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I am looking for any ideas, suggestions, or anything other info anyone can give me on starting a new stereo shop. How hard is it to fill out the small business loan? What extra expenses to expect?
-------------------- Simplicity is best! redlineaudio.com Posts: 64 | From: Sidney | Registered: Aug 2005
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I've been wondering why more shops don't get with car dealers. I know a lot more people would have custom installs if they could just add it on to the car instead of it being a seperate cost. How many people blinging out escalades wouldn't just opt to have some TV's and isht added in so they could bling some mo? Or ricers could add some nice gear to their car...I know I would have done it if it were an option.
Posts: 3280 | From: North Little Rock, Arkansas | Registered: Apr 2003
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A shop in my area tried it, until they found that the banks wouldn't give the loans to add the stereo to the cost of the car. They still do both but not together.
-------------------- Team T3Audio Team Cactus Sounds 2008 - Second in N. America 2009 - N. American Champion http://www.myspace.com/getlouddesigns Posts: 1272 | From: StreetMaxville, NY | Registered: Jul 2002
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If you are serious about starting a shop you should first have some experience installing and/or selling stereos. I would suggest setting up some space in your house and start to stockpile things like racks and display pieces. This way you have less immediate expense when you first open.
-------------------- Team T3Audio Team Cactus Sounds 2008 - Second in N. America 2009 - N. American Champion http://www.myspace.com/getlouddesigns Posts: 1272 | From: StreetMaxville, NY | Registered: Jul 2002
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I use to work in a stereo shop for about 4 1/2 years and my boss was pretty cool about showing me how most things work as far as business. I guess I'm looking for any ideas on what a guy might need other then the obvious. Like tools, a computer, install kits, wire, car audio, stereo switch board, power supply, but I'm sure I'm missing something.
-------------------- Simplicity is best! redlineaudio.com Posts: 64 | From: Sidney | Registered: Aug 2005
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I would take some sales training courses if you never have before. One important thing about a business is that you are in the business to SELL audio equipment/services...if you just like installing or some other aspect of it you might as well just go work for someone else who owns one. Just my 2 cents!
-------------------- Roffles... Posts: 444 | From: Atl, GA | Registered: Oct 2003
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The biggest problem you are going to have is moving merchandise, you will have get lots of install and custom work. 75% of the general public buys on line and you can not sell merch out of a storefront at online prices. The overhead will kill you! A lot of internet sellers do it out of their basement, you'll have expenses like insurance, rent, gas, electric, inventory, displays, property care, snow removal, lawn care, windows cleaned, workmans comp for employees, alarm system, inventory loss from theft, unexpected problems, phones lines, credit card terminal, you have to be very nice all customers, and just hope they don't go on ebay and find the same product you sell at 60% of the price and want to bring it back. Your best bet is to try to sell Memphis or Eclipse, they both do the best at preventing a lot of internet sales. But be prepared for a big buy in and a yearly minimum . Example Kicker L7 12 sells on Ebay for 209 + shipping, youll probably pay 195-205 for that same sub, are you prepared to make 4-14 dollars on that sub, and pay an employee to sell it. Just some things to think about. good luck!
Posts: 42 | From: Toledo, Ohio | Registered: Jul 2003
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I understand all that, Crossfire will probably be my main line and they try to protect their dealers also. I have gone through some sales training, and have read anything I could on the subject as the info came to the store I worked at. You all bring up good points, keep em coming please.
-------------------- Simplicity is best! redlineaudio.com Posts: 64 | From: Sidney | Registered: Aug 2005
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Don't forget advertising, If I remember correctly that should be a major part of your budget 30%+
-------------------- 09 World Finals Judge - Tulsa 08 World Finals Judge - Laughlin 07 World Finals Judge - San Mateo Team Treo www.myspace.com/boominaudio Posts: 3638 | From: Shows from 909 to 208 | Registered: Jan 2003
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