Tuesday, February 11, 2014

Should I Stay or Should I Go: The Debate on Moving to a Brick and Mortar

Darien Drive by Sarah McTernen
It started out as a simple question:  What is stopping us from having physical location?  This simple question had a simple answer: money.  You would think it would end right there, but it didn't.  This sent me on a week long run all over town seeing if it was possible.  If owning a brick and mortar physical location was the next step for Ardent Life.  In the end, the answer is no, not yet, but here are some things I learned.

1.  Business Insurance is not as scary or expensive as I thought it was.  Not that I haven't talked with my insurance agent many times over the years, but I had always thought business insurance would be a complicated process.  Not so much..

2.  There are a LOT of different types of leases.  It is not only important to know what type of lease you are looking at but also the rules of said lease and the expectations of both parties.

3. My city doesn't have a lot of interesting retail spaces.  I found one I liked.

4. I really love the concept of having my own shop.  There is part of me that wants to take the risk and just do it.  There is another part of me that understands reality to a better degree.

5. I need to write up a business plan. (I know, I know.  I should have done that 9 years ago).

I can see owning a shop in my future. I can see it being a success.  I cannot see it happening right now as I am trying to get back into the game.  I have been only dabbling in work the last few years due to my daughter's health.  This year will be focusing on building Ardent Life up, growing consignment opportunities and networking in the community. 

We'll revisit opening a shop in a few years.

What do you think?

Best wishes,
Sarah McTernen

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