Hi everyone.. Boards.ie 100% great for information and research! Anyway Im hoping some of you can help me. I am a young lady! Age 24 and I have a little business experience, Iv managed 2 communication stores and am sitting my finals in an Hons Degree in Law in 2 weeks...So I have some general business knowledge.
I have aways had a business mind.. Im always looking into opportunities and ideas. My ambition is to open my own business once I have completed my exams. I have done a little market research into industries which have been successful in the current economic climate, and a see an opening in the market for a home move rental store in my local area. I am only in the infant stage of my Idea, In terms of making a business plan, seeking investment. I have a few questions in which I could use your help
1: What is the authority that issues the dvd/game home rental licence?
2: Doe anyone have experience in obtaining such a licence?
I have plenty of other information I will wish to gather and many hours of research ahead of me, but these are only the 1st couple of questions I have trouble finding information in this area.
thanks a million
any feed back what so ever would be great. PLEASE!
DVD rental is a dead/dying industry, at least for stand alone stores, look at Chartbusters.
Petrol Stations / Convience Stores and the like might get away with it for a while since it is only some jam on the takings.
To answer your question I have no personal experience of DVD rental but as far as I know you don't have to get a license as such. You do however need to buy dvd's that are licensed for rental which cost more than standard DVD's.
If I remember correctly there are a couple of wholesale companies that deal with providing stock to rental stores but you'd need to go searching for them.
I've thought for a while that a brick and mortar store that runs itself on an unlimited rental monthly membership basis like screenclick etc. could do well.. you don't pay for rental, you pay a monthly fee and can come and rent movies for as long as you want whenever you want as long as you keep paying the monthly fee.
I wouldn't waste too much of my time on dvd, downloading movies is the future (present) the number of BB connnections is rising rapily along with the number of hi-def tvs, the next natural sted is to combine the two.
I think with sky+ and sky box office people are avoiding renting more and more. Even though it isn't a lot of hassle to go down to the local xtra vision, it is still a lot easier to sit on your couch and flick through the telly.
Exactly. More broadband = more downloading. Simple as that.
DVD rental is a dyin trade.
Can't remember the last time I rented a movie.
i've noticed over the last few years that i've rented less and less dvd's from dvd/video stores. and i realised lately why. there's just no choice in the stores any more. lots of choice in the cinima, big big movies, movies that i'd like to see on dvd. but when i go to xtravision or chartbusters i cant find any. only lots of b movies. i think if you have a big choice of dvd's it could work? oh and dont forget the games! but as the other posters said, you can download anything from the net. the thing is, my family wont sit around a 14inch monitor for 2 hours looking at a grainy picture, when we have a 50 inch full hd plasma and a blu-ray player in the sitting room. now i know you can connect your pc to your tv and all that but how many people have the time to do that. and will the signal be full hd, like a blu-ray? i believe that sky hd isnt even full hd yet. people want the cinima experience at home and i dont think you can get that looking at films downloaded off the net on a monitor in you bedroom or kitchen or a corner of any other room. i say give the girl a chance you never know. and if it fails sure she can go back to being a lawyer and make lots of money. good luck. ... but i also get were the other posters are coming from.
Very sorry for asking!
Hons Degree in Law in 2 weeks...and having some general business knowledge and you have aways had a business mind..
Where is the connection to DVD Rental Licence ?
I worked for Blockbuster in the uk (who now own xtravision) for 2 years so have a fair bit of knowledge.
On the questions you already asked, i'm not sure how it works in Ireland but i imagine your local council will help with any license you need.
The Dvd's we usually got direct from the studios. 20th Century, Universal, etc. The rental copies usually cost around €50 each so you need to rent them 10 times each before making a profit and people generally only want them the first few weeks.
There is a lot more money in blu ray rental as there are people who have a movie on dvd but dont want to buy it on blu-ray too, they'd rather see the differences by renting.
Boxsets are also a great renter. The amount of people who get into a Lost or 24 now and have to backtrack is incredible.
Games, similarly are a great renter. Most of the gamers can complete a game within a week. Getting and keeping your gamers is absolutely key.
You should also consider getting into trade. Customer brings in dvd's/games and they get cash or credit in return. Especially good for gamers as most wont play a game after completing it. In the UK you pay no VAT for trade products so this is pure profit. You are also able to put traded copies to rent (even the 'not for rental' ones).
Not sure how all that works with Irish law. We needed a trade license separately as well.
Good confectionary range would be key too. Huge margins on it and, believe it or not, blockbuster was the best seller of Haagen Dazs above even Tesco and Asda.
If you've any questions,feel free to reply here or preferably pm as i'm terrible fo rnot clickin on a link when i get those boards emails and missing loads
I think you do need a licence, you can see them on the wall behind the counter for most places, unless that's the one for selling DVD's.
One of my real good mates owns a dvd store up beside foxrock and he's doing well - he bought over an existing business so it had clients all signed up already.
It's like any other video shop - slow during the week, great on rainy days and weekends etc - biggest hits (bad times) occur when Golf is on tv, rugby tournaments or soccer tournaments.
I think he gets away with it because the existing clients know him, really like him, pop in for a chat, good knowledge with films and he has a real old school personal relationship with them etc
I don't think a new business based around that model would work nowadays due to Cable and Digital though because there is nothing different about a dvd shop and when was the last time you saw a new Xtra Vision open up? It may be a service that is needed in your area - Jesus some parts of Ireland are so behind but make it something special and different and try and benefit from the use of technology (internet)
If there was a new video shop with really cool features that embraced technology and was cheaper than Sky etc, I'd check it out.
Oh thats the business im trying to get involved in.. N I have covered Business/ Company/ Contract and Commercial law over the past 4 years also have managed 2 communication stores. If that explains things better... sorry my trail of thought got a bit confused
I'm curious as to what market research, given the implosion of chartbusters, lead you to conclude that movie rental would be a good move?
Much as i hate negativity, I'd have a long think about this industry before i put in any more time or money - as others have pointed out, things like the upc/sky offers, broadband etc, mean that there are much handier ways of seeing films.
One figure that you may have picked up on is that in recessionary times, cinema numbers usually go up - but this is because it is a cheaper alternative than other forms of 'traditional' nights out - i wouldn't jump from that to thinking that people will also go to a dvd store more.
Given the question in your poll, you might profitably follow the logic from your thesis - that people may go out less given the current financial climate - and consider what novel forms of entertainment people might be willing to pay for in their own home.
Also, leaving aside your academic qualifications, can you see any opportunities in the communiciations field (i assume mobile phones?), seeing as you have managed two of those kind of shops.