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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?

 

128x128nashvillehifi
yyzsantabarbara
4,879 posts
 

@oberoniaomnia You are only an hour away from some of the best audio stores in the USA. 

bassbuyer
115 posts
 

Thanks for sharing your story.  I hope everything works out for you.  My suggestion with starting a business is to investigate the local market and see if there’s any interest.  Social media is a great tool if you don’t know a lot of the locals.  Best of luck!  

cfarrow's avatar
cfarrow
98 posts
 

I have a good friend of mine that’s had a in house retail business and online as well.  He switched from higher priced gear to lower mid-fi gear and has not seen any pickup from making the change.  He made an attempt to sell unique lower priced tube gear and hasn’t been successful at all with it.  You are talking about spending the money for a store, inventory to include demo and stock units, sounds difficult to me.  I have bought gear from my friend just to keep some cash flow coming his way, I just don’t see how you can compete with online retailers and the used market in this crazy economy that we are in. 

yoyoyaya's avatar
yoyoyaya
763 posts
 

@OP. Have you got the cash to handle the first six months to a year of business when you will have little income and many outgoings?

I don't know what the US market is like, but in Europe, the low end market is dire due to a combination of demographic and economic conditions.

The high end market is much healthier as it is not being cannibalised by cheap multiroom and bluetooth audio products.

mswale
98 posts
 

That is a hard question to answer, are you just looking for validation or really asking?

What else is in the town? What is the demographic? What are the income levels? House princes/sizes? What is the area's disposable income like? Is there a thriving downtown? Where do you want to locate yourself? Busy area with walking traffic, or a destination spot? Any other competition in the sounding area?

Think I would talk to local record stores, and repair shops. Anything else that is "electronics" What kind of store do you want? Just new 2ch, or mix of new and vintage with a repair side? Do you want to sell media as well? As others have said, the main thing now is sound bars and home theater. 

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