You don't need a Physical Location.
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- Опубліковано 20 сер 2024
- Looking to discuss all things TCGs with other people who care?
Join the discord server at www.kitchentab...
Product and Merch- gamegrove.gg
TCGplayer Affiliate- tcgplayer.pxf....
Need to get in contact with me?
kitchentabletcg@gmail.com
Kitchen Table TCG
117 State Route 34
Box 6119
Hurricane WV, 25526
Magic the Gathering will always have a place in my heart, but I also love exploring new TCGs. I started playing games in college after years of failing at sports and have been addicted ever since.
Pokemon started the craze and addiction - moving me away from baseball cards and into the world of constant organization.
#mtg #mtgcommunity #Magicthegathering
#mtgarena #mtga #mtgo #mtgcommander #mtgfinance #mtgixalan #mtgneon #mtgMH2 - Ігри
literally chiseling away at 97 orders on tcgplayer while I watch this
That will take a bit 😂 good problem to have though!
Great video! You give a unique perspective and advice on how you started from nothing to have a successful business. I’m trying this approach now with selling on TCG player and posting sorcery videos on UA-cam! Thanks for being an inspiration Louie!
Yo yo yo. This model makes more sense right now than opening a physical store. This is literally what i’m doing right now. FT Tcgplayer (2.5 yrs) and UA-cam Channel. The risk is much higher in opening a store and profit is really not much higher it’s all about your cost of goods.
Thanks for the encouragement and insight Louie! This video has a lot of practical and valuable information. Kudos!!
Gosh this man is wonderful. I always enjoy your content! Your community is so blessed! Much love - Zeb.
replied. Sorry just been busy!
I totally understand, I was just in my head. I was like, I'm not a spammer I swear! :P@@KitchenTableTCG
It's hard to find a distributor without a brick and mortar. Even if you spend 50k a month on inventory.
They wont even allow you to buy MTG at wholesale, I have been trying for the last few years. They all want a Brick and Mortar
Some of questions about non-physical TCG businesses. 1. What address do you use for your bank account and state tax situation? 2. Do you need a business license in the municipality you are located? 3. Do you incorporate an LLC? 4. How do you track the accounting of adding your own collection to your LLC's assets? 5. Lastly, how do you not get boned on self-employment taxes?
Your home address or one of those mailbox services with a street address (not a po box), your social security
You don't need a business license to sell cards
You don't need an LLC
If you're going to give your LLC ownership of your collection for potential resale/tax reasons, I would talk to a CPA
Don't pay yourself or talk to your CPA for tax advice no how to minimize what you're paying on self employment tax
You mention that kitchentabletcg was started at your house. I remember bustin your chops for having secret lairs in the background of your first FaB video.....good times. Glad to see your growth and success!
I want to buy local collections but a local whale keeps buying them all here in the Hurricane WV area
I actually ran numbers of my collection vs. Trading it off to a gamestore vs. Psa grading. Psa grading takes an entire year to get your stuff back, in the mean time you have to pay for membership along with submissions. It only makes sense to sell massive amounts of stuff since you have a whole system. It sucks paying sellers tax and the damn shipping labels and paying for gas to go the post office lol.
Made most sense for me to trade in my stuff to a local card store for store credit to fuel my purchases.
It doesn't take a year lol it will take like 3-4 months at the lowest tier at most
@@TachibanaTengoku I think it's because I looked into it in 2020 when they were backed up. Lol.
Just have to say this has inspired me to officially start my own business. I especially loved the detailed breakdown about the importance of a good business plan and quality bookkeeping!
I wish I could keep ripping on you, but I'm not lying about that first part. I'm forming an llc to start making money off of fine geekeries, and it's because of your inspiring message, Louie, to bet on myself. And that's what I'll tell the bankruptcy court when it all turns south.
Oh yeah, and here's my wife pulling a Regidrago V alt art out of some Silver Tempest god packs I've acquired. A wise man once told me to be a personality in a world drowning in 'em, so here's a fire pull, at least.
ua-cam.com/video/hbtsB2TWT5k/v-deo.htmlsi=-KzI1uDpI7M0zPV2
Get it, friend! Glad to see someone hustling.
Proud of you and WV!
If I want to open a tcg store at home how would a distributor work with you because I've been told that you need a physical store in order do get products
You do!
You do need a physical store to work directly with a distributor, but some people, like Louie, let you buy from him at the prices he pays from the distributor if you're in his patreon
@@tbomb50 Well that seems very workable then. A bit counterintuitive for the LGS. It’s kinda like saying sure here’s some product be my competitor. But hey if it works it works. Its seems like it would work better with a micro distributor like Rudy who already has millions because of his wealth pre-MTG.
Great advice, I totally agree. You have to be willing to commit some real time and work at it for an honest effort.
Right on the money! It's not easy, but still arguably less risky than going the brick and mortar route.
I watched one of your older videos on how to get started selling singles. I took your challenge on becoming a level 4 seller on TCGplayer. The experience was mixed results. I was losing money after fees and shipping on smaller orders. I also made a mistake where I sent a PWE that was past the 3/4” width restriction (which I was not aware existed) and the order was RTS back to me. The buyer left a pretty bad review which hurt morale. I did eventually start hitting a rhythm and I was making a profit on orders and hit the level 4 seller. I recently updated my excel tracker and inventory so I’m going to continue doing this and hopefully make it a solid part-time endeavor.
Don’t get bummed by bad reviews. Do your best. Treat people well, and keep grinding!
Ton of good info here, awesome video Louie 🔥
I’ve had this idea for a while, is assembling who sets from bulk/collection buying and then flipping the complete set a thing? Like if I can buy a bulk collection and get 70% of say a DMU set at pennies on the dollar, can I then buy the cards I’m missing as cheap as possible and then flip the completed set for a profit? Is that a thing people do?
Online only would be amazing if you could get distribution that way. Unless you have been grandfathered in for a while by now you won’t be getting any distribution accounts without a physical store
Two difficulties I still have are sourcing collections and actually buying them. By the second part I mean more so the where, currently I usually meet at a local gas station which is obviously not ideal, especially to audit larger collections and they sure as hell aren't coming to my home where I have children....Sealed product is actually not too bad as I've found some stores close to distro pricing, getting actual distro is currently not possible without a store front and even then they told me it still was not a guarantee...
I wrote this before your convention comments, which are a great solution, though we don't get very many conventions in the area...
Whenever I read a comment how people in the US are scared to meet in person in their homes, I am stunned not more is done to improve that situation. For me just letting people pick up stuff I sell second hand at home (with children too) is so freeing. I hope it will get better in future
@@Chris3s My brother moved to Norway and it was trippy that you can camp in peoples yards and it's generally acceptable to walk through, here you don't even touch another mans grass 🤣
Not trying to be a dick Louie but how were the taxes on all those shipments you did during the pandemic? I’ve used eBay before and with the fees and shipping it wasn’t too profitable. Now add the IRS’s new law of reporting sales over a few hundred and I speculate very little profit. I see lots of hurdles taking my store stateside and online.
-conventions sound interesting for the single guy trying to make a buck. I never thought of that.
You should have been reporting any taxes on over $600 anyways, so this really doesn't change anything for sellers.
How do you get distribution without a store? PhD and Coqui require one and I agree with why.
The pros buy Khans!
if you're watching this, you probably have lots of product and lots of sources for product. It's the sales volume that's gonna pay off.
Almost no distro will sell to you without legit business.
Although you can make a deal with other stores to let you use their license.