2. misc-audio
  3. 1151275167

Starting a high-end audio shop... Am I crazy?

In my mid 40's reaching that mid-life crisis, which is not a myth. Many of my friends are leaving good jobs to start all kinds of wacky businesses. I am actually thinking of giving up a $120,000 yr job and starting a high-end audio retail biz - both online and hopefully later on a brick & mortar store. Have 20 years experience in sales and marketing, and/or design of software, electronics, multimedia, video and financial products including a few years in music retail and production.

Who can share their experience, or advice? Is the markup, distribution, etc of high end electronics similar to that of regular electronics? Any sources of info or pointers, tips, horror stories etc are appreciated.
gdoodle
gdoodle OP
113 posts
 
Sdcambell,

I'm familiar with the 2-3 high end guys in town and bought from them but not sure I would want to approach them. I really need to start online and would love to find someone online who would not be threatened my presence, like the local guys might. I do understand they are going into home theater quite a bit and there is probably a lot of money in that which is OK by me. There are more Ferraris/Porshe/Maserati's dealerships in my neighborhood than decent high end audio shops - if that is worth anything... there is plenty of disposable income round these parts.
tmhaudio
99 posts
 
Good luck to you...gotta chase your dreams! A couple of questions to ponder...

1. Where are you planning to base your operation?
2. What is your targeted market?

Jim Ricketts/tmh audio
grr6001
103 posts
 
Start one in Cleveland , Oh,. We have nobody.
I live in the suburbs, had to go to Chicago to
find a standup co.
If done right & diversified you will make it.
Location is always key.
jaybo
4,478 posts
 
the margins are not as good as other electronics, and dating not as good either. cashflow will suck the first two years, and the investment is incredible. one of my closest friends failed in his endeaver. a limited and fickled client base. the brands he had were blue chip.....cat, bat, naim, electrocomoaniet, audiolab,linn, revel, VS, hales, primaire, kimber, etc etc. invest in anything but a storefront. virtual stores can get by without inventory but they have their own problems......even hubs for high end such as mpls, seattle, new york city, etc are hurting.
rgd
656 posts
 
Access to selling on-line will help as the Net has opened up doors for us audiophools that never would have happened 10 years ago. Maybe you should start small committing time at night and weekends building up a reputation and clients before getting rid of the steady paycheck.

I say go for it - life is not a dress rehearsal...
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