Hi-End Business

Dear Paint,

Howdy, this is Joe Abrams in Ashland. I've been in the high end industry for over 20 years. We may have something to talk about. I'm in the Ashland phone book. Please give me a call anytime Monday or after.

ATB,
Joe

paint: i'll be happy to talk with you off-thread, too. just remember the ancient chinese curse, tho: "may you live in interesting times." ask particularly why someone wants to sell you his business. ain't cuz he's tired of being a millionaire or is ready to retire, irrespective of his claims.. -kelly

Go to stereophile.com and then to the Archives section. There's an article written in 1995 (I believe) that addresses exactly what you are looking to do. It's rather negative to the idea but if you're going to do this, you'll need to have your eyes open. And keep in mind what sdcampbell said.....have at least 6-12 months living expenses in reserve.

I'm involved in business development and it's important to be sure you know all the hidden expenses and what kind of cash flow you anticipate. You should also have an idea of when you walk away....both from the deal and the business.

Hi Paint; I live in southern Oregon too-- on the coast. I'd say there are easily a dozen gun stores in Coos county but exactly zero high-end audio stores, including HT. Population of the county is about 50K. I've been into high end audio for 10 years or so and only know two audiophiles in my vicinity, and we're all strange;>)

Early on I did most of my business with Bradford's HiFi in Eugene, later some mail order, and then also via internet. I've maintained a good relationship with Bradfords. I too hate to sound negative about your business prospects, but the general population in this neck of the woods just isn't much interested in high end audio IMO.

I'd certainly want to talk to Joe in Ashland though. At least the Medford-Ashland area has a somewhat greater population, and a State University, which could help, but how much money do students have? Maybe the professors? Guys in this area are hunters and fishermen, and that's pretty much the end of the story. I think you'd have to reach out to a greater population via the i-net to have a chance at success. But I surely do wish you Good Luck. Craig

Hi Paint, I wanted to post again because everyone, including me, appears to be so negative about your idea. As a disclaimer, let me state that I don't know the first thing about the demographics or competition you'd face in southern Oregon (though some others seem concerned about this). If this is not a significant issue I do believe you can make a go of it.

As has been mentioned, HT will play a major role in your overall volume and profit particularly from full installations. I wouldn't consider an audio only store. Keep your inventory low. Keep your number of employees low. Keep your rent low....though you'll need to be in as high a traffic (population) area as possible and you'll pay for that. Market, market, market. If you're going to go for it, give yourself the best chance to succeed and that means regular advertising, promotions, etc. In other words, take reasonable risks....don't try to stretch the money you have too far. If it fails, at least know you gave it your best shot. Good Luck, Dave