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Going out on my own. any input is appreciated.

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TCBinaflash

New Member
My background, 18 years in printing last 8 year co-owner of a B2B large format shop with a POP focus.The biz was profitable, proftiable enough for my partner to embezzle money and break up our partnership.( I know, shame on me)

So I walked away with a little money and I have equipment (RTR, laminator computer cutter, etc). I know how to run the equipment, but I'm best at sales/ Customer service.

My intent is to open a storefront, in the community I live, It's affluent and I have no competition. Traffic by the location is 10k cars a day. The closest shop is a franchise 20 mins drive.

I have about 6 months operating funds set aside.

But I don't have a partner, or anyone to bounce my "success thesis" off of.

This all sounds good so far, right? What details am I missing?

Thanks guys!
 
Pat Whatley

Pat Whatley

New Member
#1. Don't finance equipment. With the ridiculously low prices you can wholesale stuff for sub it out, make great profits, don't buy until you can pay for it.
#2. Don't buy equipment. If your skill set is sales and design then operate your storefront, sell the heck out of everything, design it and sub it out.
 
Gino

Gino

Premium Subscriber
I take it, your EX-partner is not in business any longer ??

Why not contact all of your old customers and tell them you've gone out on your own and want to get their business back.
Then, as Pat mentioned, do your 'sales' thang and get a ton of business going, farm it out and create a base.
If you work the storefront, who's gonna go out and do sales ??



Anyway..... good luck !!
 
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TCBinaflash

New Member
That is totally my plan. I'd like to do as little production on site as possible. Only enough to meet immediate and rush needs and present a proper production facade. Also I don't want to spend my time in production when I could be networking with people who would send me projects.
 
T

TCBinaflash

New Member
There in lies my quandry...Chicken or the egg.

I still have to honor my llc agreement and do no harm to my former company so I can't solicit clients directly, tho if they find me they have the right to send business. Also I had to finance a portion of the business, so if he loses business he can't pay my ***.


I'm thinking my other option like you said was go out, network, join groups and get work. Once that's done only then get the space and hire someone to attend it for me while I get more work or just sit in my backyard with my fee in a kiddie pool.

I could easily siup up shop in the garage thru the summer months (If that ever arrives?)





Anyway..... good luck !![/QUOTE]
 
Pat Whatley

Pat Whatley

New Member
By the way, I know all too well about partners taking money.....mine went to prison. Everybody has this idea that an owner can't steal from the company since it's his money anyway. That's not exactly correct. Depending on what your incorporation articles say he is probably an officer of the corporation but he's an employee of the company. My former partner tried that "owner" mess on me....the District Attorney laughed at him.
 
T

TCBinaflash

New Member
It wasnt enough money to go crazy about, but it was enough to lose my trust in him going forward.

sucks. We had a good thing going.
 
Stanton

Stanton

New Member
TCBinaflash said:
Traffic by the location is 10k cars a day.
Click to expand...


People stop for donuts on their way to work, not to buy a sign.

They are also not going to stop and buy a sign on their way home.

Unless you want to make "Yard Sale" stand-ups for $2.75 ea. / $30.oo a dozen. ???
No such thing as a retail sign shop. Home Depot has 'For Sale' signs and things.


Feel free to disagree.
 
Gino

Gino

Premium Subscriber
Stanton said:
People stop for donuts on their way to work, not to buy a sign.

They are also not going to stop and buy a sign on their way home.

Unless you want to make "Yard Sale" stand-ups for $2.75 ea. / $30.oo a dozen. ???
No such thing as a retail sign shop. Home Depot has 'For Sale' signs and things.


Feel free to disagree.
Click to expand...


Based upon an earlier post of yours Stan, I guess you would know about people stopping for donuts and stuff to & fro work, huh ??

Seriously though.... are you serious ??

35k cars go by any given billboard a day and some get 50k passer-bys..... and the store isn't even located at the base of the billboard. Does that stop people from advertising ?? Don't you believe in the very thing you claim to do for a living ??

Foot traffic, automobiles or trains.... as long as someone sees the signs, movement in the place and whatnot in that store, it will always register in the back of their minds should they put the donut down and get that sign they need to sell the exercise equipment they're too fat to use.

I swear, you just think of the most outlandish opposite point of view and just write down in a hurry what you consider clever, which is usually almost sounding like you've been out on the boat too long and got drunk waiting for a nibble and decided to tell us something about your day.

So, what was the catch of the day ?? Didn't you say you wee going out 120 miles ?? What would happen if you lost your way and ended up in paradise ?? Would you stay there ?? Please ?? :Big Laugh
 
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TCBinaflash

New Member
I view the storefront as billboard advertising. Thru networking if they use my business name to friends,colleagues, clients. They have to see my shop at some point and connect the dots.
 
P

player

New Member
I would compare the costs of 2 business models.

1- The storefront, with staff to man it, rent, heat, hydro, insurance, taxes etc.

2- Work on your own out of your house and garage, with no staff, rent and heat etc.

I would lean towards #2. Just get sales, farm the orders out, and keep the overhead low.
If it costs 10K per month to run a commercial/retail style shop, you have to do 12-20K a month just to break even, before you get paid a cent.
 
T

TCBinaflash

New Member
And of course my best client just got word that I left the biz and refuses to send work to my old partner.

$200k worth of work just fell in my lap.

What a roller coaster.
 
Gino

Gino

Premium Subscriber
TCBinaflash said:
And of course my best client just got word that I left the biz and refuses to send work to my old partner.

$200k worth of work just fell in my lap.

What a roller coaster.
Click to expand...


I just love happy endings................




Go play in a busy street, Stan. :smile:
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