Geoff Wilson and Cards HQ in Panic Mode?? | Where's the Market? | Become a YouTuber
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- Опубліковано 3 жов 2024
- EDI Sports Show Episode 3
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Where's the Market?
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From the beginning I have always thought and said the only way a card shop of that size has any chance of making it, is it needs a onsite grader like PSA SGC Beckett or TAG to move in. Then maybe if the novelty of walk in grading never dies they have a shot at surviving.
ty for the comment. That's a really interesting idea and I have never thought about it before. Hmmm. Well, SCI has a relationship with PSA, so you never know.
the issue he is running into is there is no VOLUME!! Burbank Sports has built up volume sales over 40 years. And they still dont sell enough. When the pandemic was hot - the hobby was hot. But now the margins are really squeezed.
You'd think PSA, Fanatics, and bigger card shops would be all over that by now. I'd drive the hour to Denver to get some cards graded over paying insured shipping both ways to California.
agree w this
Been following CardsHQ startup and totally agree with your assessment. I’m in pharma w/ mba. Their value proposition is very confusing. Seems they are using transparency and innovation to drive a perceived value for customers. I like their transparency, but the innovation is a bit confusing and never a huge demand in the current marketplace. Feel like this and other ideas were never a demand? Curious if they did any research that a rolling camera in their store would create value. They have all these new ideas, but it’s confusing and almost seems like backup ideas in the case the company starts failing. They straddle between some red and blue ocean strategy and stances… I’d take once stance… go hard… and stick to a value prop. I feel Atlanta was a bad choice. That’s a huge fixed cost that may turn into sunk cost when much of the strategy seems to be going virtual. I would’ve gone to an area with higher demand and opportunity for return to scales if they can expand. Maybe I’m being harsh but I do hope they succeed. They are being innovative and it could pan out, just risky.
ty for the comment :) Im glad you stated you had an MBA, because I was feeling on an island with what I was seeing. How would you feel if I chose your comment for next week's show? Its a great take on things and I think you point out some glaring mistakes. I really like the idea that you see that a lot of their strategies seem like "back up" what if we fail mentality?? I think they rushed the idea - I dont think they have very good advisors and I think a lot of what you said will come to fruition. My big question is did they "rent" the space or did they buy the space? If they bought the space - I dont have as much of a problem with it, because the real estate will save them in the end, even if the store goes belly up. They chose Atlanta because that's where he lives and it looks like Geoff needed a day job, if im being honest. Because he's now a full time card shop owner. So I would assume his marketing agency failed, his investments failed, - so this is how you get Geoff out of the house - if im being honest.
@@edisportscards6275 Yes, feel free to comment further on my take. I have so many other thoughts on their start-up! It seems like they chose Atlanta based on ease and convenience. I might be wrong, but I would hope they did research and found that the Atlanta and surrounding area has a large number potential customers. However, seems they are spending money on findings customers via the web outside of their location... will be interesting to see how this pans out. I can sense they have alot of plan Bs. They quote Fanatics "10x the hobby" alot. It is a dangerous game to live in the shadows of another company's stretch goal. Fanatics would be a great partner or potential to be acquired.. but i'd focus on a clear value proposition, proof of concept and ability to scale independent of the big names.
@@edisportscards6275 yes, np to highlight/mention anything I said. Long story short, I have many other thoughts, but I do hope they succeed in the end for the hobby. One last thought (as I have many lol)... I hear them talk about 10xing the hobby quite a bit. I keep seeing plan B's or possibly exit strategies. It's a dangerous game to live in the shadow of another company's stretch goal. I'd focus on value proposition, profits and proof of concept (once they have a defined concept) vs inflated social media hype to gain notoriety
14,000 sq feet sounds like an ego trip not a sound business model.
I don't agree with Pat Mahomes comments. I think he will be a winner his whole career. The hobby always gravitates to young unproven players. That keeps the card market going. 🧑🎤
ty for the comment. :) Here's what I will say. It's discussions and agreements and disagreements like this that make YT fun :) Only time will tell if you're right or I'm right. But in the meantime, we get to enjoy watching sports and having that "argument" even though we aren't really arguing. u know?? Thanks for subscribing and glad ur on board.
CHQ will get a bounce once the NFL draft and season starts. This 2024 class is QB laden and full of skill position players (mostly WR) and looks to be really good. I also think he'll get a bump once Fanatics gets the NFL and NBA cards going again. I personally can't wait to rip some NFL Chrome and Finest!
ty for the comment :) does that mean you have bought cards from CardsHQ so far?
@@edisportscards6275 Nope, not yet
Ok - yea ive only seen one person who has. That doesnt bode well for the shop. :(
I started to put together a watch list on eBay to start picking up cards from the 1971 Topps baseball set (the year I was born). First card that I put on my list was Roberto Clemente. I also put Willie Stargell, Pete Rose, Reggie Jackson, Nolan Ryan and Thurman Munson on the list. (I'm particularly interested in Munson because I live near where he comes from) I think I'm going to try and pick up more Clemente cards, as well, because he's got a great story.
As for Geoff's store, I think it's doomed. I don't want to say that I'm rooting against him, because I think he's got a lot of good intentions, but one, I can only imagine the cost of a store that size, and two, I can only imagine what kind of cards he has in it. If he's only catering to those that can afford the kinds of cards he touts on his channel, then he's only working to sell to like the 1 or 2% of collectors that can afford them, out of all the collectors just mainly in that area of the south. The numbers just don't add up to something that would make a store viable, especially long-term. The intentions were good, but I just don't think it's going to make him any money, with where the market is right now, and where it's headed still. Again, great video doc! Thank you!
ty for the comment. Thats a great set. I could have sold you some of those cards, I had a few of them in the case I recently lost at the AZ State Show. The only one Im looking for from 71 is the Ryan card, the problem is people are asking a lot of money for an ungraded card. But thanks for watching and hope you enjoy the channel :)
I don't think Cards HQ has a brand awareness issue. I think many in the hobby/industry are aware of Cards HQ. The issue is that the person who's the face of Cards HQ has a brand issue. I don't have anything against Geoff as I think he pivoted to providing content that he should've been doing from the start (Staying away from providing player recommendations). Geoff's brand isn't as strong as you'd like for someone taking on such a big endeavor. I've bought from Cards HQ and have nothing but positive experiences, but due to Geoff's past, a lot of potential customers won't give Cards HQ a chance. Geoff has to find a way to improve his personal brand.
ty for the comment :) Im actually interested in talking to you because of what you just said. "Ive bought from CardsHQ." So that's unusual. I have not met one person who has bought anything from his store. I dont think that I will buy anything from his store. And the reason is because of brand awareness. I have no idea the point of Cards HQ. Like why should I care as a collector? And thats because Geoff Wilson hasn't done his homework and the research to figure out "who is his customer?" It sounds like to me, that Cards HQ might pivot into TCG as most hobby shops have done - because the people who run the shops do not know the first thing about selling products or building a brand. But I would love to chat with you to listen to why you checked out Cards HQ, what you bought? and why you might go back to them? Because Im not here to bash Cards HQ or Geoff - Im just giving the facts. The hobby and the world do not know the "value proposition" of Cards HQ. Like why go there, when you can go to Chasing Cardboard or Burbank Sportscards? It seems to me if its head to head completion, Cards HQ is going to lose every time.
@@edisportscards6275 I bought because I was interested in how the live selling on WhatNot would work. I've bought basketball cards from the daily live selling that the shop offers. Good variety and it moves quickly because the auctions are sudden death. I've bought about 10 cards so far.
This is a joke right? It’s been a few weeks. Leave the man to fail or succeed.
Brand awareness is not and issue for SCI
Trade Mahomes 😂😂😂😂
ty for the comment. If you are unloading a Mahomes Optic Rookie, Im looking. Since you think its worthless.
I believe you're being facetious with your comment, but not sure?? Leave who alone? SCI?? Why would I do that? Is he a snowflake that can't deal with honest feedback?
All im saying is that his card shop is in trouble. Im not rooting against him - but its a fact.
Most shops have a “soft opening,” so it’s not a surprise that opening day at Cards HQ was a little light. Geoff is better funded than most small businesses… he’ll be fine.
ty for the comment. I appreciate your perspective.
I don't anyone who would question your choice of Acuna but aren't you a little late to the party? Seems like a sure bet but I would have thought you would have at least gotten aboard as late as last year. I see you are a blackhawks fan which is nice as I plan to open a new store in Chicago. I say this because Jeff's store will be just fine. The local was never going to make it when you charge full comps on everything and won't discount anything. However he will make up for it with his internet sales. People will pay more for "perceived higher value"
ty for the comment. I hope you are right about Cards HQ, but it remains to be seen. Unfortunately we don't get to see "numbers" from Burbank Sports - but I would imagine their sales are down - which is why he decided to start sponsoring a local card show.
Burbank has lowered the prices they are willing to pay for cards - people need to be aware of that.
Also, if you plan on opening a store - how many sq feet and how will you handle "buying collections?"
@RobertLee-wi5kc Geoff started an oversized card shop so that he can use internet sales to fund the losses? And his shop will be just fine? Makes total sense what you're saying.
why will his shop be just fine? Unless they bought the building - CardsHQ is a financial sinking ship. They will not break even. So how long can they go with cash burn?
@@mjh8492 Guess one of us will be right in 6 months or so.
Technically…it’s the TOP 5 cards going up statistically. His business tracks data and he’s giving you 5 free picks of athletes who’ve hobby attention has sky rocketed the most within the week between each Top 5 picks.
That being said, it’s not time to buy those cards. It’s time to sell. He even stats this often as a disclosure but it’s also a no-brainer.
ty for the comment. If you want to get "technical" his app is broken and so the "DATA" if you want to call it that isnt tracking anything. But you are allowed to believe anything you want.
His app only web-crawls eBay - which includes scam sales, returns, shill bidding, etc. If you want to use that unreliable DATA - again, you have every right to do so.
I do appreciate your comment. I'm not sure if it helped kids understand the hobby more - but all comments are welcome here :)
@@edisportscards6275 You’re gaslighting this topic by dragging other debatable opinions into the discussion. Regardless of if you believe the information being presented is real or fake, they’re not presenting it as the TOP 5 cards to buy like you stated. That’s all I addressed in my rebuttal.
@@edisportscards6275 I’m no fan of the app, but it pulls in data from multiple sources, not just eBay. There’s no real way to exclude shill bids… on the buyer and seller know that for sure. So to complain about that is like complaining that water is wet.
@@edisportscards6275 they could be using Terapeak which only lists stuff that was paid for.
its not gaslighting when someone points out the truth. What you are doing is gaslighting. And maybe you should re-watch their videos. He is very careful not to say "you should buy" these cards - except thats exactly what he is doing. He is telling you "people are buying these cards" - so what do you call that? I call that promoting sales - promoting what you should buy. Again - his TOP 5 are not the REAL Top 5 anyway. Its all just one big FICTION!! And not calling it out is the real tragedy.
I am not a fan of JW advice on what cards to purchase for investment purposes however I hope his business is successful. This is coming from a collector not investor point view.
ty for the comment. And I hope you will continue to come back to the EDI Sports Show. My goal is not to vilify people in the hobby. It would be good for the hobby if Cards HQ is successful, but I think Geoff is trying to "chase" trends - and thats why I think he will fail. If he can stop doing that, and start running a real business with the customer's needs first - then he will be successful and it could be good news for the hobby. But his main challenge is figuring out that what works on social media, does not work in business. As I said in the video - what is the value proposition for Cards HQ? According to himself, the value is if you go to his shop you will save a few bucks. Whether he wants to admit this or not - that's not a reason to buy sportscards. When a hobby box already costs over $200, saving $10 isn't the reason why people buy or not. What the hobby has done is price out the next generation. Which is why they want Pokemon more than sportscards.
Enjoyed it. Like the Black Hawk jersey. I am kinda surprised that Geoff Wilson opened Cards HQ. Just seems like a really risky endeavor. I don't think people see card shops as getting the best deals on sports cards. I would probably go to a local card show over a shop. If I went to a card shop I would be looking to buy newer products and if I owned the shop I might not even sell Vintage even though I like Vintage a lot. Also for me Vintage just has to be graded. If you have some attic find or something I could trust the cards were not tampered with but otherwise Vintage for me has to be graded. I like Juan Soto and Patrick Mahomes on your list of cards to be interested in. Yah I am hearing people getting more excited over CJ Stroud lately but Mahomes makes a lot more sense.
ty for the comment. I think we need to separate rookie prospecting from collecting in the hobby. And maybe thats something Ill address in future shows. its a really great point.
theres nothing wrong with CJ Stroud, but spending a lot of money on him might not be a good idea.
The biggest problem with SCI is his lack of transparency. You honestly have no idea what the "real" story is. He just lies too much and uses marketing to tell a narrative, which later turns out to be fake.
If he spent $3 million to buy that building in Atlanta- then I think it was a smart business move. But if he's renting that space - I think he's proven he's a bad business person.
It would be extreme level dumb to not even have vintage in a sports card shop....not being rude I promise but I am sincere.
Only a novice would say this, and yes I have bought many sports cards for the shop. Vintage cards particularly. At a shop, you get flooded with customers and some open then products bough there. This mass numbers that people buy and right then or later turn around to sell to us once ripped are on the newer end of spectrum. U get so many more newer cards being offered up that someone wants to get rid of.
1-that stuff vs older true vintage is much more volatile in price swings namely down fyi not just. Right now either
2 -shops buy from someone not at 100 percent, each different but generally will pay between 50 percent of company to 70 percent of comps.
3. With experience vintage is easily, easily identified when real and to turn down the less volatile safer bet that's brought in much less that new stuff. You have to have this stuff, people want to buy it in the store. So if it comes in less, and u are giving them possibly half value on the one or two good buys that day it's like picking dollars off the ground it really is bec that stuff will sell.... Always... And the other 20 people that day are bringing you stuff 2020 and after, more & more overprinted all the time.
You have to really know what your doin but if u are around cards long enough and actually dealt with them longer than dudes like the sports dad then u are good to go more than likely to start. Don't get anything you aren't comfortable with, and yeah u are gonna make mistakes but u will get better &better.
Try this out, familiarize yourself with each year vintage.. take baseball.... Get a common card in the set and take it out, look at it, feel it... And believe it or not, smell it..... If u cant tell a real one from a fake one u are in the wrong line of work.
I'm sorry I got some typos and a cracks in my screen ... I gotta get a new one but hate dealing with cell phone carriers in general. Printing processes have changed and some things down to the paper, the ink, gloss l, or whatever sometimes can't be replicated. When u know u know
Been in and out of the Hobby since 1987 and owned some great Vintage cards. Like a PSA 7 1952 Mays a few 1955 Hanks Aaron SGC 8 & 8.5, some great Mantle's. Never, not even once did I buy a Vintage card at a sports card shop. I'm sure they have them though. I bought them all at Card Shows and on Ebay. Yes you had better know what you are doing buying Vintage today. I personally would not buy any Vintage cards not graded. Back then I did sometimes buy ungraded, sometimes did very well and sometimes ended up buying trimmed cards. If you own the shop you can market it anyway you want, but if it's me it's modern. If I have Vintage it's just a showcase item in the store. Too much theft, too much haggling over comps. Modern is what people want because that's what they see on TV and hear about mostly and its much easier to deal with.
P.S. I like the Clemente pick but only if they are going to make a movie about him. Also he crashed by Puerto Rico and was on his was to Nicaragua which is Central America. Proving my point that most people have no idea who he was and that he just died in a plane crash taking supplies for a earthquake relief.
ty for the comment. Is Latin America different than Central America? If it is - my apologies. Maybe I should have just said South America and kept it safe.
If you're waiting for a movie to make players relevant - then there aren't many players you should buy. Sports in general is down in popularity. And sportscards follow sports trends.
@@edisportscards6275 Well first off you did say South America and that doesn't "keep it safe" South America is South America, a continent. Central America is north of South America and the Caribbean Islands. As far as Latin America it is a collective area that is only recognized by the language that derived from Latin, the Romance languages Spanish/Portuguese and French.
ty :)
Cards HQ doesn’t have “enough customers” or “enough revenue”? Wow… I didn’t know that Geoff Wilson was sharing that info with you. You are better connected than I thought!
ty for the comment. Im just going to assume that you're being sarcastic. Geoff published his 1st week's sales numbers. And he talked about the strategy for his business going forward. I dont assume people follow everything in the hobby - which is why I was reporting on it. But I dont know what you know or don't know, but I appreciate you watching.