©ALL CONTENT OF THIS WEBSITE IS COPYRIGHTED AND CANNOT BE REPRODUCED WITHOUT THE ADMINISTRATORS CONSENT 2003-2020



Does anyone here run their own business?

tyler58

Registered User
Sep 1, 2013
61
0
0
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.
 

formula1069

Donating Member
Oct 29, 2012
706
1
18
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
 

Magnus82

Banned
Oct 29, 2012
4,827
0
0
Out in the boondocks
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!
 

tyler58

Registered User
Sep 1, 2013
61
0
0
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
 

tyler58

Registered User
Sep 1, 2013
61
0
0
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.
 

tyler58

Registered User
Sep 1, 2013
61
0
0
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.
 

thebrick

Super Moderator - RIP
Oct 28, 2012
2,513
0
0
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.
 

BigBob

AnaSCI VET / Donating Member
Nov 10, 2012
2,912
0
36
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.
 

OMAR

Registered User
Dec 9, 2012
37
0
6
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.
 

chicken_hawk

AnaSCI VIP
Feb 2, 2013
1,634
0
0
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
 

tyler58

Registered User
Sep 1, 2013
61
0
0
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
 

Ironbuilt

Banned
Nov 11, 2012
8,353
0
0
Mûnich , Germany
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" ???
 

Enigmatic707

AnaSCI VET
Feb 7, 2013
2,752
0
36
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.
 

Ironbuilt

Banned
Nov 11, 2012
8,353
0
0
Mûnich , Germany
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