About Startup Costs
The startup costs provided in this database include an approximate financial investment that will be needed to start the business. This is generalized information and should only be used as a yardstick to determine business startup costs. Your investment will vary based on factors such as equipment, transportation, licensing and permits, operating location, working capital and initial marketing and advertising budgets. Remember a successful entrepreneur is one who carefully researches and plans every aspect of a new business venture, including the financial investment needed to start a business and the working capital required to achieve positive cash flow.
Business At A Glance
Coins and Stamps
Startup Costs: $10,000 - $50,000
About
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? Yes
Feed your collecting soul with a store that buys, sells and trades collectible coins and stamps.
Business Overview
Opening a retail store that buys, sells and trades collectable coins and stamps is a good business venture for the hobbyist coin and stamp collector to get going. The store doesn't need a great amount of square footage, as the inventory is compact. As a method to reduce startup and operating costs, consider a joint venture with another retailer. Good matches for this type of shared retail space include pawnshops, comic book retailers, and memorabilia stores. As is the case with any retail venture, the goal is to buy low and sell high; thus, you must possess strong negotiation skills and have experience identifying the condition and value of coins and stamps.
The Market
Coin and stamp collectors
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