Who has a brick and mortar store on here?

[OhioGuy]

I'd like to discuss business ideas with folks who have actual store fronts. I've always wanted my own business and have decided that I want a physical, brick and mortar store. I'm not sure what kind yet but it would be interesting to pick some brains out there about the topic.

What kind of store do you have? How long you been in business? Would you ever go back to working for someone else?

Thanks!

[Blessed]

I don't have a brick and mortar store - but at one time I was the personal assistant/assistant to the manager of a small retail shop in a downtown area.

A couple of quick thoughts on that -
It was a made locally gift shop in downtown Topeka Kansas - which at that time was a pretty good downtown - most of the shop fronts were full, etc... I left 15 years ago, the shop closed 13 or 14 years ago and I haven't been back to Topeka in 10 years? maybe more... but from what I've seen from other clients I work with and colleagues I talk to who are still in retail my experiences have validity.

We were successful because we served a niche market - however it wasn't too specialized and we quickly branched out into similar products to capture those on the fence about shopping with us.
We opened in late September or early October one year with the store space still "under construction" we had the walls painted and the flooring in but the entry way wasn't finished yet, the shelving wasn't finalized... We started with only made in Kansas items and put together gift baskets that could be shipped anywhere or delivered locally. We were very involved with the Chamber of Commerce and Visitors Bureau - due to other connections we had because of the twice weekly newspaper that was owned by the same individual we had a ready-made marketing source and contact list so we sent fliers, cards, gift baskets... to the people we thought would be most likely to purchase our gift baskets. That first holiday season was BUSY. Every lawyer wanted gift baskets to send to their most important clients, corporate clients in the area sent baskets to VIP's locally and around the country, the walk-in business was good from those people who worked in the office buildings downtown and needed to do as much holiday shopping as possible over their lunch break...

Then it completely died in January.

Before Valentines day we added more products - including some hand made soaps that weren't from a Kansas company, but were appealing enough that it didn't matter - so we left the strictly a "Made in Kansas" business plan behind. We also added perishables - locally made cheeses, cider, wines, etc... We found a local photographer that made greeting cards, added some greeting card companies that you couldn't find in WalMart or the local drug store and got the atmosphere of the store really settled. Although we were a "made in Kansas" store we didn't go for the "country" feel. We painted our walls Eggplant and burnt orange, removed the ceiling tiles and had an exposed urban chic warehouse feel in the rafters with the walls above the 10 foot mark painted in a dark charcoal gray, did a dark stained oak floor, used old barnwood and black painted pipes to build shelving along the wall, used stainless steel shelving in the store, stainless steel light fixtures - but without a glaring light - we went for a warmer light source than the bright white bulb, and then added in a touch gingham, corn stalks and sunflowers.

Business was steady - nothing blockbuster, but we were finding our stride. We started asking our customers what else they would like in the store and the answer was a soda fountain... so we put some black and white tile down at the back of the store, installed a small freezer and had ice cream and sherbert. We were in between a Subway and a Coffee shop and sold bottled soda so we didn't sell fountain drinks but did sell the ice cream. We also added a candy bar with high-quality chocolate covered everything, special gummy candies, nuts, etc... That was enough to draw people in through the summer - we started using a chalkboard on the sidewalk with daily specials and the walk-in traffic increased, so the sales stayed steady and climbed some more. Then July came and we didn't sell anything except ice cream. Once back-to-school happened sales picked up again and we had another successful holiday season.

I worked the store from inception until I moved 3 years later and we found that we had to be careful how much money we spent on what - just because we thought a product was neat, didn't mean everyone else would too. The made-in-Kansas specialty stuff remained a good seller for us, but it wasn't the novelty that it was the first year we did that. If we hadn't added additional products that rounded out our product line we would have failed. We ended up being more of just a gift shop - specialty games, jams, jellys, jerky, seasonings, hand crafted items, etc... we found a local potter and sold his items - at first he just gave us high price point items and they sat on the shelf, admired but rarely purchased so then he started giving us lower price point items as well - coffee mugs, smaller bowls, etc... and then all of it started selling. We kept careful records of what sold and made sure we had that on hand. We learned that things sold better if there was a sense of urgency about being able to get the item - so even if we had an abundance of stock we didn't put it all out and if something sold out we would leave it off the shelf for a day or two before restocking, then would put on our sign out front that we had more in - and people would come shop. Other things we purchased once, and when they were gone - they were gone. Usually because it wasn't practical or possible to get more.

We also found that what worked one year didn't necessarily work the next year... it was important to talk to the people who came into the shop, find out what they were interested in, keep an eye on what the four or five other shops with a similar focus on main street were doing and talk to those business owners too. When our customers found out that we would look for what they were looking for - they would tell us what they wanted and we would find it for them - that built loyalty. We figured out which vendors knew their stuff and which ones were a waste of time. The store manager went to the huge trade show for retailers in Las Vegas, it was a big cycle - shop and buy, sell and pay the bills, shop and buy... and it was fun. I loved working in that retail environment. I was also the managing editor of the paper so I spent about 30-40 hours a week on the paper and only 10-20 hours a week on the store but I learned things there that still apply when I'm working with clients today. The other thing that helped is that the store manager and I were both interested in what we were selling - handmade products, local artists and manufacturers, specialty items that you couldn't find at the local superstore. Since that is what we both liked we knew what kind of shopper we were looking for and what price points would work and we made sure we had things for the local college kids who were interning downtown and the super executive with a suite of offices on the top floor of the building across the street and everyone in between.

In the fall of 1999 I got married and moved 2 hours away but still talked to the owner of the store often and brainstormed with her on what would work for the upcoming holiday season, then in 2000 the owner of the store and newspaper was diagnosed with an aggressive form of brain cancer about mid-way through the holiday season and died in mid-January 2001. His wife was the manger of the store and she inherited the store and all his personal assets, his kids and ex-wife hated her and they inherited the newspaper and his commercial real estate holdings - including the building the newspaper and store were in. The kids sold everything they inherited and the new landlord was going to raise the rent quite a bit at the beginning of 2002, so it was becoming quite difficult for her to keep the store open. After the 2001 holiday season she closed the store and moved to the west coast where her kids had settled so that she could be near her grandkids. Her heart wasn't in it that last year and she simply closed the store - didn't try to sell it, didn't add much to the stock for the holiday season, just sold what she had.

Long story short - the same owner having two different businesses he owned in the same building along with another retail space next door that he received monthly lease payments on made it possible for this upstart brick and mortar business to be successful in a high-rent district of the city. We had no weekend traffic to speak of, and only had Saturday hours from November-pre Christmas. Even then we were only open until about 1pm on Saturday and it was worthwhile, but not a huge shopping time for downtown. During the week we closed by 6pm, there simply wasn't any business after that. If we'd had to pay regular lease payments I'm not sure the store would have been profitable enough, quickly enough to keep it open. As part of a whole income package that included the newspaper and publishing business and commercial real estate, it worked - adding just enough revenue and tax write-off's to be worthwhile.

If you're going to set up a brick and mortar - know your product, know your market and make sure your store front is where the shoppers are. If you are a destination you have to create a reason for people to come to the store beyond buying your widget. You will do better if you are in an area where there are other stores close by.

So, what do you think you want to sell? What are you interested in?

[OhioGuy]

Not sure what I want to sell yet, or to what age groups. I have a lot of homework to do. Although this is very important, working for myself is the ultimate goal. As long as I can do that and keep a roof over my head I'd be the happiest guy on the planet. I can't imagine waking up each morning knowing I don't have to answer to a boss or deal with the ridiculous corporate politics. What I sell or who I sell it to is an afterthought, yet important. I want my freedom. I want to build my dreams, not help someone else become successful. I don't have the answers at the moment but I've always had a dream to be my own man and run my own successful business.

I plan to swing by various shops while I'm out and about during the days and just talk to other small business owners. I look at it this way, millions of people work for themselves and put food on the table...why can't I?

[Blessed]

You know... depending on what the dynamics of your town are like - I've seen several small business owners come into a downtown area and be able to start some sort of brick and mortar there. If your downtown is "revitalized" and has an active association that promotes the downtown area - it might be something worth checking into.

In the meantime swinging by shops and talking to other business owners sounds like a great place to start!

[Harold Mansfield]

I'd start with what you're interested in. It can lead to discovery of great ideas that you hadn't even considered. Your approach of "Let me see what I can sell" works for experienced retailers. Once you've done it a few times, you can replicate the formula with almost any product. But as a beginner you're learning everything from scratch. You should investigate products or services that you already know and like to lessen your learning curve and keep your interest level high.

Trust me, one thing leads to another if you just do the leg work and start with the talents and interests that you already have.

Just my opinion of course.