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<p>[QUOTE="Blaubart, post: 1481842, member: 37498"]I live in a small city of just under 40,000. We have quite a few pawn shops and one coin store and I know a guy who is seriously thinking of starting another. He does enough business buying and selling on craigslist and to people he's established relationships with that I think Bozeman can support two coin stores. It doesn't hurt that his parents own a few coin stores in two states that charge sales tax.</p><p><br /></p><p>I suppose much would depend on how wealthy your community is and if they like to buy and sell coins. It seems people here in Bozeman are wealthy enough and do like buying coins, so <40,000 people should be enough to support two coin shops. It could be that your community of 80,000 might too, but you'd have a better idea of that than I would.</p><p><br /></p><p>As far as getting a loan goes, I'm the kind of person that likes to keep debt to a minimum, but there are also advantages to leveraging your business using someone else's money. It helps you realize much better profits when times are good. However, you will also see much larger losses when times are not good.</p><p><br /></p><p>Do you have a college nearby that offers business degrees? If so, you might be able to tap into it for advice. Our university is always looking for local businesses for the students to work with to satisfy their degree requirements. They could help you write a business plan, brainstorm to identify all the fixed and variable costs that you'd encounter, calculate all the various financial ratios for a few different approaches, design a web site for you, etc.[/QUOTE]</p><p><br /></p>
[QUOTE="Blaubart, post: 1481842, member: 37498"]I live in a small city of just under 40,000. We have quite a few pawn shops and one coin store and I know a guy who is seriously thinking of starting another. He does enough business buying and selling on craigslist and to people he's established relationships with that I think Bozeman can support two coin stores. It doesn't hurt that his parents own a few coin stores in two states that charge sales tax. I suppose much would depend on how wealthy your community is and if they like to buy and sell coins. It seems people here in Bozeman are wealthy enough and do like buying coins, so <40,000 people should be enough to support two coin shops. It could be that your community of 80,000 might too, but you'd have a better idea of that than I would. As far as getting a loan goes, I'm the kind of person that likes to keep debt to a minimum, but there are also advantages to leveraging your business using someone else's money. It helps you realize much better profits when times are good. However, you will also see much larger losses when times are not good. Do you have a college nearby that offers business degrees? If so, you might be able to tap into it for advice. Our university is always looking for local businesses for the students to work with to satisfy their degree requirements. They could help you write a business plan, brainstorm to identify all the fixed and variable costs that you'd encounter, calculate all the various financial ratios for a few different approaches, design a web site for you, etc.[/QUOTE]
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