The Wholesale Forums

[The Wii Shop]

Hello,

My name is Matthew, I have recently turned 18 and am now able to access my trust fund which is just over £55k.
But this money can only be used as an investment into a business.
There is a local video game shop in the town where i live, it is very well established so i can see no point of setting one up here.
Although 12 miles away in another town which is alot bigger they have no video game/console shops and think this would be an ideal space to start my business.

What i need is some general help/tips on where to start and some questions answered.

Where would i source the games/consoles to resell?
Is there any licencing laws for renting/buying/selling games?

Any other info would be great,

Matthew

[greedyboy]

Personally I'd advise against it for two reasons, no in fact 3!

1) The economic climate is uncertain

2) Taking on a shop is big responsibility, especially for a novice. The lease can cripple you for starters if things are not going too well.

3) Your choice of product is notorious for low margins and aggressive prices.

If I was you i'd learn the ropes with a much smaller venture, even a hobby. In 2 or 3 years once you are established, up and running and know the ins and outs, you can then look at retail.

[The Wii Shop]

Would you suggest any alternatives to invest money in?
I was looking into game server hosting, which i have a fair bit of experiance in as it is, what are your thoughts on this?

[Andy777]

Why risk with 55k offline when you can create a great business investing just 5k (for example) online?

[hardwareheroes]

Yeah - what I would have given to have had 55k to start off with.

And you wan't to know what I would have done with it?
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I would have bloody lost the lot of course - I was clueless and took a long time to learn the ropes!

Start small and see how long it takes you to match what your fund has accumulated - please don't blow it.

[siewolves]

you ever thought about a franchise
like this
http://www.chipsworld.co.uk/news/franchise.asp

just a suggestion

[Bonkers]

I would kill for that much money to startmy own business but In reality you could start online for a lot cheaper I think. Can't really say anything anyone else hasn't already said but I'd experiement with different products and create a brand online first.

[mvayani]

forget dealing in games mate, unless you're buy tanker loads

[Popcorn]

I would advise away from it... a Mate of mine is 17 and a net money he has made from non games not even touching them from 14 to 17 is around 1.2m But with 3m tied up in london property (his dads a bulider)

So without touching video games he has made over 1.2m to use...
and he just started of with a few suppliers he was told about and no cash

So emangine what u could do with 55k?

[mvayani]

damn popcorn, whats ur mates story?