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Has anyone tried the retail (mall/storefronts)



 
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Old August 31st, 2007 Aug 31, 2007 7:44:37 AM -   #1 (permalink)
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Default Has anyone tried the retail (mall/storefronts)

Hello everyone...
I have contemplated going retail...small space or even splitting a space. Has anyone tried or currently doing retail?! Selling primarily to a certain market. (Vintage, Tourism, Outdoor). Please do share!!!
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Old August 31st, 2007 Aug 31, 2007 8:57:08 AM -   #2 (permalink)
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Default Re: Has anyone tried the retail (mall/storefronts)

While you're waiting for answers, you can do a quick forum search for mall to find people's experience selling there in past discussions.
 
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Old August 31st, 2007 Aug 31, 2007 9:01:32 AM -   #3 (permalink)
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Default Re: Has anyone tried the retail (mall/storefronts)

Like they say.

What are the 3 most important things to consider before you open a street location retail store ?

Location, Location, Location. ...I know, we have all heard this before. Sorry.


High trafic = High Rents

Service geared bus. like making custom stuff, the location is not as important as if you sell ready made goods off the racks.

For off the rack type bus., (I'm assuming this is what you are planning), I would recommend a mall or street location with good pedestrian or/and drive by trafic. With high trafic the rents are higher but you will be in a better position to compete and make some sales at least, at the end of each day.

No traffic low rents is not really worth the time and investment.

Do extensive market research before you sign the lease.
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Old August 31st, 2007 Aug 31, 2007 9:58:37 AM -   #4 (permalink)
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Default Re: Has anyone tried the retail (mall/storefronts)

T-Bot, are you saying that a good location with higher rent will always be better than a less desirable location with lower rent?

I'm in the same boat as James with looking for a place to call home. I've been selling my services out of my home, but do to destractions, the ever present question "Where are you located?", plus the fact of wanting more of the personalized embroidery market, we've been looking at leasing options and locations. The spot that we've had our eye on is an 800 sq ft location just before the county line attached to a high traffic beauty salon and next door to a semi popular italian restaraunt.
My first thought was that the other 2 places could supply us with enough traffic to help spread the word of mouth. I'm a little worried about the long term aspect that after the main "blitz" of curious traffic that there won't be a lot left. It's not 100% visible from the main road and is not in the heart of the city, but it's only $400 per month. He's also willing to give me a 6 month contract so if it doesn't work out, I'm not stuck with another 6 months of rent.
The other options are double to triple the square footage from $1,200 to $3,000 per month and they want a 3-5-10 year lease. They are in much higher traffic areas close to or in the same shopping center as other retail stores or restaraunts and may yield better sales. My market is very iffy though and I'm scared to death of a minimum 3 year commitment with a rent that I don't know if I'll be able to afford.
I know I can afford the lower rent but don't know if the sales will be there. Of course due to my market, like I said, I can't guarantee that the sales will be there either. I have gotten sales by cold calling and I feel like there is a market out there and I definitely won't know for sure if I don't try.

Which location do you think is best for a start-up?
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Old August 31st, 2007 Aug 31, 2007 10:08:41 AM -   #5 (permalink)
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Default Re: Has anyone tried the retail (mall/storefronts)

Quote:
T-Bot, are you saying that a good location with higher rent will always be better than a less desirable location with lower rent?
I'm not t-bot, but what I got from her message was that it's only more important if you're selling "off the rack" pre-printed goods and much LESS important if you are offering custom printing services.

You don't really need walk in traffic if you're selling printing services.

You do need walk in traffic if you're selling printed inventory that needs to move.
 
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Old August 31st, 2007 Aug 31, 2007 10:14:26 AM -   #6 (permalink)
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Default Re: Has anyone tried the retail (mall/storefronts)

Quote:
Originally Posted by Rodney
I'm not t-bot, but what I got from her message was that it's only more important if you're selling "off the rack" pre-printed goods and much LESS important if you are offering custom printing services.

You don't really need walk in traffic if you're selling printing services.

You do need walk in traffic if you're selling printed inventory that needs to move.
So if I'm planning to sell handbags and polos and hats, etc. where the customer picks their product, and tells me what they want on it or if they want screenprinting and embroidery services I might be ok? I will be planning to sell costume jewelry that my wife makes, and stained glass and pottery on consignment from some of my friends. Would that make any difference?
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Old August 31st, 2007 Aug 31, 2007 10:28:06 AM -   #7 (permalink)
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Default Re: Has anyone tried the retail (mall/storefronts)

Quote:
Originally Posted by tim3560
So if I'm planning to sell handbags and polos and hats, etc. where the customer picks their product, and tells me what they want on it or if they want screenprinting and embroidery services I might be ok? I will be planning to sell costume jewelry that my wife makes, and stained glass and pottery on consignment from some of my friends. Would that make any difference?
Yeah, you're mixing two different business needs into one spot

Your wife needs a retail type storefront with high traffic and visibility, you need a low cost storefront that doesn't need visibility.

You could tell your wife to setup an online store, then she could just warehouse the jewelry in your shop and ship it out from there.

But your storefront business needs are clashing at the moment.
 
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Old August 31st, 2007 Aug 31, 2007 10:33:17 AM -   #8 (permalink)
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Default Re: Has anyone tried the retail (mall/storefronts)

Hi Tim,
It sounds like you have an opportunity to take a chance with only a trial 6 month lease. Would your storefront contain any pre-designed work or will there only be a service offered.
 
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Old August 31st, 2007 Aug 31, 2007 10:34:05 AM -   #9 (permalink)
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Default Re: Has anyone tried the retail (mall/storefronts)

Quote:
Originally Posted by Rodney
I'm not t-bot, but what I got from her message was that it's only more important if you're selling "off the rack" pre-printed goods and much LESS important if you are offering custom printing services.
thanks for the clarification Rodney.

Exactly.

If your Primary is "Custom/Service", then (example) clients look in the yellow pages for a place where they can get what they need, so over time you will establish a Drive/Walk TO client base. Advertising is important and simple things like a familiar street name or an easy to find address is all you need. This not so high trafFic location will cost less and give you more room to store your equipment etc. A long lease here with an option of "First Refusal" on the sale of the building is the way to go. But I understand that you may want to include a schedule in the lease where you can pull out after 1 year if things dont workout.


As for having a mish-mash-products/services store, meaning selling everything, every type of item etc... that is not good to start with.

Why? because you want to establish a name and you want your Primary service/goods to stand out. So that consummers can identify who you are, what you do and sell.

Sure, adding accessories etc. to your main Primary is fine, but i think as you do business there, that's when you start to feel your clients in order to provide such Secondary products/accessories etc. Even work them in as Add-on sales at the cash desk.

gee, long post, sorry.
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Old August 31st, 2007 Aug 31, 2007 10:46:12 AM -   #10 (permalink)
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Default Re: Has anyone tried the retail (mall/storefronts)

Quote:
Originally Posted by Areyouready
Hi Tim,
It sounds like you have an opportunity to take a chance with only a trial 6 month lease. Would your storefront contain any pre-designed work or will there only be a service offered.
I've noticed that while there are other shops to compete with in my city that sell the same services, no one keeps any inventory in their stores for the customer to hold, feel, see, etc. I think that I'll be able to make some sales by keeping an inventory. Although this will cost more initially to stock the inventory, if I don't have to worry about high rent, the costs of inventory won't matter as much I don't think. Tourism is also picking up in the area so I'd like to make some premade wearables like a hat or shirt with a dogwood flower with Danville, VA around it or an old tobacco warehouse with the Danville underneath. I won't be near the tourism sector of the town but I can possibly get some items in the stores that are in that area.
When I buy my own embroidery machine, I will invest in a good catalog that has premade designs in many categories pre-digitized so the customer can purchase something in my store or bring in something of there own and pick out what they want embroidered. I'll still contract out my screenprinting.

T-BOT, thanks for your help, you've definitely helped my decision.
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Old August 31st, 2007 Aug 31, 2007 11:01:31 AM -   #11 (permalink)
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Default Re: Has anyone tried the retail (mall/storefronts)

I hope your business does well Tim. I am glad to know that others are curious to see where to advance the business. I am in the thought process of selling to retailers or selling it myself. That will be a new thread altogether.
 
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Old August 31st, 2007 Aug 31, 2007 11:58:16 AM -   #12 (permalink)
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Default Re: Has anyone tried the retail (mall/storefronts)

Quote:
Originally Posted by Areyouready
I hope your business does well Tim. I am glad to know that others are curious to see where to advance the business. I am in the thought process of selling to retailers or selling it myself. That will be a new thread altogether.
Don't forget that there are other options. Sounds like you produce apparel with your designs as opposed to printing for other companies. We have a community market were people come each saturday and sell there own items to whomever comes in. That only costs me $15 a week. There are other stores privately owned that would gladly take your items on consignment and you just owe them a percentage of your sales. Running a store isn't for everyone, I second guess it because of my local market. Maybe you should invest in ecommerce? Just don't jump into anything. That's the most valuable lesson I've learned so far.
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Old September 4th, 2007 Sep 4, 2007 12:19:51 PM -   #13 (permalink)
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Default Re: Has anyone tried the retail (mall/storefronts)

Thanks for your advice Tim. A storefront is not in the near plans for me. I plan to start out with your idea of consignment. We have some people willing to give us space when the shirts are complete. I have also considered a Kiosk. And finally the Website. I am in limbo as to selling to business's or selling the apparel myself. It would be nice to know which would be more lucrative...
 
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