Username Post: Scrapbook Store Owners        (Topic#1569219)
Anjani 
New Kid On the Block
Posts: 1
Joined: 01-14-12

Hi There,

I've recently been presented with an opportunity to purchase an existing store in my hometown with a proven sales record, but I would like to hear from anyone if I should be hesitant for any reason, such as a decline in the industry or any helpful points anyone is willing to offer.
Thank you for your time, your knowledge and guidance is appreciated.

Anjani


 
Scrapbook Queen
Mayor
Posts: 12535
Joined: 12-05-05
Scrapbook Queen
In response to Anjani

I used to own a lss in 2001-2003. We sold it for a profit after two years.

I would love to do it again but the thing that concerns me is as a smaller store it is extremely hard to keep up with the latest stock b/c of the cost and the minimum quantities that you have to purchase. I would really look into the competition to see if you'd be able to keep up.

Also, owning your own business is really great but a HUGE amount of work. I had a partenr and we put in 5-60 hours a week each for the first year. We taught all our own classes and ran our own crops and retreats (more cost effective for us).

And, the only scrapbooking I did for those two years was for classes or displays for the store!!!

I really enjoyed it but would definately want to have a large amount of money behind me to be comfortable hiring others to ran classes, crops and retreats so I wouldn't have to put in so much time.

A good rule of thumb we went by was using 5-10% of your profit every month for advertising, at least for the first few years.

Can't think of anything else right now but if you have any specific questions feel free to PM me.


 
New Kid On the Block
Posts: 2
Joined: 01-23-12
In response to Anjani

Make sure you do your homework before investing, as I have seen a number of scrapbooking, and stamping stores close in my area (Vancouver Island). Check with the Women in Business network, and if possible with scrappers that you may have met at crops to see what activity is surrounding the hobby. And remember that during times of restraint, its the hobbies that are neglected while the home is protected.


 
New Kid On the Block
Posts: 3
Joined: 01-26-12
In response to Anjani

I am in the process closing my retail store in Los Angeles, CA. I have a channel letter sign that says "Scrapbooks" available for $750. If you are interested please let me know.


 
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