Looking into opening a retail store

[paul_pettifor]

Hi, Im looking for some advice / doing some research. I have been selling collectable's for over 3 years now online and at toy fairs. I am looking into opening a retail store in about a year and want to do as much research as possible before committing to anything.

Therefore as most people on here would be my target audience, I was wondering if anyone would be kind enough to offer their opinions on the following:

• What would you want products & service wise from a collector's shop?
• What's good and bad about existing stores that you would do or improve upon?
• What would make you travel to come to a store? (Looking to be based in Long Eaton, Nottingham (if funding high enough would go to either Nottingham or Derby city centre).
• What's missing from current stores you want to see?

Then there's the funding options, the main reason for this "market research" is to put together a solid business plan to take to a bank. However, I have also thought about the crowdfunding/kickstarter options, if I was to go down this route, what sort of rewards for investment do you think would entice investors or make yourself consider investing? Example £50 investment to give 10% discount on first order or £100 gives 10% discount for 3 months etc.

Any advice would be greatly appreciated.

 

[SAVORY100]

What would I want (not exhaustive list):

• GW Acrylic in a retail format... the ability to purchase a MOC (or figure) on eBay/from a shop such as yours and then buy a single case without having to buy multiples to get discount or of course pay for shipping would be a great draw.. cost dependent. As a retailer, buying in large volumes to secure the better discounts and then passing these onto you customers rather than making additional profit would be seen in a good light too.
  
  Wide range of vintage items (licence properties)
  
  Wide range of price points, entry price points that really are at entry level is key to make the bread and butter
  
  A clear NO REPRO message across the store
  
  Sensible pricing generally, eBay (with shipping) or even higher prices are not going to be attractive, you may as well sit at home buying them
  
  Oddball items, so often overlooked
  
  Get clever in your marketing, pin badges and T-shirts that share your logo (or if you can partner up), your partners logos that are also very cool items to own, look through the Celebration collecting track/swag trade items and talk to the folk that created their own merch, its not that surprising that real fans make better, more meaningful and more memorable stuff than Hasbro...

 

[paul_pettifor]

Hi thanks for the advice, much appreciated. I will definitely be taking it on board and glad to see moat of what I normally aim for is inline with this. My main selling point has always been and also with a previous business has been only selling genuine products and being cheaper than my competitors. As I've found shop prices tend to be alot higher than ebay/toy fair prices. I intend to keep my prices as low as they are now and aim to cover operating costs by selling in more volume than raising prices as I believe that will keep customers coming back. Thanks again.

 

[scott82]

Id say being able to pick up spares for figures is always good, (weapons,clothing,accessories) not many shops sell the small things for any toy line so being able to see if your "local store" has them would be great...... obviously not repro's though.

 

[paul_pettifor]

Completely agree, thanks for the input