Setting up Camera shop
- Thread starter jeff chen
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Thanks for all the interest in this topic, I was not expecting this much response when I first started the thread.
Anyway, I feel strongly there is a demand for a fair price no nonsense shop to cater to serious photographers who wanna buy equipment. Yes, there is AP and CP out there and some other shops, but what is their svc level and price?
Yes, I am fully aware of the level of svc clubsnappers want, and also the price. I think if we can set up a reasonable size shop, with no employeess, we can match the price of AP and even better svc than CP! Why? We don't employ staff and we are motivated, because we are our own boss!
I think in terms of partners, there will be 2 types, one is the active type, which I need only 2-3 others and the rest all can be silent partners. The active ones will run and manage the shop, deal with customers and suppliers, and they will fork out the majority share of money, but of course they will have a say in the day to day operations and mgt of the business. Those who are silent partners need only to fork out a small sum, say $5K per person but they will have no say in the day to day business nor operations. Those active will receive an allowance plus profit sharing while silent partners will only receive dividends at the end of every year.
In terms of active partners, I think those who are seriously into wanting to manage their own business need to apply. If u are currently in a reasonably cushy job with good salary and no retrenchment in sight, pse don't apply. Also, those with family commitments with young kids and all, suggest u take the silent partner role if u are really keen. Active partners really need to work like shit and have to be prepared for tough work with little returns for at least 6 months to a year. Hence, yr personal savings level must be reasonable to withstand this.
I am sorry I did not make myself clear earlier, what I mean is that those who only want to buy equipment at cost price cannot be active/silent partners. We are in it to make a profit, hence if everyone is to become a partner and buy things at cost price, we will fold in less than a month, paying rental plus rennovations...I think that is not fair to the rest.
I think there is enough of a market out there, plus with all the support shown by fellow clubsnappers, we should be able to make it a viable business.
If anyone is interested in hearing more abt my business plan, feel free to come to my place this Saturday afternoon. Alternatively, if there is enough interest, I may hold a Sunday afternoon session. At these sessions, we will ask each other Qs, so that we can gain a better understanding. I do not wish to discuss further as I do not wish others to know our business plan.
Can I confirm that those who can make it this Saturday/Sunday at around 2 pm, pse email me. Thanks.
Jeff
Anyway, I feel strongly there is a demand for a fair price no nonsense shop to cater to serious photographers who wanna buy equipment. Yes, there is AP and CP out there and some other shops, but what is their svc level and price?
Yes, I am fully aware of the level of svc clubsnappers want, and also the price. I think if we can set up a reasonable size shop, with no employeess, we can match the price of AP and even better svc than CP! Why? We don't employ staff and we are motivated, because we are our own boss!
I think in terms of partners, there will be 2 types, one is the active type, which I need only 2-3 others and the rest all can be silent partners. The active ones will run and manage the shop, deal with customers and suppliers, and they will fork out the majority share of money, but of course they will have a say in the day to day operations and mgt of the business. Those who are silent partners need only to fork out a small sum, say $5K per person but they will have no say in the day to day business nor operations. Those active will receive an allowance plus profit sharing while silent partners will only receive dividends at the end of every year.
In terms of active partners, I think those who are seriously into wanting to manage their own business need to apply. If u are currently in a reasonably cushy job with good salary and no retrenchment in sight, pse don't apply. Also, those with family commitments with young kids and all, suggest u take the silent partner role if u are really keen. Active partners really need to work like shit and have to be prepared for tough work with little returns for at least 6 months to a year. Hence, yr personal savings level must be reasonable to withstand this.
I am sorry I did not make myself clear earlier, what I mean is that those who only want to buy equipment at cost price cannot be active/silent partners. We are in it to make a profit, hence if everyone is to become a partner and buy things at cost price, we will fold in less than a month, paying rental plus rennovations...I think that is not fair to the rest.
I think there is enough of a market out there, plus with all the support shown by fellow clubsnappers, we should be able to make it a viable business.
If anyone is interested in hearing more abt my business plan, feel free to come to my place this Saturday afternoon. Alternatively, if there is enough interest, I may hold a Sunday afternoon session. At these sessions, we will ask each other Qs, so that we can gain a better understanding. I do not wish to discuss further as I do not wish others to know our business plan.
Can I confirm that those who can make it this Saturday/Sunday at around 2 pm, pse email me. Thanks.
Jeff
Okay okay change tune now.
BUY SELL BUY SELL BUY SELL!
In all seriousness though, if my current situation doesn't pan out, then I would be very interested in this venture. My capital may not be as great seeing as I'm technically just getting started in life, but I'd be able to provide in the photography and law (to a certain extent) side of things.
I will have a better idea in a week or two, and will give you a shout if I want to know more.
BUY SELL BUY SELL BUY SELL!
In all seriousness though, if my current situation doesn't pan out, then I would be very interested in this venture. My capital may not be as great seeing as I'm technically just getting started in life, but I'd be able to provide in the photography and law (to a certain extent) side of things.
I will have a better idea in a week or two, and will give you a shout if I want to know more.
I think everyone has to think thru the issues very seriously.
For those who are planning to settle down in Singapore, u have a very impt decision to make.
For those who will be quitting their jobs, this venture wld mean no more job security and regular income. So pse consult yr wives and girlfriends...
Most imptly, it wld mean a lifestyle change, having to work probably weekends and public holidays.
So bear in mind all these. It is a personal choice to make, it shld not be the case of no job or unhappy with current job, so settle for this venture.
For those who are planning to settle down in Singapore, u have a very impt decision to make.
For those who will be quitting their jobs, this venture wld mean no more job security and regular income. So pse consult yr wives and girlfriends...
Most imptly, it wld mean a lifestyle change, having to work probably weekends and public holidays.
So bear in mind all these. It is a personal choice to make, it shld not be the case of no job or unhappy with current job, so settle for this venture.
V
verkz
Guest
just a suggestion :
looks like there may be a market for printing of photos from digital files...
looks like there may be a market for printing of photos from digital files...
lavenderlilz
New Member
just a suggestion, if you don't have much start up capital - why don't u run an online business initially - ie tap business from fellow clubsnappers before opening a real shop so that you can be spared of some initial expense for rental?
Thanks for the many suggestions.
Maybe, online is good, cut rental but disadv is that cannot svc tourist and walk-in customers. Have to discuss more in details when we meet. All ideas are welcome!
For those who wanna start an printing of photo business, why dounch u go ahead and start another thread relating to this venture. I do agree that it is ridiculous to pay handling fees...so there is another avenue for another startup. We can interlink with each other.
As for Digipix, why dounch u start another that svc pple who wanna do studio shots? I mean I was just at Pacific Plaza the other day and say so many girls doing glamour shots! Another opportunity there!
Maybe, online is good, cut rental but disadv is that cannot svc tourist and walk-in customers. Have to discuss more in details when we meet. All ideas are welcome!
For those who wanna start an printing of photo business, why dounch u go ahead and start another thread relating to this venture. I do agree that it is ridiculous to pay handling fees...so there is another avenue for another startup. We can interlink with each other.
As for Digipix, why dounch u start another that svc pple who wanna do studio shots? I mean I was just at Pacific Plaza the other day and say so many girls doing glamour shots! Another opportunity there!
The hotselling items should be the consumer digicams. I'm not sure what the profit margin on these are, but from some conversations with some owners, the margin is not high. One even claimed that AP was selling some items below cost. I do know for a fact that profit margin for computer hardware is about 2-3% only. So I think that you guys might not be able to compete on price. Of course the margin on SLRs, lenses and other accessories are higher, but they're not so high volume.
True true...
But seriously, does a shop depend a lot on walk-in customers?
I'm not sure about a *not web savvy* consumer thinks...
For those who are web savvy, they will tend to do some "research" on what shops to go, what to get and stuff like that...
And I think tourists are starting to do their homework before coming to their destination to shop...
Reputation is darn important, but the shop deco must be decent as well.... Seriously, impressions count!! Look at those shops @ SLS, some of them must have really spent a bomb on deco.
lavenderlilz
New Member
whilst its true that online business can't attract walk-in customers. The reason why I suggested it as an initial set up is because the ones who are willing to spend money on camera equipment are enthusiasts like the fellow CS members. If service and the prices offered are competitive enough, this may lead to more business by word of mouth.
As for walk-in customers, those with close to zero knowledge about cameras usually go to places like Best, Harvery Norman, Cathay (maybe).....
As for tourists - lots of them (ie those who don't do their homework about pricing) - they usually just go to any old store. Of course it would be nice if they come to your shop too.
But my proposal is more for the starting & if your business expands ... of course should try and tap the walk-in and tourist market as well.
my 2 cents .....
Hi Jeff,
I like your ideas but since I have a day job with a respectable fix income, I'll give it a pass. That said, I've a few ideas ...
1. Sell equipment, of course!
2. Sell professional services? Perhaps some of us here are qualified enough. Can also liase with well known pros photogs as well. Need contacts tho...
3. Sell consumer type services. Such as digital prints. Slides/Negatives/Prints scanning.
4. Not sure if equipment rental is a good idea here tho. For a start, perhaps can try lower-end stuff, like big flash guns, TCs, extension tubes etc. Basically items which you don't really use everyday but does not really cost a bomb type.
I would thought appealing to the mass market is really a more viable option. Of course, must be flexible enough to serve the occasional pros as well.
Best of luck to you if you indeed go ahead with this plan
Regards,
JK
I like your ideas but since I have a day job with a respectable fix income, I'll give it a pass. That said, I've a few ideas ...
1. Sell equipment, of course!
2. Sell professional services? Perhaps some of us here are qualified enough. Can also liase with well known pros photogs as well. Need contacts tho...
3. Sell consumer type services. Such as digital prints. Slides/Negatives/Prints scanning.
4. Not sure if equipment rental is a good idea here tho. For a start, perhaps can try lower-end stuff, like big flash guns, TCs, extension tubes etc. Basically items which you don't really use everyday but does not really cost a bomb type.
I would thought appealing to the mass market is really a more viable option. Of course, must be flexible enough to serve the occasional pros as well.
Best of luck to you if you indeed go ahead with this plan
Regards,
JK
Many thanks for the well wishes and excellent contribution of ideas. Like I say, all ideas are welcomed.
I think there need not be contradiction in terms of both online and retail concepts, as both can be complimentary. However, we really need to discuss further in private, rather than in an open forum like this.
I really appreciate all your comments and ideas, and it wld even be better if you guys can show up on this Sat or Sun. Even if you are not an interested party, but just wanna contribute ideas.
Alternatively, if u cannot make it but still wanna contribute ideas, pse email them to me in private, chenjeff@singnet.com.sg. I will then share them with those attending.
Once again, appreciate all yr inputs! Look forward to receiving them in my inbox! Thanks.
I think there need not be contradiction in terms of both online and retail concepts, as both can be complimentary. However, we really need to discuss further in private, rather than in an open forum like this.
I really appreciate all your comments and ideas, and it wld even be better if you guys can show up on this Sat or Sun. Even if you are not an interested party, but just wanna contribute ideas.
Alternatively, if u cannot make it but still wanna contribute ideas, pse email them to me in private, chenjeff@singnet.com.sg. I will then share them with those attending.
Once again, appreciate all yr inputs! Look forward to receiving them in my inbox! Thanks.
hi i interested too
but dunno wat to help too
presently out of job lor
but i think u also need to know where to open a shop
or online only lor
since getting a shop in a shopp cte or a HDB estate will be diff in rental too
one of my friend who is also setup a small shop in far east with a small cap also finding it hard to survice too
guess we need to have word of mouth to help the new shop lor
the service and know how, a website for the shop?
and lastly the price too since we r all sporeean look at the price ehhee
i will email to u jeff dunno wat i could help lor
but dont mind to go learn too since i'm bored at home too
still looking for fulltime jobs :dunno:
but dunno wat to help too
presently out of job lor
but i think u also need to know where to open a shop
or online only lor
since getting a shop in a shopp cte or a HDB estate will be diff in rental too
one of my friend who is also setup a small shop in far east with a small cap also finding it hard to survice too
guess we need to have word of mouth to help the new shop lor
the service and know how, a website for the shop?
and lastly the price too since we r all sporeean look at the price ehhee
i will email to u jeff dunno wat i could help lor
but dont mind to go learn too since i'm bored at home too
still looking for fulltime jobs :dunno:
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