Opening shop for the first time

Thanks for all the great advice guys! Sorry I was so late getting my reply in, i've been swamped as of late.

Well, I think I will explain my business a bit more.

Not being "as profitable as I had hoped" in my case means I am making a living, but barely. I'm certainly nowhere near a middle class income or lifestyle so far, however I am paying the bills and putting food on the table. On top of that, I have manage to shovel away a small chunk of money that could be used towards opening a shop.

That being said, I do understand that a shop will mean many more costs, and I would have to increase sales in order to cover those costs, and although I would expect to at least increase my sales with more visibility, I am not sure if it will be enough to cover the added expenses and show an increased profit. basically, I don't know if it will be worth my while, or extra work for nothing. I do believe that having a shop in my town will increase my potential "business" customers, as I believe that the only other shop in my town receives alot of the local businesses as customers, purely because of the fact that they are the only shop to go to at the moment.

I also know from experience an associate of mine who had a repair shop in town a couple years ago. He had customers lined up out the door, and not necessarily because of an air of professionalism, in fact, although he knew alot about PC repair, he knew little about maintaining a business, and basically lost his clients because he never showed up for work at his own shop. I really do think the customer base is out there for these reasons, and I feel I can make a shop work very well in my area.

I guess what I am is a bit apprehensive, and worried about hidden complications that might occur. Has anyone found after opening a shop that something took them completely by surprise? Was a certain utility much more then you expected? Did the class of customer increase or decrease? Was everyone knocking on your door at 9 am? or at 5 pm?

Thanks again for all the great feedback, I really don't think I would have done as well as i have without Technibble and all it's helpful members!
 
Marketing vs. Bricks & Mortar

I think you could improve your profitability by better marketing skills. I also think their should be someplace on this forum to sell products. That being said. Let me refer you to a website about marketing.

www.claudewhitacre.com

This guy has a lot of info about "small" retail marketing, creating "buzz." Hopefully, the administrators of technibble will add a forum where we can exchange commercial ideas. I am starting from scratch and I need, along with bootdisks, applications, etc. I do not know where to buy them or what to buy. But, because of this forum a lot of that knowledge has been covered here.
 
None to be precise. In the beginning (about 4 1/2 years ago) I marketed heavily from my first day (back) in business, I had a marketing plan and I stuck rigorously to it for about 18 months. By the end of that time I was so busy that I stopped marketing and every client I have gotten since has been either by referral from an existing customer or via BNI (of which I am no longer a member). Stopping marketing was a BIG mistake BTW, because now I'm stuck where I am with no pipeline of new customers and too busy maintaining to grow.

Also, €250K is not profit. I took home about €70k after taxes last year. This year's shaping up about the same. Most of of my turnover is sales of software and hardware. Only 1/3 is labour.
What was the marketing plan exactly, golden pages mix with local paper, flyers etc??
 
Close enough, not really at liberty to discuss specifics as they're covered by NDA.

With an name like Solas and using "Golden" Pages, you're a Paddy too. Whereabouts?
 
Clever boy, no flys on you.
Cork, went full time since may , part time for the last 4 years. i used to be a busy network admin in a college down here for the previous 6 years. i have a business partner he drives the van and fixes machines at his place and i man the phone and repair in my workshop. i find the summer is real slow. plenty of competition around as well. just wish i had more work. if you pm me your number i can give you a shout?
 
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