sure you'd get discounts. Early access. Insider info. Learn the markets and get paid. Sounds fire.
Yeeh😊
@@robertromero8094fiiiire😊
Not really into MTG, but always watch Rudy's videos about the financial stuff. He is a good business man with knowledge. This was a good video.
Years ago I considered starting my own business. Not a card shop, but the same basic principles apply. I did some super basic number crunching like this and decided there was no way. I'd have to work my ass off and get extremely lucky every month just to keep the lights on and break even.
Haha the random cut off at the end. I randomly found your video and appreciate the honesty. The last section is what I am going through at the moment. Have a standard “9-5” job and a side business selling items on Ebay. And you need to dedicate a shit ton of time and reg life gets put on the back burner. I literally don’t do any of my hobbies (fishing, video games, hiking, etc) anymore. All of the focus needs to be on the business and the remaining time on family, reg job, chores/errands, etc
This is exactly what happened to me. I had aspirations of opening a card store when I was younger. I looked at the financials and I couldn't make sense of them. I was working a 9-5 which turn into a side hustle for cranberry farming which has turned into an agritourism business. While my dream of opening a card store is dead I've found my side business and still get to enjoy Magic with my friends and local LGS.
Rudy, you are spot on with this video. If you want to be an entrepreneur find a problem you love and only you can solve and go do it - hustle, hustle hustle. Don't make your hobbies your business-- it will destroy your financials.
I like these long, "boring" videos 😎 If I had Rudy as a teacher, in my high-school days, I would've gotten straight A's
Fr!
Store owner here.
So much truth here. It’s a low threshold business that many folks think they can easily do.
The ones who have stood the rest of time often have special circumstances that made it happen. It is a tough business, for sure.
You need to make your profit in food beverage & services then hope you break even on inventory
@@alfredocamba1995 so that’s why all of the LGSs have fridges.
What make you stay in the business if it's a low threshold business?
@@cheder6I have an excellent staff and I attract a customer base that understands that margin on inventory is what affords well trained employees and smooth operations.
It also helps that I own the shopping center in which my store operates. That said, the store still pays the holding company substantial rent.
I remember the first few videos that I watched on this channel. I was relatively financially responsible, made some money while in school, got my first credit card to build a credit history, paid off a couple grand loan, graduated got my first job when those first few videos were coming out. Spent the next few years using what I learned here to stay afloat as the reason for the loan earlier kept needing more and more as life events public and personal kept rocking the boat. Kind of sitting here thinking back now that I have a better paying job, that reason is no longer around, and I have a relatively stable position in life... it's been a ride but I'm glad Rudy puts up these videos.
I started Magic in 4th edition. Left/came back a few times, last time I played/collected actively was Kaladesh cycle. I still watch Rudy because he talks about the business. Top tier content, bucko!
I appreciate the time you put into this Rudy, i'm so glad my friend introduced me to your channel 4 years ago!!
The last 13 minutes of this video are why I watch and love Alpha Investments. Thank you, Rudy.
Love these types of videos. i even rewatch the old ones sometimes to have something to listen to while i work
I work in finance and while this is very simplified, you raised one point that is rarely talked about is risk.Everyone hears about the success stories but rarely how owner may have barely been able to pay their own bills before success and it can quickly go back unless it has engagement.
Hour long Rudy whiteboard video?
Damn, it can’t be denied, Rudy is still in his prime.
This video was amazingly informative and entertaining, Loved how you pointed at the $19 lmao.
Love this. Didn't realize the profit was so close on cardboard. I used to deliver for UPS and asked how stores like Brass Buckle could keep clothing for a week or two and if it didn't sell they would ship to a different location. Well from what I was told they make 80 to 90% profit margin on the clothing. I know some other business' generally deal with 30 to 40% profit. So yeah I can see how cardboard can make the small guy fail at only a 10% margin. Sounds to me like Hasbro just is trying to screw the little guy. Keep them hanging on strings.
Well, Rudy's experiences and explanations convinced me.
I'm gonna open my own card store!
Always love me a good, sudden, open ending. Amazing whiteboard video as always, thanks papa Rudy!
I'm back one year later. Very good, very nice.
If your play group isn't rich and dropping thousands on sealed product every month, your store isn't going to make much money. The owners of my lgs have full time jobs to support the store. It's a passion, not a gold mine
And typically the people most addicted to the game are also the ones whose lives are in shambles. I knew at least a dozen people at my store that would drive shitbox cars, living with roommates and yet had tens of thousands of dollars of a MTG collection. Clean your room, people.
I was loosely involved in the overall hobby industry about 20 years ago. A lot of the guys publishing module books weren't making much if anything either but loved the product.
Great business advice Rudy. For a name (12:46) some UK folk will remember the TV comedy 'Only Fools and Horses' and their 'Trotters Independent Traders' (or T.I.T. for short)...so we could have 'Timmy's Independent Traders':) Cheers.
A healthy dose of reality in this video, Rudy. What an eye opener, it be rough out there.
even with the abrupt ending this was a very informative for people who want to (blindly) open a business of any kind. I managed to solidify my own business nearly 10 years ago and I still remember my stupid teen me trying to open all kinds of things without any idea of what I was doing.
I'm glad you're doing whiteboard vids again, they're really good and fun to watch
I live for these videos Rudy! Your knowledge took me from a dirt poor Timmy to someone who has a savings account for my daughter's college. Thank you bro I owe you a lot.
I GREATLY appreciate your blunt-ness when it comes to these things. and explained very well, I might add. I think it's easy to have rose-colored glasses for things you love, but like in all things, once its a business-it's work.
Bit of an abrupt end but good stuff. Really opens my eyes to the struggles of owning a hobby store.
I never thought about opening a shop for cards, but I have still learned a lot listening to this. I greatly appreciate it!
Thank you for this video. There's always been this itch in the back of my head wanting to run a board game/hobby shop. This is the realism my lizard brain needed to hear.
This is why I subscribed and started buying up product to sit on. You’re a wealth of real world knowledge and a blessing to the hobby
I fell into an opportunity and started my own business. Anyone under the delusion that the owner gets to kick back and fat cat it, especially if you are providing a service based business is in serious delusion. Completely agree Rudy, when you hit that stage all bets are off, normally rules and times don't apply, you are 7 daying it if you want to make good money.
Like literally every small to medium business.
I honestly don't understand how people throw away half their life in form of debt or savings thinking they are set opening a shop for cardboard and have an easy way of making money. Especially from 2-5 different games alone.
If we take it head on and say you make average 15% margin, which you probably won't, i doubt the business is in any way profitable, even if it benefits you in other ways. You have to turn sales to continue and the competition is fierce because there's always a dead--channel-cardshop-snowball that is gonna undercut the small businesses by a lot.
Now without recurring regulars that are actually buying their boxes at your store, aside from going to your events, you won't make it while having to support and sell a ton of games to just be a viable store for the normal customer.
At least that's what i have seen and heard over the last year from people in the biz.
Thanks Rudy.
This should be required watching for anyone who is seriously considering this in any year.
Sadly, the concept of “Community”was destroyed by social media when “Friends” become people who click a button and started spamming each other with updates on the things in their lives no one needs to know.”
A more accurate term would be, “Marketing Group.”
These videos are you at your best. So many people out there have no idea the margins and capital required to succeed at running a business. Not to mention the risk involved. Our schools are a disaster and not teaching what kids really need to learn to succeed. Keep these up!
Thank you Rudy for putting time and making this video. This really opened my eyes
I know rhese videos aren't popular, but honestly, the whiteboard videos are by far and away my favourite. Thanks for putting up with the trouble and still doing it!
edit: it also ended very abruptly lol
Thank you Rudy for the great whiteboard video!
Slight bummer the video cutoff. However, I knew where you were going with it.
I've tried my hand a fair amount of times hustling and ownership once. It is real hard! And yes they all failed. But each time goes a little farther.
Gotta take those shots to hopefully score in the long run.
That's the most well-paid card shop employee I have ever heard of....
It's not that simple. $20 an hour is really $15-$16 an hour.
The last part of your video is super insightful in general. Not only related to lgs.
This is the best channel on youtube. Rudy is literally no BS, even answers the phone for tacos later. If I wasn't a fan of magic I would've never seen this channel is what makes me sad.1
Edit -
What happened to the end of the video!?
He ends a lot of white board vids like that. It’s kinda an ongoing joke
WHERE IS IT?! It was getting so Good!
Rudy could ramble for hours about fish, step sisters, and acronyms so he chooses to just cut himself off.
Great video Rudy! As a business major I loved the detailed breakdown. I hope people looking to start their own card shop / LGS find this video and watch it through. Lots of food for thought.
As someone who just last year in January started selling cards online, this is all true. I wasn't planning on opening up a physical store or anything, but wanted to sell cards cause I like collecting them. So figured I'd buy a case or 2, whatever I can, open a box for myself, sell singles I don't want and selling the rest sealed. Nothing grand, just simple (least for now) and am just trying to make $10 after shipping and fees on TCGP. I haven't bought many sets yet, but the SINGULAR set I have made ANY sealed product sales on at the moment is the Mushoku Tensei WS set (not counting a couple boxes someone I know bought from me). Everything else has dropped and my sale prices are like $20+ more than the lowest prices so they are more than likely not selling any time soon. Only reason I am okay just sitting on everything and waiting (hoping) they go back up at some point is because I didn't buy anything on credit and don't have payments for a physical store.
Woof
Very wooof
Great advice as always. It's funny how people tell you these things growing up but as a kid you never really can process it until much later in life.
No shave Rudy hits different. It’s dirtier, grungier, gritty. Dark light suggests he’s giving up being the good guy and slowly turning into the chaotic evil the MTG community needs.
Rudy, you are a person with true character. Blessed are the people around you and us who see your videos.
I don't know if I can trust any info from Whiteboard Rudy if he isn't wearing the pink visor. If No-Visor Rudy tells me not to open a card shop, that must mean Visor Rudy would tell me to open one.
Timmy's TCG Tradepost coming soon™️
On a serious note - thanks for doing this Rudy, we *_love_* these videos.
really good reality check and insightful perspective not only on MTG / TCGs but on life. Thanks. Subscribed.
I'm here for it bro.
Gonna watch the whole hour for sure, this is the kind of content I prefer.
You going to tongue punch his fart box as well.....🤣🤣🤣
@@mfdoom1898 you seem nice bro.
@@kashmm just being an ass, don't take it personal.
I love you creepy taco guy. I started watching ur videos 3 years ago then I finally bit the bullet and started to sell cards online through facebook market place in my area last year September. In my first 3 months I made $97 net profit. I adjusted approach and now I make $270 and $400 a month if its a new Pokémon release. I still work my fulltime job and honestly I think I would make more with a part time on top of my full time but I just like selling cards to people.
Man I’m so happy taco man put out this type of video. All these locals think I’m the fed and printing like crazy but this really shows people how tough running a shop is. The one thing that really needs to be stated on is the taxes on top of said profit...
I really liked this video style. Your free form style of speaking shows a deep understanding. Good job, Rudy!
Heck, this could be explained to nearly ANYBODY wanting to be an entrepreneur.
Yeah your right, but what Rudy is trying to say is cardshop life is especially bad. Same thing with opening your own restaurant. A very successful exec. chef/ manager said to me his favorite thing to make is the one that makes him the most money. If you are going to start your own business pick one with a good risk/ reward unlike a cardshop.
@@powerlifting1012 Restaurant is a different business-model, no? Trading cards are a luxury item, food is an every-day item... it's like being a hair-dresser, hair doesn't stop growing in a downturned economy. Everybody gunna need to eat food, whether or not the acconomie is up or down.
A card shop is basically a hobby industry, like running a comic book shop or a wargaming store.
@@jack-a-lopium yeah restaurant are also just one of the worst businesses to open. Which is why I mentioned it.
@@powerlifting1012 Be an ice-cream man, ice-cream men are the richest people on the planet
Good wisdom Rudy, The side hustle thing you mention in the end is huge and I belive more people needs that wisdom
Love these videos, I know it’s cliche but Rudy has really taught me some great financial practices over the years and a mind set of building for the future. I wish schools taught a lot of these things. Thanks for the hard work man
Thank you so much for this video Rudy, as someone that has been wanting to open a shop this has opened my eyes.
This needed the pink visor.... I'm sad :( EDIT: You were aware! I was too early posting this. Doesn't matter Rudy! Will wait a bit longer on the return of the infamous PV!!
whew that's the longest video that i have watched from this channel its a MASTER CLASS for anyone who like to learn from you, thank you for the time and effort, we really appreciate it :D
I'm very happy years ago you convinced me not to open a shop. Instead I did a little remodeling in my garage and I just run a little magic League out of my garage. It lets me feel like a card shop owner with out the over head... now I couldn't tell you how legal it is but that's my advice if you want to give it a try.
I work for a shop owner and I didnt put alot of this into perspective until this video. You make a good point on, paying employees, hoping that the profit line is higher than the payout of bills, rent, utilities, employee wages etc.
Informative video - I can't imagine how any hobby stores survive nowadays,
FNM and other events, sell snacks and diversify what you sell like what ebgames /gamestop did to survive. Bum just like gamestop, the end was inevitable and not sustainable :(
We survive by being smart about what we do and not listening to guys like this.
@@fitzfinds8273 “guys like this” ?
@@4ksandknives spot on. The money isn't in the card boxes. Those are loss leaders. Any chance of actually making money is through events/snacks/drinks, and other products besides cards.
Video ended perfectly. As someone who started their business with my brother after watching and being inspired by Rudy’s videos, I can say that everything in this video is spot on… once you make it, you really are looking around saying how in the hell did I get here. As always, well done sir with the video. Bearish Cases may one day make acrylic cases for your pallets. 😂
Rudy: "Having Business plan is stupid"
Rudy: Proceed to show the LIFE plan
Love you made this like a week after I asked you questions about this. Liking it so far minus the business plan info. Gotta have a structured plan in order to have higher success, but we aren’t made to agree on everything. I’m within 3 hours from you in Florida too. Appreciate all the content you create and subscribe to your patreon
The last part is so absolutely true about the hustle. I'm lucky, making about $140k at a full time job. Started a side hustle. Broke even for 4 years, then suddenly it started paying off. First it was a few hundred a month, now it's over $10k a month and climbing faster then I thought was possible. In retrospect, all the work and a lot of luck helped make it happen, but it is a total mind f**k to go through it and see money start to actually roll in. I'm still working my regular job as the pay is high, but if I am really lucky and things keep going at some point this whole thing might flip on its head. It is all totally crazy. Who knows what will happen. All I can say is just keep plugging away day after day after day and something will happen.
YES! So excited I pushed back the washer/drier repair man!
_Florida Man: Your Stupid Card Shop Is Gonna Fail-Sell Me Your Collection Instead and Save Yourself the Aggravation_
I really appreciate the legit perspective on card shop ownership, it's really good to hear someone with a solid head on their shoulders lay it all out in a no nonsense way.
How did it take me this long to realize Rudy is left handed?
That’s why he is so smart. He is above all us right handed normies.
That's what you got from this video lol?
@@venice2823 you can read minds through the internet and know they got nothing else from this video? Damn, you'll have to teach us how to do that with some sort of amazing course for the low low price of £420.69 a month.
God, I love your financial talks. Such great information told as plain and honest as only Rudy can get. You've always got my view.
Is it or me or do others also see the irony in Rudy mocking business plans while he proceeds to draw out a business plan.
If you were paying attention he's describing two _very_ different paths to business ownership - the first being the clueless person with a bunch of cash who suddenly decides to set up a business doing what they saw on the internet and gets bogged down in 'business plans' and terminology; the second being the entrepreneur with a secure regular job who tries several side hustles until they find one that *really* works.
Those two paths to business ownership are vastly different, have vastly different results, and are at vastly different levels of risk. They are not the same. So, no, there's not any irony to be seen here, because Rudy's mocking the artificial business attitude vs the actual entrepreneurship fundamentals.
It got me at first as well haha
But I think what he was going on about, was that in cardboard life volatility is very high, the amount of capital needed to start out is rather high, and regular margins on the short term are usually rather low. So it's nonsense to draw out a "typical" business plan (as he demonstrated) & that one needs to be very aware of the downside risks coming with the opening a LGS or an online card vending business (or a combination of both).
One of the best things one of the card shops here did was partnering with a grading company (the only one in the country) and they take a small cut for people to send things up through them. Helps with the stress of doing all the forms etc, but most of all they allow you send a single card that way. Win Win for them both.
Love living the risk free worker lifestyle! Such security!
Okay well time to get a new job
Well I spent my entire savings and I'm in pretty big debt but if I can just hustle and work 60 hours a week I'll be able to stop the bleeding so I can find another job to work 80 hours and break even 😅
Risky owners vs lazy workers is such a Timmy mindset.
This is kinda also implying the worker isn't helping with anything in the back and just sitting down watching an empty shop because everything is being sold online.
If you are working in a card store you've probably made a series of unfortunate decisions to get there. Chances you're a cat-owning redditor also triple.
_Florida Man Records Video in the Dark_
You are truly one of a kind my friend! This is gold!
An yearly update video, with the same content... Only Rudy can do this because Timmy's keep springing up
you can still open a card shop but via online e-commerce, your inventory will came from yard sale and flea markets
It would be cool to see a video like this but instead of opening a brick and mortar shop, ones where its run out of the persons house while working solo.
Unless you are selling strictly online you are going to have issues with your local zoning board real fast like. You better make sure you read all the residential and commercial ordinances first.
As a trader who’s in the stage of still being employee 4 days a week and after 3 years my side hustle becoming more and more successful, I wish this video was complete and about 20mins longer 😅
I love these vids as it's real talk no smoke and mirrors it shows how businesses work and some great advice always a great listen while working on your own little Empire
I opened my store during the pandemic and it’s very successful atm. However, I had a gimmick, went the membership route and sell both miniatures and ccgs. High income customers are essential, you can’t succeed on struggling college kids
what is your cash flow?
Personal trainer here, I travel to people's houses. My clients are all six figure folk; you need to charge enough to not only make expenses, but also profit enough to invest.
13:09 Bro Rudy I see that Lav mic let's friggin gooooooooo🎉
If you wanna use it closer to your collar you can maybe turn down the gain on whatever the mic is plugged into
Im assuming its not in a mixer and is plugged direct into your camera so idk how specific you can dial in the sound but wanted to give my advice. Pro audio quality regardless dude, straight up.