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  1. CPisHere

    Retail clothing store

    Also - I wish I had known this before getting into retail: The average bottom-line profit margin is under 5% of revenue for brick & mortar retailers. So if you do $100k in revenue, the average after-tax profit is $5,000. I kind of wrote this off as artificially low in my mind, assuming it was...
  2. CPisHere

    Who worked a job while starting their own business?

    Have kept my job while my wife runs the day to day.
  3. CPisHere

    Retail clothing store

    This was implied here, but to make sure it's clear, you need to AT LEAST double your wholesale prices to get your retail price. This is a 50% gross margin and is a bare minimum on almost every retail item. On some smaller add-on type items you will be able to do a 2.5 or 3x markup. Unless you...
  4. CPisHere

    Brandable Domain Names...

    WEB/DIGITAL 
    I own both, but which one should I use?
  5. CPisHere

    Retail clothing store

    You want to buy inventory based on your projected first months sales. I can almost guarantee that you over-estimated your first month sales, but you should start with approximately 2x your first month's sales in inventory, aka if you project $15,000 in sales you want to open with $30,000...
  6. CPisHere

    Renting Real Estate: Worth It?

    REAL ESTATE 
    Does the 10% for real estate consider the equity that you build up over time?
  7. CPisHere

    Brandable Domain Names...

    WEB/DIGITAL 
    If "X".com isn't available, what is better for a multi-channel merchant (brick & mortar combined with e-commerce): Shop"X".com or "X".net?
  8. CPisHere

    Retail clothing store

    The best book by far is The Retail Doctor's Guide to Growing Your Business. Also of value: You Can Compete, Marketing Your Retail Store, and Guerrilla Retailing. I also bought an e-book that was pretty good called Retail Prosperity Systems - try to google it and find it. Other than books, I...
  9. CPisHere

    Hello from road to 500'000

    He just graduated and is now in Virginia Beach.
  10. CPisHere

    Retail clothing store

    I have a Children's store - open about 8 months now. My store isn't like other Children's stores, it's in very narrowly defined niche that solves a problem many parents near me have. Because we have such a clear idea of our core customer, our whole store (including all of our marketing) is built...
  11. CPisHere

    Hello from road to 500'000

    Were you on Coronado there in San Diego? My brother in law just got out of BUDS there.
  12. CPisHere

    Retail clothing store

    I also own a B&M retail space and may be able to help you. What kind of clothing store is it? Women's Contemporary? Children's? Men's? Edit: I found your website and looks like Urban wear in San Diego, but not sure if just men's or men's & women's. Are you familiar with Open to Buy? Do you...
  13. CPisHere

    Renting Real Estate: Worth It?

    REAL ESTATE 
    I've been meaning to ask, so I might as well put it in this thread, how much does becoming a land-lord tie you to a specific geographical area? I'm considering moving to a different state in a few years, so I don't want to tie myself down to this area. I know that you can hire companies to...
  14. CPisHere

    HELP! I have a great business idea but I have a problem!

    IDEA 
    What kind of contracts do you need to go into? If you are just building a website, you shouldn't have any real legal issues.
  15. CPisHere

    Need Tagline Advice!

    I asked why he was trying to copy Neville's site in a rhetorical manner. I didn't mean to accuse anyone of anything, but I'm sorry if I offended you or Trevor. As I mentioned, I'm all for competition and absolutely believe there is room to compete in any niche. Obviously it was a coincidence...
  16. CPisHere

    Building my USP - Landscaping company

    If you are looking for business/commercial clients, Chamber of Commerce could be worth it if you utilize the networking events.
  17. CPisHere

    Need Tagline Advice!

    I'm all for competition, and wish Trevor the best of luck. What I don't respect is blatant copying. Neville put his knowledge and inner workings of his business out there for us Entrepreneurs to learn from. I'm grateful for that because I know a lot more thanks to him. Because I respect him and...
  18. CPisHere

    How to convert retailership into a fastlane business?

    Higher margins when you sell to consumers directly, but you can scale much quicker with distribution.
  19. CPisHere

    Groupon question

    I've dealt with both LivingSocial and Groupon sales reps (as well as some local knock off competitors), and didn't see much of a difference. I have heard much worse horror stories with Groupon though, where they don't include the agreed upon fine print, etc. I'm sure that there is some room...
  20. CPisHere

    Groupon question

    If I sell 100 Groupon deals at $10 for $20 - Groupon mails me a check for $5 x 100 ($10 price minus 50% cut for Groupon), split over the next 3 months. So that after one month I get $167, a month later another $167, and then by the third month my final check of $167. As each person uses their...

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