Congrats and good luck! Ditto to what Claudette said :)
LOL! I am in a tiny town called El Paso IL. My shop is Edie's Beads and Gifts and it is on the main shopping drag at 27 E. Front St. We are a small store front but we hope to GROW! :):):)
Congrats! That's great news. :)
Welcome to the wild, wonderful and wacky world of LBS ownership! Hope your first day went without a hitch!
Best wishes for your enterprise, Edie. I hope you find it all you wished it to be.
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I loved your earlier post about the flea markets. I would love to speak with you or read your thoughts on the pros and cons of the flea markets. Is it still a viable market? do you think the world of flea markets is different today then when you opened your first booth? ie: ebay, craigslist, kijiji so mainstream now? I wish they would change the name of flea markets, something more happy...maybe glee markets:)
I had my own restaurant/bar for many years. I understand the work involved in opening, running, babysitting and all the sacrifices of a business. I still can't believe my boyfriend stayed with me! now my fiance <3. I am not prepared to start a bricks and mortar store until I feel it out and gain customers in my area, baby steps. So this flea market idea is great!
I have been researching my area and have gone to all the flea markets...much to my fiances chagrin..lol but give him props for actually coming with me:) I have found two that I like one is open only on Sundays, but I really love the ppl that go there and the feel of it. The other is great too, not as much as the sunday one, but the owner is awesome, they are open Sat and Sun 10-6 (nice full days) and there are a couple of other crafters there ie: glass blowing and knitting crocheting that have been there for 5 or more years.
I would love to read your post or you can email me
Thank-you to everyones pieces of information on this thread. So interesting.
Welcome to Beading Daily Forum.
#1. Please remove your Email address. You are sitting yourself up for tons of Spam.
#2. Here on Beading Daily, you can E Mail anyone, just click on their Avatar, it will take you to their profile page. Directly under their name, you can send them and E Mail.
I love this feature, because we can chat with each other, with out posting our Email Address.(When I first joined BD, I got 118 Spam Emails in one week. Not fun.
There are a million post on this subject. some pro some con, but its all about the "Economy these days". So, I would check out "Wholesale Supplier" as the first step. so you can see how much you have to mark up your supplies. If its too low, or too high, your in trouble .
I don't know about a Flea Market, here in Deming,NM USA, Its just one big "Yard Sale" and is expected to be Cheaper than,I want to sell my finished pieces for.(I just cant see "selling for less than to product to make something".
Good Luck, Lyn
Blessed are those who can Give, without remembering
and Take with out Forgetting
Thanks Gypsy Mary,
This is my first time on a forum ever! lol.
I got your off-list e-mail. I'm working on a reply for you. Please be patient. We just got back from vacation and are still catching up in the store. If that wasn't bad enough - at the last minute, we decided to run a sale, celebrating our 10th year in business. It's been 10 years since we started in the flea market! (If you know me, you know that I don't "believe in" sales - I try to keep my prices low enough that I don't *have* to do sales - so, this is a big deal for us.)
One thing I will say here - if you are going to be having a BUSINESS in a flea market, it needs to BE a business! You have to think of your store as if it has "faux" brick and mortar walls and treat it as such.
I'll hit more about it in the e-mail. Give me a couple of days to finish the reply!
Thanks Deb!! So appreciate your time:) Happy 10 yrs!
Fire Mountain is a retail outlet. You can not buy at retail, double the price plus shipping and handling fees, and attempt to resell it to someone.
It be honest with you owning a bead ship is tons of work, so many items, so much need for inventory control and diligent book keeping practices. In addition to sales, sourcing new suppliers, comparison shopping, establishing a brand and shop design concept and signage. If you are of the mind set that you can buy retail and resell at double plus retail, you are not even remotely ready to open a bead shop. I am not trying to be rude, but seriously, lets get real here. A project like this is going to be a money pit for years, even if you are well educated and experienced in the bead business.
Successful businesses don't happen by accident, they are conceptualized and well planned out by educated and often experienced people familiar with the industry they are attempting to go into business in. You really have to knowledgeable and willing to educate yourself. You are talking about a lot of start up costs and monthly overhead.
There are probably loads of marketing and merchandising classes offered in the colleges in your neighborhood. You would be better off spending the minimum of $30,000.00 you are going to need just to get the doors open on beads and push your design business to the next level. Seriously, if you can't make a major success of that, you could have never run a bead store, if you are thinking that Fire Mountain is a buying option for a retailer. Rings and Things?
Where the door is situated on the front of your chosen retail space is important, the color you decide to paint your walls will gravely impact your success, your marketing campaigns are so important, having loads of back up money is imperative, and people are pondering the prospect of stocking a retail shop with purchases made from another retailer. The very minimum requirement for opening a retail shop of any type, is the basic understanding of the relationship between wholesale and retail.
I think it is wonderful to dream, but this is a very costly dream. I think that if it is business related the dreams should begin in a classroom. Or invest a year working in a bead store.
I really don't like or want to burst anyone's dream, but arteviente is really right on.
People often have very unrealistic dreams, don't do their homework and then can't figure out why it didn't work. Unless, you have a lot more money then you think you'll need, you probably won't make it.
I thought I had actually posted earlier (end of Jan or beginning of Feb, but it didn't post for some reason - sorry.) Maybe it's better, because it may have saved people from spending a lot of money, but you can plan for next year if you still have the same dream.
Every year during the first three weeks of February there is the biggest gem and mineral show and therefore bead show in the world in Tucson, AZ. There are vendors there from everywhere in the world selling everything you can imagine and more.
If you go, be prepared to make reservations way in advance for a hotel or you won't get a room and you will pay top dollar for that room. If you want wholesale prices be prepared to show your credentials, talk the talk, haggle if necessary - it's expected, and take 20,000.00 to 30,000.00 and know you will come home without any of it. Make a plan how you're going to get the merchandise home; probably shipping, because it's not going home by plane and probably not in a car, because you won't have room.
This is not a show where you are going to only spend a few thousand. If you just want to spend a few thousand, go to a Gem and Lapidary Wholesale Show. They have a website and they have shows all over the US. Again, you won't get in without credentials, if you're going to get the best prices you do have to talk the talk. Many of those vendors bought at Tucson and they will sell to you at the price they think you will pay. It doesn't make any difference what is marked on the piece, unless you're willing to pay top price for the items. Some of them will have minimums. Again, you do need to take several thousand with you or else what is the point. If they get 500 customers, they could have 500 prices for the same item. I have bought beads at less then 10 percent of what others did for the same beads, but I bought every single strand. Offers and timing is everything.
Going to one of these shows may be enough to let you know this is not what you want to do and it's better to know sooner than later.
Hey Deb. So glad you're still here. I will come to AZ some day to see you. Hi, Kipper Cat. Glad you're still here, too. Life got complicated so I had to drop out for a while. In case, I was not crazy enough, I did exactly what I tell other people not to do. I not only open a bead store, but put it in a gift shop adjoining a cafe. I'm really getting too old for this, but it sure is a lot of funny, if you don't weaken and love all the stress - which I do, obviously, but adrenalin is not for everyone..
Tip: To stop metal findings from tarnishing store in a ZIP Lock bag with a chunk of chalk.
BUBBLE BURSTERS!!! lol
Just trying to be realistic I would hate to see an independent retailer fail
Not at all. I am the first person that says live your dream. Step up and consciously create your future exactly the way you want it. Just do it. But it's a lot easier if you know what to expect. It's like driving to California. You could just head east and hope that you don't land in Washington or Oregon, but on the other hand California is a very long state with big mountains. It is a whole easier using a GPS although a GPS can be expensive. The members of the forum offered a lot of free advice, not to stop you from your dream, but to alleviate the stress.
I have all of my life. It wasn't always easy, but it has always been fun. However, I thrive on stress and adrenaline. Not everyone does.
I started a new adventure in June. I had all of the inventory, fixtures, etc. It still has already cost me 70,000.00, I owe 25,000.00, and it will be about two more months before I start making money - I hope. Stress? Yes. Adrenaline rush? YES. Do I love it? YES. Is it for everybody? Absolutely not.
You need to decide what kind of person you want to be.
Good luck and may all of your dreams come true.