Very interesting thread, the responses say a lot about the state of street level retail.
To contribute, I’ll flip your questions around:
I don’t buy anything other than food/coffee and occasionally clothing (mainly expensive or non-basic items - happens two, three times a year) locally. I tried to buy my music gear from a shop locally for a while, but their prices are way over the going online rates and the service, staff or customer experience is nowhere near on a level that would make me want to shell out that extra to support them.
I had a small space in Berlin and we turned that into a co-working space. Contrary to popular belief, the margins on that are not great at all. Now we have a much bigger space and use it as an event space & workshop/seminar location. In general, spaces to meet and connect for real and experiment and learn are what’s badly needed in my book.
I’d like to add that I am happy for you and your decision, you’ll have a valuable journey ahead of you no matter what you choose to do
tickets to local shows/events/talks
wifi + copy/print services… just the basics
coffee (utilitarian coffee/espresso - no flavorings just cream and sugar/sweeteners)
local music (cassette CD vinyl)
tourist information/day trip connections/niche stuff/maps to record stores/synth shops/fringe stuff
used books
phone chargers/cables
audio cables and adaptors/midi cables/USB cables/thumb drives
If we’re talking audio, then I’d suggest gear rental for stuff that’s too expensive to justify purchasing (market that to the home recording aficionados that have abandoned traditional recording studios). Had to do a business plan in college a while back and it seemed like one of the few things that could compete with the bigger players in the industry. Insurance might be an issue though.
If not audio, then I have no idea. Personally I try to avoid spending money despite being single with no dependents - although there was a gaming lounge/bar that opened up in my own city that seems to be doing a roaring trade. VR gaming places seem to be doing quite well too, although time will tell.
Whatever you do, make sure you do some sort of SWOT analysis before sinking money into it. I’ve seen a lot of seemingly great ideas fold within 6 months because they weren’t realistic about how they might fit into the market.
gear rental can work but you need a good blanket insurance policy and some way to vet your customers. we rented various things at modular8 for a while. for studio use only. no gigs.
there’s a company in town that rents for local gigs. lot’s of touring bands etc end up getting gear through them via the venue/rider for their gig.
the outlay of capital for getting gear to rent is significant though… especially if you’re going to rent pro audio stuff.
also worth possibly sharing space w/other businesses where there’s overlap. record store that has a small book store/coffee shop and used/vintage/small selection of new music gear… places that seem to make sense to be in the same place… those kinds of things can do well sometimes if carefully set up and you have good foot traffic.
Yah, that bit could be a wee bit tricky. The plan I’d come up with for potential customers was to treat it like a car rental - with some sort of deposit and/or credit card on file. There were a few insurance companies that said yes when I talked to them so it was definitely doable from that angle.
Was considering applying for a business loan, starting out small and funneling profits back into the business. Budget projections for all this looked pretty good (but ultimately decided to go back to uni and do something else).
All I would add is that opening a retail store takes a lot of time and energy, and everything in there needs be making you loads of money to make up for it
Nah, does not have to. We are already fine without having another business.
Just trying out different journeys. Same same year in year out is too boring for our family
Edit:
It’s more a purpose thing than a money thing. Having fresh experiences in general refuels energy levels significantly, stagnation is what makes us tired and could lead to depression, fear of the unknown, … .
I don’t want to have any regrets when I am in life’s after hours.
I am also completely into a zero waste shop/store. At least as minimal as possible.
The place is not that big, quite small actually but high. Residential with many young families, not a place to have a venue or loud whatever. My own loud years are also way behind me already
That is an interesting fact, I thought about it before. Off course time is limited, so one purpose after the other but always with all eyes wide open.
I am also totally into a mixed business vibe!
I like to join something like that myself. To open shop: I am too noob myself. Maybe that could be a second purpose thing later on in the journey though.
Yes, I have online business experience, but this is not what I want to do with this little space, could also be another purpose thing but to be honest I have had en still have enough online time to last for the end of my days
Thanks, it’s give and take. I will look for the doc!
Thanks for that reminder!
I said to my wife: I will have to have revenue from day one so there will be coffee
Yes repair coffee works in Belgium ( I am Belgian ) But this is something beyond my own skill and I don’t see this happening in our neighbourhood here in Berlin. I researched a bit and there are some, will look into it more. Maybe also another purpose thing.
Thanks a lot for the feedback, as I wrote before my own online/offline buying pattern is the same as yours
A used books section (besides coffee and monster trucks) I also like a lot too, of course it all has to fit into a sort of concept in the end. Thanks for the input.
Yes, solid advice. I have the feeling the demographic I am in will be difficult to cater for. The new businesses that open in the close area are all food oriented btw.
I know already what not to do to avoid clashing with the market reach of Amazon, Zalando and Thomann, to name a few …
yes but take the time to do things … Have your project followed by people involved in this type of musical activity: flyer in public places and music stores.And if it does not interest them there will always be Passing musicians who will be happy to come play or try with you, which will remain true.
stay yourself with goal
if the place is too small you can ask to build in front of the entrance, a mobile structure for more space and expand your business activity
Think about that <
I thought about doing this when I was younger; would have been dependent on city; as you want to ensure that the market is there; so Berlin is fine.
New hardware.
Secondhand / on-consignment hardware.
Rental
Repairs
I would also have a “shared” space; that could be used as a studio space (with the ability to use gear from the store); use it as a training academy; presentation / demo’s etc.
