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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Unless you are looking for a hobby/job to close out your career, I would not envision owning a B&M HiFi shop as being a lucrative business venture, and particularly in a smaller community within 30 miles of a larger community where there are already three incumbents.

With the abundance of product information and reviews available on the internet these days, direct-to-customer sales, and manufacturers willing to allow 15 to 45-day return periods, the B&M business model is mostly obsolete. Exceptions might include locations in major cities where the buyers have more money than time, and companies handling a significant amount of internet sales that also have a physical presence such as Upscale Audio, Tweak Geek, and a few others. The model you remember from previously would be very hard to successfully replicate, IMO.

I stopped going to our local shop years ago (metro area pop. 250K+/-) when I realized that I would have to choose from only two or three brands, and that I typically knew more about the products than the salespeople, who seemed to mostly know only as much as their distributors had shared with them and about only the products they carried. The shop eventually closed over 10 years ago.

With the thriving music and recording industry in Nashville, there may be other types of opportunities for rewarding work. Maybe hook up with one of the companies that provides/maintains professional concert and recording equipment.

I think you bring out a very good point I'm 42 years old right now and I've probably got maybe another 8 or 10 in me my vision would be something to wear I could keep my overhead low I've run the entire shop all my life with one person me handling payroll bookkeeping taxes inventory and all that it's what's in my blood it's what I know how to do and my plan would be is to open a shop to where you could appeal to people that maybe just want something small and really don't know too much about it and all they see is ADS left and right but really don't know what they want and to have somebody explain it

The model that seems to work is a retired guy with some bucks and a passion to have gear around. Write off a portion of the house, be able to buy larger lots and sell off the dogs as "demos". Use the internet to meet audiophiles, cross dealership lines, sell, sell, sell. I get solicitations from dealers on this site. It's a warm lead.

Small town tough. Best of luck sounds like a passion!

I know several who maintained their company name, but now work out of their homes. The downstairs is the showroom and the upstairs is their living quarters.

Just a thought.

I have no doubt a small town/population could sustain your business, 100K people or so, in a 20 mile radius. It's mostly about what would sell. A few expensive brands and components are boring to most of the public, you would attract maybe a few 100 people. I would think you would need a range of audio products and systems under $1000. You'd have inexpensive but quality equipment during Christmas time flying off the shelves. I would avoid brands Amazon sells.

But honestly, I don't know how much starting a business like this would cost, so I should stay out of it.