mall rent will kick your ass.
Good idea because there really isn't any mainstream lighting store. Yes, I know, there are a few big lighting showrooms in the area but they are far from mainstream. Ask anyone where to buy a light fixture and they will say Home Depot...not one of the showrooms.
So I think you could be successful, especially in a popular location.
However, being in the electrical industry, you know how many people are involved with getting lighting to the end user. You buy from distributors, they in turn buy from Lighting reps. And the reps buy from the manufacture. That is true for darn near all manufactures including the big four Cooper, Lithonia, Philips and Hubbell (and many of the more residential brands too).
So being a store you would serve as the distributor so you could cut that middleman out but you would still have to get support from and buy from the reps...a middleman most other types of products don't have to deal with.
So, all that said, I think it is a reasonable business idea just consider the complicated supply chain that the big lighting manufactures require. You could find manufactures to sell that don't use that supply chain but you might be limited.
I'll also add that you will want to sell products that don't require an electrician so joe off the street would feel comfortable buying from you. That is of course in addition to the bigger stuff that could keep your electricians busy.
If you do chose to have a consultant/designer like someone previously mentioned, you are in a good place. Up until very recently CU was one of only a small handful of universities that one could get an engineering degree in LIGHTING.
I don't think this is the best timing for a high end lighting store.
The ones up in NOCO are doing ok, not great, but keeping the "lights" on. Easy way to tell if there is a need, see if the ones in the metro area are hiring. The reply will give you an idea if this is the right time to start a business. If O stays in, you will be closing within the year. if it's romney, maybe 1-2 good years.
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"when you're happy you enjoy the melody but, when you're broken you understand the lyrics".
I would personally consider catering to commercial stuff instead of JoeTBlow off the street.
Maybe it will be more gratifying to sell some soccer mom on track lighting in her kitchen; but selling 2,000 fixtures to a Marriott all at once will make you forget the soccer mom in short order.
"There are no finger prints under water."