posted November 10, 2007 12:04 PM PST

Pros Cons

Right now  I am splitting my work time between the store adjacent to my home and the other store a few minutes away. This other store is significantly slower. $100 a day compared to $400-800 a day at the store next to my house. I opted to work here more because I needed a break from my boss and the same customers that come in daily. Its much more peaceful here but very boring. We have been on the verge of closing this store for months. If that happens my hours may be cut drastically at the remaining store.

I am still trying to open my boutique. I have an appointment with the bank on tuesday. Its promising  but not probable.

So today the my other boss (who has had to go back to doing construction to pay the bills while his wife runs the store next to my house and I kinda run this one) called me with a proposition. In a last ditch effort to get some people in here he suggested I rent half of the main floor from him and open my shop. $500 a month and I will still be a paid employee. Whichever store I am at someone will be here selling merch for me and him. The good part is little start-up costs. He would even give me the first month or two free as a trial period. I'd have my own door, my own register and phone line.

The thing is I do not want to open up in here. The stuff I plan on selling is geared toward younger people willing to spend disposable income on custom and vintage clothing, odd books, artwork and random neat stuff. None of those people come into this store. Because we are in a location that attracts ZERO foot traffic. We are surrounded by trailer parks and just a couple miles from downtown Gary. The neighborhood isnt bad. Its boring. We are on a 4 lane road with a 45mph speed limit. One has to want to come here and make a special trip. I can think of no one that would come out this way for my stuff. Thats why I want to be located in Highland, near the other thrift stores, the record shop, the guitar studio, the musicians guild, coffee shop, the print shops and the art gallery. Its a downtown area, just what I need. Not a randomly placed building that used to me an AutoZone 10 years ago.



That said, the odds of me getting a small business loan are kinda slim. I have terrible credit and a bankruptcy. I have no money and no collateral and no cosigner. Its not out of the question, but it may be tough. If I do not hear anything positive then I may go for it here. its not what I want but it is a reasonable start. I can get my foot in the door of the business world. And if it doesnt work it wont really cost me anything.

thoughts?

last updated November 12, 2007 9:09 AM PST

posted November 10, 2007 1:26 PM PST

it would seem if the loan doesnt pan out than the alternative your boss is offering seems like a good deal. but you clearly know the scene.
owen

owen is currently offline

posted November 12, 2007 3:22 PM PST

I'd have to pull in around $1000 a month to cover rent and buying new merch if I went in here. Thats no profit at all for me. $2000-2500 to pay me and be able to rotate in new stuff and advertise and such. Thats about $100 in sales a day, 24 days a month. Thats not completely unreasonable. But thats tough in this spot.
eric

eric is currently offline

posted November 13, 2007 1:54 PM PST

i say go for the new and exciting. you already know the story where you are.
rah

rah is currently offline