Thinking of opening motorcycle clothing/accessory store

Unlike Peter I think that personal service and seeing what you get is never going to go out of date. He has an excellent point on stock though. Carrying stock is very expensive. If you can find a new way to do things that isn't gimmicky then I think you have every chance of success.

I'm a solicitor, so in a completely different business. But I have a good few clients who have investigated internet based lawyers and rejected it on the basis that they like to meet the people who do the work, don't trust sending money over the net, don't want the hassle of returns through the post etc. Also not everyone can use the net or wants to. In particular you will find that some older (and a surprising number of younger)customers aren't IT aware, people who don't speak English as a first language are generally also net-adverse. Those are all niche areas where you can cash in.

Try to keep your cost base as low as possible. I'd go for brands which you know you can sell without being too flashy/expensive, so you get constant cashflow. Try to avoid employing staff - it's damned expensive - the 18% employer's NI charge is a horrid stealth tax - and as you have seen, there are so many people who just aren't interested in the business they work in. Sometimes perhaps you can't blame them, but it's a hassle to have to keep motivating people when you'd be better doing the job yourself.

Personally I find being self-employed the most liberating work I have ever done and I would not want to go back to being employed.

I think you'll find there's a market as long as you position the business correctly. There's always a market, it's finding it that's the skillful bit.

Good luck!!

Ed

[northwind]

Originally Posted by Jelster

That's actually not quite the case. HG own the store, the stock and employ the staff, however the Manager is "Self Employed", although he/she has the last say on staff and any additional stocking.

Ah. That's weird

The trouble with internet shops is you have to compete with the entire world. Lets asy you're Busters trying to sell Sidi boots- sods like me can go and buy them from FC-MOTO.DE in Germany for 2/3 the price. And you'd find it hard to compete due to your smaller size.

Originally Posted by Peter Henry

...Internet is the way forward I believe.

You would do.... you spent most of your time on it! :P

I hate buying bike clothing over the 'net. I'm a fairly average size & shape but finding stuff that fits right usually means trying on two or three items. The only place you can do this is in shops.

[rant]
People who try stuff on in shops then by on the net **** me off - How long do you think the shops will be there for if you do that? The shops are providing a service of letting you try stuff on and providing advice - if you want to use that service you should pay for it.
[/rant]

The posters above are right - you've got to be more than just a clothing/accessories shop. Make the shop a social hub for rideouts, or have a coffee shop, or show the MotoGP on a big telly, something to make it different.

Best of luck to you with the idea - if you're not a million miles away we should havea rideout to come and see you when you open!

People who try stuff on in shops then by on the net p*ss me off - How long do you think the shops will be there for if you do that? The shops are providing a service of letting you try stuff on and providing advice - if you want to use that service you should pay for it.

Then they need to actually give some additional service that warrants the extra cash.

Example

Went to a rather large store looking for new leather jacket, seen the perfect jacket and would have purchased it had I not been too busy trying to pick myself up off the floor. Jacket price £350. Couldn't find anything else in the shop that I liked and could afford so went home and out of interest surfed for the exact jacket and eventually purchased for £150!!!!

Please don't tell me £200 extra was warranted just because I tried it on.

Like with all business's the internet it here too stay and if they want to stay in business they either get in on the act or become more competitive themselves.

I have bought items from that shop as I like and get along with the sales people but a smile and advice only goes so far.

Pingu

[Quiff Wichard]

Turnover is vanity- profit is sanity ..!!

look at your overheads first !! before your mark up and yer gross profit..

your overheads ..especially your controllable costs are what will do you in if you aint got the cash flow ..................

most new business go out of business in the first year not because of profit but because of cash flow..!!

its hard work , dam hard work..it wont result in a ferarri and a fireblade within a year but it would be a great challenge...and from experience theres nothing liek standing back and lookina t asuccessful busienss and thinkin "hey - thats my baby ".....

and give the customers what they want not what you think they want....

get hold of a profit and loss sheet - I might have an old one omehwere and look at income , outgoings staff as a % cost of turnover- peaks and troughs in trade.. forward plan... budget ayear ... 13 periods of 4 weeks or a 4/4/5 rotation.... look at quarterly budgets and...... !!!!!!.......... best advice........ever - measure twice cut once !!..... applies to anything..!!!
think , think and think again..andafter that- have a coffe and think..then you can plan...

I have a theory that those with the business brain dont often do!- as they can see the pitfalls.... quite often successful folk are entrepeneurs who seem to bumble through and learn from mistakes... !! and somehow seem to get by.......... so i suppose i am saying- if you have the brain- you will realise it aint worth it..if u don;t- then go fer it..
I jest.. ............. but deffo look at whats going out first...controllable and none controllable costs... staff, heat, light, rent, waste/refuse disposal, council tax/rates..build in some costs for incrementals like damage/shrinkage/glaziers/plumbers/engineers etc... then - you wil have a net figure you need to achieve to just break even without paying yerself a wage ! and remember- the first year you probably will not draw a wage- just survive.... then from your capital expenditure per annum ...you can work backwards !!.... to your required income stream annually then via yer P&L break it down to period, month and week............ just as a pound a day over a year profit is £365 a requirement income of £365 a year is a pound a day !

costs costs costs- thats wotl kill ya !.... a pound saved is a pound on the bottom line ..100% !!! £3 in the till is a £1 on the bottom line net ... get yer p and L right and the rest wil follow........................withthe retail skills yu already have.. go to your bank and ask for the small business advisor.... no a little guy will not pop up..!! but they are helpful...

arm yourself with all the info you can and make an informed decision....
and make it a limited company .....save yer personal assetts....

good luck.

[Quiff Wichard]

ps- i just got in from the pub..so al the above may be b*&***&S

Dude, despite the rambling style of your post, that's possibly the most coherant thing I've heard or read from you, ever.

[Quiff Wichard]

LOL
and I have curry all over me chin...


chinS



I have got a scan of a P and L from one of my pubs somwhere I will find it tomoz...and sow it to as an illustration......of what NOT to do..hee hee

crikey heres the milkman................. is it that early/late?... see mR Milkman wil have a break even figure...(if he dont supply say 40 dozen pints..he is a charity !!!) thats yer goal..not a million profit..stay viable.. owt else is a bonus.

I wonder what time that drunken fool will get up today? Chances of a hang over you reckon? Knowledgeable chappie on this subject though is our Quiff.