Who is actually making enough to pay themselves??

[tnsherrie]

I have just hit my one year anniversary and feel very fortunate after reading other posts. The reason I say this is because my business has been paying for itself plus about $500 or so monthly (after all expenses)to me since one month after opening the doors. My income has grown every month since. We just signed up our 2000 member this week. Of course only about 1700 of them are still active. I average about 30 new members per week now.

I dont spend quite as much on advertising now as I did the first year of opening but I cant stress what an important part this is in getting your name out there. But what you dont spend in advertising, etc you will need to spend in additional copies since you will be growing a need to carry enough to satisfy customer demand. One other VERY importaant think to remember is have the best customer service of any of your competitors. There is several other independants cheaper than me but customers say they will pay more to feel welcome and have a knowledgable staff.  We have moved from a 2500 Sq ft building to a 4000 sq ft building in the last several months and I feel this has been a huge factor in our growth success. It will also depend alot on your area and competition but I will tell you as a newbie that it is my experience tha you will put most if not all your profit back into the business the first couple of months and if ran properly and monies spent wisely you can grow quickly and be paying all your expenses in a couple of months.

I hope this helps from someone else new to the industry and I wish you much luck and success!

Sherrie

[wevie]

See, this is my thinking.  I don't think I am going to make a living to begin with but I don't see why I can't at least break even after a few months.

[rjsnyder1@verizon.net]

Whether you buy an existing business or start up yourself makes all the difference.  With a total start up you are definitely going to have to advertise and utilize Great signage.  Most importantly you have to be on a busy street, Location.  If you are not you most likely will not make it.  This business is driven by convenience and impulse.  

Another thing.  Put your check out in the obvious location close to the door but whether you have one door or two make it so they have to directly walk in front of the employee at the register if he/she is standing there and maybe be obstructed by a patron checking out.  Its gorilla warfare I know but it works.  Most importantly keep plenty of things for sale soda, candy, other food items, older cds, pc games.  This will give them things to grab while they are looking for movies and they are profitable.

Joe

[wevie]

Put your check out in the obvious location close to the door but whether you have one door or two make it so they have to directly walk in front of the employee at the register if he/she is standing there and maybe be obstructed by a patron checking out.  Its gorilla warfare I know but it works.
Joe

What do you mean by this part?  Why do I want them to warlk in front of the emplyee at the register?  So they feel bad if they walk by without buying or renting something?

[rjsnyder1@verizon.net]

Its not about making them feel bad.  Its a long practice in any retail business.  Make them feel obligated for one, then get them to impulse second.  It is the key to a business like this.  We also start wishlists for customers, if they ask about a movie and its not avail then it goes on there wish list and then my employees tell them its avail next time there in.  Also the reservation is a great tool, if you use video visions plus you get these features.  Its not a perfect program but it is better I venture than most others.  I will finish with this note, do not make it more easy for a customer to walk out with nothing than pick something up and buy it.  We talk to every customer before they walk out, can I help you find something? and one out of 15 that were planning on leaving do.  

Joe

[wevie]

I know what you mean.  As I have said earlier the customer service in the one store I talk about most sucks big time.  One of the ladies that works there just sits and reads all the time.  You can walk in, return a movie, have a look to see if there is a movie you want to rent, and then walk out without renting anything and never even hear the first word ou of her.  That's very bad!

[nerinastorm]

I agree.  Even though our desk/register is at the back of the store, I make a point (along with my 1 employee) to look up and smile as soon as the person comes in and as they are looking make some sort of conversation, even if it's just how are you . . . can I help you find anything . . . how was that movie . . . that type of thing.  I think it makes a big difference and it creates a relationship with the customer, and usually they will walk out with something, even if it's not what they were looking for when they came in.

[Pickpoket]

it's not about passion, all who post here love movies, it's about what Amanda said,....business
sry for old shit refreshing ?