Hey everyone. I need your opinion on my plan to set up a shop. Currently I only set up a booth on weekends and the rental is RM800 for 8 days. My gross profit would be around RM1500 to RM2000 a month. I just started this business for like few months and the respond is superb. Alot of my customers ask me either i have a shop but too bad, i dont have any. I got alot of stocks in hand but I cant bring all every week. Its a waste right? I went to Cineleisure, Damansara and they quote me a price of RM2500-RM3500 per month depends on the location and sqf. excluding service charge, etc etc. Its sort of a small shot lot but thats not the point. Anyway, lets just say rental + electricity + service charge + etc etc is RM 5000 per mth. That means one day I should sell at least RM170 gross. Im not sure either I can do this or not. What do u guys think? Do I need a better location?

Anyway, let say if I want to open up a shop. I need to pay an upfront deposit of 3 mth rental, renovation fee, etc etc fee. Is RM50k enough excluding stocks? Not a fancy shop. Simple and nice shop will do =).

Thank you =)

RM50k should be enough for a simple renovation + furnitures....wat r u selling anyways??



Good Luck....

Im selling tshirts, belts and maybe some caps...Some of my shirts can be found at www.threadless.com ...Actually, I wanted to do something like one of the shop in BB plaza, Studio 70's.

This post has been edited by ChocolateChipCookies: Oct 30 2006, 12:47 AM

if you are earning 5k a month gross and your expenses is 5k. what are you eating than?

Im saying "at least". "at least" here means to cover the cost for one day. If i were to make more than that, now thats my profit, of course i have to cover my capital before i consider it as my profit.

*cheers*

honestly told you... you should do so anylysis about that location...
like as what u mention..the gross rental /day is rm170...
then you should make some calculation whether you can do business profit arnd rm180-250/day for weekday or else at least orarnd rm400 for weekend...

or else..i tink no point you try that business...end up..u dint make profit at all...and the last..the shopping centre management make the profit from your rental only...

alhough 50k is enough for renovation n rental...but you also must be prepare extra money for at least 3mths rental..incase bad business...anyting can happen...
do some survey and analysis 1st...!

Thanks. But i seriously think Cineleisure will be hot pretty soon. But on the other hand, The Curve has been there for almost 3 years but i dont see much shops in it. Im still considering =)

i think better continue what u do now....no need so fast to open shop...as your business still not so big...

when your business big enough then only think

True also. Because im doing this as a part time only. Well I guess im gonna wait for a year or two before I can set up a shop. That would be better right?

Hey, in the meantime look for some other shops who are willing to distribute some of your stuff also. So u can earn "atas angin" a bit la. U can contact me if you wan.

But dun put the price too high la, a bit realistic that we, resellers also must earn ma

Hi,

1) Whatever you do, keep your booth. Your current booth's location is good and it is profitable. There is NO guarantee that any new shop lot location will be good and profitable.

2) Why not open more booths somewhere else??

Dreamer

hamster: I dont do consignment. But I do supply my product to some shop/vendors.

dreamer: True but dont you think that its a bit wasted if i have loads of stocks in my store and not display it all? I dont think i want to open anywhere else right now. I was thinking to open a small cart if not a shop ( like in MV,OU,KLCC, the small small cart). Do you think its possible to sell a shirt using a cart?

i think if u open a shop with that kind of design of shirt..i think alot of teenagers will buy it,definately.

well from my exprenice and my thinking and been talking to othres. The Curve are more toward to the higher class type as many of them say usaully weekdays hardly find much people. for them to grow the traffic is pretty hard more to say the Cineleisure is even worse but need long time to build up.

if you want high traffic even thrw a stone will hit get in this 3 place KLCC,MV, and 1U. this 3 place what you sell it will be sell perfectly.

KLCC cookies and chocolate for example thier sale per day is more then RM8k a day. MV depend on the location trafic selling girl thing could sale up to RM4-5k. 1U are the people more afford to spend there.

there is no point to stock up stocks. the least the stock but sufficent will be good enough if not over stock and over head to high you will get into troble.well for each of it one on the cart will be sufficent.a trick for consumer eye "too many spoilt the eye of the consumer" when the consumer see to many and like too many they get confuse they make thinking to long and they wil forget about it.

this is what i think only is depend on you what you think now.

This post has been edited by tkwfriend: Nov 1 2006, 09:12 AM

man what an English..what an English...i nearly lost mine after reading this...hehe

sorry lah i dun have a good englash but just trying my best.

Here's my opinion :

1) Rent a cheap small stall in the concourse floor of KLCC
Reason: Cheaper than you rent a shop lot, besides the concourse floor is the most crowded with tourist, shoppers during afternoon time.

2)Make a simple page in websites selling your products. Like in LOWYAT here, go to the garage sales forum. It should at least increase your gross profit a bit. The more you promote your product, the more chance of increasing sales u will get.

Did this both and good luck to you. Hope it will helps.

shop in klcc is around 8k and above one wor

That is right. The kiosk in KLCC is not cheap. Besides that, you will need to open everyday. Do you have the manpower for it since you mention that you are doing part time?

There are differences between weekdays & weekends sales. The Weld makes more money on weekdays as there are plenty of white collars visitors going for lunchy there. Most shopping malls make money on weekends and public holidays.

Not all shopping malls are the same, as they have their own target market. Even though, the floors you have chosen may have impacts on your daily sales. And your nextdoor neighbour also makes a big difference to you. It's recommended to go for site survey on different time of the days to see the visitor crowds. Not only that, you have to analyze the purchasing power of the visitors too.

Apart from looking at the initial cost, if you are looking into long-term rental, shopping malls management required some upgrading (ie renovation) every 5 years. And there are a lot of "hidden" charges. Sometimes, tenants are bind to join their sales carnival or any project execute by mall management. Be sure to check with the management about all this rules & regulations.

Pricing wise... you have good sales record for the past months as your operating cost is pretty low. But can you cover your operating cost by maintaining the same selling price with higher operating cost (now you have to pay electricity, partimers/helpers, management fees, etc etc) ? Plus, you'll need to have a wide range of variety goods to display.

Sellling by kiosk required the least marketing skills. But opening up a shop have to figure out, how to make visitors to enter your shop. Hmm, money again!

Do consider to start a second kiosk at other location, as it seems to be more promising. Just get a helper and do stock count b4 and after biz hour to ensure no pilferage. With good commission scheme for your employee, they'll sure help you sell more than enough!

Good luck!