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05/16/2010

Coins and Stamps

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  Coins and Stamps business.

  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 does not need a great amount of square footage, as the inventory is compact. As a method to reduce start-up 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.
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