I'M THINKING OF OPENING A SUPPLEMENT STORE...

[bigfatandugly]

i hope there are some people on here that can give me some good advice.

i live in a city of 120 000 which is amongst the quickest growing in canada. including surrounding towns i would say there is close to 160 000 people to draw from. there are only 2 supplement stores here, a GNC and a Popeye's.

both stores are in the north end of town, whereas the south end is booming and the city is spreading south (where i want to put my store), not north, and neither store does much advertising.

there is a huge number of people who go to the gym here, being at least 6 gyms i can think of off hand, and co-incidentally, 5 of the 6 gyms are in the south end of town as well.

it's just a matter of time before someone gets smart and opens a shop in the south end. i want to be that person.

what would you recommend i look at for square footage for my store- i'm thinking less than 800 sq feet? i already have a great location in mind on one of the main streets with good frontage. i plan on advertising the shit out of it too.

what do you recommend i carry for supplements and what names/ brands? what do you figure i'll need for start up costs?

i really want to kick this off as i really think i can make a go of it. i know there is a wealth of experience on this board i can draw from, i am hoping you all will share any ideas, hints or experiences you may have as i have never opened up any kind of busniess and am kinda clueless.

all i know is that i plan on being the sole employee and that i honestly think i can really make a good go of this.

any help or advise is appreciated.

BFU

[alecaf]

Im guessing its somewere in alberta

[bigfatandugly]

Originally Posted by alecaf

Im guessing its somewere in alberta

further east...

due to the type of board this is and who might be watching i'll prolly not get into any more detail than that.



BFU

[alecaf]

Originally Posted by bigfatandugly

further east...

due to the type of board this is and who might be watching i'll prolly not get into any more detail than that.



BFU

Well good idea, did not mean to intrude.

I think your supp business, considering the factors you mentioned above, would be a complete success. I would definitely give it a shot.

[Ironmanpits]

I own a store of this type....but my store is part of a 60+ store corporation and the bidggest obstacle you will have is being a single store you have no real purchasing power when it comes to name brand product that GNC and even worse BBing.com carries. Most of these products have hardly any profit margins if you plan to compete with online retailers...now if you can aquire exclusive product lines that are not available elsewhere then you will do better. I am in no way trying to discourage you...just some info from a store owner. Dusty owns stores... perhaps he can add to this. Dont plan on living the good life on one store...you may have to open several to make real money...best of luck brother! - T.

[bigfatandugly]

Originally Posted by Ironmanpits

I own a store of this type....but my store is part of a 60+ store corporation and the bidggest obstacle you will have is being a single store you have no real purchasing power when it comes to name brand product that GNC and even worse BBing.com carries. Most of these products have hardly any profit margins if you plan to compete with online retailers...now if you can aquire exclusive product lines that are not available elsewhere then you will do better. I am in no way trying to discourage you...just some info from a store owner. Dusty owns stores... perhaps he can add to this. Dont plan on living the good life on one store...you may have to open several to make real money...best of luck brother! - T.

thanks for your reply, ironmanpits.

today i am going to meet with a guy who is an independant store owner (not with a chain) who said he'd be happy to let me pick his brain. i am going to ask him how he went about opening accounts with allmax/ muscletech/interactive/etc. it would be so much easier to enter into a partership with this gentleman as he already has the contacts i need, and the experience i want, but i am hoping to avoid this.

i don't think i can compete head to head with online retailers, but know i can be competitive with the Walk-in type supplement stores in my area. i know a broad base of people and have a good reputation as well that i hope will benefit me.

as for the income aspect, this will be more of a working hobby- i have a great job that provides well for me that allows me alot of spare time, so i won't be relying on this as a sole source of income. if it takes off and i can expand, all the better. if it is self sufficent and it pays my time to be there and i can be my own boss, thats great too.

BFU

[bigfatandugly]

Originally Posted by alecaf

Well good idea, did not mean to intrude.

I think your supp business, considering the factors you mentioned above, would be a complete success. I would definitely give it a shot.

thanks alecaf.

i just can't believe there is no store in the south end here. at least 3/4 of the population of the city is in the south end now, and the majority of shopping is here to (costco/wallmart/homedepot etc) and as i said the city is moving south and the majority of gyms are in this end of town.

it's just a matter of time before someone does it. the opportunity is massive. i just don't know how sustainable opening up a supplement store can be.

BFU

[Chrisco915]

I was not aware that fried chicken was a supplement. Popeyes? LOL.

[madmick]

I opened a store on Long Island back in 2000. I sold supplements and gym/BB clothing. The supplement business is very competitive. There were other places where they were selling stuff cheaper then I could buy it for at wholesale. Now you have the internet as competition as well. After 6 months I had to close my doors. I never made enough to even cover my monthly rent.
My start up cost was around $40,000 and I never got any of it back.
I'm not trying to talk you out of it, maybe it will work in your area.
Best of luck to you

[nziegs]

ive been working at a supp shop for quite some time now. and the owner makes MAD CASH off of expired and close dated stuff. He buys it for nearly free and sells it to cheap to people who are looking for good deals. And now a day, in this economy, believe me, that's almost everyone...thats probably best advice product wise...feel free to pm me, if you want to know what products sell or if you have any other questions. im just a sales guy at the front counter but ive been working in this industry for a while for a VERY successful owner. so let me know.

[LEX]

I had a 1300sq ft. just to give you an idea had 60K on the shleves.

[teslacsten]

Just for reference. Before you jump on any kind of lease you may want to hang out around the location you are thinking of and watch for foot traffic. I know from experience that is a big addition to a business of this kind. If you are hidden or dont get much foot traffic during the day it will somewhat hinder your business opportunity. Just something to think about from experience.

[wrought]

Check into the franchise costs for opening a 2nd popeye's. I watched a buddy of mine try to live his dream of owning a supp shop and making a go of it as an independent was virtually impossible due to the tiny margins and his minimal buying power.

[Buildinthaskinnys]

I kicked the same idea around, and really its so cutthroat that business, I mean everyone is doing it and almost everyone is selling the same products, maybe as a supplement to income it wouldnt be bad but you would have to run it tight, especially as a independant. Though truth be told I would shop at an independant store if their prices are right and they arent assholes. Come on everybody FIGHT THE MACHINE!! AND DRINK THE MILKY!!

[joeyrods]

i think its a great idea i live on long island and around my area theres only known name suppliers such a GNC and vitamin world

it would be great to see a independent store open up

[Marshal-1]

Owned my own store for 10 years. Margins are slight and with internet purchasing and such it a very very tough environment.

[AN3M4L]

In northeast philly there's an indy supp store and it does pretty well. It gets a lot of support from a lot of the gym rats in the city.

[Dusty Hanshaw]

I'm slammed right now and running out of one of my stores and on to the next but will toss in my .02 when I get a chance in the next day or so. Evian and I own 4 stores and it's a great business if you have experience and enough cash flow to get started. Our stores range in size from 1100-1500 sq ft.

Dusty

[Tom]

i can't help you with the supplement end of the business but i would contact all the gym owners in the area and offer thier customers a significant discount. i would also advertise in your shop for the gyms and they could do the same for you. the only problem could be the gyms selling thier own line of supps. you'd have to carry some specialized items that they don't have.

[Big Bapper]

Originally Posted by bigfatandugly

i hope there are some people on here that can give me some good advice.

i live in a city of 120 000 which is amongst the quickest growing in canada. including surrounding towns i would say there is close to 160 000 people to draw from. there are only 2 supplement stores here, a GNC and a Popeye's.

both stores are in the north end of town, whereas the south end is booming and the city is spreading south (where i want to put my store), not north, and neither store does much advertising.

there is a huge number of people who go to the gym here, being at least 6 gyms i can think of off hand, and co-incidentally, 5 of the 6 gyms are in the south end of town as well.

it's just a matter of time before someone gets smart and opens a shop in the south end. i want to be that person.

what would you recommend i look at for square footage for my store- i'm thinking less than 800 sq feet? i already have a great location in mind on one of the main streets with good frontage. i plan on advertising the shit out of it too.

what do you recommend i carry for supplements and what names/ brands? what do you figure i'll need for start up costs?

i really want to kick this off as i really think i can make a go of it. i know there is a wealth of experience on this board i can draw from, i am hoping you all will share any ideas, hints or experiences you may have as i have never opened up any kind of busniess and am kinda clueless.

all i know is that i plan on being the sole employee and that i honestly think i can really make a good go of this.

any help or advise is appreciated.

BFU

800sq feet would be enough. You could stock less brands than the chain stores to get better mark up on products.