New revenue streams

Eircom_Sucks

Keeping it brief

Business owner for past 10 years , business currently turning over 1 million per year , but between the shop and warehouse and stock and staff , not much left in the pot

I have a website i sell from too , but thats not picking up much traffic ( looking into this at the min )

Wrecking my head to create more revenue , and all ideas welcome

CIARAN_BOYLE

We don't know enough about the business to say.

Are you fully utilising you warehouse capacity? If not can you rent a corner out to a neighbour that's over full.

1 million in turnover is a level where a lot of small enterprises struggle. They are big enough that they may spend a lot of money on internal functions (accounting/bookkeeping/marketing/it) that should be outsourced.

Pronto63

CIARAN_BOYLE wrote: »

We don't know enough about the business to say.

Are you fully utilising you warehouse capacity? If not can you rent a corner out to a neighbour that's over full.

1 million in turnover is a level where a lot of small enterprises struggle. They are big enough that they may spend a lot of money on internal functions (accounting/bookkeeping/marketing/it) that should be outsourced.

Read the other day that with companies stockpiling in anticipation of Brexit Dublin warehouses are at 94% capacity.

If you're in Dublin and have capacity it's worth looking at.

Eircom_Sucks

Musical instruments is the buz

Warehouse isnt big and just about big enough for us

pedroeibar1

BS thread. - According THIS you're earning over 100k in an IT role (among other great job gigs you have!). Go away and get ready for school Mr. Mitty.

CIARAN_BOYLE

Eircom_Sucks wrote: »

Musical instruments is the buz

Warehouse isnt big and just about big enough for us

Try coming to arrangements with music schools and similar to sell in bulk.

Also I dunno if you sell second hand or repair instruments but if you don't find partners who do and act as a middleman where you earn commission.

You say you have a shop. Is there any thing you could pair with instruments that you could sell.

If you have a website is it online selling only or can you order online and collect in shop? If not try and add that functionality.

I still don't have enough information to make solid suggestions so just throwing some things out.

pedroeibar1 wrote: »

BS thread. - According THIS you're earning over 100k in an IT role (among other great job gigs you have!). Go away and get ready for school Mr. Mitty.

Mate did that, is what the quote says?

pedroeibar1

CIARAN_BOYLE wrote: »

Mate did that, is what the quote says?

How about THIS one?


As for the initial post, nobody has a t/o of €1 mio a year in the music instrument business plus being in business for 10 years has no profit. Say the average price of a high priced item e.g. a piano is €3,000. A €1 mio t/o means the OP is selling one piano a day every year. Change that to smaller items e.g. guitars - most electric guitars cost €150 (beginner) €500 (intermediate) €1,000+ (top end) so his unit sales would be far higher. Take 350 as the average retail - that means about 3000 units a year. Mittyland

Gloomtastic!

Ok. I'm going to lock this thread for the time being. OP, if you want to contact myself via PM and convince me that your enquiry is genuine, then I'll reopen it. Asking on behalf of a friend/relative doesn't count.

The Gloomster!