Opening a shop

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Teamrf

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Joined: January 13, 2004

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Posted: November 30, 2005 at 5:34 PM / IP Logged

I was wanting all the info, and tips and tricks of starting a new busines in the car audio world.

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Rookie of the year that is...

Don't let the smoke out of your equiptment..it doesn't go back in.

forbidden

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Joined: November 01, 2003

Location: Alberta, Canada

Posted: November 30, 2005 at 5:52 PM / IP Logged

Sure, buy an existing one that has established itself. I happen to know of a great one for sale right now actually. Other than that, do about 5 business plans before you progress anywhere further. If you do not have about $125,000.00 available to you, don't expect to start a business. Then you need more to subsidize the business in the first couple of years to ensure that you can grow your business. It is not hard. Most stores do not make it to year 5, most stores do not show a profit until year 3. Year 1 you will lose money unless you are a sales and service god and happen to plunk your store down in a city that was identified as a city in need. It took me watching this city for 10 years before I chose to move here and open my store. So the safe route is to buy an existing business or have a partner in it to share the risk with if opening a new one.

Top Secret, I can tell you but then my wife will kill me.

Teamrf

Gold - Posts: 1,031

Joined: January 13, 2004

Location: United States

Posted: December 01, 2005 at 1:03 PM / IP Logged

So what if I'm just opening a small shop with just a small show room a decent size bay? I will still need 125,000 to open it?

~The Rookie~

Rookie of the year that is...

Don't let the smoke out of your equiptment..it doesn't go back in.

forbidden

Platinum - Posts: 5,352

Joined: November 01, 2003

Location: Alberta, Canada

Posted: December 01, 2005 at 1:22 PM / IP Logged

More than likely. If you want any sort of brand name line in your store, expect a minimum order of $10,000.00 per line carried. Displays to house this equipment in are not cheap either. My first 2 displays were $10,000.00. Renovations eat up a crapload of $, advertising your new shop eat up a ton of $. A fully equipped set of tools, from tablesaw to routers also is a good amount of $. What happens if all of the good lines are taken in your area by existing dealers? You need to have a product to sell, you need to find out first if product lines are available and what the buy in is going to be on the product lines. 5 lines = $50,000.00 or more.

Top Secret, I can tell you but then my wife will kill me.

Fastlearner

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Joined: March 23, 2005

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Posted: December 01, 2005 at 4:38 PM / IP Logged

Hey forbidden, you metioned you know of a shop for sale. Which one is it. ; )

tcss

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Joined: June 07, 2004

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Posted: December 02, 2005 at 12:03 PM / IP Logged

Uhhh, look at the bottom of his post.

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DYohn

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Joined: April 22, 2003

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Posted: December 02, 2005 at 3:49 PM / IP Logged

Fastlearner wrote:

Hey forbidden, you metioned you know of a shop for sale. Which one is it. ; )

I think it's called "Joe's House of Boom and Chinese Food To Go" in West Covina. Opening a shop -- posted image.

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menace2sobriety

Silver - Posts: 394

Joined: October 29, 2005

Location: United States

Posted: December 03, 2005 at 3:58 AM / IP Logged

if you do open up shop. call it "scammin & jammin" thats a great name is it not!

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jlord16

Silver - Posts: 322

Joined: September 08, 2005

Location: Australia

Posted: December 13, 2005 at 12:09 AM / IP Logged

hahaha thats an awesome name

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Opening a shop

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