Well. I am at yet another another crossroad. I have 2 stores open(+ website) and need to make a decision by the end of JUNE which one to keep. I need to pick which location to go with so I can put all my energy toward it.
There are pros and cons to each.
+ Staffed as Consignment…. but only open 10a-6p Fri, Sat, Sun…
– Only about 200sq ft— which means not enough room for all my stock etc. Not enough room to move my sewing stuff in to utilize time better. When I am there, all I can do is sit and wait for customers.
– When I am not there, customers pay cashier & I am charged an additional consignment fee.
– When I am not there, theft is a major issue.
+Total Rent is cheaper & I am not required to be there to sell.
– Price/sq ft is more expensive
+I can pack up and leave anytime as rent is month to month.
-I am in the Biggest spot, no room to grow.
+customers come in to the flea market loaction and happen across me.
-customers want to haggle prices and some expect to pay less than yard sale prices because I am inside a flea market.
If I leave, someone else will grab my spot and I will never get that large, front or store area back.
Overall: Not Enough room. But not stuck in a lease if things fail.
– Run 100% my just ME– which means I am chasing children around while doing 100% by myself…& I cant leave. There is no back up and if I were to leave and customers came, people would be upset to find me closed.
+ I am only open weekends. I choose my hours. I COULD open during the week once on a full contract lease.
+ access to retail racks, retail hangers, etc.
– 5X the total monthly rent and I will be LOCKED in a 1yr contract- even if things fail. That is a BIG RISK.
+room for sewing equipment
+stuff in mall for kids to do and everyone is really friendly & seem to like us.
If I leave, someone else will grab my spot and I will never get a chance to EVER be in a mall again with my kind of business.
+ customers find me while just wandering the mall.
-mall traffic is low because mall was declared “dead”– currently newly rebuilding– so “accidental” traffic will be low/more advertising exps on my end.
-some mall walkers are making rude comments toward me because I am “selling used stuff in a mall.”
+I am the ONLY resale/consignment store you will EVER find in a mall due to usual regulations etc– the city & mall has made an exception for ME. This is truly a once-in-a-lifetime opportunity.
+ cheaper per sq ft… More room. Option to up-size to a larger store front
+ Options/Space to hold BIG EVENTS to draw MORE customers
Overall: Best option, BUT terrified of possible failure… If I choose this and fail, I will have lost my other shop… but if I give this up I will NEVER have another opportunity ever again.
Being the only income and the sole provider in our home, it is really scary to take such a leap…