The wife is opening a store

[griz326]

The wife brought back a lot of stuff from China that she wants to SELL!, SELL!, SELL! We are entertaining the idea of renting a retail space that will cost about $500/month-all utilities and Internet included.

 

There are plenty of problems with the wife's plan, but none are insurmountable if she's good at selling.

 

#1 - She probably doesn't have enough inventory to cover a 3 month lease if it all sells.

 

#2 - She doesn't know much about merchandising. She just bought a bunch of stuff to sell.

 

#3 - I ain't shipping her back to China for months at a time to buy merchandise.

 

 

So first...any general comments, tips, recommendations?

 

Next, does anyone know distributors of Chinese goods on the West Coast or in NYC? (I figure we may not make as much money buying from a US distributor, but we will at least have enough inventory to give it a go.)

 

I'm committed to giving her the best shot that I can, but I'm not as flush with cash as I was when I was still single

[The Jeff]

What about an online store?

[tonado]

Try selling them in ebay first.

[chilton747]

It's your fault if this doesn't get off the ground. And it is your fault if it doesn't succeed. But it is her idea if it is successful.

[hakkamike]

Eureka, Montana population 1000, good luck.

[chilton747]

Eureka, Montana population 1000, good luck.

 

 

That was 10 years ago. The population now is 1002.

[shadeOgray]

Better get those long term issues ironed out before you get into it. Explain to her

you are supporting her by ensuring this lasts long term.

Isn¡¯t there a Flea market someplace that would be better suited for this type of adventure?

 

I personally never had much luck selling on eBay, seems I always break even at best but maybe you can do better then I.

Edited June 19, 2010 by shadeOgray (see edit history)

[b.c]

Yep definitely a tough game. But you never know until you try. I would certainly consider more than the business aspects in your analysis.

 

It may not look like its too promising, but how is it going to affect your life at home if you do not allow her this opportunity? If you can afford to lose a little chunk of change in the 3 month period then you might get a lot of bonus points for it.

 

I would take a more consultative approach regarding the inventory. Assuming she has a decent variety of things now, use that to experiment and see what is selling and whats not. Then try to source the specific items that sell well. I wouldnt rule out sourcing them directly from China. First, a lot of companies have lowered minimum order quantities significantly if you find an opportunity to buy directly from a company. Or you could have a friend or family member buy the items and ship them to you. Either way is not that difficult.

[passion fruit]

I see from a previous thread your wifes english still relies on a electronic translator, going to be tough if she cant freely talk to sell.

[Yuanyang]

$500/month is a deal. In our area you can't rent that cheaply in the War Zones. Wife wants to open a store badly but can't find the right area. Typical rent and triple net is between $2,000 to $3,000 per month less utilities.

 

Good Luck!

[griz326]

Thanks guys... I'm open to any thoughts about this because I know nothing about retail.

 

I'm encouraging an expansion of her merchandise to include impulse items. I figure if we are lucky enough to get someone in the store to look during tourist season, then we'd better get them to spend a little something before walking out the door.

 

Lou han guo, ÂÞºº¹û (sweetener); blooming tea; unusual compressed teas; good luck charms, really strange food items and Chinese remedies might work as an impulse items with our high tourist population in the summer.

 

I'm also wondering if I could legally sell Chinese booze dropped shipped directly to the buyer from China. ??? I'll make a few calls on that in the next few days. I'd love to get a source for cobra and/or scorpion wine. (I'd love to get a display of those things for the store - even if I can't get a source for drop shipping)

 

The really weird stuff might attract gawkers and stir up chatter.

 

I'm game for all sorts of impulse items that avoid the cheap Chinese crap moniker. If you have any neat things that might make impulse items, I'd love to hear about them. Over the years I've run across many unusual things in China, but for the life of me, I wouldn't know where to begin to find them today.

 

The truth, though, is that I believe Lao Po wants a woman's clothing store. That's fine with me, but I'd sure like to have a place that sucks tourists in until we get our feet planted.

[warpedbored]

I've been in retail management for 10 years. Your overhead is small, that's a good thing. You don't want your inventory in stock too long. If it's just sitting there it's costing you money. get rid of it and stock something that does sell. Lastly watch your margin. If you don't get at least a 40% margin you'll lose money.

[chilton747]

 

 

I'm also wondering if I could legally sell Chinese booze dropped shipped directly to the buyer from China. ??? I'll make a few calls on that in the next few days. I'd love to get a source for cobra and/or scorpion wine. (I'd love to get a display of those things for the store - even if I can't get a source for drop shipping)

 

 

 

If I am not mistaken, snake wines are illegal to import here.

[Amaro]

I have no retail or business experience. However one thing does catch my attention. I have never heard of Eureka in my life, or ever had any plans anywhere in my future to go to Montana, with a population of a little over 1,000 or maybe even 2,000 people by now.....What tourist are you expecting to come buy your stuff? I live in a town such as Orlando, FL. If any of you have ever been here, you would know its a busy city for tourism, let alone some of them are cheap as hell.

 

I think taking this business to the internet or ebay would be a better approach at things.

[dnoblett]

What about an online store?

I was thinking the same thing, can reach way more than you would out there in Montana.

 

Want to know more let me know.