LGS owner here in Los Angeles. We opened in 2016 so we’ve experienced the ups and downs of the last decade and now again another boom. It’s all fun and games until you realize at the end of the day this is a business and just like anything you can go bust if you don’t know your ass from your elbow.
I buy from whole sale and build up relations. Have good margins but skip selling some TCG:s, also share space with another business partner. Did you start with selling mainly displays or single cards? And how did you get allocation when you started. Its does not feel easier start in 2024 but if you can get products I think its better than 2016. Sportscard I maybe should keep away from those NHL MVP 😁👊
@Pottering12 my local shop is booming we are in a bull market. But I get such good deals cause I spend a lot that I don't see how they even make money off me honestly
@cody9732 can you put actual numbers. 20 card stores in one area is crazy af. And how are they all doing good when hardly any supplie is around. Just doing the math on paying employees sounds scary let alone rent for the store.
For people that don’t like the 4-5 versions of every MTG card we have now have no idea that baseball has like 12 of the same card just different colors and shattered backgrounds and it’s really confusing 😂.
They must've missed the 500 videos where Rudy says in no uncertain terms DO NOT OPEN AN LGS! Sad story, I hope they're able to liquidate all their stock and get out while they still can😢
Where did all this start from, the big internet? Some people buys at lgs and enjoy playing a game plus meet people. Go back to your man cave, but I do enjoy watch your stuff. 😁👊
"We knew we were most likely overpaying but... we wanted the quick flip." How do they not know the quick flip comes from buying something significantly below market value and then selling for market value? That's the most very basic piece of knowledge of card flipping.
For any business, really. I work at Walmart and one of those little motivational things they have in the training room is about "controlling your expenses". Even as far as that goes, I've spent like $1,200 on Lego over the last year or two, which was 50-70% off clearance there. They're not the best sets, but they have a market value of around $3,300 (IF I managed to sell them), but still have about 9-10% appreciation above retail. 5 or 10 years from now? They're gonna be great. Even recently, I bought a dozen old Garmin watches (from 2018) on clearance and Ebay'd them and got $200 net profit, and helped offset my Christmas shopping. Like I'm not an entrepreneur or anything, but it's shocking to hear someone with a successful real estate career doesn't have the savvy to do a proper business plan. But then, I've done some naive things, too.
Rudy this video was the best video at least i’ve seen you post. Informative, emotional, and constructive. A lot of people don’t have the resources or people in their lives that teach them this stuff. Truly Valuable
I think one of the issues is that we have hobbies we enjoy and we see those that have success and then hear the bs of "you should work in something that you enjoy". I don't think people really understand the risk and only see the final destination without seeing the journey, the pitfalls or the outright failures. We only focus on the successes and maybe a bit of envy creeps in. If they can do it why can't I? How often do videos come into our feeds "I invested my life saving to create X business, now I'm homeless."?
The thing is there is a way around this problem. Start a part time, online only card business and don't borrow money. Go full time once you've built up enough cash and experience. Perhaps not as glamorous as brick and mortar but at least you won't lose everything.
Great video. I am a young person with a deep love for vintage magic. Bought a full set of revised 9.5 dual lands as well as a sealed booster box. I will treasure these, and have plenty of capital incase the investment doesn't work out. Make Vintage great again!
You mentioned vintage comics, and they're turning the corner as we speak, finally. It's not a huge change, but they finished their correction and have leveled out, and some segments are starting to climb steadily again, like high-grade Silver and Bronze Age horror and mystery. Though we'll likely never see another frenzy like 2020-21, I think 2025 will follow the trend started in Q3 and Q4 of this year, as a lot of collectors look for comics to diversify their crypto and stock market gains. Especially after seeing how much more they can get for their $$ now, compared to a few years ago.
The opening of the letter, oof, too many red flags... 🤯 2016 I liqudated ALL of my sportscards and sealed set boxes to make my tendies. It was worth it. 🤙
Love this episode of Rudy Logic u need capitol to start and maintain expect the unexpected,if ur passionate about TCG and sport cards do a table every week or month at ur local card shows and that is ur LGS without the start up and unexpected financial burdens
A few years back, I concidered opening an LGS in Scotland. At the same time I was concidering coopening a brewery. However and opertunity came up to study medicine. Im not studying medicine, putting my life on hold for 8yrs and getting about £60k into dept and I have no doubt in the long run it will eb a much much better decision than the other 2 options.
Starting to sound like an old LGS in my area. Put their personal collection in, borrowed money from their parents, mortgaged his house... And went out of business within 5 years. Guy was great when he first opened but by the end was on edge, overcharged and was pushy / treated everyone poorly / got really personal with attacks and drove people away.
I always love the LGS vids, i wouldn't mind having one a week or a month. I remmeebr the vid where rudy said it makes more sense to take yout 50-10k into a CD than LGS. i think it sucks WPN doesn't supoert local card stores iek they did in the early 00s
My complete lack of knowledge about the culinary arts will not prevent me from going balls deep in Taco Investments!!! That’s what I took away from this story.
You can start as a flea market flipper or just stay as one more or less. Overheads so crazy and the playerbase (ateast in my area) is worse / more crazy / less functional every year
Here for that moment midway through the video where Rudy suddenly stares at the camera like an anglerfish and drops unsettling truths that leave you a little uncomfortable and perhaps nauseous to the way the world operates in children's fantasy card games.
A regular hit me up for F1 hobby boxes. I don't do sports. Called my distro rep and asked for 3 sealed cases. They laughed at me and said I couldn't even get you a single box because you never buy sports from us.
I have a used car lot that I run as a side business. I can sell cars bhph and make about a 50 percent return on my money over 18 months. With a lgs your profit margin is honestly zero or negative, but its also very, very low. Also tons of small transaction vs me flipping a few dozen cars a year and making a few thousand or more on each one.
You have to be absolutely insane to open a retail business in general in 2024, not even mentioning that its a sports LGS store. I'm assuming that father is in his 50s, why in the absolute hell would you risk your entire future on sports cards?
Yeah the high street is dying for independent stores. Shops constantly pop up where I live in England and they rarely last more than a year. The only ones that last are established chains and franchises.
I do buying and selling of Pokemong and MTG as a side hustle/hobby and it can still be overwhelming at times. With the availability of buying and selling online or at trade shows I don't know why anyone without an enormous amount of capital would even consider a physical store location.
The 1st of the month comes, the rent comes out and I wonder how long it takes to put that back.. so far so good and hoping that revenue increases after Christmas when folk aren't holding off spending on trading cards for their hobby to buy Christmas presents. Next week I should finally have the cafe section open and attract the local scene down for events. This video sounded like it was based on a letter I could have wrote when I opened up the store because the fit out cost thousands more than expected and took longer too 😅 😑 28 chairs arrive this week, zero tables yet 😆
Do your research, be patient, make smart moves, and don't go beyond your means. The money you put into investing should only be an amount you're comfortable with not seeing again for many years.
Here's my advice for people who are in debt and still want to open an LGS: Step 1. Wait. Step 2. Get a job (any job). Step 3. Pay off your debt. Step 4. Call your bank and raise your credit limit. Step 5. Keep your credit cards at 0 balance each month. Step 6. Save up and buy a Revised Dual Land (any condition). Step 7. Save up more and buy a full set of 10 Revised Dual Lands. Step 8. Make a 5-color EDH deck and play Commander and forget about your dream of opening an LGS. It's not worth it.
Open an LGS? I'd rather try to open a Blockbuster.
You’d do well this time of year
There is still one Blockbuster that is open in the world
Filled with VHS rentals….
No
Hear me out: A Blockbuster/LGS/Arcade/Red Lobster/Toys r Us/ Sears combo?
LGS owner here in Los Angeles. We opened in 2016 so we’ve experienced the ups and downs of the last decade and now again another boom. It’s all fun and games until you realize at the end of the day this is a business and just like anything you can go bust if you don’t know your ass from your elbow.
Turn Zero?
@@sakidickersonProjectccg
I buy from whole sale and build up relations. Have good margins but skip selling some TCG:s, also share space with another business partner.
Did you start with selling mainly displays or single cards?
And how did you get allocation when you started.
Its does not feel easier start in 2024 but if you can get products I think its better than 2016. Sportscard I maybe should keep away from those NHL MVP 😁👊
That title sent shivers down my spine.
Opening an LGS is about the dumbest thing someone could do
Agreed. You’d make more money per hour working at Taco Bell 😂
@Pottering12 my local shop is booming we are in a bull market. But I get such good deals cause I spend a lot that I don't see how they even make money off me honestly
I dunno man, I once knew a guy who used a staple gun to try and pierce his hang down. Needless to say, it did not end well.
I hear this nonstop but like 20+ lgs's have opened up in my vicinity and every one of them is doing great.
@cody9732 can you put actual numbers. 20 card stores in one area is crazy af. And how are they all doing good when hardly any supplie is around. Just doing the math on paying employees sounds scary let alone rent for the store.
Dear Rudy : HELP - we need to see your Pinball collection before it's to late, TACO MAN!
I’ve been asking him for years. I’ve got pinballs too and want to see his.
he better have Funhouse.
@@Satisfyingtoday Maybe he will give us a Christmas miracle
@@ateliergaogao He might just have all ew sterns (boring) unless he bought a Funhouse remake?
@@ateliergaogao I’ve got it
Mom probably said, FOLKSSS!!!
The moment I heard "got in in 2016" and "got into sports cards", I knew these folks got hosed.
For people that don’t like the 4-5 versions of every MTG card we have now have no idea that baseball has like 12 of the same card just different colors and shattered backgrounds and it’s really confusing 😂.
Delayed folks threw off 69% of the Folks. Rudy’s portfolios are PUMPING
Opening up an LGS is the new mid-life crisis Lambo
Ima do it backwards and sell all my products for the lambo lol
They must've missed the 500 videos where Rudy says in no uncertain terms DO NOT OPEN AN LGS! Sad story, I hope they're able to liquidate all their stock and get out while they still can😢
Where did all this start from, the big internet? Some people buys at lgs and enjoy playing a game plus meet people.
Go back to your man cave, but I do enjoy watch your stuff. 😁👊
"Hope for the best, expect the worst" is is a phrase worth living by.
"We knew we were most likely overpaying but... we wanted the quick flip."
How do they not know the quick flip comes from buying something significantly below market value and then selling for market value?
That's the most very basic piece of knowledge of card flipping.
For any business, really. I work at Walmart and one of those little motivational things they have in the training room is about "controlling your expenses".
Even as far as that goes, I've spent like $1,200 on Lego over the last year or two, which was 50-70% off clearance there. They're not the best sets, but they have a market value of around $3,300 (IF I managed to sell them), but still have about 9-10% appreciation above retail. 5 or 10 years from now? They're gonna be great. Even recently, I bought a dozen old Garmin watches (from 2018) on clearance and Ebay'd them and got $200 net profit, and helped offset my Christmas shopping.
Like I'm not an entrepreneur or anything, but it's shocking to hear someone with a successful real estate career doesn't have the savvy to do a proper business plan. But then, I've done some naive things, too.
"Dear Rudy" is back!!!!!
tell his father to get a hot plate and sell sloppy tacos to get out of that credit card debt
Dear Rudy: I didn't listen!
❤
Adding rent and property taxes to sell cardboard when already in debt is not good odds
Weird that they want your help now, when for the past five years, you've always said opening a game store is not a good idea in the first place.
Man, look at all that gray in Rudy's beard. The cardboard life takes a toll. 👍
Can't believe he's only 40. Feels like he's been around forever.
I watch your content off and on and am always amazed and appreciative of your insights and advice. Quality content right here, folks.
He could have saved us all the time of reading it and just summed it up by simply saying "Some dude did something really, really stupid"
Delayed folks gets a rating of 9.7/10 out of novelty value, top rate. Always ready to go skiing with you Rudy, buy you a mug of hot chocolate after.
Amazing thanks Rudy,also i hope these people are ok and with a bright future, my best wishes for the best outcome!
I subscribed before this video and this video has only cemented that decision. Thanks Rudy!
I want to see a video of Rudy buying MTGLion's collection at a discount.
That would be funny. That guy has been milking Rudy's name for years.
Rudy this video was the best video at least i’ve seen you post. Informative, emotional, and constructive. A lot of people don’t have the resources or people in their lives that teach them this stuff. Truly Valuable
Savvy viewers may find a clue to the December promo code on the bookshelf. You're welcome.
I assume you're talking about the nurse from Kill Bill as I've never seen that picture displayed before.
Waiting for the follow up video where the dad learns about grading and opens all the sealed product chasing cards and grades.
Lmao ! yep , the downfall of many of us!
I hope good parents marriage survives this venture
Rudy, you my only friend.
The only mistake is I didn't hear any word of reselling PS5s during this time...
A simple message of hedging your risk. Thanks i sold my pltr at 79usd. Looking to shop for some cheap black lotus
Delayed “Folks” made the drones around my house drop from the sky. Thanks Taco Man!
Glad we got the real folx a minute in 😂
I’m three minutes in and I can already tell Rudy is going to have a field day with this story
I think one of the issues is that we have hobbies we enjoy and we see those that have success and then hear the bs of "you should work in something that you enjoy". I don't think people really understand the risk and only see the final destination without seeing the journey, the pitfalls or the outright failures. We only focus on the successes and maybe a bit of envy creeps in. If they can do it why can't I? How often do videos come into our feeds "I invested my life saving to create X business, now I'm homeless."?
The thing is there is a way around this problem. Start a part time, online only card business and don't borrow money. Go full time once you've built up enough cash and experience. Perhaps not as glamorous as brick and mortar but at least you won't lose everything.
Great video. I am a young person with a deep love for vintage magic. Bought a full set of revised 9.5 dual lands as well as a sealed booster box. I will treasure these, and have plenty of capital incase the investment doesn't work out. Make Vintage great again!
RUDY! ❤
Why didn’t they just open an online store and list cards for cheap if they source them cheap? There’s no rent if online and impossible to go into debt
Vanity.
You mentioned vintage comics, and they're turning the corner as we speak, finally. It's not a huge change, but they finished their correction and have leveled out, and some segments are starting to climb steadily again, like high-grade Silver and Bronze Age horror and mystery. Though we'll likely never see another frenzy like 2020-21, I think 2025 will follow the trend started in Q3 and Q4 of this year, as a lot of collectors look for comics to diversify their crypto and stock market gains. Especially after seeing how much more they can get for their $$ now, compared to a few years ago.
Deep, deeper, deepest into the rabbit hole 🐰and I agree, travelling is expensive, do it bc you love it and not for financial reasons.
Dear Rudy : HELP - Im in debt and opened a TACO
The opening of the letter, oof, too many red flags... 🤯
2016 I liqudated ALL of my sportscards and sealed set boxes to make my tendies. It was worth it. 🤙
What's the link for the video for the top things rudy missed out on?
IM READY RUDY
Love these vids!
Dude! Bro! Gee! I just got out of prison! 🤣
That’s some fake friend energy
Love this episode of Rudy Logic u need capitol to start and maintain expect the unexpected,if ur passionate about TCG and sport cards do a table every week or month at ur local card shows and that is ur LGS without the start up and unexpected financial burdens
I’ll take any advice for my current business venture. I am looking at opening a Radio Shack within the next year.
A few years back, I concidered opening an LGS in Scotland. At the same time I was concidering coopening a brewery. However and opertunity came up to study medicine.
Im not studying medicine, putting my life on hold for 8yrs and getting about £60k into dept and I have no doubt in the long run it will eb a much much better decision than the other 2 options.
I hope they teach you to spell during your course as otherwise any prescriptions you make out could have disastrous consequences.
@@candybracelets IZ DOEZ DO THE WORDSSSS
14:11 says it all 😂
There was a time in my life where I wanted to open an LGS. Very glad I dodged that bullet.
Starting to sound like an old LGS in my area. Put their personal collection in, borrowed money from their parents, mortgaged his house... And went out of business within 5 years. Guy was great when he first opened but by the end was on edge, overcharged and was pushy / treated everyone poorly / got really personal with attacks and drove people away.
I always love the LGS vids, i wouldn't mind having one a week or a month. I remmeebr the vid where rudy said it makes more sense to take yout 50-10k into a CD than LGS. i think it sucks WPN doesn't supoert local card stores iek they did in the early 00s
My complete lack of knowledge about the culinary arts will not prevent me from going balls deep in Taco Investments!!! That’s what I took away from this story.
Being a taco chef is like being a sushi chef. You have to train for ten years under a wise old sensei before you even get to touch the food.
To the patreon that send the letter
I wish you a lot of luck
Agreed
Was this from NJ?
An lgs by me closed recently and it was a father & son
Flipping feelings!
If you are opening a card shop without 250k in liquidity; I hope you hate your credit score
You can start as a flea market flipper or just stay as one more or less. Overheads so crazy and the playerbase (ateast in my area) is worse / more crazy / less functional every year
ah shit boss here we go
help im cash positive selling tacos outside my LGS
sell cards to build capital ? how have they not sold any of the 150 thousand of collections ?
Made me sit up straight. Sheesh.
IM READY!!!
It takes capital to make capital regardless of the investment.
Ready folks !
What are the top 10 expenses involved in running a Local Game Store?
Basically what I've learned is you have to have money to make money and you need luck in life
Here for that moment midway through the video where Rudy suddenly stares at the camera like an anglerfish and drops unsettling truths that leave you a little uncomfortable and perhaps nauseous to the way the world operates in children's fantasy card games.
A regular hit me up for F1 hobby boxes. I don't do sports. Called my distro rep and asked for 3 sealed cases. They laughed at me and said I couldn't even get you a single box because you never buy sports from us.
How dare you request a product. Lol
I have a used car lot that I run as a side business. I can sell cars bhph and make about a 50 percent return on my money over 18 months. With a lgs your profit margin is honestly zero or negative, but its also very, very low. Also tons of small transaction vs me flipping a few dozen cars a year and making a few thousand or more on each one.
thanks Dad!
Wotc should NOT be allowed to reprint.. always trying to make more money off us. Let the collectibles build value!
You have to be absolutely insane to open a retail business in general in 2024, not even mentioning that its a sports LGS store. I'm assuming that father is in his 50s, why in the absolute hell would you risk your entire future on sports cards?
Yeah the high street is dying for independent stores. Shops constantly pop up where I live in England and they rarely last more than a year. The only ones that last are established chains and franchises.
Im convinced Rudy is just a Sober Bam Margera
😂
The brothers war bundle gift edition going to go up?
Hey Rudy have you ever been to the Fox in Avondale?
I do buying and selling of Pokemong and MTG as a side hustle/hobby and it can still be overwhelming at times. With the availability of buying and selling online or at trade shows I don't know why anyone without an enormous amount of capital would even consider a physical store location.
You need to look at the market as "psychos". Totally agree.
dead inventory is like fresh produce. you still need a sneeze guard.
That folks put hair on my chest
In that order???
Man I've got some catching up to do
Where on Earth do you find these guys???? Every time I want to sell anything I'm only offered anywhere from 10% - 30% of market value!!
Jeez Rudy you need to replace the drum in your printer 🥃
Yikes 😮
Sounds like Ricky from trailer park boys and I can’t unhear it now
RUDY HELP! I'm a dumbass!
Dropping a Faxanadu reference. lol 👍
2.69 out of 10 on the folks today. Sad topic. Second folks gets a 8.69 out of 10.
"took money from a good friend".....did the friend know you took their money? I think that's called GRAND LARCENY
The 1st of the month comes, the rent comes out and I wonder how long it takes to put that back.. so far so good and hoping that revenue increases after Christmas when folk aren't holding off spending on trading cards for their hobby to buy Christmas presents. Next week I should finally have the cafe section open and attract the local scene down for events. This video sounded like it was based on a letter I could have wrote when I opened up the store because the fit out cost thousands more than expected and took longer too 😅 😑 28 chairs arrive this week, zero tables yet 😆
Good luck dude. It might be tough, but I'm sure the local folks appreciate having an LGS to hang out at.
thx rudy
10/10 vid
Do your research, be patient, make smart moves, and don't go beyond your means. The money you put into investing should only be an amount you're comfortable with not seeing again for many years.
This is why I stopped eating pickles, straight from the jar, in my car...
The hard truth is. Rudy will be your new daddy soon.
How did they make no money back from the first 3 $50,000 collections they bought at the start? And the market was booming back then??
Giant lava meteor hits your store 😅. Yup that's life.
Rudy, good Alfa mate
Here's my advice for people who are in debt and still want to open an LGS: Step 1. Wait. Step 2. Get a job (any job). Step 3. Pay off your debt. Step 4. Call your bank and raise your credit limit. Step 5. Keep your credit cards at 0 balance each month. Step 6. Save up and buy a Revised Dual Land (any condition). Step 7. Save up more and buy a full set of 10 Revised Dual Lands. Step 8. Make a 5-color EDH deck and play Commander and forget about your dream of opening an LGS. It's not worth it.