if you have enough cash up front to cover your first 3-6 months of business, have a solid business and marketing plan...GO FOR IT....start up capital is key if you ask me...you don't want to try to make money "today" for "tomorrow" bills....if you can cover your operating expenses for a few months i would go for it...if not i would wait....my humble opinion....good luck!
Comtemplating on opening a retail store, would like to hear testimonies from business owners.
So I think I am at that point financially (or atleast enough to startup) to open a retail location. As the title states, how were you able to overcome that risk factor before opening your retail store? I've been online for a year and a half, but also been making local sales and making custom heat transfers for a few businesses. But I want to maximize my profits and open a store to bring in more walk in traffic and make good income. I have a great business model in mind, I'm an expert with illustrator and photoshop so I've never outsourced artwork set up jobs to other companies which saves tons of money. My main concern is the risks involved, but it can also be rewarding. One shop I work with is making tons a month mainly because of the tourist spot he is in. I would like some inspiration!
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Yeah, I would be able to pay rent for 4 months with no business at my current rate which is good I think. I actually have all the capital now, a graphtec 24" vinyl cutter, Roland Bn-20, ricoh sublimation printer and a heat press. The only thing I would need to invest in is good selling screen printed heat transfers that I can press on the spot. Man I am getting excited lol I think now is the time to start since summer is coming up, also football season will be starting after that.
I know this type of one off business works in shopping malls, but I've never seen one in a shopping center.
sounds like you crossed your T's and dotted your I's.....get your marketing plan together and go for it!
Sounds like fun, I don't see too many shops like the one your planning on setting up in my town. I do see storefronts that offer screen printing as their main business though. They are usually set up in rough parts of my town and in flea markets i'm assuming due to the low monthly rent. You know how much business your capable of and i say go for it, wish you the best. keep us updated
We started working out of a mobile home, after three yrs we were able to get our corner location on main street in fronof a busy gas station. When we got our first walk-in and made the first sign, it was the most exciting feeling. Busisness took off even more.
Hey guys, yup I will be looking into possible locations over the weekend. Also ended up purchasing screen printing equipment last Monday from Ryonet. I think this will be a great addition to be able to offer bulk order services to business owners and do one offs at the same time to the public.
I've never screen printed before so I'm pretty nervous, just need to get over that learning curve! Any suggestions from experienced screen printers are welcome!
Awesome! Curious, how was the first month of opening? I'd imagine it took some time for people notice your location.We started working out of a mobile home, after three yrs we were able to get our corner location on main street in fronof a busy gas station. When we got our first walk-in and made the first sign, it was the most exciting feeling. Busisness took off even more.
How large is your town? Do you have local competition? Do you have a niche?
I opened a retail shop 3 years ago. My biggest mistake was inventory. Too much! Still have stuff I am trying to get rid of and it has been ammunition that I use over and over with my husband - he didn't think I had enough inventory! We went from a single head embroidery machine - to now having 5 heads, from a manual press to an auto. Warning: I have worked 6-7 days a week 14 - 17 hours a day since I opened. I have gained 40 lbs since I no longer find time to exercise and when I eat it is what ever is fast and easy. My house is a mess and my garden is full of weeds! Vacations are history, because you can't just lock up your doors when you are trying to establish yourself.
Think it through - there are as many Pros as there are Cons - just be prepared for the bad stuff as well as the good. And most importantly.....UNDER PROMISE AND OVER DELIVER!!!
Wish you the best of luck.
I opened a retail shop 3 years ago. My biggest mistake was inventory. Too much! Still have stuff I am trying to get rid of and it has been ammunition that I use over and over with my husband - he didn't think I had enough inventory! We went from a single head embroidery machine - to now having 5 heads, from a manual press to an auto. Warning: I have worked 6-7 days a week 14 - 17 hours a day since I opened. I have gained 40 lbs since I no longer find time to exercise and when I eat it is what ever is fast and easy. My house is a mess and my garden is full of weeds! Vacations are history, because you can't just lock up your doors when you are trying to establish yourself.
Think it through - there are as many Pros as there are Cons - just be prepared for the bad stuff as well as the good. And most importantly.....UNDER PROMISE AND OVER DELIVER!!!
Wish you the best of luck.
first thing we did was changed the backlit sign we have out front, then we started putting postcards on all of the bullitin boards we could find in town. Then we went to all of the small local buisness and gave them a flier with all our services. After all that we put a big decal on the back window of our suv with some services and tel. number, also had a friend let me put another on his car.
population is about 19000. with about 5 screen printers, and were all still here. Some shops do better things than others.
Were also part of a church here and town and have had the previliage to be able to visit all of the local churches as well since most of us have the same beliefs. Guess who makes all the local churches shirts?
Another thing is that if we just depended on shirts we would probably not make it.
Hope this helps someone.
population is about 19000. with about 5 screen printers, and were all still here. Some shops do better things than others.
Were also part of a church here and town and have had the previliage to be able to visit all of the local churches as well since most of us have the same beliefs. Guess who makes all the local churches shirts?
Another thing is that if we just depended on shirts we would probably not make it.
Hope this helps someone.
I think the important thing is having enough capital to stay in business while you establish yourself. There will be inventory issues where in the beginning you will want to have everything on hand, learn to subdue those passions. In the beginning, middle, and established outsourcing is not a bad thing. The more you do, the more the business depends on what you do, the less you will get done. There will come a time where there is negative effect (gain). If you maintain modest expectations, your results will be manageable. What you think is great, is your opinion, Likes are not buys, and passions can be your most formidable enemy.
We opened one 6 years ago and it is nothing but growth. If you offer a quality product and your customers can find you you will make it. The location is one of the keys and being able to be found is the other.
Good Luck, it will be an adventure.
Good Luck, it will be an adventure.
Thx for the suggestions and testimonies! Currently I am operating in our family warehouse, the traffic here isnt the greatest, i am able to get by because i have no overhead cost and also since I sell online which gains bigger profits. Also there are 3 tshirt shops within walking distance. Most of my customers are business owners so my pricee have to stay somewhat low but they are headache free to deal with because they know what they want. The walks ins on the other hand are extremely cheap! A custom made 8.00 t shirt is considered expensive to them. So I definitely want to move to a better area.
So far in my second year ive been super busy, no time for anything, when Im home I am working and preparing for the next day. The only time I have for the gym is before work five in the morning. Im 25 btw. I am hoping to have some trustable employees when i find a good location so I can atleast take a breather and step outside for a couple hours lol good employees are a must! So many business owners I know have lost thousands due to their employees secretly stealing from them its rediculous.
But yes I do have a niche market geared towards teens and college students which sells consistently online. Because Im in a wholesale setting my local sales are almost always custom. A business owner needs bulk tees with their company logo while another needs custom heat transfers for his t shirt stand. I plan to market to both retail and wholesale customers. Im sure i will be fine as long as the location has alot of people walking by.
So far in my second year ive been super busy, no time for anything, when Im home I am working and preparing for the next day. The only time I have for the gym is before work five in the morning. Im 25 btw. I am hoping to have some trustable employees when i find a good location so I can atleast take a breather and step outside for a couple hours lol good employees are a must! So many business owners I know have lost thousands due to their employees secretly stealing from them its rediculous.
But yes I do have a niche market geared towards teens and college students which sells consistently online. Because Im in a wholesale setting my local sales are almost always custom. A business owner needs bulk tees with their company logo while another needs custom heat transfers for his t shirt stand. I plan to market to both retail and wholesale customers. Im sure i will be fine as long as the location has alot of people walking by.
I too am wanting to take this leap but haven't saved up enough $$ yet. I currently have another part time job so my shirts would have to make up the expenses of the brick & morter site (utilities, internet, etc, etc, etc) as well as what I make at my part time job. But I do feel that if I had a shop that people could tell others "She's the one on the corner of such and such streets" then my biz would grow. Right now I just work out of my shop at home so people don't know when I will and won't be home. I don't have a problem getting orders from people I know it's the cold calls that haven't started coming in yet which I feel a storefront would increase those.
I already work all hours of the day on the shirts so for that I'm prepared but yet that's part of it if I have a store then I won't be able to go out to the shop while dinner cooks to do one thing, or after the kids go to bed. Which could be good or could be bad.
I already work all hours of the day on the shirts so for that I'm prepared but yet that's part of it if I have a store then I won't be able to go out to the shop while dinner cooks to do one thing, or after the kids go to bed. Which could be good or could be bad.
We pretty much live at our shop we are so busy. We hired 5 people in the last 4 months
I opened my storefront after 6 months of working from home. I am on a busy street and I my rent in very low. so it works for me
I thought about a storefront, but because my market is niche, and I work full time, I plan to buy a trailer and go after my markets. Find somewhere to park near my target locations and set up shop. Not a bad idea.
Slee410 where do u sell online?
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