i want to start my own store..... (1 Viewer)

[Anthony Moore]

i already posted this, but with no replies except one saying to change the subject. So I did..any help will be appreciated
Hi all,
I just graduated from the University of Florida. My friend and I have realized, with the sudden appearance of money, that our dream of opening a home audio/video store doesnt just have to necessarily be a dream anymore.
My friend went to FullSail, and majored in something that makes him knowledgable about installing (while the home is being built) different componants needed for home theater. My uncle is a contractor and he sub-contracted us to pre-wire and pick out audio/video componants for a few houses, and we have gotten nothing but praise from the new homeowners.
We would like to take this to another level and open up our own store. We will specialize in home-install/pre-wiring, etc..but I would also like to have a store with everything from sony to denon and so on....
Does anyone know anything about becoming a retailer/being able to purchase from sony, denon, all of those at wholesale prices. Just anything to get started. I realize that I may be trying to chase a dream that probably wont happen, but that doesnt mean that I'm not going to give it my best shot.
Now, there already is another small audio/video shop here in town, but their prices are waaaay too high and the people there are snobs. So I think thay here in Gainesville is a good place to start.
ANY advice will help....
you can reply here or email me at [email protected]
Thank you
anthony moore

 

[Bill Lucas]

Anthony,
If you're going to be a custom install company then be a custom install company. If you're going to be a retailer then be a retailer. The two don't mix well. They need to be run as separate businesses and with different staff. The costs can kill you because of the redundancy. Retail space is much more expensive. Instead get inexpensive space in a more industrial area and have a demo area that is by appointment only and a conference room. It is easy for you to say that another businesses prices are too high when you aren't running the business and supporting the overhead. I carry NOTHING that is discounted on the Internet. I get paid for my expertise and experience and if I choose to give a system discount it is my decision and not that of an online etailer. No offense to any Internet shoppers but those that want to go cheap on the purchase usually try to cut corners and go cheap on the install. Then they wonder why the system doesn't function as it should. When I recommend a system it works well *as* a system.
Custom install shops are doing very well and are more profitable than retail. I do custom installations for a high-end retailer and I've begun a custom install business of my own on the side.
Your product line should NOT be everything from Denon to Sony with everything in-between. Too many choices for a purchaser are confusing and many times they end up making no decision at all. Carry two to three choices at most and make recommendations for systems. Getting product is no big deal. Find out who the reps and distributors are in your area. Send me an e-mail at [email protected] with detailed questions and I'll be happy to respond. Regards.

 

[BryanZ]

Replied in other thread.

 

[Michael Lee]

Bill Lucas offers excellent advice above. It is obvious that he has been in this business for awhile. I, however, am very new to it and am learning daily. I did mix retail with custom installation and the jury is still out whether or not it will pay off. We pull business from the adjoining appliance store here (who is my partner), and lead generation is very important in the early stages of the game.
Getting product is also not the easiest task. Reputable manufacturers want reputable dealers. If you are new, you have no reputation...hence they will be very apprehensive to give you their line. It is not impossible, mind you, but it is very difficult. Neighboring dealers are very leery about sharing their lines with anyone. Still, there is a lot of business to be had out there..so you never know.
Also, the industry is really starting to recognize the potential of custom installers. A good case in point is Mitsubishi, who previously scoffed at custom. Now they have opened the doors to people without showrooms and are offering pretty nice deals for them.
Let me know if I can help you in anything--I did get lucky in getting some decent lines (and like Bill recommended, chose a select few).
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[Thomas_Berg]

good to see there's another entrepreneur here...i'll repost in about 10 years after i graduate and get some business experience.
that is also what i plan to do with my life. i really want to own/start my own A/V store. that would rock!
GOOD LUCK ANTHONY
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-Thomas
My HT

 

[JohnnyG]

Great responses from Bill and Michael. To touch on Michael's comments regarding acquiring product lines, that was probably the most frustrating issue for me. I had the money. I had the retail space. Most of the calls I made to all the 'big boys' were never returned! My store's opening was delayed by over a month because I couldn't get my hands on enough product lines to sell!
Soooo, my advice to you is to talk with the vendors first and get commitments from them before even thinking about it. The number of vendors on-board will also help determine the space your retail store will require.
Next thing to focus on is systems. Make sure you select a point-of-sale/inventory control/accounting system that will grow with your needs. If you want to be on the web, make sure that's an available option.
Good luck and don't be too hasty in your decision!