Will it work? Need inspiration/hope

[chickenista]

We are looking at a farm to buy that is beyond my wildest dreams, and that's the problem; dream vs. reality. House nice, 250ft long chicken house/barn that make my knees go weak and my eyes tear up, summer kitchen/canning shed/root cellar building/ buck barn etc..but it also comes with a 1200 sq ft retail store on farm. (with the counters and shelves and a beautiful old woodstove) Could I make a little store work or am I just out of my mind? I have a bulk foods store(flours, grains, herbs, rice etc..) that is willing to franchise me and lots of friends that produce crafts, paper, glass, felt... it's one curve off of a main road, but I just don't know. I need input other than DH. Or should I just let the store building be the home for every board, old sink and piece of insulation that follows DH home every night? Going insane.. my mind just keeps turning..

[bill not in oh]

Originally Posted by chickenista

Could I make a little store work or am I just out of my mind?

Location, Location, Location....
If you have a good location including a reasonable traffic count, are willing to do the advertising and marketing and have the additional financial resources to withstand several months of business losses (doubtful that you'll instantly be making a profit).... SURE go for it. Just remember that the retail outlet will be a full time enterprise - it won't leave much time for other activities.

[Rick]

Hi

I'm guessing that you have a nice situation where you are now.

How deep would you have to go in debt to do this? You don't want to be paying a much larger note, unless it is absolutely necessary!

If you did run the store in that building, how much business could you count on in a 5 square mile area?

It seems like the store could wind up being a time/ money drain, but I would be dreaming about it too if I were you.

Think it over, it is a big decision.

Rick

[MullersLaneFarm]

Was the previous store profitable?

I would *love* to have a retail outlet at our place. We are slowly, but surely creating one from the machine shed.

Random thoughts

Are there other bulk stores in your area?
Does main road = some sort of highway?
Advertise, advertise, advertise!

[Beeman]

If you didn't need to make money from the store and had quite a bit to sink into it and a good business plan it might stand a chance. on the other hand if you need to make money from it, don't have a fair amount to dump into it immediately and your only plan is the romantic feeling of an old store with a stove and checkerboard I would say it won't work. I know it sounds cold, but it's the truth.
Wher in WNC? Most anywhere in the NC mountains comes with a hefty price tag.

[chickenista]

Let's see.. it is in the foothills, longer growing season so we are moving east. It would just be my store for butter/egg money. DH is in construction. And being right by the house, I could do all my usual farm chores and still man the store. Eventually would try for goat cheese etc. from goats. Previous owner had huge chicken farm and sold eggs and produce from store and in the 30's it was a gas station. We are trying to get a loan for the farm anyway. we are in a rental and going nuts. The one positive is there is no other place to buy natural whole wheat flour, spelt etc within an hour's drive in any direction. The thought hit me when I realized I didn't want to drive that far. Thanks and keep them coming, good and bad.

[DenverGirlie]

I haven friends in central IL that have a retail place that sells cut and dried flowers mainly with a variety of other smallish stuff, baskets, soaps, etc.

they are a few miles off the main road, but that main road has a tourist location (New Salem - Lincoln spent time there as a young man) not far so it does get traffic, just it's a conscious effort to get there. They have a simple sign at the main road and have no idea how much "wander in" traffic they get.

http://www.visit-thefarm.com/

http://www.springfield-vr.com/044-farm-front-l.html

The flowers they sell are grown on site, they have a walking garden, have a large room for party rental attached to the store. They also sometimes run hayrides, hot dog cook outs and have marriages in the garden under a growing gazebo.

Her sister owns and operates a small diner a few miles away but that location is on the main road, there is a bit of advertising at the diner.

How far are you from a largish main road? What type of road traffic is on that road? Are there others around you that use the same type pf grains you are considering?

As for manning the store and doing chores at the same time... that will be difficult. The Farm owners live on site in a separte house, but it's definatley a business even thou home is a few hundred yards away, of course you said this location is attached.

What else can you do with the space? Birthday parties? Wedding? Quilting club?

Good luck!

[Junkmanme]

Although it is important that the business and products interest YOU, the REALLY IMPORTANT THING is that the business and products INTEREST YOUR POTENTIAL CUSTOMERS! Find the NEED, then FILL IT! This is crucial to your success!

Sounds like a GREAT IDEA and WONDERFUL ADVENTURE that could be very beneficial to you financially, if done well and carefully.

KEEP US POSTED on this! I'm hoping it works for you! (Note: In Western North Carolina, many of the "older folks" raise their own food, however that is changing with younger generations and the "influx" of "Northerners".)

GOOD LUCK!
Bruce (Junkmanme in New Mexico)

[Wolf mom]

Ask the seller! If it was a store that they ran, you can ask to see their books.
Are they selling it as part commercial property?
Is there a college or Jr. college near? Have someone from the business department do the demographics (cheaper). Good to do first for any business plan.
Sounds neat if you can get things to sell as consignment items rather than having to buy 'em outright.
I'd do it, but one step at a time, if the demographics worked. Been there - didn't do it.

[Jim S.]

Here's my experience:

I ran a store on a major highway in town with tons of traffic, but it did not really start to do much til I moved it to the town square where there is less road traffic. Go figure. I reckoned it had to do with folks slowing down enough to even see I was there, plus the casual walk-in customers who were shopping the other square stores, because my weekly advertising did not change, just the location. I have seen this with 7-11 stores, too, where two will be kitty-corner on the same intersection, and one will fail.

Still, after 3 years, I was making money but not enough to where I could take much out of it for myself. When Wal-Mart announced plans to build a Supercenter in town, I felt the writing was on the wall and sold out my stock and closed it. I broke even for the venture, if you don't count the 3 years of lost income I would have had from a job.

It's not as easy as it looks. There are long hours, and you will be taking a risk every time you buy stock. Overhead eats up a lot of cash, be ready for that. Utilities are huge, as is stocking cost. It can be rewarding and can offer some flexibility working for someone else doesn't, but you are also without insurance or other perks of a job.

Sometimes I get wistful and wonder if I quit too early, but then I look at the town square now, and all it is is antique stores catering to out-of-towners. That is a tough road if the economy dips or gas prices spike. Stores go out of biz in waves then. So I'm probably better off with full BC/BS insurance, a retirement plan, a matched 401(k), 10 sick days a year and 3 weeks vacation.

[Jenn]

If running the store is not essential to paying to buy this place go ahead and get it, get on your feet there while keeping DH's junk out of the storehouse, then assess after being there for a bit whether to open the store or not. Certainly t'll be better store or none than your rental.

[haypoint]

Supplying what your customers want is an important part of a good business. However with limited number of people for potential customers, you'll need a lot more than flour and cheese. If you can create a wide variety of products and services, they'll shop more often. Bread, jam, honey, maple syurp, firewood, bird houses, hay, straw, pet grooming, dried fruit, tomato plants, potted fruit trees, Potato chips and corn chips, Pepsi. Not just the things that fit your 1920s idea of a General Store.

[Liese]

My experience comes from having an optometric practice in a small town just outside Philly. It was a bustling little town, very supportive and we made a small profit the first year and onward til I closed it and went sailing. That advice you got about holding off and getting the farm going first is very good advice, owning a business - even a "egg money" business, if you can keep it like that, will really eat up your time, thoughts, and energy. Even now it would seem this is what the idea is doing to you! Besides, if you are moving into a new area then you'll need to take a couple of years just to have people get to know you and you them. And write when you are ready to go sailing! Good luck now and hope the deal goes thru.

[gwithrow]

we also live in western NC, between Asheville and Charlotte, so depending on where you are looking, ....that is what will make it work or not...there are a lot of retirees in this area and more coming..many are looking for natural food, and simpler things for a simple lifestyle...but we drive at least an hour to get many things we need out here, we just don't do it everyday. good luck gwithrow

[CherieOH]

Sounds like a great opportunity! If you decide you don't want to commit to a retail store yourself, you could always lease it out to someone else.

[Rory]

I just read an article on intuition, and as lame as it sounds...flip a coin. Don't flip for the result, but flip to see your reaction to the result. If you get a no, are you upset and super-disappointed? The article claimed that people overthink decisions and that overthinking clouds our judgement. Go with your gut.

It sounds like a wonderful opportunity, store or no store. Your own place! Personally I think it would be great...bulk foods (I also have that spelt flour availability problem), eggs, cheese, flowers, crafts,...! Our neihbors have a little store and sell antiques and tools and household stuff from farm auctions and do well. They even get a van load of tourists once a week or so. Your having a bulk foods connection already is a great start!

Good luck!