talkmagic.co.uk

Hi there everyone.. Without being to personal regarding anybodys business details, was wondering is the magic business in the UK at this present time a worthy profit?? The reason I am asking is very soon will be running my own on line magic shop, but dont want to be going around in circles trying to make a tidy profit. Any feed back will be ok here, just to help me along the way. Thanks Garry

mr invisible wrote: was wondering is the magic business in the UK at this present time a worthy profit?? The reason I am asking is very soon will be running my own on line magic shop, Thanks Garry

Hello Gary,

There are many business's out there at the moment competing for our business, not just the magic industry.
Cash flow has been hit hard in many UK house holds. What with increases in Gas/Electricity, & fuel, not to mention many other product
rises. All of this combined with no pay increases, & job loses. I don't want to be the bearer of bad news, but you must no how the financial climate
is at the moment.

Having said that, that's not to say that going self employed is a recipe for disaster.
Having something that no one else has is always a good thing to have.
Good customer service is one of the most important things, & keeping over heads to a bear minimum is important too.
If your working from home, then you can probably sell cheaper than most retail shop owners.
Ask yourself, why would people want to shop with me.
Can I offer a better service, cheaper, & with the same turn around time table.
Gaining the trust of people who already have a good supplier isn't going to be easy, ask yourself how your going to gain that trust.,

I could go on. I have been in business for over 25yrs successfully, both in retail, & property, but it's not all been plain sailing.
If it was, everyone would be doing it. If I can help, then drop me a PM.

With a free Pkt of cards of course.

Good luck.

CArl...

Times are hard, there's no denying that. If you go into any kind of retail looking for a fast buck you'll fail. If you invest your time and money for the longer term you may make it, but the secret seems to be a combination of price, diversity, service and approachability.

Hi Garry

Have you looked into getting wholesale accounts?

There are already many online shops that offer a very good/fast service so I would think it would take a long time to build up a good customer base as many people use a company they already know and trust.

Gochos The Greek wrote:Hi Garry

Have you looked into getting wholesale accounts?

Thanks for your feedback...To be honest not looking to go down the Wholesale account road, I am lucky enough to have a nice sum of cash to invest into a hopefully good on line magic shop???????

Thanks guys for your honest feed back..It has helped

If you don't get a wholesale account are you planning on buying at retail, adding a markup and then being more expensive than all the other retailers who do buy wholesale? If so, I think I may have spotted a flaw in your business plan.

isb wrote:If you don't get a wholesale account are you planning on buying at retail, adding a markup and then being more expensive than all the other retailers who do buy wholesale? If so, I think I may have spotted a flaw in your business plan.

Hi there, good point, but quite the opposite to be honest!