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Author Topic: Business Plan to open a supplement store  (Read 6518 times)
Ian
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« on: November 08, 2010, 08:43:08 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.
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« Reply #1 on: November 08, 2010, 09:55:18 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.  Grin
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« Reply #2 on: November 11, 2010, 06:29:18 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.  Grin
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.
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« Reply #3 on: November 12, 2010, 03:01:53 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
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« Reply #4 on: November 21, 2010, 03:37:36 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!  Cool
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Ron
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« Reply #5 on: December 01, 2010, 12:13:55 AM »


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.

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« Reply #6 on: December 13, 2010, 02:27:53 PM »

This is the only thread that was based on the description of what the board is supposed to be for  Huh





Industry related business questions , creative ideas , thoughts , marketing and more .
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« Reply #7 on: December 13, 2010, 02:36:51 PM »

This is the only thread that was based on the description of what the board is supposed to be for  Huh





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.
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« Reply #8 on: December 13, 2010, 02:49:12 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

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Ron
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« Reply #9 on: December 20, 2010, 10:59:17 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
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w8m8
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« Reply #10 on: December 22, 2010, 07:13:52 PM »


And will change more for industry questions towards the new year

That will be appreciated I'm sure
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« Reply #11 on: December 29, 2010, 01:58:28 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  Grin 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.
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« Reply #12 on: December 30, 2010, 08:27:54 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
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« Reply #13 on: January 15, 2011, 08:58:16 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.
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andreisdaman
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« Reply #14 on: January 26, 2011, 10:05:44 PM »

you can't make money just selling supps....gotta sell smoothies, protein shakes and other shit as well
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« Reply #15 on: January 28, 2011, 08:07:05 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.
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« Reply #16 on: January 28, 2011, 08:18:06 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
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24KT
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« Reply #17 on: January 28, 2011, 08:54:28 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.
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andreisdaman
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« Reply #18 on: January 29, 2011, 03:11:59 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
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24KT
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« Reply #19 on: January 30, 2011, 12:57:05 PM »


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.  Tongue
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« Reply #20 on: January 30, 2011, 05:17:20 PM »

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

HA!!....fair enough.....BTW...why did you change your name?
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24KT
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« Reply #21 on: January 31, 2011, 08:15:54 AM »

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

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