Have you thought of visiting showrooms in similar-sized towns? You may be able to take the owner to lunch, to learn about what is working, and what to avoid. (As long as they don’t see you as a potential competitor.) Or, you may be able to identify someone who wants to sell their business; will you relocate? Pay attention to what you didn’t like, about your past life, and how you will adapt to the retail environment today. And your health, too. Good luck
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?
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I don't know how you would be able to compete with the internet for that range of products at that price point. The 'audio' companies that I see around for a long time in my market are companies that perform install of audio/HT/automation/in-wall speakers and/or sell very high-end gear that is not available from best buy / amazon and has higher profit margins with a very limited dealer network. |
@bugredmachine whos the 3 major players in Nashville? |
People can buy "simple" just about anywhere online now days. My local dealer in a nondescript little town has buyers driving 2.5 hours from different directions [and wealthy Silicon Valley folks] just to buy AudioNote, Quicksilver, SoundLab electrostatic speakers, special turntables, cartridges, tubes, and vinyl stuff from him. Has some nice trade-in gear too they come for. What he offers is unique, not simple at all. More of the boutique or scarce stuff you don’t see listed by online retailers. This differentiates him from others online who sell the regular mainstream stuff x100 across the USA. This is one approach that keeps him going 55+ years. |
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