Starting a high-end audio shop... Am I crazy?


In my mid 40's reaching that mid-life crisis, which is not a myth. Many of my friends are leaving good jobs to start all kinds of wacky businesses. I am actually thinking of giving up a $120,000 yr job and starting a high-end audio retail biz - both online and hopefully later on a brick & mortar store. Have 20 years experience in sales and marketing, and/or design of software, electronics, multimedia, video and financial products including a few years in music retail and production.

Who can share their experience, or advice? Is the markup, distribution, etc of high end electronics similar to that of regular electronics? Any sources of info or pointers, tips, horror stories etc are appreciated.
gdoodle

Showing 1 response by tcowden

Just a couple comments on starting up online.

Be aware that many (most) manufacturers have very strong no-internet sales policies. It defeats their dealership licensing agreements. That may restrict the pool of equipment you have the ability to sell. Also, internet sales are usually much lower margin than B&M.

Before you decide one way or another, prepare a thorough 5-year business plan to make sure you understand what it's going to take to do this. This will also help you identify what things you don't yet know. Finally, be VERY careful about assumptions in your plan. Be as conservative as you can be.

Best of luck!