Motorcycle clothing

[H19841]

hi all. I've not been on for a while but I've been given the oppertunity to take on a unit at a really good price. But this now leads me to "what do I do with it!" I work full time and earn enough that I could rent the unit from disposable cash but the long term dream is to work for myself so I'd like to ideally start something small that I can build up in my spare time and maybe eventually do it full time when the numbers make sense.

I've had an online store before selling warhammer type models but there are so many others doing it at low margins it's near impossible to make any money - 10% margin would be a pipe dream! So I decided that the rewards didn't balance with the required effort.

The only idea I have is motorcycle clothing which whilst equally competitive to get the customers doesn't seem to attract the same level of discounting as such when you do get the customers you are at least making a profit

Anyway, just after some guidance or inspiration! I don't want to let the premises slip through my fingers and tempted to get it and hopefully the pressure will help lol. I hate thinking what if, and I think I have a shot here to use this to help the long term goals....just need a spark of an idea

 

[DavidWH]

Competitive yes, but not solely on price.

When I need a new lid brand and reputation is more important than price. Once I have decided which one I want it's then down to where cheaper (not cheapest) same with clothing.

It's a safety item (I only ride on track now so more important)

Can you obtain the stock and brands people will buy at a price to make the margins?

 

[H19841]

Exactly, that's the kind of competition I like and happily work round, build a good reputation and the customers will keep coming back. With the war games store, the reputation helped but price was everything so the margins were never going to work out - unless I pulled in a huge turnover, at which point the workload would've been just insanity.

I'm currently looking into the brands. I only really want to stock well known brands as that's what riders (including me) trust. I've sent some emails out so hopefully the margins will work out. I'm a bit blind without the margins. My hope is they allow me to run mainly online to start (but with the fixed premises that could be open on appointment basis maybe) and when things pick up I could then look for either staff or a Permanant change who knows. I just don't want to give up the security of full time employment on a startup venture, especially when I can easily fund that startup by staying in work which means it would have a greater long term chance of success...that's my thinking anyway

 

[antropy]

hi all. I've not been on for a while but I've been given the oppertunity to take on a unit at a really good price. But this now leads me to "what do I do with it!" I work full time and earn enough that I could rent the unit from disposable cash but the long term dream is to work for myself so I'd like to ideally start something small that I can build up in my spare time and maybe eventually do it full time when the numbers make sense.

You could buy it and rent it out first while you build up another business. It's unlikely that you'll need a warehouse for a couple of years anyway.

 

[H19841]

Hiya, unfortunately it's not for sale.

the need for warehouse space is more to cover clauses in supplier conditions - most still stipulate a business address (no you can't just call home the business address) so without the space the business can't even start.

I'm thinking of staying working full time and opening on an "appointment" basis. Ah I don't know, I earn good money and have security but money certainly hasn't bought happiness or a feeling of success, I want to be the master of my own fate but want to do it in as calculated a way as possible

 

[Chris Ashdown]

As with most items the larger the order the more discount you can get, for someone buying at trade price a few items you get maybe 20-30% discount as a general rule but once you start buying a couple of thousand pounds of stock a week you find the discounts are very much larger

Quite honestly i would think you would need to be full time in a retail unit to sell in any quantity as people want to try that sort of clothing on before they buy

There are always backstreet offices / stores you can hire at cheap money if you look at backstreets or old industrial area's

 

[H19841]

Hi Chris,

I'm in two minds about that - lots of the big names in the market are predominantly online rather than from strorefront. I think people are doing what I tend to do: look at the stuff in one shop, then order it online. But of course I don't represent the whole of the population.

I'm just a bit unsure of the turnover potential, and without that it's hard to predict a suitable viability - as with most business startups I'm sure

 

[Matt Thorpe]

Hi Hudson,

If you are going to take the jump (not sure if you have already) then I would suggest you treat the store as a selling experience rather than a shop.

Price is important but it's not the only thing. Take the likes of John Lewis, Harvey Nicholls and Liberty for example. I know they are huge retailers but people go there because they know they will get good service, speak with knowledgeable staff and possible pay a little more for products BUT they can return them if they need to.

When buying online, people look for price but a cheap price can be just as off-putting. You need to build confidence by offering a friendly and approachable service where people can visit, browse and not feel pressured. Don't think about selling all the time. Think about getting people to the store even when they don't want to buy and how you can keep them interested.

It's the same with websites. Most people are so focused on selling that they take their eye off their customer and building their own brand.

Good luck!

 

[Greensun]

You seem have the answers in your post. Online consumers are very price savvy and being the cheapest especially when it comes to either branded or non branded goods will place you in a better position though this is merely possible as a small business up against the big guys. I used to sell branded welly boots ie Hunter Boots and it was uber competitive.

 

[Chris Ashdown]

Another point with internet Sales is High value items attract the wrong type of customer (Thiefs) and also the ability to just cancel the order and make you pick up so you have two sets of insured postage costs on the whim of the customer

Good niche area but needs a lot of thought before selling online, also worth taking in exchange old first class leathers for new sales, and reselling the old ones. Throw in Helmets , Gloves and pannier and tank bags and you have a good range to suit all