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Originally Posted by Sieg
Good info.
Can you leverage your suppliers for start up inventory extended terms or dated flooring?
How much and what type of advertising are you planning? If you don't have a location with high traffic count you need to reach out to your potential customers with reasonable frequency.
Graphic designers, websites, social media, email lists, direct mail, print, TV, radio, billboards, in-store signage, etc. use up cash fast. What can you get for co-op from manufacturers and suppliers?
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Seig, I bought my retail space and own it. Also did all the TI's like John mentioned and that is a huge cost. Let's just say that used up most of my capital lol. It has given me a huge break for monthly overhead costs. However, because I wanted to own it limited the locations I could choose from. I would recommend to really research and put a lot of thought into the location, it's a major part of a retail store.
I've done most of those forms of advertising. My family is in that field of business it helps me out a lot with what to do. The best ads for me have been ads on the sides of the transit buses.
Mfg's offered me very little for co-op. my business is all about volume and I can't compete with the volume that the big boxes do to negotiate lower cost. You can buy product by the container but then you tie up lot of capital on inventory you're not sure when you will ever sell
Good luck Rick, if you need any help shoot me a PM.