would like opinions for possible buisness

[87grandnat]

I am considering strongly considering trying to open a store in the big mall that we have in Arlington (The Parks Mall) My ideal is a store selling MMA appereal and gear, like UFC shirts and what not. There are alot of very popular brands out there (TapouT, BTT, Sprawl, Affliction..etc.) but there are no stores here, the only place you can get appereal and gear from is online.
MMA is the fastest growing sport in the world and I really think this would be a good ideal, but would be horrified of it not working and being shut down, I would just really like some opinions of everyone out there, whether it be fans or people who have started buisness and succeeded

thanks,
Joshua

 

[Gothmog]

I, I would just really like some opinions of everyone out there, whether it be fans or people who have started buisness and succeeded

thanks,
Joshua

You'll need alot more startup capital than you think you'll need and work twice as hard. Clothes is risky
my $.02

 

[cimi4749]

isnt it something like 85% of small business fails within the first year?

 

[chrisgarrett]

Let me begin by saying that I have owned several successful businesses. I agree with the statement above regarding start-up costs. If you sit down with paper and pencil, and assess the costs (rent, inventory, insurance, utilities, salaries, fees, permits, etc.), you will see that you will need to sell an extraordinary number of items. There are probably also licensing fees associated with selling the products you mentioned. Since you can't be there all the time, you will need to hire someone and this is where the salaries, medical insurance and stealing comes in. While you may have a lot of enthusiasm, you cannot be there all the time. Since you will not be able to draw a salary right away, any prudent business owner will set aside at least a year of operating income to support you and your family. Few people consider how many hours they will have to work when they own a business. I think it's fair to say that the number of hours that you will work will be doubled. My final comment is this: I would be very concerned that you will have too small of a customer base to support your business.
Sorry to be so negative, but that's how I see it.

 

[1BADTT]

With the rent in the big malls ???? I personally wouldn't do it ! Good luck if u do.

 

[bishir]

Internet! Sell em on the net!

 

[TexasT]

Find a local nonprofit place that helps with the small business administration. There is a local place here called CEED(Commmunity economic development or something like that). These guys helped me with a business plan and that sort of thing. This type of support will help you realise how much it might take to get into some thing along those lines. They also have seminars on different small business needs like accounting, personell management and the like.

 

[Christophah]

Make a list out of all your fixed monthly expenses. don't plan on hiring anybody for the first few months of business. Total up the cash that you will need to stay open for a month, then figure out how many t-shirts you would need to sell in order to cover your expenses, and turn a small profit (enough to pay your personal bills, eat, car payment, etc.) Don't pay yourself any more that you absolutely need to survive, and ask yourself if the amount of t-shirts you need to sell to stay in business in feasible. Then you will know.

 

[BOOSTBROTHER]

Here is what I have seen with a lot of small business and some things to look out for.

1. You are going to be married to this store, You need to work the store as much as you can. I have seen people who get the "I'm the boss I don't need to work" so they hire someone to run the store while so they can be the boss.

2. Your friends and your family before you open the store make a rule about what if any discounts you will give them. If they are your friend they will understand that you MUST MAKE A PROFIT if the store is to stay open.

3. Your friends and your family be very careful about giving them jobs. It is your business and how you support your family so don't just give someone a job because they are family or a friend, if you do hire one of them make sure they understand that it is a job and that they are thier to work.

4. Keep your expences as low as you can don't buy a years worth of advertising to get a better rate or the bigest yellow page ad.


Not trying to be mean but I have seen a lot of business get picked clean by there friends and family and most of the time they don't even know they are doing it.

I hope this helps
BOOSTBROTHER

 

[70Mach1]

To place a store into a big mall location is going to cost you BIG! Plus you better have a strong financial statement and I mean STRONG!