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Key:
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Global Mod,
Mod
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Joined: Jul 2011
Posts: 39,598
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 39,598 |
That first year working 80-100 hours a week without a paycheck was my favorite part! Then that 2nd, 3rd and 4th year of working 80 hours a week and drawing a 40 hour a week salary. Dealing with accountants that have no idea what they're doing. Firing that accountant and getting another one that doesn't know much more. Hiring people who work a month and quit, or hiring people that can't pass the drug test you told them they were going to get, or dealing with bad debt from the 2% of customers that don't pay, or.... But I wouldn't go back to working for someone else for all the tea in China. If you've got your a/r down to a 2% loss that's pretty dang impressive. Sometimes you gotta get down on their level. I know a guy.....
If my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then will I hear from heaven and will forgive their sin and will heal their land. 2 Chronicles 7:14
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Joined: Oct 2003
Posts: 25,712
Freak of Nature
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Freak of Nature
Joined: Oct 2003
Posts: 25,712 |
Retail has always seemed like a crappy business to me. Whether it's guns, groceries, or clothing. Huge overhead, lots of startup capital, lots of competition, and you can't liquidate it very quickly in case of a downturn.
If I was going to start a business. I would look for:
A. Something that has a barrier to entry. This lessens your competition and drives up your margins.
B. Something that you can perform initially with low overhead and minimal if any employees.
C. Something that is easy to liquidate. Being on the hook for thousands of dollars a month in overhead, inventory, equipment, payments, and expenses is a scary prospect if they are on yearly contracts.
Basically, a service based company is many times more secure, than a product based company, for a fledgling entrepreneur. Once you've built up some serious financial stability, a product based company may become more appealing. Very good points. If you do choose retail, start with a minimum viable product and start out with as little debt as possible. Perform routine tests to see what works, what doesn't, before scaling up.
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Joined: Oct 2003
Posts: 25,712
Freak of Nature
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Freak of Nature
Joined: Oct 2003
Posts: 25,712 |
To answer the question, I'd say time is the most difficult aspect to starting a new business. When is it the right time? When is it wrong? Lastly, it will be a whirlwind from start to finish.
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Joined: Jan 2001
Posts: 29,728 Likes: 165
Freak of Nature
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Freak of Nature
Joined: Jan 2001
Posts: 29,728 Likes: 165 |
The hardest part for me would be having enough in reserve to survive the lean times early on that ultimately happen to almost all new businesses.
Lord, please help us get our nation straightened out.
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Joined: Mar 2015
Posts: 6,251 Likes: 30
12 point
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12 point
Joined: Mar 2015
Posts: 6,251 Likes: 30 |
What's the hardest part to you all about starting a business?
I am trying to figure out besides the location, name and licenses and what I will actually be selling. I would like to get a building in a high traffic area and setup but unsure of how I might do better then the other businesses already around. Have plenty of capital and at least 12-18'months living expenses. Don't expect to turn a profit right away. Create a business plan. There are templates available on SBA website. Be honest with yourself when answering basic questions about your business and your competition. What do you offer that the public wants? If you open a restaurant, and 6 are already in your town, why will the public go to your restaurant instead of others? What local, state & or federal regulations apply to your business? There are many considerations before you pull the trigger. Good luck
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Joined: Nov 2010
Posts: 11,785
Booner
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Booner
Joined: Nov 2010
Posts: 11,785 |
That first year working 80-100 hours a week without a paycheck was my favorite part! Then that 2nd, 3rd and 4th year of working 80 hours a week and drawing a 40 hour a week salary. Dealing with accountants that have no idea what they're doing. Firing that accountant and getting another one that doesn't know much more. Hiring people who work a month and quit, or hiring people that can't pass the drug test you told them they were going to get, or dealing with bad debt from the 2% of customers that don't pay, or.... But I wouldn't go back to working for someone else for all the tea in China. My accountant estimated I'd owe $15k. So I had to file and extension and sent the IRS $5k. Sent my taxes out yesterday I owe nothing. WTF? If I don't get money back from my wife and I's personal return I'm gonnna flip
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Joined: Jan 2016
Posts: 4,753
10 point
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10 point
Joined: Jan 2016
Posts: 4,753 |
Personally, I don't think that a gun store in Ashville, AL would be successful. I assume you mean open it there because of your location in profile.
Why?
People in a rural area don't have a lot of spare money to spend on random tactical/tacticool guns and if they do, they don't spend it on firearms. Many of the firearms they have are well made/taken car of hunting type arms that have been handed down.
Also, a lot of those people travel a good bit for goods anyway, so it's likely they already shop for guns in the Pell City/Leeds/Trussville area. Plus, a new gun store is being built in Moody as we speak. I don't think it will be around long.
A mans got to know his limitations.
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Joined: Mar 2015
Posts: 6,251 Likes: 30
12 point
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12 point
Joined: Mar 2015
Posts: 6,251 Likes: 30 |
Not a brothel but tactical/gun/knifes/holsters and more FFL/Gun Shop is a tough very competitive business. Margins are razor thin. The distributors like RSR are the ones who make the money. Lots of paperwork. Too much competition.
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Joined: Oct 2012
Posts: 3,995
10 point
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10 point
Joined: Oct 2012
Posts: 3,995 |
Brothel..... Contrary to the popular opinion on this board, not everybody likes guns, but everybody likes.....well you know. As for the legality, they're making these real life robots that a lot of brothels are going to. Surely its not illegal to boink a robot? After all, people are trying to marry computers now days. You'd be the first and only in Alabama. 
Lone Watie: I'm glad you stopped me when you did. I might have killed her
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Joined: Sep 2015
Posts: 358
4 point
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4 point
Joined: Sep 2015
Posts: 358 |
Good information guys this is why I turned to you all because you have been there done that or are doing it. Gives me Ideas and other things to look at. The reason I want to own my own is 1. I like firearms and gear. 2. I am tired of fulfilling someone else's dream living working my ass off. I would like to put my energy into something of my own. 3. I would like to build something up from the ground up and pass it on to my son one day.
No, Location would not be in Ashville because the traffic would not be good enough to support a business like this as stated by willdo22. I do hope Line of Fire does well, I tried to get a job there when he was first building sent my resume never heard anything back.
my idea is FFL/tactical store but I would like to be more involved in what I like to do like Fish, hunt, firearms, knifes, other tactical gear. So I would focus on firearms and tactical but also carry some hunting gear that moves fast during season and after seasons. I would also like to sell local made stuff like what skullworks does with his shirts and knifes.
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Joined: Jul 2011
Posts: 39,598
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 39,598 |
There's a couple of empty buildings where gun/tactical/shooting stores went out of business around here. No way I'd risk my money by trying to start one.
If my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then will I hear from heaven and will forgive their sin and will heal their land. 2 Chronicles 7:14
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Joined: Jan 2003
Posts: 14,744 Likes: 65
Pope of Aldeer and Expert
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Pope of Aldeer and Expert
Joined: Jan 2003
Posts: 14,744 Likes: 65 |
Good coffee and take care of your customers whether it's a single mom getting a $115 .22 for her child or dude that orders 5 Les Baers@$4350.00 each. Hire clerks that are knowledgeable and aren't Tommy Tactical methyl ethyl lifetakers&heartbreaker DeltaSealReconTesterone morans.
Support our country. Kill chickens.
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Joined: Jun 2015
Posts: 15,386 Likes: 80
Old Mossy Horns
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Old Mossy Horns
Joined: Jun 2015
Posts: 15,386 Likes: 80 |
There's a couple of empty buildings where gun/tactical/shooting stores went out of business around here. No way I'd risk my money by trying to start one. My thoughts also. I enjoy guns a lot but wouldn't be looking at getting into the retail sales.
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Joined: Sep 2014
Posts: 3,126
10 point
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10 point
Joined: Sep 2014
Posts: 3,126 |
Brothel is best option so far. Hard to beat it (pun intended)
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Joined: Sep 2015
Posts: 358
4 point
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4 point
Joined: Sep 2015
Posts: 358 |
location location location is my first rule I am looking at, demographics, statistics, city growth year over year.
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Joined: Nov 2014
Posts: 8,060
14 point
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14 point
Joined: Nov 2014
Posts: 8,060 |
Get into hydro dipping or something other than just selling guns. Bakres Hydrographics is an FFL as well, and that dude is so busy he can't even answer the phone! lol
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Joined: Oct 2003
Posts: 25,712
Freak of Nature
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Freak of Nature
Joined: Oct 2003
Posts: 25,712 |
Good information guys this is why I turned to you all because you have been there done that or are doing it. Gives me Ideas and other things to look at. The reason I want to own my own is 1. I like firearms and gear. 2. I am tired of fulfilling someone else's dream living working my ass off. I would like to put my energy into something of my own. 3. I would like to build something up from the ground up and pass it on to my son one day.
No, Location would not be in Ashville because the traffic would not be good enough to support a business like this as stated by willdo22. I do hope Line of Fire does well, I tried to get a job there when he was first building sent my resume never heard anything back.
my idea is FFL/tactical store but I would like to be more involved in what I like to do like Fish, hunt, firearms, knifes, other tactical gear. So I would focus on firearms and tactical but also carry some hunting gear that moves fast during season and after seasons. I would also like to sell local made stuff like what skullworks does with his shirts and knifes.
No offense but customers don't care that you want to do something you love. The only thing they care about is superior value. What is that you are going to provide that will make them choose doing business with you over your competitors? You don't have to answer that in here but you better answer it before starting a business.
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Joined: Jan 2012
Posts: 10,526 Likes: 13
Booner
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Booner
Joined: Jan 2012
Posts: 10,526 Likes: 13 |
Get into hydro dipping or something other than just selling guns. Bakres Hydrographics is an FFL as well, and that dude is so busy he can't even answer the phone! lol X2
"The Heavens declare the glory of God;and the firmament sheweth his handiwork" Pslam 19:1
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Joined: Jan 2005
Posts: 25,132 Likes: 143
Freak of Nature
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Freak of Nature
Joined: Jan 2005
Posts: 25,132 Likes: 143 |
Good information guys this is why I turned to you all because you have been there done that or are doing it. Gives me Ideas and other things to look at. The reason I want to own my own is 1. I like firearms and gear. 2. I am tired of fulfilling someone else's dream living working my ass off. I would like to put my energy into something of my own. 3. I would like to build something up from the ground up and pass it on to my son one day.
No, Location would not be in Ashville because the traffic would not be good enough to support a business like this as stated by willdo22. I do hope Line of Fire does well, I tried to get a job there when he was first building sent my resume never heard anything back.
my idea is FFL/tactical store but I would like to be more involved in what I like to do like Fish, hunt, firearms, knifes, other tactical gear. So I would focus on firearms and tactical but also carry some hunting gear that moves fast during season and after seasons. I would also like to sell local made stuff like what skullworks does with his shirts and knifes.
No offense but customers don't care that you want to do something you love. The only thing they care about is superior value. What is that you are going to provide that will make them choose doing business with you over your competitors? You don't have to answer that in here but you better answer it before starting a business. Yep. You have 3 things customers will demand from your business. You must provide 2 of them to be successful. Price, Quality and service. It's almost impossible to be the best in all 3 but you had better be outstanding in two of those three or your location won't matter a lot. Location is very important for a convenience store. Not as much for a gun store. You can advertise and overcome location if you fill a real need and provide 2 of the 3-things I mentioned.
" I do view Jim Waltz as a really good Presidential candidate"
Bama_Earl
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Joined: Sep 2013
Posts: 2,616
10 point
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10 point
Joined: Sep 2013
Posts: 2,616 |
First part is having an idea for a business that serves a need that is currently underserved, or that you know you can do better.
Second part is identifying that you have the correct market and potential customer/client base to support said business. There is no reason to start a business that you may be ultra passionate about and are convinced you have a better way of doing things if you don't have enough potential clients with the ability to pay you that are close enough to use your business. I think in Alabama that is the hardest part. Some parts of our state are so poor that starting a new business there seems like an impossibility. Then you add in the government wanting their pound of flesh in terms of taxes and it makes even less sense.
Once you get beyond having a workable and successful idea on paper, then you get to move onto the actual hard work, which probably won't pay off for a few years at minimum. You'll be struggling to pay rent, taxes, employees, utilities, supply expenses for a long time before you actually start to make any money for yourself. This is why it's so hard to create a good, reliable small business. The idea part is hard enough, then finding the right area/market, then actually executing said idea and maintaining it.
Last edited by dirkdaddy; 09/17/17 03:56 AM.
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