4 Tips For Running a Successful Sports Memorabilia Shop

Running a retail sports memorabilia shop is a lifelong dream for some. There's nothing quite like the feeling of turning a hobby into a lucrative business venture, which is why so many people are drawn to the industry. However, turning a profit from sports memorabilia trade isn't always an easy task. The baseball card market took a huge hit just over a decade ago, forcing many shops to liquid their assets before closing. The good news is that sports memorabilia is still a hot venture, but it does require a different approach to become successful.

Tip #1 - Go For The Autographs

One surefire way to get a return on your investment is to purchase autographed trading cards and game-used memorabilia. While the value of non-autographed trading cards will drastically fluctuate throughout the years, autographs typically become more valuable over time. There's a unique element of autographed sports memorabilia that's not found elsewhere. Knowing that you own a trading card of item that was personally autographed by the player creates a sense of pride and accomplishment in the collector.

It's important to note that certified autographs hold more value than non-certified autographs. Basically, this means the card or memorabilia was certified by a third-party to ensure its authenticity. It's not something shop owners like to think about, but fake autographs do occur.  Opting for certified memorabilia will help to protect your business investments.

Tip #2 - Check Prices

There's nothing wrong with purchasing sports memorabilia form collectors who enter your shop, but you should always check to the value of the item before conducting a transaction. Prices of sports memorabilia tend to fluctuate, and a card that was worth $100 a year ago might only be worth $50 now. Taking a couple minutes to check its value could potentially save you a large chunk of money.

There are several different ways to check the prices of sports memorabilia, one of which is Beckett.com. Beckett has been in the business of valuating sports cards and memorabilia for decades, so it's safe to say they know a thing or two about the industry. Another option is to check the going price on eBay. Thousands of dealers and collectors use this site on a daily basis for sports memorabilia transactions.

Tip #3 - Focus on Local Teams

A third tip that's sure to help your sports memorabilia shop is to focus on the local teams. Customers are naturally drawn to memorabilia from local teams. You can use this to your advantage by displaying a greater amount of memorabilia from them. For instance, if your shop is set up in the Atlanta, GA area, then perhaps you can display Atlanta Falcons and Atlanta Braves memorabilia.