Setting up a small retail business

[Punk Rooster]

Who has had experience setting up/running a small retail shop?
What are the pitfalls/benefits?

I'm considering an idea (very early days yet), & would like to gain some information on what to do & what not to do.

It would be a clothing shop in the city, is the basic idea I have, in a niche market.
Ideally it would be a smallish shop, so as to be easier to "fill" the shop with stock.

[Psyber]

Who has had experience setting up/running a small retail shop?
What are the pitfalls/benefits?

I'm considering an idea (very early days yet), & would like to gain some information on what to do & what not to do.

It would be a clothing shop in the city, is the basic idea I have, in a niche market.
Ideally it would be a smallish shop, so as to be easier to "fill" the shop with stock.

We ran an art and craft "gallery" in Hahndorf in the mid to late 1980s. It did well when the economy was inflating, but when interest rates went up and demand fell off it started to haemorrhage money, mainly because of the CPI linked rental situation. Fortunately, I was developing a property at the time and found someone who wanted to take over the rented premises and moved the gallery into the premises I owned and had just renovated for sale until I offloaded both before the property market collapsed too.

My advice would be to start with a short lease and a "right to renew" to give yourself an out if it is not going well, as the economic signs are starting to look similar to that period now.

Personally, I don't think small business pays unless you really do have an undercatered to niche market and you are in a place where that niche clientele hangs around.

[Dirko]

Men's Bandanas ?

[Footy Chick]

Men's Bandanas ?

Yes...and sandals

[Dog_ger]

Keep out of Shopping Centres Punk.

The Rent will kill your business.

I don't know how health food shops survive...?

Seaside cafe's seem to boom......

The $5 short black will make you rich.....

[redden whites]

How is punk going to undercut the servos with the gerry can market?

[TroyGFC]

talk to STT he can get government assistance and go into business with you!!