I own a rundown supermarket that sells Asian food products, health food, herbal, arts and paintings. My store locates at the center of Oklahoma City Uptown District. Every buildings around mine are developing and businesses are booming with stores that include cake, bagel, pizzas, bars, coffee shops, taco, restaurants, clothing, arts, tattoos shops, and a theater.
Despite a good location for development of new businesses, I ran out of ideas and investment capital.
Can you guys tell me something in your mind? I am open for every idea and I promise that I will appreciate you and seriously think about whatever you can tell me
#1. "RE: I ran out of ideas for my business" In response to Reply # 0
One possibility that jumps out at me -
If your building space is too large for your needs, consider dividing the building into a number of smaller boutique shops and rent them to others who want to start a business in your neighborhood, but don't need a full building to themselves.
You'd gain valuable rent (monthly cash flow) and at the same time, draw move people into your building, which could benefit your sales volume.
SCORE could help you with such a project, as far as giving you ideas, and a possible source for financing the building conversion/renovation.
They could likely point you to a group of angel investors as a source for funding the conversion.
Alternately, you might consider selling or leasing the building if the demand for space in your neighborhood is in high demand. The passive income from rent is only subject to Social Security (FICA) taxes, not income taxes.
Dennis Bevers BASSCO, Inc. Full-time, home-based, self-empolyed since 1987. Dealers needed-US residents only!
#2. "RE: I ran out of ideas for my business" In response to Reply # 1
Thanks Dennis. So ... I it looks like the first step in returning my business to a productive one is to meeting with the SCORE at a college in Oklahoma City. Have you been with SCORE before? What document and information I should bring to the meeting? Thank you very much for your times, guys! -Teresa
#8. "RE: I ran out of ideas for my business" In response to Reply # 0
Here is an outta the box idea:
1. Invite local chefs or cooks to rent space in your location to sell their food - this will generate traffic into your store to see what you have to sell. 2. Get out of your store and participate in some local events (charities are the best) - do some events where you can rent a table and sell what you can from out of your location 3. Hold a in-store event, cocktail party, regular block-type party, charity event etc. Invite other vendors to participate in the event. 4. Have an Asian day event - where you introduce folks to your culture and food - than sell sell sell. Have other Asian vendors participate, i,e, painters, dancers, food, etc.
#9. "RE: I ran out of ideas for my business" In response to Reply # 8
Oh Michelle...you are so helpful and I appreciate it very much. Your outa the box ideas are great and actually I can do a cocktail party and/ or an Asian day event. However my business is really in so bad shape now; doing so may be counterproductive at this time. I will think about it real hard and if my business could be better I definitely will hold a few events like those.