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Starting a high-end audio shop... Am I crazy?

In my mid 40's reaching that mid-life crisis, which is not a myth. Many of my friends are leaving good jobs to start all kinds of wacky businesses. I am actually thinking of giving up a $120,000 yr job and starting a high-end audio retail biz - both online and hopefully later on a brick & mortar store. Have 20 years experience in sales and marketing, and/or design of software, electronics, multimedia, video and financial products including a few years in music retail and production.

Who can share their experience, or advice? Is the markup, distribution, etc of high end electronics similar to that of regular electronics? Any sources of info or pointers, tips, horror stories etc are appreciated.
gdoodle
mtandrews
43 posts
 
I'd say yes, you are crazy! But I would go for it. Lifes and adventure.
aolmrd1241
1,010 posts
 
gdoodle, i wish you the best in your noble endeavor to strive for such a cool objective>>>>>but>>>>> if you have to ask? good-luck (:>)
theo's avatar
theo
2,658 posts
 
A very good freind of mine in that is a dealer always says. "the way to make a million dollars in the audio business is to start out with 2 million". But he is still in it and doing well. One thing he recentley did is buy a new house and is running the business out of his home. It seems to work out great. When it is slow he is at home and can do yard work, house work, etc. Also the lower overhead and he never forgets to bring an item to work with him.
Let us know how you do. Good Luck!
kublakhan
717 posts
 
curious...where are you located?

and even if you ARE crazy...you shouldn't let that stop you. Neither should you let sanity stop you from reaching for your dreams.
rec
327 posts
 
My best advice is to keep your day job, at least at first. As a life long music lover I became a partner in an independent record store. Started out with three stores and ended up with barely one. Learned a lot, met a lot of great people, collected a lot of vinyl and cds and loss over 90% of my investment not counting no income from the store for years. Sometimes it's not a good idea to mix your hobby(passion) with your livelihood.
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