Game store is a business that specializes with entertainment products to a targeted market segment. The market segments of such a business include video games, living room games, as well as role-playing games. For such businesses to prosper and attract more customers, quality management is required. It is one of those businesses, which can assist one in achieving his or her entrepreneurial dreams(Steingold 119).
For an individual to start up a game store, there are some essential materials that are required. The owner must first register the business at the local level. Once registration is complete, it is advisable for the owner to come up with a business plan, a guide for finance allocation(Steingold 107).
Marketing and financial plans are the most vital component in a business plan. Another important input in the business is the establishment of the rules and regulations to be used in the store. ‘Dos’ and ‘don’ts’ would assist the smooth learning of the business.
At the beginning, the owner is advised to start with a big stock. In addition, being new in the market, one may not be aware of what the customers need. It is advisable, to provide them with a variety of items at the beginning(Steingold 301). From there, it would be possible to determine what they deserve. This would lead to owner getting an idea of the best selling games, and be focused.
Enough human and capital labor would be necessary in the business. After the establishment of the business, and the store equipped with the stock, the owner should define any assistance that is required in the store.
Some of the most valuable products required in such a business are all popular video games, PCs, card games, board games, and probably TV games. Incase the business is big enough to accommodate family games store; it would be advisable for the owner to stock trivia games(Steingold 115).
Defining the target market, and establishing the best way to reach them is the most significant factor for the owner. As part of the requirements, the owner should look for an assistant in selling. The assistant should be someone who plays the game, and has some interests in that industry.
The best location for a game store is a storefront in a high-traffic area. Such a location is most appropriate, as all gamers within the locality are familiar with such places. They meet in such places for leisure with their colleagues. The owner should ensure the storefront and signage are clearly visible from far, to make the place most suitable(Steingold 98).
The storefront should also act as an advert for promotions and sales. The structure of the business should be established to accommodate the relevant people. There should be enough room for the employees, as well as for the products to be sold. An allowance for customers should be established, to ensure they are comfortable when waiting to be served.
It is necessary for a business to have a set target. The targets assist in the development of the business. The owner should have a daily target, weekly target, and monthly target.
When a certain target is achieved, it is the duty of the owner to increase that target. Incase the business did not achieve the set target; it would be appropriate for the owner to establish the reasons behind the failure(Steingold 122). Every employee should understand his or her job description, to make sure everyone knows what he or she is expected to do.
Work Cited
Steingold, Fred. Legal Guide for starting & Running a small business. New York: Nolo, 2011.