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Getbig Misc Discussion Boards => Industry Business Technology Board => Topic started by: Ian on November 08, 2010, 07:43:08 PM



Title: Business Plan to open a supplement store
Post by: Ian on November 08, 2010, 07:43:08 PM
Hi I'm in the process of writing up a business plan to open my own supplement store. I could really use some advice! For example, where do you buy your supplements now? What determines if you buy it? Price? Reputation? Lastly for now, what would you like to see in your "perfect" store? Thanks to any who respond.


Title: Re: the perfect store
Post by: Flexb on November 08, 2010, 08:55:18 PM
Supplement stores are almost as bad as 7-11's. There's almost one on every corner these days. What makes the difference is retail pricing. You'll need to have rock bottom prices selling the top brands. Unless you open in a location that doesn't have a competitor within a reasonable distance, you'll have to work closely with your distribution companies for very low costs on your brands. If you're opening a franchise then you'll have to rely on buying power and hope they can relay the low prices for your store. Have lots of samples on hand and other freebies that will drive customers back if you can't beat competitors pricing. You better at least match other stores pricing if you want a chance in hell of staying open. My main piece of advise is do not open near another competitor. There is a small piece of pie going around and the last thing you want to do is split it with someone else.
If you really wanna make money, sell juice under-the-counter.  ;D


Title: Re: the perfect store
Post by: Howard on November 11, 2010, 05:29:18 AM
Supplement stores are almost as bad as 7-11's. There's almost one on every corner these days. What makes the difference is retail pricing. You'll need to have rock bottom prices selling the top brands. Unless you open in a location that doesn't have a competitor within a reasonable distance, you'll have to work closely with your distribution companies for very low costs on your brands. If you're opening a franchise then you'll have to rely on buying power and hope they can relay the low prices for your store. Have lots of samples on hand and other freebies that will drive customers back if you can't beat competitors pricing. You better at least match other stores pricing if you want a chance in hell of staying open. My main piece of advise is do not open near another competitor. There is a small piece of pie going around and the last thing you want to do is split it with someone else.
If you really wanna make money, sell juice under-the-counter.  ;D
Pretty good advice right here.

I would caution against buying into a franchise however.

Frined of mine did , next to our gym and went belly up due to the franchise rights fees.


Title: Re: the perfect store
Post by: benchmstr on November 12, 2010, 02:01:53 PM
i perfect store would be a butchers shop than had all kinds of meats..domestic, and local....and was a full blown liquor store..

bench


Title: Re: the perfect store
Post by: JasonH on November 21, 2010, 02:37:36 PM
i perfect store would be a butchers shop than had all kinds of meats..domestic, and local....and was a full blown liquor store..

bench

Now that would be a good store!  8)


Title: Re: Business Plan to open a supplement store
Post by: Ron on November 30, 2010, 11:13:55 PM

Location matters a lot - you can have a great store, but not a lot of traffic if you don't have the right location.  Close to a gym, close to where a lot of offices are that people want to be in shape, etc.

Need a good product mix that people want - more bodybuilding oriented if closer to a gym, but also a mix of vitamins and minerals for an older mixed crowd.

Gotta be friendly and give good advice, for people coming into the store, a lot of them like to know what is good, what works, and want to be treated nicely.

Supplements can be bought from various distributors.  I work for DNA Sports Nutrition, which is a supplement distributor on the West Coast that specializes in sports nutrition, not really vitamins and minerals, etc.



Title: Re: Business Plan to open a supplement store
Post by: w8m8 on December 13, 2010, 01:27:53 PM
This is the only thread that was based on the description of what the board is supposed to be for  ???


(http://i54.tinypic.com/2lvls9z.jpg)


Industry related business questions , creative ideas , thoughts , marketing and more .


Title: Re: Business Plan to open a supplement store
Post by: 24KT on December 13, 2010, 01:36:51 PM
This is the only thread that was based on the description of what the board is supposed to be for  ???


(http://i54.tinypic.com/2lvls9z.jpg)


Industry related business questions , creative ideas , thoughts , marketing and more .

Maybe if you had a clue, you'd have realize the 3yr old board description was recently changed in the last month.


Title: Re: Business Plan to open a supplement store
Post by: w8m8 on December 13, 2010, 01:49:12 PM
Maybe if you had a clue, you'd have realize the 3yr old board description was recently changed in the last month.

LOL ... that's GOLD .. you know what is supposed to be posted and choose to do as you do ... here's a clue for you



Title: Re: Business Plan to open a supplement store
Post by: Ron on December 20, 2010, 09:59:17 PM
Maybe if you had a clue, you'd have realize the 3yr old board description was recently changed in the last month.


And will change more for industry questions towards the new year


Title: Re: Business Plan to open a supplement store
Post by: w8m8 on December 22, 2010, 06:13:52 PM

And will change more for industry questions towards the new year

That will be appreciated I'm sure


Title: Re: Business Plan to open a supplement store
Post by: tonymctones on December 29, 2010, 12:58:28 PM
I would caution against taking advice from seasoned lifters, which i would assume that the majority of ppl responding in this thread are.

I worked for a GNC for a good while and the majority of customers are not what I would consider avid exercisers they are the ppl looking for a quick fix. Mostly weight loss and younger kids looking for muscle building products.

Location is key and so is advertising, prices are whats important to ppl that are going to be repeat customers like a avid exerciser but flash and salesmanship is whats important imho to the weight loss and younger kid crowd...maybe you could hire 24kt/jagson to be a sales person  ;D I kid, I kid...

good luck brosky I always buy my stuff from the local family owned franchises around here to help out how i can.


Title: Re: Business Plan to open a supplement store
Post by: w8m8 on December 30, 2010, 07:27:54 AM

Location is key and so is advertising, prices are whats important to ppl that are going to be repeat customers like a avid exerciser but flash and salesmanship is whats important imho to the weight loss and younger kid crowd



good post ... I'd advise close to an active gym also with convenient hours and a good variety of products and an effort to supply free samples


Title: Re: Business Plan to open a supplement store
Post by: wolfgang187 on January 15, 2011, 07:58:16 PM
Put by the the rec at a college and sell met-rx. Almost every one of those little d-bags has a CC that mom an dad gave them and you will have a an influx of new customers every fall homie.


Title: Re: Business Plan to open a supplement store
Post by: andreisdaman on January 26, 2011, 09:05:44 PM
you can't make money just selling supps....gotta sell smoothies, protein shakes and other shit as well


Title: Re: Business Plan to open a supplement store
Post by: 24KT on January 28, 2011, 07:07:05 PM
you can't make money just selling supps....gotta sell smoothies, protein shakes and other shit as well

I would also add Fitness Related magazines & publications, as well as workout apparel, gloves etc.,
as well as becoming known as a place that promotes & distributes tickets to fitness & bodybuilding related events, ...anything that draws the customers in the door.


Title: Re: Business Plan to open a supplement store
Post by: tonymctones on January 28, 2011, 07:18:06 PM
I would also add Fitness Related magazines & publications, as well as workout apparel, gloves etc.,
as well as becoming known as a place that promotes & distributes tickets to fitness & bodybuilding related events, ...anything that draws the customers in the door.
not a bad idea but it would require alot more floor space

but on the bright side if you sold some tap out gear you would get alot of the teenage bad asses in the door


Title: Re: Business Plan to open a supplement store
Post by: 24KT on January 28, 2011, 07:54:28 PM
not a bad idea but it would require alot more floor space

but on the bright side if you sold some tap out gear you would get alot of the teenage bad asses in the door

It depends on the type of work-out gear carried. Gloves, belts etc don't require floor space, and can be hung from wall racks. Tickets can be kept at he check out register, and posters, again can go on the walls.


Title: Re: Business Plan to open a supplement store
Post by: andreisdaman on January 29, 2011, 02:11:59 AM
I would also add Fitness Related magazines & publications, as well as workout apparel, gloves etc.,
as well as becoming known as a place that promotes & distributes tickets to fitness & bodybuilding related events, ...anything that draws the customers in the door.



good point here....I don't think supp stores do enough to promote BB events...they should sell tickets AND promote events in neighborhood gyms for local badasses


Title: Re: Business Plan to open a supplement store
Post by: 24KT on January 30, 2011, 11:57:05 AM

good point here....I don't think supp stores do enough to promote BB events...they should sell tickets AND promote events in neighborhood gyms for local badasses

Of course it's a good point André, ...I said it.  :P


Title: Re: Business Plan to open a supplement store
Post by: andreisdaman on January 30, 2011, 04:17:20 PM
Of course it's a good point André, ...I said it.  :P

HA!!....fair enough.....BTW...why did you change your name?


Title: Re: Business Plan to open a supplement store
Post by: 24KT on January 31, 2011, 07:15:54 AM
HA!!....fair enough.....BTW...why did you change your name?

Felt like a change to one more reflective of me... 999.9% pure.  :D