Stop! Don’t shut it down yet.
Video rental stores were once big business. It began in the 1970s and proliferated around the world. Video rental shops made it possible for many people to get a constant source of new movies to watch. For many people it was their livelihood; the family business. Some inherited it and never ever thought that they would one day think of shutting it down. In those days there was nothing like the internet. The only way to watch a movie was to go to the cinema, buy it or rent it.
Have people stopped watching movies? No. If you visit the internet movie database (imdb) you would see a list of the most rented movies. There is a report in Boachsoft Smartmanager 2013 video rental software which would send you straight to that page. So what is happening? In the the late 1990s internet access became ubiquitous and people dreamt of watching movies just by ordering it online. Those were the days of slow internet. Today however the internet is much much faster with average internet speeds in many countries exceeding 30 megabits per second. This means that it would take approximately 1 second to download a 4 megabyte file.
Many companies like netflix have taken advantage of this and are offering online movie streaming or rental services. Other companies invented automatic dvd dispensing machines which allowed people to rent out movies at vantage points. These services caught on. Companies offering these services have taken over the movie rental market and are driving out video rental stores. Blockbuster in America has closed down over 500 of its rental outlets. However some video rental shops are still surviving. As the founder and sole proprietor of Boachsoft I have seen sales of my product, Boachsoft Smartmanager 2013 video rental and point of sales software, plummet. A reflection of the changing trends. However I want to assure all existing rental stores that I would continue to make the product available.
However, what does the future hold? If your are losing almost all your customers don’t lose hope. There are many ways to revive your rental store. I would share a few with you. The big companies like netflix are not interested in some niche markets. This is the key. Look for movie categories that they aren’t interested in. I am sure I have raised your hopes a bit. Foreign language movies is one of them. Another is ethnic movies– that is movies that cater to specific groups such as Ghanaian Akyem twi movies, Chinese Movies, Russian Movies, Greek movies, Bollywood movies, Southern African movies, Philipino movies, Political event archives. You could do the same for games and books. Turn your rental store into a niche market rental store. To be effective and successful you would need a good video rental software with point of sale features. Boachsoft Smartmanager 2013 is the right software for you. Purchase it fromvideo rental software, point of sale software
Another way to get new ideas for your rental store is traveling around. Travel to another city. You may get an idea or two which would help you get back into business.