How To Start A Small Rental Movie Business?

Answer 1

i would start off by getting a lot of dvds and videos together. forget the business plan. just stack them into a storefront, get some tracking/accounting service going, because you don't want to lose your videos. and charge them money.

if you have competition, you might want to make your service stand out, like having titles in certain genres that the other ppl have, like accepting coupons from the competition, late night porno deliveries, etc.

Answer 2

If I were you, I'd go the franchise route. If the area that you plan on opening up the business in has a market for rental movies and you opened up your own store (not a franchise) it would be successful. For about 2 years. Major chains like Blockbuster and others have teams upon teams of people looking for places to open up a new store(a market). If they see your business has been successful for a couple of years, that would be a good indicator that there is a market available for the rental industry and they would have no problem coming into town and running you out of business. They could afford to because they are a corporation and can actually afford to sell below cost while providing customers with exemplary service, thus, stealing your customers. And once you threw in the towel, they raise they're prices back up little by little (so most customers won't realize it) until they see a profit again.

Another reason to go the franchise route is because its just plain easier. They tell you how to do just about everything from ordering stock, to advertising. Most of the time the companies will offer training as well.

Play it safe, open up a franchise.

Answer 3

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.

Associations may be a good avenue to explore. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

* Start and Run a Profitable Retail Business by Jim Dion, Ted Topping
* Retail Business Kit for Dummies by Rick Segel
* Specialty Shop Retailing: How to Run Your Own Store Revised by Carol L. Schroeder
* So You Want To Own The Store: Secrets to Running a Successful Retail Operation by Mort Brown

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 4

Interesting question.

Do some googling on Blockbuster. They are totally sucking wind right now. This is an industry that is struggling.

Not to say you don't have a novel approach that would work, but be sure you have your eyes open to whats going on out there.

To your question in particular, the best way to learn any business is to work at one for at least six months. Even if you are just stocking shelves and pushing a broom, you can learn an incredible about by just hanging around with your eyes and ears open.

Beyond that, its basic business startup stuff: Incorporation, taxes, banking, etc, etc, etc. If you aren't comfortable with that stuff, get a good attorney and accountant.

Answer 5

In today's world of online movie renting and pay per view movie channels, movie rental businesses are hurting. You may want to consider another type of retail business.

Answer 6

If you have the upfront capital, there's always the option of running a rental kiosk: http://www.dvdnowkiosks.com/ (and others like it, just google for them). Might do well in a mall, and you wouldn't need to worry about staff or office space.

Answer 7

be aware of mail order movie rentals, like blockbuster and netflix, which can provide extreme competition.
nonetheless, i wish you the best.