Toy shop start-up

Hudson1984

Hi all, after some advice re a toy shop. Bare with me...

I had an online shop a few years back selling miniatures and never really made much money but really enjoyed having my own little business on the side

thinking about getting back into it but this time with a shop! in my area property prices are still pretty low in that I can afford a shop with living accommodation above providing I keep the day job.

Was thinking of buying the place as a bit of a warehouse for the online business and open the store on Saturdays to sell out of directly.

are there any implications of opening a shop once a week? I mean ideally I can grow the business online and increase time spent in the shop and who knows - maybe one day stop the day job altogether

any advice in this respect would be cool

Hudson1984

Oh and this isn't something i'm planning tomorrow (just look at my signature I have other priorities atm lol)

Valli

The thing with a shop is you need stuff out, on display, to be eye-catching etc, and to attract passing trade.

So you will have people passing on other days who can't come in and buy. You'll still need insurance etc. is it worth going to the effort and expense of setting up a shop that's rarely open?

A warehouse is a different set-up.

Pennywise

You'll have power, business rates, water rates, insurance, alarm, and other "shop" costs 7 days per week, but only sales on 1 day of the week. (You won't see any reduction in rates or insurance for the days you are closed!).

Even worse, whilst Saturday morning is a fairly busy shopping day, the afternoon is completely dead out of town in the precincts etc - virtually no trade at all after say 2pm. In fact a lot of shops close on Saturday afternoons for that reason (not worth the overhead to open).

I fear that you will have a real battle to do anywhere near enough sales on effectively half a day a week. Let's face it, shops are struggling that are open 6 days per week, let alone just 1. I think you'll end up subsidising it from your wages - i.e. it'll be a hobby rather than a profit making business.

Hudson1984

hmmm maybe not the best plan then....be better off renting the shop out at that rate.

shame really, i really want to start a small business in my spare time as a hobby and grow it to one day support me...but i'm sure there are millions with that idea

Wywth

So now you are thinking of being a landlord too? :eek:

What if no one wants to take on your little shop? Have you seen the number of empty shops out there? They are offereing all sorts of offers at present, like 12 months rent free just to get the empty shops back in use. That's probably also why you are finding such properties being offered for sale on the cheap.

Why not get a nice domestic property with a suitable outbuilding or a secure lock up if you want to operate on online store in your spare time?

Hudson1984

well the landlord idea was kinda the initial plan...then I saw shops and though oooooh shops....bad idea apparently lol

but yes can see your thinking, and the idea of offering 12 months rent free.....EEK!! it's not so much that they are cheap, they are comparable with pricing in the area but yeah thinking deeper into it they are mostly established shops that are now closed....have to ask why

I think you're right, a lockup might be the better option really. Need to be realistic

paulofessex

How about going down the party plan route. You may be able to offer to sell on the night for those needing an urgent item for a present they forgot. Or take orders on the night as long as your confident your supplier can get them for you.

I wonder also if it is worth considering seeing how much it would cost to have some small brochures printed containing your products, without prices as you can place an A4 price list in it, and putting them through doors like betterware and the like do.

Percy1983

I would stick with online and see how it grows, depending how much space you need for stock dictates what to do next.

An example of this is oak furniture land, it started just selling on ebay and grew to retail stores.