I own a hair salon. Typically, November is my busiest season. It has been SO quiet. A lot of my colleagues are also saying the same thing and have had to close up shop because of it - or get a second job.
People keep saying it will get better and the economy will bounce back but I don’t know. I am so close from just throwing in the towel, closing up shop and getting a corporate gig.
Have you considered online sales ? Is that something that might help? Listing some inventory on eBay/Amazon etc
I don’t know anything about the storefront retail space but I know that if you have access to quality inventory you might be able to find some success online?
E commerce has a host of issues itself. Although helpful in the short term, there are state sales tax nexus issues that would need to be addressed and can take time/money to do correctly. (US based store assumed, SOUTH DAKOTA v. WAYFAIR, INC., ET AL. 2018).
Interesting. I agree there’s a ton of logistical issues to work out.
I only ask because I’ve been selling on Amazon since 2018 and I’ve seen a growing trend of smaller shops that I compete with are actually full blown retail stores that just send shipments out the back.
If you ever dip your toes in the Amazon water and have questions feel free to dm me.
In most states, the reporting threshold is $200k in annual revenue in that state, or 200 transactions. Can’t hurt to dip your toes into e-Commerce, and if you are getting to the point where you are doing that much business in a single state, it makes sense to set up the tax nexus. There are services nowadays that handle all the paperwork for you.
Ebay handles all the state sales tax…
We do list on eBay. I generally prefer to sell things in store and keep stuff circulating locally (sell someone a $100 game and then maybe they trade it back in and I can sell it again), however if something of value sits for a few weeks, I have no problem listing it.