I just wanted to see some of your thoughts on starting a video rental store. I know most people think a regular video store may be a bad idea. But, I am thinking about being a little creative.
Also, remember that now Netflix, and Redbox must wait 28 days before renting new releases. So I would have new releases 28 days before Redbox or Netflix.
Also, let me give you a little background. I am in a small town, and the movie gallery closed down due to the whole company going under. Because, they had very high debt/income ratio, high overhead, and poor management.
So that leaves a void in my town. The way I am thinking about running my store would be to offer regular rentals, but also to offer a /month 1 at a time unlimited rentals package. However, there would be a 2 week restriction on new releases. That would allows my customers to still get movies 2 weeks before Redbox or Netflix. This would allow me to pay for the movies and turn a little profit in the first few weeks. If unlimited members wanted to rent a new release they would get a 50% discount off the regular price.
I also will have a very low overhead.
Just wanted to get some feedback on the idea, and see what you think.
I would also like some figures from different areas, and movie rental stores. So if anyone has worked at a movie store, and has some useful info, or figures like daily rentals, sales volumes, number of members, that would be great. Also, if you have that info, be sure to tell me how big your town is. Thank you.
Yes, I have researched and more restrictions are coming for those companies. I have spoken to multiple distributors.
The studios placed additional restrictions on Redbox, and Netflix because they were hurting sales and revenues. In exchange for discounts on dvds they must wait 28 days, after a dvds release date to rent the dvd to their customers. Brick and Mortar Video Rental Stores, and Retails like Walmart will sell/rent dvds 28 days before Redbox, and Netflix.