I do it because I love it too... but at the end of the day it's still a business and it's not worth it if it bleeds you dry... so I'll take it that you did not write a business plan.... :roll:
Money isn't secondary if you haven't any
Like I said - try 104th street, there's got to be a couple of dozen or more wholesalers of all shapes and sizes. I'd venture to guess that most of us began there - most stay with 104th and some of us ventured beyond
I'm a hobbyist who started a LFS out of love of the hobby -- and I still love what I do, but BEFORE I ventured out on my own I spent time working for somebody else, learned the who's who, supply chain, numbers, customers etc., then when I went into my own area to create my store I also studied economic demographics, population density, disposable income...
It's all well and good to do it because you love it, but without a sensible business plan, you're quite possibly destined to become a statistic.
I'm not trying to discourage you -- simply trying to give you a bit of advise that worked for me, and others who came before me, who didn't take the advice, have since become statistics too.
It's a tough business - think long and hard because for many, the love of the hobby has become disdain for the job. If you have a business plan and can stick to it, when you see how your numbers stack up against your predictions, you can feel good about it, or take proactive measures to correct problems before they become overwhelming.
I'm 2 years in and I recently doubled the size of my store... project has had its wrinkles and it's not quite complete and a bit behind schedule - but because we had a plan, we've been able to roll with the punches.
TAKE the time and do the research - FIRST. It will save you lots of money and headaches later.
Jenn
