Fiddich
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- Joined
- Dec 26, 2018
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G’day everyone!
I am just wondering if anyone has experience opening a physical shop and could offer me some advice?
First a little background.
I currently manufacture my own product (as in I make it myself) and sell it at various fairs/events, markets, shops (not my own) as well as online.
It is going alright so far, my biggest source of revenue at the moment is a market where on a good day I can bring in around $2000 revenue. This is only one day a week though and during the winter I don’t get as many sales as during the summer.
One idea I am thinking about at the moment is opening a shop in the town that I live in. I have worked out the technology which will allow me to have a shop with no employees so the customers can just go in and serve themselves.
I have went through the positives and negatives of not having anyone in the shop to serve customers and I believe the positives outweigh the negatives.
My biggest concern at the moment is the cost of running the shop and the potential not to cover those costs. Basically I don’t know if I will be able to sell enough of my product.
It will be about a $25000 investment to get the shop all setup and to run it for a year. I am not too worried about losing the money and will not require a loan as I have the cash but I am wondering if anyone has any ideas how I could kind of gauge how many sales I could expect?
If anyone else has opened a shop I would love to hear about your experience and any advice you could give!
Cheers
I am just wondering if anyone has experience opening a physical shop and could offer me some advice?
First a little background.
I currently manufacture my own product (as in I make it myself) and sell it at various fairs/events, markets, shops (not my own) as well as online.
It is going alright so far, my biggest source of revenue at the moment is a market where on a good day I can bring in around $2000 revenue. This is only one day a week though and during the winter I don’t get as many sales as during the summer.
One idea I am thinking about at the moment is opening a shop in the town that I live in. I have worked out the technology which will allow me to have a shop with no employees so the customers can just go in and serve themselves.
I have went through the positives and negatives of not having anyone in the shop to serve customers and I believe the positives outweigh the negatives.
My biggest concern at the moment is the cost of running the shop and the potential not to cover those costs. Basically I don’t know if I will be able to sell enough of my product.
It will be about a $25000 investment to get the shop all setup and to run it for a year. I am not too worried about losing the money and will not require a loan as I have the cash but I am wondering if anyone has any ideas how I could kind of gauge how many sales I could expect?
If anyone else has opened a shop I would love to hear about your experience and any advice you could give!
Cheers
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