Hey frens…I have been feeling “called” for several years to open a local retail shop (with online as well). It’s retail, but with a higher purpose. I recently had an opportunity open up for me: a small space, in a great location, at an affordable lease rate that will allow me to launch, start small, be self-funded, and grow over time.
Am I crazy for considering this during a time of growing inflation, pending doom in our economy, etc.? Or the contrary? Maybe getting started with a modest inventory is the place to be when SHTF, and then I’m poised and ready for the full “great awakening” financial comeback of the middle class?
My store type does not supply “essential” goods, per se, but definitely items that people will seek out to add more joy to their lives (a good thing when times get rough?).
I feel like God is leading me down this path, but I’ve not made the best financial choices in my past, having had horrible timing, so I’m trying to explore all avenues. Any thoughts and ideas are welcomed!!
Exactly this. And, try pitching the idea to a bank. It will make you have to go through the process of laying out the business mathematically. Plus, if they are willing to lend you money it gives the concept credibility. If they don't, then reconsider. Also I would consult your local SBA who can help you prepare a business plan and they have many seasoned and experienced people to talk through your ideas with.