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Go Back Ā  Anabolic Steroids Discussion and Bodybuilding Forum > Off Topic Discussion > General Off Topic Discussion

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  • 4 Post By formula1069
  • 1 Post By Magnus82
  • 1 Post By thebrick
  • 1 Post By OMAR
  • 2 Post By chicken_hawk
  • 3 Post By Ironbuilt
  • 1 Post By jacked391
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Does anyone here run their own business?
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Does anyone here run their own business? - 10-07-2013, 09:13 AM

Been thinking of a supplement store in the city I live in due to the demand from college students.

It would be more focused on true supplements (not like gnc), power lifting, and nutrition guidance.

Just wondering what tips or ideas you all would suggest on starting a business.i took some business classes in college, but would rather want a VERY good idea what to expect.
   
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10-07-2013, 11:26 AM

Expect to not make any money for a long time
Work more hours than you ever have
Lots of Headaches
Good luck with Local goverment and zoning , etc.
And lots of other stuff
Knowing what i know now after 15 years in business for my self , I would not start one today, The cards are stacked against you no matter what business you may try

On your idea, my 2 biggest concern would be trying to compete with the interenet, you can't
And the fact that college kids don't have any money at least most of them
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10-07-2013, 12:42 PM

I also run my own business. You can expect to go from working 9 to 5, to 5 to 9! Employees suck and you need a very large amount of capital for emergencies. Where I live, brick and mortar supplement stores still do very well, so it is demographically dependent. Definitely consider internet sales and possibly forum sponsoring (like anasci!) I believe if you put the same passion as you do into bodybuilding, you could be successful. You have got to want it but expect alot of work! Remember many failed businesses were not a result of lack of income, but poor management. That being said, I would not give it up for anything. Just like bodybuilding, it take a tremendous amount of effort, commitment,and passion. Good luck, and if you have any questions, please ask, cause I've been through damn near everything!
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10-07-2013, 12:58 PM

Quote:
Originally Posted by formula1069 View Post
Expect to not make any money for a long time
Work more hours than you ever have
Lots of Headaches
Good luck with Local goverment and zoning , etc.
And lots of other stuff
Knowing what i know now after 15 years in business for my self , I would not start one today, The cards are stacked against you no matter what business you may try

On your idea, my 2 biggest concern would be trying to compete with the interenet, you can't
And the fact that college kids don't have any money at least most of them
Thanks brother for all the honesty!

The Internet does have me concerned as well
   
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10-07-2013, 01:00 PM

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Originally Posted by Magnus82 View Post
I also run my own business. You can expect to go from working 9 to 5, to 5 to 9! Employees suck and you need a very large amount of capital for emergencies. Where I live, brick and mortar supplement stores still do very well, so it is demographically dependent. Definitely consider internet sales and possibly forum sponsoring (like anasci!) I believe if you put the same passion as you do into bodybuilding, you could be successful. You have got to want it but expect alot of work! Remember many failed businesses were not a result of lack of income, but poor management. That being said, I would not give it up for anything. Just like bodybuilding, it take a tremendous amount of effort, commitment,and passion. Good luck, and if you have any questions, please ask, cause I've been through damn near everything!
Thanks you for the response. I think it could be done, but with the exact same drive you explained.

I'm only 22 and want more out of life than a majority of my generation. I have been trying to thinks of ways to do something I would love an could be successful at with hard work and determination.
   
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10-07-2013, 01:03 PM

When you both started did you 2 have to come up with a mission statement, future progression, and prime objective to gain financial backing? That's a very vague description from what I have learned which is only the basics.
   
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10-07-2013, 04:18 PM

If you want to do this, do it because you love it because you will be living and breathing this business 24/7. Start as small as you can and build clients then grow, stay as debt free as you can and when you have employees expect another layer of headaches, taxes and responsibility.
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10-07-2013, 05:59 PM

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Originally Posted by thebrick View Post
If you want to do this, do it because you love it because you will be living and breathing this business 24/7. Start as small as you can and build clients then grow, stay as debt free as you can and when you have employees expect another layer of headaches, taxes and responsibility.
Great Advice Brick. Start small and work. In. But most important you have to have a passion for it.
   
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10-07-2013, 07:27 PM

My advice: retail is dead. Amazon with prime shipping beats prIce and selectIon over everybody in town, and I no longer have to fight traffic. 90% of all my shopping is now on line and im an old fart.

Kids today will shop this way a lot more than I do.

There may be some nisch markets where retail will win, but that is shrinking steadidly.
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10-07-2013, 09:49 PM

I am only going to be redundant, but I have thought about the same thing in my town. I currently own a remodeling bizz know and think there is a market in my town for a comprehensive supplement store like your thinking.

I have watched as an over priced shop went from one shop to three in five years on their own label of garbage. Dude is a millionare selling mega this and andro that...which just leads to diarrhea. So, that leads to believe that a legitamate store would do well...heck people don't want to wait or by wrist wraps on line if they can have it today and know it fits.

Just my 2cc's
Hawk
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10-08-2013, 08:29 AM

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Originally Posted by chicken_hawk View Post
I am only going to be redundant, but I have thought about the same thing in my town. I currently own a remodeling bizz know and think there is a market in my town for a comprehensive supplement store like your thinking.

I have watched as an over priced shop went from one shop to three in five years on their own label of garbage. Dude is a millionare selling mega this and andro that...which just leads to diarrhea. So, that leads to believe that a legitamate store would do well...heck people don't want to wait or by wrist wraps on line if they can have it today and know it fits.

Just my 2cc's
Hawk
I feel the same!

I like the 2cc's hahahaha
   
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10-09-2013, 02:49 AM

It all depends on city you live , population of middle aged people ,the amount of fitness activity in town ,and im not talking horse riding..And u need startup capitol that has one year or more of a blanket for you earning 3$ an hour for 75 hours a week+..

My advice..keep your day job get a college degree for audioligist.That way u can make a killing on todays ear budd wearers whos i phone deaf by 16.. is that why kids say " holla" ???
   
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10-10-2013, 05:17 PM

It's funny-

I've have started and done extremely well opening up two businesses.

There are a variety of things to look at

-demographics, what's your potential customer base within a five mile radius.

Industry, how competitive is the given industry, how many other locations are within your geographic area and how well established are they. Also exclusivity inclusions to what retailers can sell what products within a given area.

-Start up cost... What are the first order minimums with the distributors you will need to stock your store. Physical location requirements, such as retail space and shelving and branding

I have started two retail stores and did amazing well.. BUT!!! I was also a niche industry who also had extremely well developed contacts and a pre existing customer base. I was able to get a few credit cards and with "no payment for 90 days" and stock my store and pay off the cards within 60 days... Essentially it cost me nothing more than the lease on the location,which for me didn't have to be in a high traffic retail area (low cost industrial) most retail stores need to be in a highly visible area which drives your cost way up.
   
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10-11-2013, 08:32 PM

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Originally Posted by Enigmatic707 View Post
It's funny-

I've have started and done extremely well opening up two businesses.

There are a variety of things to look at

-demographics, what's your potential customer base within a five mile radius.

Industry, how competitive is the given industry, how many other locations are within your geographic area and how well established are they. Also exclusivity inclusions to what retailers can sell what products within a given area.

-Start up cost... What are the first order minimums with the distributors you will need to stock your store. Physical location requirements, such as retail space and shelving and branding

I have started two retail stores and did amazing well.. BUT!!! I was also a niche industry who also had extremely well developed contacts and a pre existing customer base. I was able to get a few credit cards and with "no payment for 90 days" and stock my store and pay off the cards within 60 days... Essentially it cost me nothing more than the lease on the location,which for me didn't have to be in a high traffic retail area (low cost industrial) most retail stores need to be in a highly visible area which drives your cost way up.
↑ ↑ ↑
Enigmatic..aka..Donald juan Trump
   
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10-11-2013, 09:30 PM

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↑ ↑ ↑
Enigmatic..aka..Donald juan Trump
Lmao enig u gotta smack the yetti. Lol


   
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10-11-2013, 09:32 PM

My ass still hurt from him a bull yesterday damn jokers lol.
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10-12-2013, 04:18 AM

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Lmao enig u gotta smack the yetti. Lol
It's okay- he's like a small child... But old and ugly LoL
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10-16-2013, 03:30 AM

Thats derogatory.. fucker......lol..
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