Well, I have some questions and just want opinions on how terrible of an idea this might be. My friend owns a gamestore (RPGs, Tabletop, Magic the Gathering) in a small city (20,000) but in a decent sized area 74,000 people. The store has been profitable every year since he has opened with with his take home pay being $17,400. He is moving out of the area now to go with his significant other to a different state and has offered to let me purchase the store for the cost of his inventory. Now I have looked at the figures and they all add up but I also know just how difficult running a game store is supposed to be and how likely they are to fail.
But I believe the business has room to expand, he has done no advertising so all of his sales are coming directly from word of mouth. Furthermore his hours have been less then ideal (Wed-friday 6:30-10pm and Saturday 3-10pm). I would be leaving a part time job making $12,000 a year to take this over. As it is a quick thing I would not have much in the way of cash reserves but I would also not need to invest in inventory.
So I have a few questions regarding this that I just want to get some opinions on
1. Is this the worst idea ever likely to leave me homeless in a gutter?
2. For those who have run game stores what type of increase has advertising brought in?
3. What does everyone hate to see in a gamestore? I want to avoid the usual pitfalls.
I have been doing some reading on these things and soliciting opinions from my friends, but I figure if I am going to make a large decision I would need input from people I wouldn't think to ask leading me to post this.