Friday, April 15, 2005

Square Footage

Okay, not many concrete steps taken this week, but even a baby step forward is still a step forward.

Began pricing out some store fronts. The going rate for the type of locations I’m looking for seem to be in the $10.00 to $15.00 a square foot range. On the whole, that ain’t bad. Especially when you compare it to the square foot cost in Washington, DC where I just left. There it is easy to find $20.00 to $25.00 a square foot costs in the city and in the close in suburbs. And let’s not even talk about the high rent locales where the costs can get just down right scary.

So let’s do the math, shall we?

For a store front Christine — my beautiful and supportive wife — found about 6 blocks from my home and about 6 blocks from the campus of Virginia Commonwealth University, the rent is $12.50 per square foot. The store is 2400 square feet. This is a bit larger a space than I am looking for. My guess is that I would probably need about 1,500 square feet to give the store the openness I want while still remaining economically viable at the beginning. But let’s work with this store for purposes of our initial analysis.

$12.50 X 2,400 = $30,000 in rent per year/12 months = $2,500 per month in rent.

In order to pay my rent, I would need to sell at least 1,667 comic books a month. That’s a lot of comics.

Okay, let’s look at this a different way. Let’s say I find a store front that is 1,500 square feet and still charges $12.50 per square foot.

$12.50 X 1,500 = $18,750 per year/12 months = $1,562.50 per month in rent.

1,042 comic books.

(*Deep breath*) That’s a little better.

Did I mention that opening a comic book store was not a widely accepted path toward financial independence? And did I mention that there are a lot of things in life more important than money?

On another note, I’ve decided that I will be updating this site every Monday, Wednesday, and Friday unless events dictate that I update it more frequently. So check back on Monday to see what’s going on!


At 11:53 PM, Blogger Devon said...

I'll get you some numbers on how many comics we sell a week, Jack. BTW, don't forget utilities, cost of product, taxes...

At 9:47 AM, Blogger JackM said...

Oh, don't you worry. I've not forgot about those things, just in order to maintian my sanity, I'm just focusing on one expense at a time!

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