Forums: Discussions for entrepreneurs and small business.

Hey Mark-

Don`t want to put a damper on your thoughts but think it over very carefully before making the leap. Landlords will generally require a multi-year lease (and usually a personal guarantee in case you try and slip out early) and then there are additional fees such as CAM (common area maintenance), taxes and more.

Just want to give you some things to consider: Is the foot traffic at the center really your target customer? What`s happening at the center (are stores anxious to move in or is it slowly losing its tenants)? What about the grocery store? Has it been there a long time? Are there new shopping centers being built in the area that might draw away your customers (or tenants)? For example, my sister had a pack and ship stop in a busy (older) shopping center anchored by Winn-Dixie. Her lease was up and the landlord was pressuring her to sign for an additional five years. She got suspicious about the pressure (she had been in the same location for 15 years) and started nosing around only to find that Winn-Dixie was about to file plans to build a new store a 1/4 mile away (she didn`t sign the lease but did move to the other center). It has taken the old center five years to recover from the loss of WD.

The point of all my rambling is that making the jump to the store front can be a big commitment (financially and otherwise)--you should do as much homework as you possibly can to see if this opportunity is really the right one for you. I speak from experience. I once was a partner in an 11-store retail chain and several times we dove right in to what on the surface looked like the "perfect" opportunity without taking the time to dig a little deeper and find out for sure.

 Also-before signing any lease do yourself a favor and have an attorney review it.

Good luck,
Ron

Ron and Janie are right on. Rather than take on the extra cost of a retail store, employees, etc. I would consider selling your products at weekly craft and art markets. I have sold my art at the local art an craft market for the last five years and have been able to increase my income some $4000 to $5000 per month working only 4 days each month. It is a good way to show your products and find new customers. Many of the artists and craftsmen in the market have ended up in national catalog`s and retail stores. If you want more information on how to set up this type of business message me here in Sun. 

Winston

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Warm Regards,
Cherie

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Studio Cherie

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I agree with what has been said.  An acquaintance of mine does machine embroidery.  She opened a shop in a VERY HIGH TRAFFIC area in a small strip mall with a good mix of businesses near two very large grocery stores.  She was closed within a year.  Honestly, it`s not really a business that a large number of people need/want.  It might work good INSIDE another business like a copy shop or other business services store or even a dry cleaner, but a stand-alone shop probably couldn`t consistently make the rent each month.

A friend of my parents` has a small shop attached to her home where she does this type of thing.  It`s much lower overhead and it has it`s own outside entrance and sign.  It`s out of the way on a rural country road but people seek her out because of her long-time connections in the business community.  It works well for her and she has much more flexibility. 

~Kim