Can my hobby be turned into a business?

11 years ago

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11 years ago

You want to start that card shop online so you can sell to people around the world. Would you rather get foot traffic from a few individuals a day or potentially hundreds or thousands of visitors per day from card enthusiast from around the globe?

Also, you may decide to start a platform where individuals can sell their own cards to other members and you take a small commission of each sale. So now you don't even have to own the cards or make the sale. You just let other sell and trade and earn profits from their efforts..

Designing and creating these websites and platforms is an entirely different topic, but I'm giving your options and ideas to think about.

Thanks
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CheffWildRose 11 years ago

Originally Posted by JakeStatler

You want to start that card shop online so you can sell to people around the world.

That would be quite a task. Like I said in my post, I'm still gonna save up for whatever business it is that I will start. I'm pretty sure I can't do a worldwide business yet. Anyways, you're idea about a website is pretty great. It could be an online shop for players to sell cards that they don't want, and I get to be the dealer. Thanks for that idea!
- Thanks
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Amazing Money Stories

11 years ago

Originally Posted by JakeStatler

You want to start that card shop online so you can sell to people around the world. Would you rather get foot traffic from a few individuals a day or potentially hundreds or thousands of visitors per day from card enthusiast from around the globe?

Also, you may decide to start a platform where individuals can sell their own cards to other members and you take a small commission of each sale. So now you don't even have to own the cards or make the sale. You just let other sell and trade and earn profits from their efforts..

Designing and creating these websites and platforms is an entirely different topic, but I'm giving your options and ideas to think about.

Jake you are on fire!

I had a hair stylist friend who also owned her salon and she made great money but I mentioned to her that other hairstylist would love to see videos of her creations and once she adopted that she never looked back. To this day still doing very well.

I love the thought of making money in my sleep or if I get sick or something.

Information is a goldmine and lots of ways to present it. Like Video games guides they get alot of customers.

Thanks
1 reply

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Steve B 11 years ago

Prove demand before you spend a lot of time and effort. It doesn't take long and it will allow you to build a business on a solid foundation.

See if you can determine how many people would be interested in this kind of business and where you might find them hanging out online.

It's one thing to have a hunch that something will sell online . . . it's quite something else to discover the real demand for a product or service.

Your market research should include identifying other similar businesses, what they are offering, where they advertise, where they have established "footholds" and "inroads."

Do your homework first.

Steve
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- CheffWildRose 11 years ago
  
  Originally Posted by Steve B
  
  Do your homework first.
  
  Will do! The demand is quite high here in my area but I still need to make sure if that demand will last. It might be feasible for the first couple of months but what about in the near future. Thanks for that helpful tip!
  
  Thanks
  
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Tsnyder

11 years ago

Originally Posted by CheffWildRose

I have only been playing Magic the Gathering for about a year and I find it amazing that some of the cards within the game can be sold for around $20-50 per piece. I've been thinking about buying booster boxes and opening each pack then selling each card individually but I am not that sure if it will be successful. Once I earn enough from selling cards through small transactions and my savings from my day job, I plan on opening my own hobby shop that sells Magic the Gathering as well as other trading card games.

What do you guys think? Can my hobby be turned into a successful business? I'm not rushing it, I really plan on starting from something small rather than invest directly into a business.

Yes, it can.

Thanks

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Vin Venture

11 years ago

Having played Magic in the past, and being a computer science student with classmates who currently play it - it's definitely a profitable niche. But I would recommend staying away from buying booster packs with hopes of making a profit off selling them individually, it's pretty much a crap shoot. That's not to say it's IMPOSSIBLE to make a profit off it, but you're gambling big with it and there is nothing you can do to raise your odds.

If you're really passionate about your hobby though, and if you intend to open your own hobby shop in the future, why not start with a blog or website dedicated to Magic? Given the nature of the game, I don't know how many people buy decks/packs online vs going to their local comic or hobby shop but I'm sure there's potential for some affiliate sale through Amazon and the like.

EDIT:
Just read Jake's post, and I definitely like the idea of creating a site for others to sell their own cards. I'd be surprised something like that isn't already out there, but if there is you could find out what they do and how they do it, then improve upon it. Given that most hobby shops don't like their customers selling to other customers, typically making it so they have to buy/sell to the shop itself - there's potential there!

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AdwordsMogul

11 years ago

As the other posters have already said, you can turn this into a business.

In order for you to succeed, you need to have the right mindset.

You've got the basics right - there are people out there who pay for this stuff. However, you'll need to dig a bit deeper. For example:

- at what level are people really ready to invest a good amount of money into this?
- what's their age group?
- what's their motivation? What are they trying to REALLY achieve?

You seem to be in it for the long haul. So, the best way will be for you to start a blog and a mailing list. Use it to understand your market better, and to develop relationships with the buyers and the community.

Also, it's a good idea to start selling as well - the only things is that you must look at your initial sales process as a way to gauge response. See how people react, what makes them buy, what cards they're most interested in buying and why.

Then take it from there - for the most part, it's about following the process of discovery by doing and paying attention to what happens.

Good luck!

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internetmarketer1

11 years ago

Originally Posted by AdwordsMogul

As the other posters have already said, you can turn this into a business.

In order for you to succeed, you need to have the right mindset.

You've got the basics right - there are people out there who pay for this stuff. However, you'll need to dig a bit deeper. For example:

- at what level are people really ready to invest a good amount of money into this?
- what's their age group?
- what's their motivation? What are they trying to REALLY achieve?

You seem to be in it for the long haul. So, the best way will be for you to start a blog and a mailing list. Use it to understand your market better, and to develop relationships with the buyers and the community.

Also, it's a good idea to start selling as well - the only things is that you must look at your initial sales process as a way to gauge response. See how people react, what makes them buy, what cards they're most interested in buying and why.

Then take it from there - for the most part, it's about following the process of discovery by doing and paying attention to what happens.

Good luck!

Going for the long term is always useful.

Great post

I've never done this kind of business, obviously, but I find that this post helped get me a better understanding on this subject.

I have sold cards but in a different gaming niche, and definitely differently.

Thanks

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CheffWildRose

11 years ago

Originally Posted by Vin Venture

If you're really passionate about your hobby though, and if you intend to open your own hobby shop in the future, why not start with a blog or website dedicated to Magic?

That's actually a great idea, but I still need to know more about Magic to actually be able to start a blog about it. Maybe a newbie's blog would be great for me and other starting Magic players. Can you give me an idea on what kind of blog I could start with that will have others flock to my blog that are in or may not be into Magic. Thanks again for your reply!

Thanks
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Vin Venture

11 years ago

Originally Posted by CheffWildRose

That's actually a great idea, but I still need to know more about Magic to actually be able to start a blog about it. Maybe a newbie's blog would be great for me and other starting Magic players. Can you give me an idea on what kind of blog I could start with that will have others flock to my blog that are in or may not be into Magic. Thanks again for your reply!

I'm going to tell you two things and I hope you take them to heart, because I wish someone had told me them 5 years ago.

First, don't WAIT until you "know enough" or are motivated enough to do something - just get started. If you wait for motivation to work, or wait until you feel you're knowledgeable/skilled enough to do something there's a good chance that something will never get started at all. Learn as you go. The more time you put into it, the more you will learn. Even if it's just sharing your thoughts about your hobby, or why you enjoy it, what you want from it in the future, what you're excited about that's happening with it, anything!

Secondly, I wouldn't recommend setting out with the goal of creating a blog that people will "flock to"... in my eyes that's the same as trying to design the next Angry Birds or FarmVille. If you start trying to design something around how successful you want it to be, you risk getting something you don't want, something you have no personal investment in. If
you're genuinely interested in what you're writing about there's a good chance people will enjoy reading it. If people enjoy reading it, they will share it and things will grow from there!

Just my 2 cents though, do with it as you will

.

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onSubie

11 years ago

Originally Posted by CheffWildRose

I have only been playing Magic the Gathering for about a year and I find it amazing that some of the cards within the game can be sold for around $20-50 per piece. I've been thinking about buying booster boxes and opening each pack then selling each card individually but I am not that sure if it will be successful. Once I earn enough from selling cards through small transactions and my savings from my day job, I plan on opening my own hobby shop that sells Magic the Gathering as well as other trading card games.

What do you guys think? Can my hobby be turned into a successful business? I'm not rushing it, I really plan on starting from something small rather than invest directly into a business.

Yes it can. But opening retail packs looking for high-value cards is not the best way to go about it. The chances of finding enough high-value cards to make it worth while is petty low.

It is better to look for high-value cards that are being sold cheaply that you can re-sell at a profit.

A card may be "worth" $10 but it is unlikely anyone but a retail outlet will get $9+ for that card. So offer $4 so you can flip it for more on eBay.

Look or make offers on Craigslist, Kijiji, garage sales, etc.

Also make offers. A lot of people have cards they no longer use and do not know the value. They don't have the patience or knowledge to pick through their collection for cash.

Look for "complete collections" for sale or make an ad yourself "Magic Cards Wanted - Complete collections purchased".

I remember my sister had a little box of hockey cards. Didn't collect them but had them because guys she dated in highschool would give them to her or she would get a few hockey cards because the guys thought it was cool.

Anyway, a few years ago I was visiting her and asked about hockey cards so she showed me her tiny collection. It was only about 20 cards but one was a Mario Lemieux rookie card.

Thanks
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CheffWildRose 11 years ago

Originally Posted by onSubie

It is better to look for high-value cards that are being sold cheaply that you can re-sell at a profit.

I actually took that into consideration. That's actually one of the main reasons why I thought about selling cards in the first place. I currently have one Mana Confluence (FOIL) which was $30 before if I'm not mistaken and now currently at $50. The prices of some cards go up while others go down. It depends on how much that card is used though and it's not that easy to make predictions. Thanks!
- Thanks
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Tom Addams

11 years ago

Okay . . .

I can't comment on that game, unfortunately, since I don't play it.

But . . .

I do operate several highly-successful and old businesses in similar gaming environments.

And have done for well over half a decade.

So, my tentative answer, would be a resounding yes. It's actually funny you should make this post now. On another monitor, I'm winding down by running one of those gaming businesses. Amazing, hey? Spend all my day working online, then work online in my free time for fun! haha

GRM

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CheffWildRose

11 years ago

Originally Posted by Get Rich Methods

I do operate several highly-successful and old businesses in similar gaming environments.

And have done for well over half a decade.

Wow! That's great! I just hope when I start this business I get to last as long as your business. It really depends on the demands and number of players here. I just hope that no one quits and that they just keep on playing and playing! Thanks!

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Tom Addams

11 years ago

Originally Posted by CheffWildRose

Wow! That's great! I just hope when I start this business I get to last as long as your business. It really depends on the demands and number of players here. I just hope that no one quits and that they just keep on playing and playing! Thanks!

You're welcome!

It makes okay money for me, especially when you consider it a hobby. I'd love to say more, but I know this post would be indexed, and I try to keep my persona on the other locations separate (for now). I share your concern, though. Some of the platforms I use have this same group-concern: is this place going to be around in another 5 years, in another year? It kind of irritates me, too. You'll often see what the owners of the platform are doing wrong and thinking to yourself: Jeebus, do this, do that, population's dwindling! I have high hopes for Oculus Rift.

Anyway - best of luck. You're entering a really exciting field. Like I say, I can't comment on that game in particular, but overall its a fantastic way to combine fun and profit.

GRM

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CheffWildRose

11 years ago

Originally Posted by Get Rich Methods

Anyway - best of luck. You're entering a really exciting field. Like I say, I can't comment on that game in particular, but overall its a fantastic way to combine fun and profit.

Thank! I've always believed in making what you love an extra source of money fulfilling, It's just that I'm currently scared of taking that leap because I might hate my hobby if ever I fail to turn it into a successful business, again, thanks for your insights.

P.S. I too have high hopes for Oculus Rift, especially for Star Citizen!

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Intrepreneur 11 years ago

Any hobby can become a business but is it sustainable and something you can grow to live comfortably from?

That's the question you need to ask.

A business can sell as little or as much as you like, but it's what you need to survive that counts.
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- CheffWildRose 11 years ago
  
  Originally Posted by Intrepreneur
  
  A business can sell as little or as much as you like, but it's what you need to survive that counts.
  
  Wow, I never actually looked at it that way. Thanks for that eye opener! Will always keep that in mind from now on.
  
  Thanks
  
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Jerome15 11 years ago

as a card collector ( nba ) i made a site where i put some of my collection for sale and trade. Most of the time im doing my trading and selling transactions in nba card related facebook group or forums you might find someone who's needing what you have.
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mrhmamun 11 years ago

You are right Mr.CheffWildRose
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iAmNameLess

11 years ago

Maybe try looking into how much they're selling on ebay first. We used to have a place around here that sold them along with other stuff like that but they closed a couple years ago.

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Matt Lee

11 years ago

My question is, then why wouldn't others just buy the booster box and get the $20-$50 cards for themself? It could work, it's simple supply & demand but you have to make sure that your profits are more than your investment, and for that you need to do your research.

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CheffWildRose 11 years ago

Originally Posted by Matt Lee

My question is, then why wouldn't others just buy the booster box and get the $20-$50 cards for themself?

Because some people are only looking for specific cards and would rather pay for that card than risk buying a booster and getting another card. For the research part, I've been cross referencing all the prices of the cards I sell on 3 different sites. Thanks for your reply!
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Mark Benedict

11 years ago

You could start off with simply selling MTG Cards and have your store sanctioned by the Wizards so they could allow you to conduct Tournaments and big events. With that being said, more people will go to your store to play and buy MTG products.

Good luck with your business!

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Charlottemur

11 years ago

I don't think people would prefer buying each card for such high value.

Thanks
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CheffWildRose 11 years ago

Originally Posted by Charlottemur

I don't think people would prefer buying each card for such high value.

Some people would rather pay a card at full price than buy a booster and get something that they don't want. Sometimes they would have wasted more money on buying boosters and still haven't been lucky enough to get the card that they want. But thanks for that and I would put that into consideration.
- Thanks
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Entrecon

11 years ago

Do some research. Do some Google searches and see what others are doing in the market. Find someone in another area that wouldn't be a direct competitor and reach out to them and ask them about the business.

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Rick Rodd

11 years ago

Collectible Cards alone won't make the cut. Add some comics and action figs there, and turn it to some anime' and curio fan shrine or something. You get the drift.

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CheffWildRose

11 years ago

Originally Posted by Rick Rodd

Collectible Cards alone won't make the cut. Add some comics and action figs there, and turn it to some anime' and curio fan shrine or something. You get the drift.

That's what I intend to do in the long run, I plan to have a pretty big hobby shop! Thanks for that!

Thanks

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bizgrower

11 years ago

I once found a certain collectible ceramic mouse in a tea cup for a friend of a friend.
She paid me $50 or $75 and she bought the item from the source for $15 plus shipping.
It was for an older lady who did know how to 'net the surf' lol -and I was not expecting any pay.

Perhaps you could add that service for all hobbies/collectibles as well.

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yukon

Banned 11 years ago

Originally Posted by CheffWildRose

I have only been playing Magic the Gathering for about a year and I find it amazing that some of the cards within the game can be sold for around $20-50 per piece. I've been thinking about buying booster boxes and opening each pack then selling each card individually but I am not that sure if it will be successful. Once I earn enough from selling cards through small transactions and my savings from my day job, I plan on opening my own hobby shop that sells Magic the Gathering as well as other trading card games.

What do you guys think? Can my hobby be turned into a successful business? I'm not rushing it, I really plan on starting from something small rather than invest directly into a business.

Unless you live in a heavily populated area I imagine most of your sales would be online.

My advice is search Google Maps for your keyword (the gathering) & research what those businesses (offline comic book stores) are doing. How are they staying business (probably online sales)?

Thanks

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Can my hobby be turned into a business?

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