I've been thinking

Keight

Keight

Well-Known Member
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OTz Original Well Known 15 Year Club
Yeah scary huh?

Before i start if this is in the wrong place please move i wasnt sure where to put it..... anyhoooos

Ive been here in Eden now for a little over a month and when i first got here i found the place to be very quiet compared to what im used to, after getting the kids into school etc and looking for a job i found that the job prospects around here arent that of what i thought. kinda put me down a bit.

Anyhoos ive been walking around the last few days and have noticed a few places for sale as owners have decided to move on elsewhere and was thinking of perhaps Buying a business here, Although i guess the part im worried about is i have no idea where to start and although there are a few places in Eden for sale business wise im not sure what i should get myself into, Im waiting on the sale of a house i had along with my ex and when it settles i would like to do something wise with the money....

There are two business's in Eden that spark my interest one is a cafe, which serves chips fish chicken etc something i know how to do as i was trained straight from school to do this, the other is a music shop that sells all kinds of musical instruments cds memorobilia etc, and i LOVE music.

The pricing slightly differs and one brings in alot more than the other but the potential of the lesser earner is amazing, i dunno i guess im throwing this out there to see if any of you have any ideas on what i should do or advise on what it is i should look for if i do indeed go ahead with it all.

Oh btw kudos if you read the whole thing that was quite and effort even for me to type lol
 
Marketing is the best way of going about setting up any business.

As it isn't a personal venture, but that of strictly business, then always best to go with what is likely to be what ppl want, over the thing you would personally like to be doing - i.e, if you prefer the music route, is it really what is wanted generally there? Marketing/research will be able to give more insight on this.

Get a feel for what ppl are saying they would like to see.

Or, if the property's a good size, could you combine the two?

Whilst they are browsing the CD's etc, they will smell food, making them feel hungry and then think to eat there too. :D ;)
 
dlm

demographics
location
marketing

they go hand in hand in hand, or possibly a threesome, but anyways:

the demographics (research) is the major telltale sign on if the venture is going to be profitable from a potential customers from a specific age/income level/race(unfortunately a statistic)/other type of consideration.

the location, of course, is very important, as that is where most of your customers will be going. is the business in the heart of things? yes - expect to pay a little for location here; no - is there enough customer base (demographics) to support the business? yes - good; no -

the marketing is where you expand your customer base, possibly into another demographic. age might trend toward teenagers, but if you implement a marketing strategy, maybe you can bring in more 20-29 year old customers. or more rich people, or more individuals from the hispanic community. who knows, it is marketing.
 
Ria said:
Marketing is the best way of going about setting up any business.

As it isn't a personal venture, but that of strictly business, then always best to go with what is likely to be what ppl want, over the thing you would personally like to be doing - i.e, if you prefer the music route, is it really what is wanted generally there? Marketing/research will be able to give more insight on this.

Get a feel for what ppl are saying they would like to see.

Or, if the property's a good size, could you combine the two?

Whilst they are browsing the CD's etc, they will smell food, making them feel hungry and then think to eat there too. :D ;)
Click to expand...

Combining the two wouldnt work well although i see potential for making an internet sort of cafe in the back end of the music shop, there is no place around here and alot of teen kids that i think will benifit from it.
Its not very well run at the moment hence the reason i think the business isnt awesome for them, they stock only one genre of music and thats their downfall.

ssl said:
dlm

demographics
location
marketing

they go hand in hand in hand, or possibly a threesome, but anyways:

the demographics (research) is the major telltale sign on if the venture is going to be profitable from a potential customers from a specific age/income level/race(unfortunately a statistic)/other type of consideration.

the location, of course, is very important, as that is where most of your customers will be going. is the business in the heart of things? yes - expect to pay a little for location here; no - is there enough customer base (demographics) to support the business? yes - good; no -

the marketing is where you expand your customer base, possibly into another demographic. age might trend toward teenagers, but if you implement a marketing strategy, maybe you can bring in more 20-29 year old customers. or more rich people, or more individuals from the hispanic community. who knows, it is marketing.
Click to expand...

the location is in the main street for both places, the music shop is smack bang in the middle of main whereas the fish and chip shop is down the far end, the only down side with the fish and chip place is there are ALOT of them in Eden thats the thing thats putting me off to offer them something they dont or cant already get at any of the 10 other places.

Rich people COme through alot of the time on holidays as do alot of the older retired people, the town is made of a wide range of ages but teens ive seen need to travel at least 45 minutes to get music they like or have any sort of social life.
the cost of both of them isnt that different and i see alot more potential in one than the other i guess i might have to do a walk around talk to some people teens etc see what happens.
i dunno i just cant get it out of my head lol
 
I think it is awesome that you would consider owning a business. I would love that. I just cannot afford it!

It sounds like that the music business has better prospects, considering the traffic and location.
 
Sure will see this is what i was thinking, set up an internet cafe in the back of the shop but also perhaps help out local bands and have one specific computer for imported music and places for local bands to advertise themself via the website set up.... i dunno it all sounds freaky right now but i think its something i can pull off.
 
Keight said:
Sure will see this is what i was thinking, set up an internet cafe in the back of the shop but also perhaps help out local bands and have one specific computer for imported music and places for local bands to advertise themself via the website set up.... i dunno it all sounds freaky right now but i think its something i can pull off.
Click to expand...

Yeah, sounding good Kate, some good ideas there and a variety is good.

Have a think of fees for websites for customers (bands as you mentioned) etc, then you when you draft it on paper, it'll start to look better and more possible - research your outlay costs/overheads (as approx costs) for some insight.

It will maybe get you more excited about it by getting out and about getting the info you will need etc - will be your own adventure and soemthing you will have built.

You go girl - can't do any harm looking into things anyway. :)
 
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