Business Idea. Gauging interest

[Sparky]

My little company is brainstorming and throwing a few ideas around. One thing considering is opening a store front. In say a mall or busy shopping area. The idea is to sell lighting with more and better options than say Home Depot. Maybe higher end stuff. Like for instance.

Chandeliers
Ceiling fans
Landscape lighting
Newer LED technology

My question is what you would look for in a lighting store? What type of products? What type of service. We would also be able to order any specialty items with maybe computerized catalogs.

Lots to think of still. Like what types of manufacturers would we stock? Do we do internet sales? What size of store to start? Getting distributorships and many others. This is a long way off from becoming reality.

P.S. We have licensed electricians available to help install your new fixtures.

[SideShow Bob]

There are already several "High end Lighting & fixture" stores in the Metro area, you may want to see what your competition is first.........

[Sparky]

I will crush them

[SideShow Bob]

I will crush them

You may, by making it convenient in a mall, most of the places I have seen require a dedicated trip...

[ChunkyMonkey]

I will crush them

How about online pricing? I hate retails ever since Al Gore invented the Internet

[argonstrom]

I might be interested in providing custom engraving.

[pickenup]

Billion dollar companies started with someone's.....idea.

That being said, renting store space costs a LOT. Are you clearing that kind of money? (rhetorical question)

Then there is advertising.
They CAN'T show, if they don't know. Good advertising can cost MORE than the rent.

You would have to carry items other than what Home Depot or Lowe's carries. Because they buy stock by the thousands, they can "retail" it out for less than YOU can buy it wholesale.

Supplying custom builders might be something you could to look into. I imagine that is a cut throat business.

Wouldn't even consider NOT selling on the internet.

Lighting isn't something people go shopping for every week, and in today's economy.........

[BPTactical]

Billion dollar companies started with someone's.....idea.
.

But according to the Pres, "you didn't build that"...........

I would gauge the need. Housing and disposable income is still depressed and nice lighting is usually an option rather than a need.

[DD977GM2]

Billion dollar companies started with someone's.....idea.

That being said, renting store space costs a LOT. Are you clearing that kind of money? (rhetorical question)

Then there is advertising.
They CAN'T show, if they don't know. Good advertising can cost MORE than the rent.

You would have to carry items other than what Home Depot or Lowe's carries. Because they buy stock by the thousands, they can "retail" it out for less than YOU can buy it wholesale.

Supplying custom builders might be something you could to look into. I imagine that is a cut throat business.

Wouldn't even consider NOT selling on the internet.

Lighting isn't something people go shopping for every week, and in today's economy.........

This right there will be the main hurdle to overcome. Also my Father In Law was in the lgihting business for the last 15-20 years until last year.
He barely made it even with his corporate accounts. He sold to major companies etc
and still could barely break even. IDK the ins and out of his advertising and business plan, but he was successful for himself up until the economy took a shit then he was doing crap just to get stuff sold abd barely make a profit if at all.

[ronaldrwl]

The problem with any business is it takes time for people to change their buying habits. And you need enough money to float the business until the sales get to break even. You'll have to change the buying habits of your prospective customers from 'home improvement' stores to your store. A mall gives you a lot of foot traffic and that's good but you'll pay for it.
I hope it works out well for you.