The TRUTH About Running a Card Shop (Lessons Learned)

Geoff talks to Carter and Ryan about the progress that CardsHQ has made, and talk about plans for expansion.
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Companies Geoff Founded:
Sports Card Investor: www.sportscard...
Market Movers: www.marketmove...
Three Five Two: www.threefivet...
NoviAMS: www.noviams.com
iLS Network: www.ilsnetwork...

[@itsgeoffwilson]

Sponsored by Arena Club - download the Arena Club App and use promo code SCI for 10% off your first purchase!

[@adamscardcloset9020]

I’ve been to your shop . Top notch place. Gave me fair comps on my cards and had great prices on 98% of their cards. Highly recommend everyone go

[@itsgeoffwilson]

Thanks!

[@MEGR7]

Been to Cards HQ. Honestly was a great experience. Very clean and organized. Good amount of variety in singles. Prices were fair on singles, lounge area was very nice, and bathroom was clean. Definitely recommended.

[@pauly5502]

I would imagine it’s a great shop..maybe best in class. It’s hard to keep a big operation cash flowing. Cards hq, new Burbank location, new Santiago sports location..margins are shrinking and these guys went the opposite way of logical business sense industry wide.only time will tell

[@itsgeoffwilson]

Thank you!

[@phillyfansufferer]

Love it!! Been collecting for 40 years and cleanliness of a card shops bathroom was always priority on my list!!

[@Andrew-hq2ku]

The best part was the bathroom.

[@JGSoCal-e2n]

Great job Cards HQ on working to do what you love and building something the community appreciates!

[@HardcoreCardCollecting]

I worked as a manager for 7 years before I started my own small business. IMO the most important thing when a business is growing or increasing sales is a couple things. One you already said, which is implementing SOPs and ensuring employees are held accountable to those SOPs. The 2nd is communication. Communication has to be clear from the top management down to the regular employees. From expectations to implementing rewards/ bonuses for achieving goals. To get everyone on board for the growth and extra demand for extra hard work. Most people don’t understand how hard it is to run a business. It’s not just a 9-5 job. It’s a 24/7 job that requires an extreme amount of dedication to achieve goals. Also weekly meetings is good imo to go over everything and to encourage employees to keep doing a good job and to go over areas that need improved. Never be so proud as a leader/ manager to get employees feedback on how the company can be better or what needs to change. It will also get them bought in on the change and growth needed. Much respect and thanks for sharing.

[@HardcoreCardCollecting]

Also once you start SOPs. Make sure you start a training system to PROPERLY train employees and new employees. Proper training to set employees up for SUCCESS is extremely important. I can’t tell you how many companies big and small DO NOT have proper training to set employees up for success. This ultimately will lead to setting employees up for failure and destroy the morale of the team. A lot of small businesses shoot from the hip with band aid fixes. When your small business you can do the band aid fixes. But as you grow and become a bigger business, the band aid fixes become an artery wound that will eventually become huge problems and the company won’t have time to put out the small fires that were originally band aid fixes. But this goes back to my original points of how and why SOPs and Communication being extremely key. Keep up the grind and hard work!

[@true_rcs]

This level of transparency leads to credibility. Appreciate and respect the work you all are putting in. 👍🏼

[@608Sportcards]

Got to see your shop a few weeks ago! Great place! You should open up a cards hq consignment stream.

[@rickinquest]

The one big thing about running a card shop in the 1990’s for 2 decades was when you display your cards for sale that you have multiples of, “Don’t Flex” by putting out duplicates in the showcase. I warned one of the owners a few years ago of a LCS named something like Coffee and Cards in Hollywood Listings Angeles about that potentially negative stigma that has buyers either now trying to negotiate or figuring to come back later to decide to buy or not. My dad said to "give the illusion of scarcity" and drive the impulse buy as “the last one for sale” as opposed to “one of many” available, so don't be so showy to put stacks of the same card on display. Also, if you’re worried about theft, use photocopies of key cards worth $1k+ in display cases and vault the originals to avoid smash and grab situations or strong armed theft.

[@itsgeoffwilson]

Good suggestions, thanks

[@tyreed487]

Great video, LOVE the transparency. Keep doing what you're doing Geoff, it's amazing for the hobby. Don't listen to the noise (not that you do).

[@itsgeoffwilson]

Thanks!

[@AtomicZombieAndroid]

I have a feeling Jeff's employees hear about that ice shop 2 to 3 times a day

[@itsgeoffwilson]

Haha. I may have mentioned it once or twice! :)

[@WilliamOrloff]

Interesting topic… thanks for being so open about the info 😊

[@brockman562]

I personally would wait after the 1 year mark to decide about web, an extra cabana, retail, and opening an extra shop. prioritize the most profitable of the 3 (cabana, web /online store, and retail).

[@cjthecpa20]

Great transparent content!

[@itsgeoffwilson]

Thank you

[@TamTranTriZzle]

Nice glimpse into how your store is doing, but Geoff! You gotta let your guys speak more lol. I was really curious to hear more from them and their own personal views/opinions and more specifically what their roles are in Cards HQ. I know they handle most of the Buying, but thats all I really know. Every question took you about 10 minutes to ask lol and their responses were like 1 minute! But sounds like things are rolling good so congrats!

[@stephenmcconnell4302]

I spend a lot of money with you guys especially if breaks and your breaks are my favorite your prices are better and it is always a good experience I would say customer service lacks at least for me I have sent emails without response but I understand how busy you are

[@angelou1]

Thanks for the behind the scenes look

[@Bigdogdealings]

Make something as close to perfect as you can. I’m sure the want/need to expand sounds great and is exciting but to try and replicate this x2 somewhere else would definitely create a strain. I think some things are worth franchising but something like what you guys are creating is a one of a kind . That’s part of the allure . Cool interview , would be interesting to hear in future sit downs the nitty gritty stuff , the stuff everyone wants to know. Just my 2 sense 🙏

[@tjmcleroy]

Got some really good deals for singles at the shop awesome store and cool experience

[@itsgeoffwilson]

Awesome!

[@3d473]

Thanks for sharing this! I found it super interesting and really well-produced. I’d love to see more behind-the-scenes content like this-it's always so cool to get a glimpse into the process!

[@rwthomas111]

For what it’s worth - I shop your online store for graded baseball cards every weekend during football commercials. If you prioritized adding more inventory I would be very happy!

[@itsgeoffwilson]

Yes we really want to get more on there... we will soon

[@rwthomas111]

@@itsgeoffwilson great! Thanks for responding!

[@MrDinocizmic]

It feels like Jeff is just a side character and merely a "guy on camera." He doesn’t seem involved in the day-to-day activities beyond taking credit for them on screen. These two look completely exhausted lol

[@johnwaynecollection]

Go start multiple businesses and then make that comment. You have 12 good hours in a day. You have to be the conductor of your portfolio. You dont try and play every instrument at once. This is exactly why they partnered. Each brings in value. But they seem a bit nerdy and might be struggling being a leader of a team of people. I was overwhelmed at 32 years old and having 36 employees in my 1st "real" business. Its easy to be good at managing yourself. Ill beat 80%+ of the population at many things..... It's another conversation to get someone else to have that "FIRE" in them. Many business owners are better practitioners then entrepreneurs or good managing others. But being thrown out there the first two years will change you forever Though. Like one of them mentioned in the video. You get less scared to move and you just trust your instincts.

[@MEGR7]

@@MrDinocizmic when I was there, they had prob a dozen ppl there. Some running the floor, some doing WhatNot streams, some doing the buying. Maybe they were staffed heavy for the trade night. Jeff did show up to do his live stream for that.

[@n-sane]

Crazy to see how many people clock in to defend a guy that doesn’t even know you exist… lol

[@denny_cards]

NO REGURTS, everything was meant to happen the way it did for a reason ✊

[@The047SportsTCGCards]

This video showcases how you ask questions and interview yourself and answer your own questions and how to ask questions you pose to your guests and answer them as well.

[@rage508cardsngrails]

Facts lmfaoooo 😢

[@AtomicZombieAndroid]

Its like an unending monologue, his employees are just the audience

[@harjimbaugh4234]

hey shut up man

[@kidsid1988]

I laughed so loud after he said 18 mil and that doesn't mean things are going perfectly

[@Gino483]

Geoff can have a run on sentence thats goes for 20 minutes

[@itsgeoffwilson]

Haha yes, apparently I had a lot to say!

[@ryanadonis]

Can you guys stream the big Monday meeting? Its good to hear all aspects of business

[@itsgeoffwilson]

That would be cool, I don't think we can do that but will definitely share what we decide!

[@scottbalcarcel3224]

Great, now tell us what its like owning a real card shop. You know, the 1500sqft, small mom & pop style shop. The kind where Fanatics and Panini won't sell to because they want shops to look like yours. Or the ones where the distributors won't give you allocations because they give all of their products to a single shop.

[@te2edgesportscards177]

Apply Pareto's 80/20 Rule/Law of the Vital Few: eliminate 80 percent of the business/cause that is generating 20 percent of the profit/effect and reinvest in expanding the 20 percent of the cause that is generating 80 percent of the effect.

[@FireMcgwire]

Hard pass on that arena club BS

[@tonyconte9345]

How many hours do you work each week? My guess is a ton. Hard to have a family working day and night.

[@itsgeoffwilson]

It has definitely been a lot of hard work -- especially Carter and Ryan, they really hustle.

[@SantiagosFakeBeard]

Just here for the comments. Lot of haters. Think it stems from little guys like us that have been in the hobby for 20+ years grinding it out. No large investment, just hustling one card at a time to build out our card shops.

[@rage508cardsngrails]

Regurts? Like how birds feed their young 🤔 😉😂🤣😆

[@douglasangstadt2896]

I applaud how sincerely you are selling yourself and your business. I think you meant, now we've learned about the card business, how much better can you fleece your customers? Buy a year ahead and take up money when the secondary market goes bonkers, inflate prices even more with breaking, chasing bullshit cards that aren't attainable to most, and will go down in price.....bahahahaha you and your videos man, you really seem like you believe you're helping people

[@Vccv-m8p]

Big credit to Geoff Wilson for actually putting himself out there and opening a card store and wanting to promote the hobby. It's easy to make fun of him but he is trying!

[@jbhatts610]

Let me help you all! Anyone who is thinking about opening up a card shop. DON’T!!!! You’ll be lucky for it to last a year

[@mrunlimited3]

Why?

[@simepoh]

Im more curious how business has been in the past month. Due to the state of the hobby. I predict the next year you will see month after month decline in card sales. Going to card shows and buying cards at 75 percent is a failing business model. Overhead and employees you need to buy at 40 to 50 percent. Been in business for 40 years. Owner of multiple businesses/inventions/restaurants. Now is not the time to open a card shop. We all know why the shelves are empty. It's because you save more money with them empty.

[@jbhatts610]

@@simepoh​​⁠couldn’t agree more- these vlogs show people paying 80-100% comps. Makes no sense! eBay after fees you’re usually around 85% and then you have the tax burden. By end of q1 next year, shops will begin to close again

[@KK-pm7ud]

Waiting for the "truth about bankruptcy" video dropping in a couple of years.

[@mangobango6970]

I don't see cards hq going bankrupt. I think it's more likely little hitler screws his two partners and runs them off. I'm giving his two partners a longevity of only 3 years before this happens.

[@kensummoner9771]

Haters😂

[@johnwaynecollection]

Aaaaaaand we are waiting for you to get the courage to have the balls to own a real profile in life. @ your IG. Show the world what you got cooking over there. lol You don't even have the ambition to own your identify in life. Saddest class of people on the planet. Night after night, nothing new cooking in life. Must hit hard inside every time people post actual progress in life. You are too afraid to even start. lol Wild to watch peasants stalk just to hate from their C- life. (yawn)

[@bChaps13235]

It’s amazing how many people get satisfaction from the failures of others. So sad. It won’t make your life any better if they fail. I wish everyone wins and succeeds. I can’t imagine being in a place where I wish for others misery

[@jeffreyvanoverloop1571]

Why root for the failure of a great card shop. If they fail that is a terrible sign for the rest of us who love cards.

[@maxwellethan_]

This dude gets so much hate I truly don’t get it.

[@collective_journey]

the videos have become so ego driven, tell stories. we could care less of your sales numbers

[@itsgeoffwilson]

I think it's important to share, not for ego, but so people can understand how we're actually doing and take the good and bad from it.

[@bryankahtava3773]

The biggest truth is Geoffy isn’t changing the industry and his card dump I mean shop will fail soon.