Would you recommend setting up a shop?

[Wedding Heaven]

Hello,

we have our own online business selling car stereos and other car equipment and we was thinking about setting up our own shop which would be local to us. We would also be offering fitting.

And wondering what people would advise?

Thanks

Daniel

 

[Doodle-Noodle]

Think very carefully about the cost of setting up a B&M shop - there's a huge cost apart from just the rent and rates.

You'll be competing with the likes of Halfords where people can park easily for free and get their stuff fitted on site, you may have stock sitting around unsold for ages with money tied up in it, you'll have shop lifters who will nick stuff ....

Don't mean to be sounding negative, I have a shop and I love it, it's great, but it costs a fortune to run and the hidden/unexpected expenses that go along with it are much more than I anticipated when I put my "flawless" business plan together and thought I'd get rich!

If you do decide to go ahead, negotiate hard on the terms of any lease you might be interested in, offer much less than the landlord is asking, demand a rent free period, yearly break clauses so you can get out if it doesn't work out, and have a healthy contingency fund available ..... you will need it. Good luck!

 

[Pap_sak]

Might be worth it as you will be making money from the installing. If it was just on the sales side I would say tread very carefully. I am going the other way and closing my B&M shops and going online only.

BTW I am clearing a huge amount of inventory and investing in shares in property companies over here and in the UK. Finally can be the landlord and not the poor sap of a shopkeeper,

 

[RobertLamb61]

The current situation makes it a difficult choice, as you can get good deals on rents but of course retail is one of the hardest hit sectors in the UK right now.

 

[Billmccallum]

Hello,

we have our own online business selling car stereos and other car equipment and we was thinking about setting up our own shop which would be local to us. We would also be offering fitting.

And wondering what people would advise?

Thanks

Daniel

with such a narrow focus, would it not be best to partner with an existing business and hire some space in a garage, car sales unit, parts centre or some such....

 

[telbibo]

It is true mate, setting up a physical shop is hard these days as there is so many competition both offline and online. I have got a business that will definitely help independent or small chains of shops. This business allows us to sign shops and earn commissions on all sales online, offline, mobile platform? No selling/Buying - as it uses already existing shops in place. Everyone benefits as the small shops gets a massive online and mobile presence which (let's face it) is the current game of advertisement. Contact me if you want me to send you links of videos/pdfs for you to watch/read (short ones) and let me know what you think. Thanks. Launching in 11 countries in Europe including the UK. Now launching in the USA!!! Now is the time to get in!

Kind Regards,

Alex

 

[warnie]

It is true mate, setting up a physical shop is hard these days as there is so many competition both offline and online. I have got a business that will definitely help independent or small chains of shops. This business allows us to sign shops and earn commissions on all sales online, offline, mobile platform? No selling/Buying - as it uses already existing shops in place. Everyone benefits as the small shops gets a massive online and mobile presence which (let's face it) is the current game of advertisement. Contact me if you want me to send you links of videos/pdfs for you to watch/read (short ones) and let me know what you think. Thanks. Launching in 11 countries in Europe including the UK. Now launching in the USA!!! Now is the time to get in!

Kind Regards,

Alex

So in answer to the question without trying to flog her something, would you recommend setting up a shop?

Also if I was launching a service in 11 countries and not forgetting the USA, I doubt I'd have the time or indeed need, to bother spamming little threads on a business forum.

Maybe just me....

 

[David1962]

So in answer to the question without trying to flog her something, would you recommend setting up a shop?

Also if I was launching a service in 11 countries and not forgetting the USA, I doubt I'd have the time or indeed need, to bother spamming little threads on a business forum.

Maybe just me....

It's better than you think, it involves " No selling/Buying", sounds a bit like pyramid or ponzie. I'm in

Warnie - every tried pyramid selling sweets, all the way back to Hancocks

 

[Billmccallum]

please ignore

 

[David1962]

please ignore

Nope, we need to know what you were going to say

 

[Billmccallum]

Nope, we need to know what you were going to say

was inputting image of a pyramid of ferreo rocher chocolates, but didnt work, so much for my Friday night humour

 

[warnie]

was inputting image of a pyramid of ferreo rocher chocolates, but didnt work, so much for my Friday night humour

FAIL....

 

[babblemouth]

Rather than retail shop, perhaps think about small industrial unit with trade counter then you get cheaper rates & rent and a nice fitting area and you can sell from it, similar to a shop.

For car stereos, I cannot see any need to have a retail shop plus if you are fitting, where would you do this? Very few retail shops will come with a suitable area.

Just my 2p worth

 

[Mayor]

If you can make the numbers work, I think it is a great idea. As most cars come with stereos nowadays, I imagine a good proportion of trade would be upgrades, and I can see great potential for a gathering point for petrolheads showing off their ICE - as long as you have understanding neighbours...

 

[amac]

Try online first. With any sort of retail online, you get metrics - whether it be on a third party marketplace like Ebay or Amazon - or website analytics like Google Analytics. This is an easy way to see what works and doesn't with the advantage you don't need to sign a lease.

 

[Doodle-Noodle]

Try online first. With any sort of retail online, you get metrics - whether it be on a third party marketplace like Ebay or Amazon - or website analytics like Google Analytics. This is an easy way to see what works and doesn't with the advantage you don't need to sign a lease.

Read the first post .... they are online already, looking to move into B&M.