Is Geoff Wilson Lying about Cards HQ?

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Is Geoff Wilson Lying about Cards HQ?

Рет қаралды 7,195

Ай бұрын

Geoff Wilson recently talked on his podcast about the first four months of sales revenues for Cards HQ, and the numbers are staggering!
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Пікірлер: 87

@TheSportsCardDad Ай бұрын

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@evanfraser64 Ай бұрын

Clickbait.

@bennybreaks702 Ай бұрын

Its 4 million in sales. Probably spent 3 million on the cards (if not more). Once you factor in operating costs, probably barely above even.

@RobertLee-wi5kc Ай бұрын

He buys stuff at 60% 70% in trade but good stuff has lower markup. Boxes are included and he is about 30% there. so 4 million sales I would guess he made 1.5 million. I am not sure how you lose money on breaks. You have a cost you sell the teams and make about 20% before you open the first pack. Have you ever seen a breaker lose money?? As far as having to buy more inventory sure just go to a show lay cash in the showcase and if you are paying what other dealers are paying you will get all you want. If he is lying and not making money he will close in a couple of years like most new retail ventures.

@mnplumberman Ай бұрын

Why the need to tell us in the first place is the question.

@u_s_a_cards Ай бұрын

Is Sports Card Dad writing click bait titles?

@popsmoke99 Ай бұрын

most youtuber's do to support themselves....

@patrickmccracken8652 Ай бұрын

Dude the economy and card market is shot. There is small pockets to make money in sports cards. Just collect what you like and sit on it

@christopherlangston8173 Ай бұрын

I went by Cards HQ on a Saturday. It was fairly busy. It's actually a pretty cool spot.

@MikesRetroTradingCards Ай бұрын

Cards HQ is a privately owned company right? So he COULD tell us anything he wanted and we would have no way of knowing if it's legit or not

@TheSportsCardDad Ай бұрын

Certainly could I suppose Mike 👍

@getgooddad Ай бұрын

The IRS will know 😂

@user-vi5vd3ty9d Ай бұрын

@@getgooddadthey funded it via ppp

@Philly_Joe Ай бұрын

I hope the best for Jeff & Cards & HQ. Elevates the hobby. One thing I know is - selling single cards is a lot of work. Thanks!

@stueystuey1962 Ай бұрын

As hobbyists, don't we want him to succeed?

@celebratedfamilycards1802 Ай бұрын

Yes, we do. I never understood the people who want them to fail.

@johnwayne9828 Ай бұрын

No. Why would I pull for a conman?

@TheBargainBoxer Ай бұрын

No, we don’t. We don’t want snake oil salesman to succeed in this hobby that we love with their bull$hit……

@TheBargainBoxer Ай бұрын

@TimDavis-td2go It’s not, nor has it ever been, his store. It’s Fanatics store…..

@forpetesake20 Ай бұрын

as sellers of cards i would agree but thats not the hobby. collecting is the hobby. people like geoff have many many people confused. selling can support your collection but its not the hobby

@gametimegallery7661 Ай бұрын

$4M in revenue is irrelevant unless you also factor in capital and operational costs. I hope they are indeed profitable and Geoff succeeds, as the hobby needs an injection of new ideas and folks who have the courage to take a chance.

@user-vi5vd3ty9d Ай бұрын

What new ideas? He opened another brick and mortar

@RobertLee-wi5kc Ай бұрын

@@user-vi5vd3ty9d No negotiation the price is the price. That and overpriced wax. Great looking spacious store.

@80sStarBasketball Ай бұрын

I hope he does well on Cards HQ - I don't understand why so many people want him to fail. Yes - Pokemon is insanely popular and I don't understand it but my kids sure did.

@aaronrasmus3160 Ай бұрын

Don’t give Geoff any ideas 💡

@jimbobrobertson3285 Ай бұрын

Geoff only said $4 million “Revenue”. That’s just sales. No need to talk about expenses and operating profit.

@grindstone11 Ай бұрын

He did. He said they were profitable. Did not say by how much, but that is literally saying including all expenses, the store is profitable. The only items he excluded was depreciating assets (building costs essentially)

@RedStorm1383 Ай бұрын

Breaking it down that’s $33,333 a day. Doesn’t seem too crazy but again this could be the initial hype of the store just being open. Would like to see the numbers once the hype wanes away.

@bobbymo3591 Ай бұрын

That's peanuts to some breaking operations. He has multiple live streams going at once from the shop. I know he said it's mostly from the shop, but who knows. Either way, that's not a lot of money in the sports cards industry.

@joeday17821 Ай бұрын

Ally formerly of Titan Cards...she practically created their youtube content and made it really popular (over 40K subs). Their videos have gone from thousands of views to hundreds since she left.

@RobertLee-wi5kc Ай бұрын

I don't get it, just watched one of her streams. Not a lot of personality and doesn't even handle the cards with gloves on.

@1skiless Ай бұрын

money goes out so fast? It's crazy. I've got 15 employees for my business. I'm spending 15 to 20 thousand every 2 weeks on payroll.

@getgooddad Ай бұрын

I hope he paid his taxes 😂

@aaronvanlandschoot2145 Ай бұрын

Wealthy, white guys paying taxes on their business????!!!! Hahahahahahahahahahahahaha!

@colinburroughs9871 Ай бұрын

this guy rubs me the wrong way on multiple fronts...

@TytheSportsCardGuy Ай бұрын

I'm wishing Geoff much success. If I were him I would probably cut out the breaking part of the business for right now and focus way more on the buying and selling.

@jchristner82 Ай бұрын

cards HQ helps generate traffic to his online content, it allows him to create better content and clicks

@BobBoozle Ай бұрын

I'd be real curious to hear how the revenue breaks down as far as new releases from Fanatics/Panini/Pokemon, second-hand boxes, singles, sponsorships, live events and KZfaq revenue.

@will-grier-investor Ай бұрын

He must be counting all the Will Grier cards i bought in 2019!

@RobertLee-wi5kc Ай бұрын

Still playing for the eagles:) Hope you bought him when he was cheap.

@Wootensportscards Ай бұрын

Great take

@cardboardcheddah3715 Ай бұрын

Did cardsHQ hire Ally?

@TheSportsCardDad Ай бұрын

Yes Ally! Was trying to remember her name

@Mskedu47 Ай бұрын

Dude should be locked up

@RobertLee-wi5kc Ай бұрын

For suggesting who to buy? Guys do that very week on tv as they suggest bets, prop bets. Your money spend it as you like. Not like you pay for free advice.

@CaptainKett17 Ай бұрын

As a CFO and card enthusiast this topic is fascinating. I have to believe they have very little cash and and high borrowings. I believe they are profitable on paper but in a material cash deficit position as is common😢 during most start ups. So much inventory funding is a cash drain. Hopefully he has some good working capital available. Also would be interested in their treatment of inventory. Cash or accrual. Total nerd alert for me. Love the topic SCD!!

@goaliecoach00 Ай бұрын

Comparing cards HQ to Burbank is insane. The bullet holes in Burbanks showcases daily at store and the amount of buying every day shows that they are getting paid in every way while Cards HQ have to go find stuff to buy and the foot traffic is not comparison . I don't see how you could mention these two stores in the same sentence let alone the same paragraph.

@TheSportsCardDad Ай бұрын

Well simply put. These 2 stores are among the largest in the country. Obviously, Burbank has been in business 40+ years, so they are going to have a much deeper inventory. But that’s just common sense.

@SportCardMadness Ай бұрын

Revenue is certainly different than profit or EBITDA. I'm sure there are massive initial capex costs that he has to amortize over a long period as well. Will be interesting to see if he breaks it down further as the shop progresses.

@marcovaldovinos4754 Ай бұрын

It’s great news for the hobby.

@delgado6042 Ай бұрын

That make sense is still a hustle trying to buy cards to keep relevant

@stuke1976 Ай бұрын

Talking with CardHQ folks at Dallas, I believe they are doing $4 Million in the first 4 months. They bought a lot of cards in Dallas, from what I could see. Pokemon is the same characters, but they change the artwork/format on each release, where Magic has the same cards with similar look on their new releases, from what I've been told

@Simonlegend35 Ай бұрын

Yes!!!!!! I dont understand the "hate" he receives all the time! It

@leehaskins307 Ай бұрын

I dont know how u can get millions a year in inventory to sell at a local shop is possible at the 100 to 500 dollar card… where do u find that… u cant get that from dealers at shows they dont sell at a discount

@RobertLee-wi5kc Ай бұрын

They do if the want to turn it and can't retail it.

@pancake_analytics Ай бұрын

There's for sure some confirmation bias going on here. He's a private company and doesn't have to fully disclose the financials so you have to take his KZfaq videos at face value. He might be giving undue weight to evidence that supports the importance of the brick and mortar location. Potentially overlooking data that suggests online or other sales channels are equally or more effective.

@joeday17821 Ай бұрын

Geoff won't want to do any major push on Pokemon since he thinks it will soon crumble by the weight of Lorcana popularity!

@TheSportsCardDad Ай бұрын

Lorcana for life!!! lol

@slugger82685 Ай бұрын

for the revenue figures was that just purely on sales? does that factor in any kind of sponsorship or youtube money?

@TheSportsCardDad Ай бұрын

Not sure on that part

@NYC-SA-Mike Ай бұрын

Hiya Dustin. Been out of the net for a minute - how ya doing? I think if he's doing a million per mo to start? That's pretty darn good. I'm pretty sure some employees can attest to his monthly gross. My LCS - tops in SA - did around 3 million last year. What's the profit margin on Topps cases e.g. Not as high as one might think? Expenses may be more than many think? In Texas there's tax on inventory along with a franchise corporate tax. Rent is at least 28K/mo and maybe he got a break for the first 3 to 6 months? Hidden expenses abound in a business; the gas/electric could easily be 28K/mo. What about insurance and security. My LCS costs Charlie 20+K per year on 2500 sq. ft.! What about salaries + FICO and book keeper and CPA costs. And one that's a real challenge: Shrinkage - employee theft. It's a big store - I can see some unscrupulous employee tell a customer - today - buy one/get one free and slip a 20 in my left hand? His operation is a monster and organization with daily "controls" is tantamount to being a success. He started real big. I gotta give him credit for the guts it takes to extend himself like that. This is too long - time to say thanx; enjoyed the presentation as usually buddy. 👍

@TheSportsCardDad Ай бұрын

Doing well Mike! I think you nailed it, expenses of all types are killing real gains. Seems like everything across the board is a lot more expensive

@Melissa-w5m Ай бұрын

Hysterical my husband remembers watching them sell sets those sets of cards on the shopping network.

@TheSportsCardDad Ай бұрын

@centerhillcards Ай бұрын

Her name is Allylotl and she has 11k subs and she used to work at Titan cards in Pinellas Park, Florida

@TheSportsCardDad Ай бұрын

Thanks!

@leehaskins307 Ай бұрын

Pokemon popularity is real… I see it at my local shop.. they expanded there store to a pokemon section and its loaded with kids with there parents.. I’m a sports card collector but many years ago bought the top five 1999 first edition pokemon cards…. they are a great part of my collection...

@oarancards4443 Ай бұрын

Good for him hes a dad like you ,,im happy for him,,

@SS-pc6dg Ай бұрын

Only 30 seconds in, I like your paintings. Retail sales through the store would be many cash transactions and what is a business which has lots of cash flowing through it good for? So your intuition of where the sales would be, may be correct.

@TheSportsCardDad Ай бұрын

Thanks very much, my mother in law made the paintings for me

@SS-pc6dg Ай бұрын

@@TheSportsCardDad She must like you. Is she going to buy your son a new shirt too now that it is stretched out?

@TheSportsCardDad Ай бұрын

@@SS-pc6dgwhat’s not to like? :)

@SS-pc6dg Ай бұрын

@@TheSportsCardDad The fact that you $@#!^% her sweet precious little daughter for starters. :) I made myself laugh.