Video Store Ideas Or The Lack Of Video Store Ideas

My family and I know that the video business isn't going to make it in the long or medium term. In the short-run, we have a locational monopoly. Right now, the business is a cash cow. Everything is paid for. The rent is cheap. We don't have to pay a lot in labor. Business is definitely slowing. And we have no delusions about our long-term future. But the question becomes what can we do right now to make a few more dollars?

We're thinking about adding a subscription plan. Obviously, we're late on this one. It would cost us a $1000-$2000 to upgrade our software and computer equipment, but it would require us to get credit card capabilities which should increase our revenues and help us eventually liquidate our inventory.

I've also thought about increasing our internet presence with a Twitter, Facebook, and Blog Accounts. All of these only cost time, but they could definitely help us market the business. (There is part of me who thinks this is part of the future for local business. A local business creates a "following". When people check their Facebook Account, they see what DVDs are being released Tuesday. They can debate other "friends" and customers about what movies are good. The local storefront and the fact that customers see and know other customers add a little humanity that "big" business cannot. I also like the idea of "Twitter Specials" like all followers get a free bag of microwave popcorn. From a marketing perspective, this kind of advertising is so much accountable than advertising in the high school yearbook or local newspaper. I can easily count how many followers took advantage of the Twitter Special.) This internet presence should also help us eventually liquidate our inventory.

With all of this being said, I know it is only a matter of time before the video store goes the way of the record store, but I want to squeeze every last dollar out of it that I can.