Retail and dealing with the public is a hard business. As per what was mentioned above it requires a ton of planning and a lot of money. There is a lot of risk too. I look a all business adventures in terms of what is my annual rate of return going to be and what risks do I encounter in trying to achieve that return. Then, (this is important), how does this rate of return and risk compare to other things that I can do with my money. There are always alternatives. Maybe you can make a better return with similar or less risk doing something else with your money and your time than opening a hifi shop. Plus here is a great quote from one of my former business managers: “Business would be great, if it weren’t for the people”. Please be careful.
