Hey! Maybe I will fly down then...

Frank,

Find out if the old owner charged a deposit or not for his subscriber's pulls...

That might be an issue to them if you do..

I really don't have a set limit for books on a subscription list. I like them to have at least 5 but I do make exceptions for younger readers who might only want 1 title such as Teen Titans GO or the readers who only want the Star Wars books. I give a 10% discount to my subscribers on new books and DC and Marvel trades that are pre-ordered. No discount for table hoppers.

On another note, if your are going to carry action figures, be careful what you order. Do not try to compete with Toys R Us or Wal Mart. You will lose this battle. We have stopped carrying anything that can be found in these stores except for the Marvel Legends figures. We have had great success with the DC Direct and Marvel select figures. We have done away with all McFarlane action figures, because we cannot sell them as cheap as the chain stores.

A item we have great success with is trades. We keep over 1000 Marvel & DC trades in stock. We do not stock deep on individual titles except for certain ones we know we will sell quickly. With Diamond, you can restock in as little as two days if you sell out of a trade.

Back issues will probably be your lowest selling department. Unless you have the room, do not overextend yourself with these. Because we have a 3000 square foot store, we are able to have over 120 boxes of back issues. But they move very slowly.

I highly recommend a POS and inventory system. I use Comtrac by Mel Thompson. This system is set up especially for comic stores. Besides the inventory and sale programs, it has subscriber and ordering programs that ae very convenient. The system is not hard to learn.

Again, I wish you luck in yor purchase.

Thanks again, John.

He does have a Comtrac program already on his computer, but he said it was expired. He also has unused POS equipment under his register. So I'll look into incorporating them.

One other question:

When I go to get my DBA, what are the advantages and disadvantages of setting up as a Sole Proprietor, LLC or Corporation?

If this is too difficult to explain on a message board, feel free to email me. (fcarrera3@earthlink.net)

Congrats, Frank and good luck.

Some small caveats:

Just be fair. Karma may be quicker in business than the rest of existence.

Beware the back issue market. Concentrate on new stuff. Always recognize that just because a guide suggests that a book is worth x amount doesn't make it sell. Price realistically-- do you want to be a gallery or do you want to eat? When doing trades make sure you coming out ahead. If Johnny Mylar offers 90's Marvels for this week's releases inform him of the history of supply and demand. Learn to grade accurately. Check the centerfolds and letters pages in old 60's and 70's Marvels. Count the leaves (16). Rarely hit a customer. Don't have T&A posters all over the store. Don't have them anywhere in the store. Over-order Simpson's comics-- there is always back issue demand. Remember to tip your waitress. Order for the rack as well as for your subscribers. Order to sell through 90% of your titles. Have fun.

Good luck with the new business Frank.

Alot of comic stores that I know of now, get in the ebay thing with rare back issues or nostagia merchandise.

One new resource just popped up that you may want to look into. ComicsPRO is a new organization "to promote the progress and development of comic book retailers, to assist the development of better marketing and daily business practices for comic book retailers, and to improve the condition of their industry by educating the public about comic books in general." Some good folks are involved.

http://www.comicspro.org/

20 percent cash, 40 percent store credit, which is the same thing.

Ebay is a good idea, but very time intensive to make any decent money at it, but when you pick up that What if #119 or that Green Arrow 149 or any other of those wacky 35-50 dollar books for cheap when you buy collections, that's the place to "dump" them.

Like that spidergirl what if still gets that kind of money, as does the black ASM (36? 37?) and that last GA too, there's a bunch of them to always be on the lookout for.

It's all about the filing. A sole proprietorship means you alone are responsible for everything taxwise. A joint partnership lets you distribute the ownership (and subsequent liability) to your partner in any percentage you feel good about.

I've done my taxes as both for comics outpost, so I can fill you in on either next year when you file. Forget the LLC, you don't need to incorporate.

You just have to decide if you want to call you wife a partner (which you can do), then when it's filing time if it's a joint, you'll be filing

a form 1065
2 form w-4's (one for each partner)
a depreciation and amortization thing

hey fuck frank, fly me down to your shop and feed me, and I'll reimburse you by doing your taxes next year for you

I just might hold you to that, Jack.

I'm meeting with my accountant next week to go over a few things. But I'll keep that in mind.