Ever wanted to start your own movie store and make some money? I’ve wanted to do so for a long time but sadly because of the ever changing economy and people being laid off left and right. My dreams of starting a spiritually enlightening movies rental store franchise must be put on hold in diffidently. But that doesn’t mean it’s the end.
Now don’t get me wrong, starting a movie rental store is great and all but you may want to take a look at your competition. Yeah, does the name Blockbuster, NetFlix, and Red Box sound familiar. Blockbuster the titan movie store who had rivals a plenty, quickly snuff out its rivals such as Hollywood Video and Pop and Mom movie rental shops out of business. Only to find its self feeling vulnerable to the same fate if it didn’t change its strategy and move up a notch to compete with Red Box and NetFlix.
These two are powerful titans of movie rental that rose up several years back. NetFlix offers movie rental through the mail and no late fees. Red Box is a vending like a Kiosk machine that you can walk up to at any Walgreens or Walmart, and rent movies from and the price to rent is a dollar a night. Therefore putting a hurt on Blockbuster and forcing it to compete with the two new super powers of movie renting.
So if you plan on running a movie rental store, you’ll need to find a store or shop that can house your entire movies. Buy movie shelves to hold your movies and displays. A computer with software for keeping records of films rented out to customers, paying the electric bill and rent of the store. Oh, and don’t forget the cost of insurance for the store, and security screening devices, (the type that people has to walk through). Add it all up and you’re wasting away money if you don’t earn any revenue. The only way to keep your store from closing for good is to have a second job to support your movie store. Otherwise your store is going to last for only a short time.
If you think about it, the movie store is a good idea if you’re in a good neighborhood or district that has no rival movie rental store to oppose you or compete with. Secondly about this is that you have to have loyal customers who come frequently or weekly to patronage at your store. Third, you need to figure out how many days will you allow customers to view your films.
You should limit or max the viewing days up to five days for older titles and 3 days for newer title, giving them time to view all films. Four, the time rentals need to return to the store. You need to be flexible if you want your customers to be able to return them. So let’s say due after 10 pm midnight, so that they don’t feel the rush to return movies that they rented.
Step five, offer deals and discounts on snacks and specials at your store. Every customer needs to at least once in a while purchase snacks for movie night. So offer snacks for sale at your movie store, such as microwavable popcorn, potato chips, candy and soda. By doing so, you help them save time from going to the gas station or grocery store. Step six, have a drop off box available for returning movie rentals. So your customers won’t feel that they’re late or have to return later on to drop off movies. With those being said and if you can find a good place to open your movie store, then you are good to go.