Since there have been a few "getting started in the business" questions, I guess it's time to add a section just for that. In the DVDKiosk business, there are several things that we all want to know before we get into this business. One thing that is going to be impossible to answer is "How much money do you make in this business". Please remember, that I can tell you that I personally make more money than I put into the machines and overall costs. It varies from month to month though. I can't just give you a figure. Remember, takes effort on your end to determine how much you are going to make. There's nobody out there that can give you an exact dollar amount. Also, remember, DVDNow can't give you a dollar amount either. It's actually not legal for them to give you that information. I wouldn't want someone digging into my kiosks giving out information to others either. With that being said, here is the latest e-mail.
Sincerely,
Mike Weiland
http://readydvd.com
Showing posts with label Getting Started in the Business Questions. Show all posts
Showing posts with label Getting Started in the Business Questions. Show all posts
Wednesday, October 22, 2008
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Hi Mike, Michelle and to all those of the "brotherhood" of the DVD rental business - my name is Laurie. I am located in a small town on the outskirts of Boise, Idaho. (population - approx 15k) Have been doing extensive research, crunching numbers, and spending endless hours during the middle of the night contemplating if the DVD Kiosk rental business is a good fit for me without totally exhausting my children's college fund :) I am close to taking that big "leap" but have a few questions if anyone could help give me a better insight -
1) Return on Investment - could anyone give me an approximation of how long it took before they actually started seeing a profit?
1 yr - 18 months - 2 yrs ?
2)On an "average" -how many movies are rented out a night? (30? 40? 50) as I have no clue what to expect - we have only one grocer in town (Pauls IGA) and one video store (Movie Gallery) --currently no competition with another DVD Kiosk Business model - Pauls probably sees a minimum of 300 customers a day.
3)Are there possibly any hidden fees that I have not accounted for? (accounted for Distributor Cost, cases, tags, liablity insurance, Merchant Account fee, Web service fee, and 10% percent of walk up revenue to grocer. (what about State Business Licensing) - any State or Federal registrations required -any annual fees anyone can think of?
Thank you so much for your time in helping answer a few of the many, many questions that I think of throughout the day. Look forward to future blogging with everyone on site.
Laurie B
October 21, 2008 11:29 PM