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Does this imply you have no faith in the hardware you advertise through your web presence?
As one who represents himself as a dealer, your questions frighten me. Nevertheless, if you'd like to spend some consulting dollars, I'd be happy to sell you my opinions.
It's called a "business plan" for a reason. |
>if you are asking these questions, then you would be better
>off going down to a casino and putting it all on black!
Be fair now! Even if you know what you are doing in audio retailing, you may still have better odds at makin' a buck by going down to a casino and putting it all on black! |
Seriously, Jim.........
As much stuff as you have sold here, I would like to think that you are knowledgeable enough not to even think of starting a retail store front.
All of my dealers went belly-up years ago. A few friends tried to hang onto their stores, but only after they went "HT". They eventually migrated into installation to prevent going belly-up.
Betting on black is around 50% chance of success. Opening a retail outlet is damn near 100% chance of going bust. |
My favorite retailer says they pay the bills with home theater systems. This allows them to still carry 2-channel gear, which is what they truly enjoy. I suspect, that as others have stated, that is what you'll be doing if you intend to stay in business. |
A lot of the long established "2 channel" outfits, are now more into high end home theater and custom installation. That seems to be where the money is retail.
They all still sell 2 channel, but it takes up less floor space than before and/or if there is lots of space, the 2 channel is in the back of the store. |
I'll have to agree with theo. This is a tough market to get into , espically with competeing with the internet as well. Circuit city stuff you mise will forget, your never gonna compete with them. Another factor is, where the heck are you?? what city, are you gonna draw enough people to warrant a retail shop. whose next to you? Plan to have alot of cash to back this up. If your just going in on a limited budget, foreget about it. Also will your products that you sell, allow you to sell on the internet? most will not. Good luck |
This has got to be a joke post.............if you are asking these questions, then you would be better off going down to a casino and putting it all on black! |
Value. If you sell that, everything else falls into place. |
Anything but Audio equipment. |
used(on consignment). and if you must carry new products, don't take on any vendor who won't give you extended(and i mean extended) terms......if you pay the manufacturers in 30 or 60 days, you'll be out of business in no time.......my advice would be to invest in something growing, not shrinking.....get a starbucks franchise |
I would only do this as a hobby, I don't think you can make a living with 2 channel. Curiously I get the sense that the market is becoming larger but at low price points. If you are going to take the plunge follow Theos advice and find a niche and also be prepared to be a specialist in HT. Whatever you do don't undercapitalize and be prepared to work really hard selling yourself. |
Here are some quick thoughts I had after opening my business:
Don't expect to get it right the first time. But keep trying and don't give in. Persistance pays.
This is a new experience with an expensive and steep learning curve to it.
Be flexible to market demands. What you want may not be what the customer wants. Be open. Listen.
Above all have fun and don't let the first 6-12 (maybe even 24) months discourage you. Stick with it. Nobody who's around today got here because they gave in when it was tough.
You are more than welcome to contact me privately and I will do my best to help you out in any way I can. I personally run my own audio business so I may have a few tips for you.
Here are a couple other folks who might be helpful to you as well:
Contact Scott at www.arisaudio.com as he will surely have good advice for you.
I would also consider calling Mike&Neli at www.audiofederation.com
They both have wonderful setups in homes with many great products.
Make sure you have given some thought to what you are going ask them, what you plan to do, and what steps you have taken in order to reach your goals.
Really prepare for a couple hours prior to calling them as their time is valuable and you'll want to be ready on your end.
Good luck - Have fun - and hopefully your business gets going for you without too much trouble!
Cheers! |
First thought in my mind is, why are you asking us? We don't know your market. What is your competition selling?
Sell something different to avoid price wars.
What price range will your client base be willing to pay?
Don't sell to high-end or they will pass you by.
What products are represented in your are by good distributers? See if they will do some consignment to get a feel for what people will bite into. What are you trying to attract most? Analog, HT, Stereo, mid range, high-end?
I wanted to do this a few years back and realized that the market was too competitive and the industry is too unstable. But best wishes |
I never really liked them, but a lot of people seem to think Bose speakers have good base. |
If you have to ask these questions, you are not even close to being educated or prepared for a venture into store front audio, sorry ... |
What is your target market?
Are you going to do both 2 channel and HT?
What brands are not sold in your area?
What brands have multiple retailers in your area?
Are you going to do installs and POS or just POS?
Is it going to be a Hi-Fi shop only?
Bass (not base) response is important to some and not to others. Depends on if someone is going to use a separate sub or not and what type of music they listen too. Also how big the room is. Among other things.
I think you should sell at price points that sound good. I would never sell something that sounds bad to make a buck. If you did, you will not be in business for too long. Sell people a good quality product with good service and you will get repeat customers.
No offense, but if you don't know the answers to your questions already you probably need to hire someone to run the shop for you that knows the answers.
Good luck. |
