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#1
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I'd like to talk to anyone running their own business
I'm interested in opening up a retail (and possibly online) business for home theater and stereo equipment. Can anyone tell me, or be willing to discuss, the merrit and pitfalls of such an operation? At the moment, I know very little about what needs to be done - how to get hooked into the distribution network, startup costs, operational costs, liabilities, how much to stock, what to stock, marketing, etc. If you've had this experience already, I value any input you can provide. I'd hate to make a mistake and jump in not fully inderstanding what I am getting into and fail. Recovereable mistakes are OK, I expect that, but failure is not an option! thanks , gene -- Using M2, Opera's revolutionary e-mail client: http://www.opera.com/m2/ |
#2
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I'd like to talk to anyone running their own business
"gene" wrote in message news I'm interested in opening up a retail (and possibly online) business for home theater and stereo equipment. Can anyone tell me, or be willing to discuss, the merrit and pitfalls of such an operation? At the moment, I know very little about what needs to be done - how to get hooked into the distribution network, startup costs, operational costs, liabilities, how much to stock, what to stock, marketing, etc. If you've had this experience already, I value any input you can provide. I'd hate to make a mistake and jump in not fully inderstanding what I am getting into and fail. Recovereable mistakes are OK, I expect that, but failure is not an option! What experiance do you have, have you worked in home hifi retail? how will you take market away from the buying groups. If you do not know what buying groups are perhaps your not quite fully ready for this I own my own Sound Contracting firm I do live sound reinforcment, audio instllations for retail, food service, education, government and health care facilities, I also am the service arm of several nationalpackaged music suppliers(DMX, 3M, Morrisions, Play network) I sell packaged designed installed and service contracted solutions but closed my retail store 10 years ago I spent 10 years before that in retail electronics and commercial A/V A small bit of advice " Most" Consumers(your customers) will be able to buy stuff that meets thier needs at lower price, better return policies, and better selection from a best buy or cost co, than you will buying direct from the manufacturer If you genuinely have something special you can offer besids a love of Hi-Fi then perhaps you have the ability to find your market niche if it is solely your love of hi-fi that is driving this desire I'd say don't quit your day job My waring on the puitfals of retail AVOID floor plans at all costs Advertise 10x what you think you can afford Your help is everything treat them like partners, pay wise and respect wise Your customers are everything treat them better than your help you are nothing your job is to serve your customers and employees If you have pride in your work that is good, if you have EGO about your abilities you will fail I could go on and on but I would perfer to answer specific questions george |
#3
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I'd like to talk to anyone running their own business
On Thu, 3 Jul 2003 10:15:23 -0700, gene wrote
(in message ): I'm interested in opening up a retail (and possibly online) business for home theater and stereo equipment. -----------------------------snip---------------------------- Go to the CEDIA show in Indianapolis, which I believe is happening in the first week of September. There'll be lots of seminars for dealers, and I assume some of them will provide business plans and "how to" information. --MFW |
#5
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I'd like to talk to anyone running their own business
Oh, my bad......I thought the header on this was "I'd like to talk to anyone
running their own bus"......... nevermind tuna |
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