Starting my showroom again


 

Hello, audiophiles. I would like to get your honest feedback. Back in 2022, I had to close my business in Nashville owing to a series of unexpected occurrences (several deaths in the family, a rapid move to assist my mother-in-law, and a brain operation); all of this necessitated that I close the store in a matter of weeks. It was now a two-hour trek to Nashville. I worked as a glorified gate operator at a chemical company because that is all was available in our small town. I received an opportunity to become national sales director for an audio company, which would provide some income—not much, but enough to go back into the hifi business at the bottom level.

 

 

 

So now you know the incredibly brief version of the story. Here's the question: there is a little town about 30 minutes away that is booming and gaining more expensive retailers like Ulta and StarBucks. So here's the question.

 

Do you believe a small town like that might support an up-and-coming hifi business that sells receivers, speakers like PS Audio, KEF, and other manufacturers at a lower price point until the store can handle more expensive items? The closest "electronics store," Electronics Express, is nearly an hour and a half away. I have had an audio shop since 2003, beginning in Florida. Thoughts?

 

nashvillehifi

Showing 1 response by paradisecom

I would only attempt that business if I had someone else's millions of dollars to use and I was in an affluent market.  In a small town, that's just financial suicide. 

How many Mercedes/ Aston Martin/ McLaren/ Rolex/ Chanel/ Gucci dealers are in town?  Why would there be any of those brands there?  They sell to the same type of clientele. 

Look at the local real estate offerings.  What's the average sale price of a home per sq. ft?  What's the average sales price of properties?  

Unless you're in an enclave like Carmel CA, or Aspen CO, I'd steer clear of that idea.