Does anyone on this board actually have experience with or currently

Hi, a friend of mine used to have a convenience store however, after a while (2 years) he couldn't stand being at the shop all day and sold it. Will you need to be in the store all day or can someone easily take your place ??

>>1854289
I can and will be in the store all day but my girlfriend could take over if I even wanted a day off or had to do something.

I understand how stressful it must be being in a convenience store all day but in my case I'd be working with something I enjoy and am passionate about.

>>1854299

If you're working with something you love then that is a huge plus. The fact that you have someone that can take over for you while you're away is even better. From memory, my friend only hated the fact that he was tied to the shop, not being able to leave or put someone in his place. Which country are you in ??

Wish you the best.

>>1854314
Norway, so the taxes are going to be brutal, but Scandinavian countries are very "pro-business" and if you have the right product then the odds are in your favour.

Thank you.

>>1854335

No problem. I just posted a thread about asset protection, do you know anything about that ??

>>1854283
Read (more than) a book on investment analysis.

Then make a business plan and analyse the NPV of the expected free cash flow, my dude.

Expected revenues
Expected costs (fixed and variable)
Taxes
all that crap

Then decide how to finance it.

Godspeed

>>1854356
Any recommendations on books or articles/lessons that will help me?

>>1854440
I don't, unless you can read in portuguese.

>>1854845
don't have any*

But it shouldn't be too hard to find. I suppose most business degrees have a course on Project Analysis

>>1854890
I'll try and look for something like this, thanks

>>1854283
Selling retail to the public from a brick and mortar store is a dying genre. It was never very profitable but now it's going extinct.

the only strategy that makes sense is if you own the building and sell something that's either an impulse buy, marketed to people with no internet/shipping address, or something people need right away and can't wait to have shipped.
Even then your goal isn't to make money off selling inventory- in real life that rarely happens. Your goal is to pay the mortgage and not starve to death so in 15 or 30 years you have a building worth a million or so and a business name that might be worth something to someone else when you sell it.

/biz/ has very few business owners, far less than average for adult populations. Of those few, none that I've seen sell retail to the public from a physical store. This is in line with actual statistics- only a tiny fraction of businesses in real life are retail stores with physical addresses. These types of business aren't usually profitable as single-locations, and they perform MUCH worse than average over time.

>>1854283
>I've spoken with different people I can trust about this and they genuinely like the idea, and 2 of them even want to invest or be involved with it.
This isn't an objective measure of the worth of your idea. For obvious reasons such as these people like you and will probably over-estimate your chances of success, and they aren't necessarily qualified to know if your idea has merit.

self-analysis suffers a similar problem- you're prone to over-estimate your own chances of success doing a thing you want to do in the first place.

A better method would be to offer us more details and let us criticize your plan. (What are you selling, what's the margin, how many units are currently bought in your area, how many units can you realistically sell, how will you compete with other sellers, what's your real overhead?)

A better method is to pitch your idea to a bank. They're in business to make money, they WILL destroy your idea.

Ultimately the only test is to go to market with it. You will fail, but you'll learn some things that will help you next time.

>>1856150
>>1856180
I appreciate the thorough reply.

We wont be selling a product you can have shipped. It's actually a tattoo studio.

I know tattoo studios have suddenly appeared everywhere in cities and towns, but in my particular city the demand is high and offer is low, people are waiting months for appointments. Tattoos are more popular than ever, and the quality of artists here is really bad, yet they still have literal months-worth of bookings.

I have a lot of contacts in the industry, I have artists that are better/on par with the quality of artists currently available here who would be interested. I have experience in this field too, I spent several years assisting an established successful studio in another part of the country and so I've see what there is. The quality speaks for its self and the word spreads fast because your clients are walking-billboards of your product.

My aim will be to offer the best quality locally or at least match the quality of what there currently is here. I'm starting on a budget and understand there is a high chance of me losing my money, but I've done my research and really have concluded that there is still a demand for a product here, almost a gap in the market. The good thing with this is there is no products involved, the only investment is in designing and maintaining the store.

Long term plans would be to relocate to a larger store and begin to offer laser removal treatment.

>>1856227
OK, this is a significantly better plan than I had imagined.

The only real questions you need to ask yourself are how will you pay the rent/utilities during slow times, how long can you afford to lose money on it, and at what point will you cut and run if you DO lose money on it.

Also get quotes for liability insurance from insurance agents, this is a relatively high-risk business to get into.

Other than that your failure or success will depend on your artistic and marketing skills, something I can't judge. Only the market will.

>>1856247

Other questions to ask is what kind of clientele are you looking to attract? That will determine the type of shop you're going to front. And the type of shop you're going to create will determine the cost of up front investments beyond gun and ink.

>>1854283

What's your idea?

Otherwise we can't help.

I run a profitable small business that is not brick and mortar. Furthermore, generally when there's not any companies doing the idea you have, then it's because the idea sucks.

Also you sound like you have little life experience. I strongly believe you need to work in a thing before starting a business of that thing. Not doing so is throwing money away 90% of the time. So as an example, if you open up a restaurant and you have never in worked in one before, then you dumb as fuck man.