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  1. Collapse Details
    Location,Location,Location!!!
    I am 23 and looking at investing in my own retail shop. (selling c.d's, shirts, jewelry,tapastries,etc.).

    I figure my demographic is anywhere between 13-35.

    Would it be in my best interest to try to lease near a high school kind of in or around a neighborhood, where my competition is a little less high profile?

    Or should I face the major corporations on the inside of the mall where my rent and my competition would be steep?
    ( I figure the only thing that could offset the high rent would be more traffic, the only thing that would offset the competition would be to be a $1 or 2 less)

    Any help, advice, or comments would be really appreciated. I am so confused w/ this.THANX!!!


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    Remember where did you go to buy CD's when you were little? If you open your store near schools, some zoning laws might get you, ESPECIALLY if you sell mature content... Go around your town/city, see where teenager hang out (i know i know, mall is not the only place). Preferably, you want to be on major street, towards downtown, or near college campus. (another target audience)

    Good luck,!


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    I agree that the competition is steep, so I think it would be best if your location was far away from the competition. There are the zoning issues too, but I'm sure that you can succeed! What about vinyls? I don't see many people buying CD's any more and usually opt for digital media, but there are the vintage lovers that buy vinyl and vintage concert tee's.


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    I agree that there's usually a lot of competition in the retails market for items of this kind. One way to reduce your risks might be to team up with someone who runs (or wants to open) a place where young people in your community go to hang out, for example a coffee shop, sandwich bar, juice bar - whatever appeals to the local crowd who would be interested in buying the kind of merchandise you plan to sell. In other words a 'cool' place with wifi and drinks and food/snacks that attracts your target customers. You could even have live music, open mike nights, competitions etc. that draw people to 'their' hangout place - and some of your merchandise could be themed along these lines too.


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    I think a good location for a retail store like yours would be in a commercial area or building near schools or grocery stores where there is a lot of traffic. While you are still looking for the perfect location, it would be nice to have a presence on the Internet, on social media. Through there, your business would be known and talked about.


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    I don't what to tell you. That is a very saturated niche. the odds of finding business space near a High School, or College are slim. Even if you did, would you be able to afford it? Any business near a School is sure to be commercial property, and that is going to be expensive. You would be better off renting a booth in the Mall. At least then you will be sure to have steady clientele.


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    Dear fullofdreams,

    I am... let's just say, not so young and full of dreams as well. I'm not sure that, if I were contemplating a retail shop, I would include cd's as part of my inventory. The sad truth is, as a majority, people just don't buy a whole lot of cd's anymore. Personally, I would shy away from a brick-and-mortar location at all. The margins are just so much better with a virtual store on a website. The benefits would be many... you spoke of competing with the "big-boys" which would be extremely difficult to do in a head-to-head battle... not impossible but, REALLY hard. Undercutting their prices would be much easier if you weren't saddled with the overhead of rent, electricity, etc. associated with a physical store.

    Anymore, it's very simple to get a virtual store up and running (as well as any other type of website). All you need is to have someone who will walk you through the internet marketing ins and outs and, I can introduce you to those people.

    Either way you decide to go, I wish you the best of luck!

    Matt


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    Location can be everything, but not as important as marketing. Marketing is huge! You can be in a high traffic area and if not enough people know what you are doing, your competition who is spending money in advertising from their website to online, television and radio advertising is eating you alive! Make sure you website is tight. ( if you cannot afford a 500 to 1200 dollar website, we offer a simple website to get started at 200.00). Begin budgeting to have an audio commercial created for your website and if you can afford it, go video and put it on your website. Utilize that to bring the income into your establishments. Next, raised the funds to move forward in advertising radio and television. Remember repetition is the key to any type of marketing. The more people hear or watch your commercial the more they will know about you and make a decision to see your establishment. Need more advice and or services, go to our website at www.dlbmediagroup.com.


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    Location plays an important role. select the place where people has the chance of stop and visit the store though they have vehicles.No much competiotion should be present.


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    I would recommend you look into mini malls within college campuses. The rent there is usually cheaper. And college kids would have more money compared to those in high school.


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