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Business Idea Center - Coins and Stamps

Coins and Stamps

Business At A Glance
Startup Costs: $10,000 - $50,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? Yes

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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