Question for Everyone Regarding My New Business

[Rainey]

Lately, I've been trying to brain storm a few ideas for my business, since hopefully I'll be able to open soon. (:smt102 super slow Hattiesburg City Hall)

Also, sorry for the wordy title... didn't really know how to phrase it.

Ok, here is the first idea that I will ask the amazing people of MH. What would be a good rate to charge for a discount card for my store. Let us say that it would take an additional 10% off the merchandise after the initial discount has been taken from the retail value.. It would make something that was 50% off now 55% off. I'm not trying to over charge for this card because the main purpose is to get people wanting to come back again and again.
A small business can only succeed on repeat customers, so I was thinking this was a good idea to get people coming back.

Thanks in advance to anyone who tries to help! :)

[HubDawg]

Rainey, I've read about you opening up a business but I don't think I ever saw what kind of business. What exactly is it that you'll be doing? selling? Thanks.

[Rainey]

Rainey, I've read about you opening up a business but I don't think I ever saw what kind of business. What exactly is it that you'll be doing? selling? Thanks.

Right now, it's basically a clothing store with a few other items (electronics, purses, pc software). So, the average ticket is probably going to range from $20-$100. I probably should have included that on the initial posting.

[Fire Extinguisher]

Purses? Dont tell my daughter, she thinks she has to have a new one every darn week!

[g8rfan]

Are you talking about a card like Books A Million has? I think it's $10 or $15 and gets you an additional 10% off.

Can I ask how you decided to mix clothing and purses with electronics and PC software? Sounds like an odd mix of merchandise. Not sure what kind of clientele you'll be drawing with that mix but I don't think it would be the type to buy a frequent buyer card. You might be better off handing them a card good for a discount off of a future purchase.

[aaron]

This is a tough one. What you want to do is make it enough so that they come back to your store just to justify having it, but not so much that they don't buy it in the first place.

[betsy]

I hate those cards. I only use one at Books-A-Million. I agree with g8ter. You could give cards for future purchases.

[EricStratton]

You may want to give the discount cards away at the beginning to get some customers in or give them to anyone who spends over $50 or $100 in your store in the first six months....tell them the card is good for six months or a year.....then, once you've built a solid base, start charging for the cards....just an idea....I'm probably not qualified to answer business-related questions since my wife doesn't even let me use a checkbook or debit card anymore....I'm just looking at it from a consumer's perspective...

I use my BAM card religiously....it's worth having for someone who buys as many books as I do.....

[itsmyopinion]

You may want to give the discount cards away at the beginning to get some customers in or give them to anyone who spends over $50 or $100 in your store in the first six months....tell them the card is good for six months or a year.....then, once you've built a solid base, start charging for the cards....just an idea....I'm probably not qualified to answer business-related questions since my wife doesn't even let me use a checkbook or debit card anymore....I'm just looking at it from a consumer's perspective...

I use my BAM card religiously....it's worth having for someone who buys as many books as I do.....

So do you get a weekly cash allowance??? I need details on this little program - I might try it on my hub... :kekeke:

[EricStratton]

So do you get a weekly cash allowance??? I need details on this little program - I might try it on my hub... :kekeke:

I'm on an "As Needed Program", if I need lunch money or if I need to make an essential purchase, I call my wife and she gives me permission to use my ATM/debit card......

I used to hate when my wife worked for the bank.....I'd buy something and before I could get in the car, she'd call and ask me why I just spent that money!!! These damn computers!!

Now that she's in outside sales, she only checks our bank account about 8 times a day instead of 80....

[jkspatty]

Discount cards work, but you need to get the word out starting yesterday about what products you are going to offer. You should start creating buzz about your products now. You have to be more specific than clothes, purses, electronics. What is your target market? trendy teens or the older, more sophisticated consumer? Answering these questions will help in guiding you to what marketing strategies will be most effective.

[thornton04]

I'm on an "As Needed Program", if I need lunch money or if I need to make an essential purchase, I call my wife and she gives me permission to use my ATM/debit card......

I used to hate when my wife worked for the bank.....I'd buy something and before I could get in the car, she'd call and ask me why I just spent that money!!! These damn computers!!

Now that she's in outside sales, she only checks our bank account about 8 times a day instead of 80....

This system seems to work very well with hendrix also ;) :smt023

[daisy]

Purses? Dont tell my daughter, she thinks she has to have a new one every darn week!

Discount cards work, but you need to get the word out starting yesterday about what products you are going to offer. You should start creating buzz about your products now. You have to be more specific than clothes, purses, electronics. What is your target market? trendy teens or the older, more sophisticated consumer? Answering these questions will help in guiding you to what marketing strategies will be most effective.

We had a store in my hometown that covered all ages and worked well.

females

What niche will you be covering that is not covered in that area? could be product,atmosphere ,service etc; Figure out what makes you have someting diifferent and build on it.



a lot of this will evolve as you go.

Best of luck.

[Rainey]

This is a tough one. What you want to do is make it enough so that they come back to your store just to justify having it, but not so much that they don't buy it in the first place.

Yep, that's the dilemma lol

[Rainey]

Are you talking about a card like Books A Million has? I think it's $10 or $15 and gets you an additional 10% off.

Can I ask how you decided to mix clothing and purses with electronics and PC software? Sounds like an odd mix of merchandise. Not sure what kind of clientele you'll be drawing with that mix but I don't think it would be the type to buy a frequent buyer card. You might be better off handing them a card good for a discount off of a future purchase.

I don't know, it just seems like cliche stores in Hattiesburg typically go out of business in a few years. So, I decided I would have a variety of items that would try to bring in as many people as possible. Just trying to give a good deal to everyone in these tough economic times.

[jkspatty]

Rainey, you will probably try many promotional/marketing strategies before you find the one that is most effective. Just don't be afraid to take a few risks along the way. Good Luck and get ready to work your tail off.

[Rainey]

Discount cards work, but you need to get the word out starting yesterday about what products you are going to offer. You should start creating buzz about your products now. You have to be more specific than clothes, purses, electronics. What is your target market? trendy teens or the older, more sophisticated consumer? Answering these questions will help in guiding you to what marketing strategies will be most effective.

Sorry, I wasn't really trying to advertise on this site. I didn't know if that was frowned upon or not. However, since you are asking...

I am aiming specifically toward 30+ women when it is coming to clothing, with brand names such as Alfred Dunner, Bandolino, Caribbean Joe, Elementz, Energie, John Paul Richard, Mercer Street, New York Collection and more. Also, I have a few garments from American Eagle and Aripostle, and Old Navy for the younger crowd. However, that could all change in my next shipments. I know how some people preach continually when it comes to store inventories, but that is simply not my business model.

[Rainey]

Rainey, you will probably try many promotional/marketing strategies before you find the one that is most effective. Just don't be afraid to take a few risks along the way. Good Luck and get ready to work your tail off.

Oh, for sure. I was just wondering people's thoughts are on this idea. I'll always be evolving, or I'll become extinct. :ohnoes:

[chaz]

I don't know, it just seems like cliche stores in Hattiesburg typically go out of business in a few years. So, I decided I would have a variety of items that would try to bring in as many people as possible. Just trying to give a good deal to everyone in these tough economic times.

I was trying to piece together where software came in with clothing. I understand wanting to survive in the long haul, but most businesses can't make it a year. It seems you might spread yourself too thin on each product line and lose focus. It's all about the focus.

Good luck!

[Rainey]

I was trying to piece together where software came in with clothing. I understand wanting to survive in the long haul, but most businesses can't make it a year. It seems you might spread yourself too thin on each product line and lose focus. It's all about the focus.

Good luck!

My store is extremely tiny, and the product besides clothing might take up 10 to 15% of the space? So, I'm staying focus but just have a little variety. However, thanks for the kind advice!

[EricStratton]

It's so refreshing when people are sweet to each other on here....

Rainey, you gonna be selling shoes? My wife could probably keep you in business by herself......don't know what I'm gonna eat, but if you got nice, expensive shoes, my wife will probably buy em....

[Rainey]

It's so refreshing when people are sweet to each other on here....

Rainey, you gonna be selling shoes? My wife could probably keep you in business by herself......don't know what I'm gonna eat, but if you got nice, expensive shoes, my wife will probably buy em....

Haha, shoes were one of my original ideas but Payless shoes is the "anchor" store in the shopping center and has in there lease that the majority of my sales can't come from shoes. However, it doesn't rule out having shoes for sale. However, I'm playing sweet until they move their dumpster out of my way :attack:

[daisy]

Rainey, I had a boss that suggested I buy sparingly for an art center I once ran until I got the feel of what sold and what didn't. I am talking about books and other item.

Most of my inventory couldn't be sent back to the company warehouse for credit. My inventor came from outside vendors.

I had to keep some art supplies and suggested materials for each artist and also abide the purpose or theme ((((art instruction and Park history in art or photography.))) of that store. My store couldn't be mass souveneirs like others could. Not in the contract with NPS. It was concessionaire run--the retail part--my employer and National Park Service owned--the building.

My point is follow your instincts and interests. If you like something, there are other people that do also.

Just keep a notebook of yearly things. Also a notebook of contacts and when I worked here at a store in hattiesburg, we had to send out postcards of thanks for a purchase...., coming events--sales :clap:and lines coming in.

I also worked with a lady that told me to write down every thing that customers asked for that was not stocked or the buyer pooh-poohed.

She opened her shop with those requests and vendors she met from going to market. She had a financial silent partner. She knew the clients and what they liked. Most of those clients followed her.


Also the store here in Hattiesburg closed--the owner retired first.

Try what you think and see.

[Rainey]

Rainey, I had a boss that suggested I buy sparingly for an art center I once ran until i got the feel of what sold and what didn't. I am talking about books and other items.

I had to keep some art supplies and suggested materials for each artist and also abide the purpose or theme ((((art instruction and Park history in art or photography.))) of that store. My store couldn't be mass souveneirs like others could. Not in the contract with NPS. It was concessionaire run--my employer and National Park Service owned--the building.

My point is follow your instincts and interests. If you like there are other people that do also.

Just keep a notebook of yearly things. Also a notebook of contacts and when I worked here at a store in hattiesburg, we had to send out postcards of thanks for a purchase...., coming events--sales :clap:and lines coming in.

I also worked with a lady that told me to write down every thing that customers asked for that was not stocked or the buyer pooh-poohed.

She opened her shop with those requests and vendors she met from going to market. She had a financial silent partner. She knew the clients and what they liked. Most of those clients followed her.


Also the store here in Hattiesburg closed--the owner retired first.

try what you think and see.

Thank you. Very good advice !

[Checkers Boy]

Clothes and software?

Don't they do that at Wal-Mart?

If I'm stepping foot in a boutique, it's for the specialty items. I'm not hoping to pick up the latest gaming title along with some fashionable items. I think at best, you may confuse people. At worst, you look like you don't know what you're doing. Just my opinion, though. Good luck!

[Rainey]

Clothes and software?

Don't they do that at Wal-Mart?

If I'm stepping foot in a boutique, it's for the specialty items. I'm not hoping to pick up the latest gaming title along with some fashionable items. I think at best, you may confuse people. At worst, you look like you don't know what you're doing. Just my opinion, though. Good luck!

Thanks for the advice. lol Hopefully the population of Hattiesburg does not think like you.

[g8rfan]

Alright y'all... I went and met Rainey and checked out his new store yesterday! :clap:

He's got mostly women's clothes. There were lots of brand names and a wide range of sizes. There were some pretty cute skirts, capris and tops. He also had a few baskets of cosmetics, I bought some pretty nail polishes and lip glosses. :smt061

He's on 98 behind the Payless and the dental clinic (can't remember the name).

Y'all need to get out there and support our fellow MHer :smt023 You don't wanna miss the deals and he's a really nice guy!

[Rainey]

Alright y'all... I went and met Rainey and checked out his new store yesterday! :clap:

He's got mostly women's clothes. There were lots of brand names and a wide range of sizes. There were some pretty cute skirts, capris and tops. He also had a few baskets of cosmetics, I bought some pretty nail polishes and lip glosses. :smt061

He's on 98 behind the Payless and the dental clinic (can't remember the name).

Y'all need to get out there and support our fellow MHer :smt023 You don't wanna miss the deals and he's a really nice guy!

Thanks! It was a pleasure to meet you as well :)

The dental clinic is Tillery Dental Clinic.

[Rainey]

Thanks for coming by EOT! It was great to meet you and your wife.

[bratprincess1920]

I'll try to drag my boy over there with me saturday before we leave for mobile.

And, just a thought. The product that I've noticed most women of all ages in the hattiesburg area wanting? North Face Jackets. At Gander, we cannot keep them in stock. If someone opened a store just selling North Face and Columbia products, I bet it would last for quite some time.

[jkspatty]

I'll try to drag my boy over there with me saturday before we leave for mobile.

And, just a thought. The product that I've noticed most women of all ages in the hattiesburg area wanting? North Face Jackets. At Gander, we cannot keep them in stock. If someone opened a store just selling North Face and Columbia products, I bet it would last for quite some time.


I know, with this bitter cold and harsh windy conditions here in south ms you would think there would be a store that sold quality weather resistant outerwear. LOL :laugh:

[Rainey]

I'll try to drag my boy over there with me saturday before we leave for mobile.

And, just a thought. The product that I've noticed most women of all ages in the hattiesburg area wanting? North Face Jackets. At Gander, we cannot keep them in stock. If someone opened a store just selling North Face and Columbia products, I bet it would last for quite some time.

Sounds great!

[jkspatty]

Do you have a sign up Rainey? What is the name of the business?

[Rainey]

Do you have a sign up Rainey? What is the name of the business?

Yes and the name is True Bargains.

[bratprincess1920]

I know, with this bitter cold and harsh windy conditions here in south ms you would think there would be a store that sold quality weather resistant outerwear. LOL :laugh:

That's why its so funny that everyone wants one, because its a fad. Nearly every female on campus last year had one on. And anytime Gander gets any in, they are gone in less than a week. :laugh:

Though, now the fad is the Guy Harvey stuff. Half the people I see coming into the store has a Guy Harvey shirt on. I want to see if North Face will still be the big thing when school starts back up, or if something has replaced it.