Starting my showroom again

@nashvillehifi ...The comment by @tunehead reminded me that there’s a local start-up in a b&m building that’s trying something different that you might find more fun, yet keep on the pulse of audiophilia....

( Aims to offer music oriented entertainment touting ’vintage Klipsch speakers’ and a turntable in house with plans to hold BYOLPs’ nights, serving wines, local brews, non-alcohol drinkage, snacks and nibbles.... )

There’s a plethora of mini-venues here in AVL in bars mostly frequented by the young and hip types who either tolerate or amused by the gray aged sorts that dare their doors....;) A few small studios about, and even a LP. pressing plant downtown-ish attending to a lively music scene of genres’ and blends you’d never considered an audience for.....

Perhaps a treated space with tables, chairs, couches....dimmable lighting...house gear @ hand (yours), but visible, sporting some ’reasonable $ SOTA’ (SS and tube) to intro those unfamiliar with the latter....

A second space for your call on some new stuff, but offering to do some consignment sales...obviously showing that which you think has legs to leave eventually without filling the dumpster....

Offer consultation on the various methods and means to take Your Sound home with them after your in-house system intros the newbies as to what that new LP of theirs can really play like....and How.

’Philes are cultivated. Breeding results are spotty at best,,,

Grow your own batch of clients...

Good luck 👍🤞😎 J

(Have an LP cleaning device under the counter if the disc looks like it's been bathed in beer before brought....)

Talk with local builders and construction companies, real estate agents and home flippers to see if there is an opportunity to install systems and/or home theaters.

I would be hesitant as I started with a home business  in a 50 K city about 70 miles from Minneapolis  and  ended up  moving to a store front  and also another store front in a 100 K city  with closest larger city 3 hours away.  Sold Kef, Quads, spendor, Rogers , Qln and Boston Acoustics, , Vandersteen, Apature

Micro Seiki and Kyocera and Walker TT,  

Kyocera electronics, Denon, Conrad Johnson,  Hafler, Precision Fidelity

Ended up selling cheaper products like JVC, Sherwood, Fisher.

Market could no afford the products. Customers wanted a complete system with equipment rack for $1000. Lost $500,000 in 2 years .  

I was not making much at home even when I was drop shipping. Forced to go to brick and mortar.  Had to buy 1 to show and 1 to go and all COD.  It was a hobby turned into a business ( not a good idea )   Good luck if you do start.  A lot of competition now with internet sales. A lot of home based stores  as competitors. 

I lurk around in Reddit and see lots of young folks just starting to get into "better audio".  They inherit stuff from grandpa, or are scouring thrift shops and end up not happy or not knowing how to improve their sound. Some of these people thing they have scored a big find with the black plastic department store systems - they need some gentle exposure to real gear.

There are also a bunch of new vinyl fans who only have a bluetooth turntable and powered speakers who wonder how much better an integrated amp (or some old overpriced "silver face" receiver) will make their system sound.

I guess this would lead me to think a store that has reconditioned, or can recondition used equipment, merged with some streamers and quality entry level components could find a niche.  I'm not sure about on line stealing your sales, but if you stick to MAP products would that help?

I'm thinking that the majority of us boomers are happy with our systems, or having to downsize and give away our extra stuff to family - not spending a ton cash  So maybe cater to  the younger demo who spend a lot of time at home gaming, watching movies, and listening to music at their work from home desks.

This post sounds so familiar. My education and back ground is a sound engineer and electronic technician. Even back as far as high school, my dreams were to have a "stereo store".

When I graduated from college I went to work (in the service department as a tech), for a regional stereo store with 7 locations. I left there to become the store manager and service tech of a stereo store in my home town.

After some differences with the owner, I left and started my own repair shop. I was very successful with that so I figured it was time to take the plunge and open up a "stereo store".

This would have been in 1980. The lines I had were Harman Kardon, Denon, Tandberg, CM Labs, B & W, Rodgers, Polk, among others. By the mid 90's I was close to having to file bankruptcy.

I closed down the retail part of my shop and went back to strictly servicing. In the early 2000's it became evident that the repair business was going south as well.  Equipment had basically become throw away. The ratio of out of warranty repairs to in warranty had completely flipped. As a result, it was time to change career paths and I started a new business.

The business was very successful. With success I had developed an exit plan (as I was 10-15 years out from reaching retirement age). About the time the exit plan was to go into effect in the early 20 teens, the buyer decided it was too much work, left and changed career paths for another job.

Now I had to find another buyer, and COVID hit. Business fell to 17% or what it was. Luckily, I eventually found a buyer, was able to sell at a reduced price, but I am officially retired.

In regards to your situation, a couple of points to be made. Everything you knew about business from you previous experience, it is not totally irrelevant, but mostly.

The Pandemic changed everything, and it will NEVER go back t how it was. Web presence or not, you will not compete against the Amazons of the world.  The Pandemic allowed Amazon to become the "go to" shopping place, and that is ingrained shoppers habits, and habits are hard to break. 

Others have mentioned cash reserves. Very valid. Unless thing have changed, vendor have "opening order" requirements, and there is a $$ amount buy in, and then you have to do so much each year to keep the dealership, and most want the line fully represented (no cherry picking).

It is fun and very fulfilling to educate people about audio, but that portion doesn't pay squat. Most people will go for the best price, even a few dollars. No business is rock solid any more. Who would have thunk Sears would be where they are.

You can work you ass off (as I did with 70-80hr weeks), and in the long run, while it keeps you afloat, it doesn't seem put anything in your bank account.Believe me, I'm talking from experience.

The long and short of it is, you are going to do what you want, but if you want to save yourself the stress of wondering how you are going to pay the bill, buy or collect audio equipment for your own enjoyment, or go t work for someone else, because the stress gets in the way of the joy and fun.