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Opening up a small boutique HiFi shop in retirement?

EERecordist

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I would suggest taking a small business class. Many US towns have a chapter of SCORE.org. Who is the customer for the expected time span of the business? Young people may have different interests. What are the financials of the business plan?

If you have the skills, there is a steady business in vintage repair. I'm in admiration of ReeltiReelTech near Vancouver Canada. The guy was one of the only people for years repairing vintage CRT video projectors and now he is repairing and restoring vintage tape decks.

Have fun whatever you decide!
 

Doodski

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Set up a spreadsheet. Outline a years worth of applicable expense: rent, utilities, connectivity, licenses, fees, insurance, furniture, inventory, plus?
WoWoW! That is going to be one a heckuva spreadsheet but you are 100% correct and that is the best advise. Model it...
Assume 0 income during the first year.

Can you survive and continue?
Yeppers interesting question. I was managing a AV store with me, a technician and apprentice, 2 young guys doing all the loose ends and labor intensive stuff and 2 sales guys. All full time employees. I had extra responsibility but not as comprehensive as what @restorer-john laid out in his comment a ways back in this thread. The boss man/owner left for a vacation trip he won in a sales contest from a manufacturer. He was in a far away sheit hole country tropical destination. Anyway.... He simply disappeared for 6 weeks when he was supposed to be gone for 2 weeks. He never telephoned me or anything/nothing @ all. I had a dozen signed blank cheques for whatever I deemed them fit for. So I could deposit @ the bank, cash a cheque(s) or write cheques but not withdraw or transfer funds. So... We had to improvise and run everything from daily sales cash and resulting deposit totals. I and the sales staff and even the labor guys where selling as effectively as we possibly could. We made every sale count. We had a hand to mouth existence in order for me to write a cheques and pay the staff so we could remain operational. So I wrote cheques, cashed them in and divided up the cash money according to each persons' rate of pay and by using the old pay stubs and cheque book amounts I was able to keep everybody satisfied and not running out the door looking for another job. So to answer your question assuming no income and survival if there is there determination and the intention to push through to the other side it can be done but man alive is it a awkward and stressful way to operate. :facepalm:
 

RayDunzl

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Except for the main speakers (bought in 1998), it all came from internet stores and eBay (used stuff) and Amazon and the junk box from work (retired in 2002)..

I'd wager the last time I was in an actual Audio Store the calendar started with a 19.

Oh, wait, the TV came from Sam's Club, saw one I liked while getting groceries and ordered online with "free" delivery.

PS: I am not now, nor ever was, nor ever will be, a "salesman".
 

Doodski

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PS: I am not now, nor ever was, nor ever will be, a "salesman".
I have seen more than several "Salesmen." They sell anything and I mean most anything, don't believe in the product and they accept/take any sales job and do OK at that. Me I did audio gear sales only because that was my thing and no other thing interested me. I had a succession of opportunities that where all in-store and so I climbed the ladder. I believe to sell one must believe in the product and be loyal to the brand(s) or else you are simply clerking it. To be a general salesman of any product that writes a pay cheque as you kinda alluded to to me is kinda yucky and not my thing. :D
 

Colonel7

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Don’t do it for all the reasons already given. By the time you retire technology will have moved on anyway.

My advice for a working retirement is to work part-time retail for a mom and pop type business. Like drinking single malts and beer with your friends? Don’t buy the bar, get a couple night a week gig at the local liquor or package store. Like coffee and live music? Do the same at a quirky but busy coffee shop. At least you’ll walk away from a nights work with money in your pocket and a discount on products you enjoy. Like hi-fi? Ummmmm, no suggestions really work-wise. But the meet-up idea is a good one or you can go one better and start an unofficial private club. Even those have their risks though.
 

mhardy6647

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Hifi salespeople, ca. 1977.




In fairness, and in full disclosure, I knew some of those people in the catalog scans above and they were good folks in every respect. At least two of them are no longer with us, sadly.
 

Doodski

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Hifi salespeople, ca. 1977.




In fairness, and in full disclosure, I knew some of those people in the catalog scans above and they were good folks in every respect. At least two of them are no longer with us, sadly.
This part of the operation is pure genius in it's simpleness and effectiveness at customer retention, repeat customers and on and on... Beautiful program for everybody involved. I would implement this in a heartbeat.
service 1.png
 

Mikig

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I had the opportunity a few years ago, but having already had a business I had to leave.

Sometimes I regret it, I would have really liked it, but what I saw in the period in which I lent a hand to my shopkeeper friend, objectively makes me think that it was better that way...

the risk of having to "pay to have a job "It's very tall...
 
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CleanSound

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These kind of boutique audio clients really wouldn't want to know about spinorama, sinad figures, let alone how 99% of valve/tube amps (or solid state amps designed to mimic that kind of effect on speakers) equalise the speaker response depending on load with masses of added low bass distortion to add to the speaker struggling low down - I've been there just recently with a dear old friend of mine - the fifty year friendship is infinitely more important to me than falling out over a hybrid amp with poor bench performance but a 'charming' tone into many speakers including his own...
Just catching up.

No truer words have been spoken in audio sales. Come to think of it, I have not been to any HiFi shops where there is no foolery of the likes of talks of system synergy matching, amps having a sound signature, analog sounds more natural than digital, micro details, system not resolving enough, even the wife can hear it from the kitchen and yes, allocating 15% of your budget for cables.

Every single patron in the stores that I have witness eats this crap up and then they go around regurgitating this diarrhea to more people and it multiplies.

Thinking about it, I don't think a HiFi shop can be successful if they explained the science and told the truth (assuming they even knew the science and truth), maybe with the exception of @Purité Audio. The eco-system is not made for that.

And even if I am willing go down that foolery route in order to keep the business afloat, I don't know enough of the foolery to fool anyone.

Yeah, mission abort.
 

Doodski

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Thinking about it, I don't think a HiFi shop can be successful if they explained the science and told the truth (assuming they even knew the science and truth), maybe with the exception of @Purité Audio. The eco-system is not made for that.
I told the truth based on subjective listening to speakers combined with the better warranty terms and quality hence I sold a ton of KEF at the time and ENERGY too. For cassette based on frequency response, wow and flutter, how many motors and 3 head. For amps/receivers current capability, dynamic power output linearity a la' low Z and lotsa wattage. For CD I sold them the best for the money and that matched their amp/receiver. I sold so much Yamaha audio gear that I had a new awesome Yamaha stereo at Christmas every year for several years running. Yamaha offered whatever you wanted based on how much you sold over the year. You simply had to sell your ass off and then after the year ends you select the Yamaha gear that fits the budget you establish over the year selling Yamaha audio gear and bang! New Yamaha stereo every year. I always got nice stuff and then test drove it for months, then sold it and got other stuff to test drive and learn about at home. I love me my Yamaha! :D I did not need to deceive etc because I had Yamaha to sell and ~several other brands which I rarely sold anyway. Yamaha is so good one does not lie and stuff. It's such great gear! I never sold interconnects unless they had some expensive stuff and I sold it on integrity of connection and not gobbledygook sound quality talk crap.

What about a fishing tackle shop for a business?
What about a pet food supply retail business? Pets are so good for people and you get to see them all day at the shop if you have one.
What about use your strengths and start a consulting operation using your life long learned stuff that you did before you retired?
etc etc.. Or just decide that you want to take up inline skating or some sort of good for you stuff. :D
 
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CleanSound

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I told the truth based on subjective listening to speakers combined with the better warranty terms and quality hence I sold a ton of KEF at the time and ENERGY too. For cassette based on frequency response, wow and flutter, how many motors and 3 head. For amps/receivers current capability, dynamic power output linearity a la' low Z and lotsa wattage. For CD I sold them the best for the money and that matched their amp/receiver.
That is honest of you. And that is a rarity.

I love me my Yamaha! :D I did not need to deceive etc because I had Yamaha to sell and ~several other brands which I rarely sold anyway. Yamaha is so good one does not lie and stuff. It's such great gear!
I have a Yamaha A-S2200, I don't think it measures great, but I absolutely love it.
 

Doodski

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That is honest of you. And that is a rarity.


I have a Yamaha A-S2200, I don't think it measures great, but I absolutely love it.
@CleanSound sometimes I felt really bad and sorry for the competition that did not have Yamaha audio gear to sell.
They simply had no chance of competing.
They attempted to compete with me and my work mates although I was a merciless salesperson that way and I made sure to get every customers' sale no matter if I had to give a discount or sell them better speakers for the same price etc.

The Yamaha sales rep was on a first name basis and was in communication via telephone with me regularly and we had dinner together sometimes.
I was as loyal to Yamaha Canada as is possible and he and Yamaha knew that and made everything a pleasure in doing business together.

Like I said in a comment pages back; it went something like this.
"The last thing @CleanSound needs is to open a audio store and then have a very aggressive salesperson like me appear with a competing store out of the blue and make his sales life hell."
That would be devastating and a near death experience...LoL. :D

But yes, Yamaha audio gear is the best value out there and has been for decades.
I worked on Yamaha gear when I became a techy after the sales job and Yamaha was/is a dream for servicing. It's made well and is made to be serviced.

The Yamaha A-S2200 is a sweet piece and will outlast me and give decades of service.
I'm not sure if I prefer the black or the silver. I think I would flip a coin on that decision and be happy with the result.
 

Doodski

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I have it in silver. But it looks stunning in either black or silver.
If mine due to all the real estate of the front panel metal surface and controls I would illuminate it with colored lighting. It would look amazing and so cool.
 

benanders

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Great impressions and recollections, this thread.

And my angle from a perspective rooted in both “kinds” of sales…

Yes there are two versions depending on the sales floor - @Doodski gives quite a picture of commissioned sales - surely the historically popular version for moving high end electronics. When I started working a corporate retail job (not electronics; non-essentials) in high school I read Joe Girard’s “How to Sell Anything to Anybody” - not quite so universal as the title suggests, parts now obsolete or so dated they can’t apply in a digital era without heavy adaptation, but essentially a more comprehensive take on what has been described of the sales floor/life in this thread. Good stuffs!

I stuck with salaried (to include hourly-wages…) sales during my youngest formal working years, for knowing I lacked motivation one must live and breathe in the commissioned arena. If I’d tried to be a true salesman at that point it would’ve gone like the episode of Curb Your Enthusiasm where LD tries to sell cars. I did commissioned sales (services) well enough some years later.
Salaried sales is just my way of saying “customer service rep requiring considerable knowledge of the products and the overall field,” and may or may not be in line with nomenclatural reality of business jargon.
Begs the question which kind of employee(s) would work best in your version of a hifi shop, as owner/head of sales/director of customer service?

Bear in mind, salaried sales aka customer service rep is basically sales without monetary reward for being more successful than one’s colleagues. Employers must get lucky to find good workers for a salaried sales floor and then must hope they stick around. That’s not to say employers needn’t be lucky to get good commissioned salespersons, too. In my retirement, I would not want to do a 1-man-show as there seems nothing amusing in it; most would want an employee(s).

Whether the floor is manned by salaried- or commission-based reps, to open a shop based on non-essential goods begs, among other things, strong proficiency in (1) remaining professional and equitable towards all dispositions (as already stressed by others), (2) keeping the business predictable in hours and available personnel (no hobby schedules or revolving door of customer service reps, thanks), (3) being good with planning and numbers (if you are averse to mathematics, really, don’t start a B&M business… or better, any business), and (4) rapidly adapting to changes and trends in both your field and the geographic area of operation, plus the online competition with few of your B&M constraints…
(1) Everyone is your friend always. That won’t be easy. Depending on where you operate, people will bring up politics, faith, prejudice etc. and it would be your job to manage each engagement in a way that wouldn’t ruffle chest feathers and also wouldn’t come back on your biz. Enthused neutrality is a hard trade to ply, but it’s a must when you need to be everyone’s friend. It’s a tightrope prescription for acrophobia, so to speak.
(2) Your first sick day (whether in or out) is the first day you realize there’s no such thing as a true hobby-retirement B&M shop, I suspect. Your first busy day on which an employee calls in last-minute being the second such day, perhaps.
(3) It may be a hobby biz to you, but to the bank and government it’s very much a real biz. They will both care about your numbers even if you do not.
Helping the young department managers close out their register accounts (my first corporate job) on weekend nights long after I was due for release = how this once-16-year-old got to go party with all those fun 20-something’s. It was altruism based on numbers, literally. What would the stimulus be for that sort of responsibility during one’s retirement? I don’t see it, but I’m also not retired. Maybe 20-something’s now like to party with retirees? :p
(4) Enter an example of an exception to the top notch dress code discussed earlier: college-aged young adults comparing your turntable models/prices with those on Amazon via their phones might find a sleek-dressed elder fella to be less approachable as the same person in smart casual, but the legal professional who walks in after them, to look at 4- to 5-figure kit, may still subscribe to the original sleek, duded-up preference (indeed if coming from work, he/she may be donning similar sleek threads); depending on the optimal sales model in a given area, this could be an important discrepancy.

Limiting your corral of products based on technical specs and giving recommendations a-la ASR-style probably wouldn’t work well in more cases than not. Many people (=potential buyers) just don’t care and would view spins and any mention of controlled tests for quality validation as extraneous gibberish, no more comprehensible or worthwhile than the gibberish about how much more “air” one can hear from components XYZ. What is left for the hifi retail of yore in many countries/cities seems still rather inclusive of perceived value in undemonstrated improvements (cables, PSU’s, grounding/isolation devices etc.). To be at odds with that camp is not only to be a less profitable minority among your competition, but to be one who alienates could-be/would’ve-been clients. E.g. from @Doodski ’s account: if I read correctly, he didn’t say “bad” he just avoided saying “good,” of the stuff that wasn’t demonstrable. That is a strategy one would need to adopt in sales. Imagine: you were the seller, and Yamaha made different special-colored fuses or jumpers, and you told customers “fuses and jumpers of these sorts make no audible difference…” then it probably wouldn’t be you the Yamaha person called regularly or dined with, no matter how much you liked and promoted their speakers. ;)
“Snake oil” is an unscientific phrase, as it’s emotionally loaded, and polarizing among hobbyists and industry insiders alike. It’s the opposite of neutrally-/accessibly-toned education. Folks on the ASR website aren’t obliged to worry about that - it’s not peer reviewed and (thankfully) doesn’t seem to build such minutia into its rules and regs. But I wouldn’t wanna tread those waters, if the idea is to hang and chill with hifi peeps who will hopefully give me money. It’s literally like asking customers their political affiliation, telling them yours, and expecting it to go well for you more than ~50% of the time. Not actively recommending something and outrightly discrediting something are two different things and will often result in two different reactions from your audience. When it comes to sales, sharing your personal empirical-based take can hurt you far more easily than it can help you (again, sales floor-wise).

Now here’s a harsh reality not yet dwelt upon: many retail customers are not fun, let alone are they like archetypes of positive core-memories; folks who’ve actually worked sales/retail know this. For buying non-essential goods (like hifi), many people engage with a (A) spontaneous inkling, and/or fleeting interest, coupled with an (B) aversion to spending more money than they envisioned based on you’ll never-know-what-expectations-they-invented beforehand (this is where prowess and drive drawn from instinct + training, like @Doodski described, separates the soldiers from the kids). Turning window shoppers or free F-T-F info-beggars into same-day buyers while Amazon, Best Buy and the like are competition-at-fingertips requires a rare knack in personality and knowledge (salaried) or an only-slightly-less rare passion for closing deals (commissioned).

@restorer-john mentioned shoplifters (I too, nearly spit out my coffee when I read “liaising” :D ). Not sure where you’re located, @CleanSound , but a friend of mine in high school never went back into retail after he had a gun shoved in his face one evening at work - PT at a video rental shop - nothing more valuable in that store than ~ USD $25, so how much possibly could’ve been in the register? I don’t know, didn’t ask him, but I’m guessing less than a place successfully selling hifi goods, or at least in the mind of an armed robber? Another friend in high school was sentenced to 25 years imprisonment (while still in high school) for armed robbery of a convenient store. Don’t commit robbery, and especially not with an accomplice who weighs some 300 lbs… it’s technically not body-shaming for me to indicate such a fella stands out on security cameras and doesn’t enhance getaway speed. People make weird life choices and it involves retail and potential violence, sometimes.
Depending on state / nation, lawsuits in physical venues also represent a real world risk.

B&M if rented can be costly and whatever the contract cycle may be, can become highly unpredictable. I’m in a city that is highly skewed (legally and culturally) in disfavor of survivability for businesses of tenants, so I’ll leave rental hazards at that. A 2 year contract for property is nothing in terms of a business’s security, suffice it to say. Know business lease contract laws in your area and everything they don’t protect a tenant from.

It was already mentioned by @steve59 - a strong alternative and considerably more affordable (in time, up-front investment, overhead, etc.) option would be to battle the increasing trajectory of online/forum anonymity by starting a F-T-F local hifi listening/demo club.
Considerable logistics involved, but at least it wouldn’t require daily input of hours by one person, could be facilitated by others during your occasional absences for illness or travel (or…?), wouldn’t require others to cut checks for weeks on end or fold outright if you went MIA at some length, and would be demonstrative for you, of your skills in networking and motivating people about hifi. If you do not have evidential reason to believe you can network people into a following and that those folks will look up to your way of blending personality and insight in learning/teaching hifi, then I think I can say a sales venture could be problematic. Bear in mind doesn’t mean your interest and fascination should be shelved - just find the other way to actualize it. Clubs, retreats, etc. might be great for that sort of thing.

My intended take home is not that retail is a bad venture. Getting into retail and sales with the intention of anything besides maximizing sales and optimizing your profit margin is a recipe for disappointment or worse, as others said. Pursuing that responsibility with a hobby interest, rather than one of numbers and competition, and trusting it to sort itself out seems highly improbable.
I’d do a club or, if legal protection / insurance wasn’t too bad, a retreat, instead.
I’m fine to just keep audio as a fun part of my entertaining room, so obviously all the above is anecdotal and goes great with a grain or two of sodium chloride.

Edit: I quick-typed the acronym ARS instead of ASR. Keep the retirement dreams alive, but shelve those torches and pitchforks, please.
 
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Doodski

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Great impressions and recollections, this thread.

And my angle from a perspective rooted in both “kinds” of sales…

Yes there are two versions depending on the sales floor - @Doodski gives quite a picture of commissioned sales - surely the historically popular version for moving high end electronics. When I started working a corporate retail job (not electronics; non-essentials) in high school I read Joe Girard’s “How to Sell Anything to Anybody” - not quite so universal as the title suggests, parts now obsolete or so dated they can’t apply in a digital era without heavy adaptation, but essentially a more comprehensive take on what has been described of the sales floor/life in this thread. Good stuffs!

I stuck with salaried (to include hourly-wages…) sales during my youngest formal working years, for knowing I lacked motivation one must live and breathe in the commissioned arena. If I’d tried to be a true salesman at that point it would’ve gone like the episode of Curb Your Enthusiasm where LD tries to sell cars. I did commissioned sales (services) well enough some years later.
Salaried sales is just my way of saying “customer service rep requiring considerable knowledge of the products and the overall field,” and may or may not be in line with nomenclatural reality of business jargon.
Begs the question which kind of employee(s) would work best in your version of a hifi shop, as owner/head of sales/director of customer service?

Bear in mind, salaried sales aka customer service rep is basically sales without monetary reward for being more successful than one’s colleagues. Employers must get lucky to find good workers for a salaried sales floor and then must hope they stick around. That’s not to say employers needn’t be lucky to get good commissioned salespersons, too. In my retirement, I would not want to do a 1-man-show as there seems nothing amusing in it; most would want an employee(s).

Whether the floor is manned by salaried- or commission-based reps, to open a shop based on non-essential goods begs, among other things, strong proficiency in (1) remaining professional and equitable towards all dispositions (as already stressed by others), (2) keeping the business predictable in hours and available personnel (no hobby schedules or revolving door of customer service reps, thanks), (3) being good with planning and numbers (if you are averse to mathematics, really, don’t start a B&M business… or better, any business), and (4) rapidly adapting to changes and trends in both your field and the geographic area of operation, plus the online competition with few of your B&M constraints…
(1) Everyone is your friend always. That won’t be easy. Depending on where you operate, people will bring up politics, faith, prejudice etc. and it would be your job to manage each engagement in a way that wouldn’t ruffle chest feathers and also wouldn’t come back on your biz. Enthused neutrality is a hard trade to ply, but it’s a must when you need to be everyone’s friend. It’s a tightrope prescription for acrophobia, so to speak.
(2) Your first sick day (whether in or out) is the first day you realize there’s no such thing as a true hobby-retirement B&M shop, I suspect. Your first busy day on which an employee calls in last-minute being the second such day, perhaps.
(3) It may be a hobby biz to you, but to the bank and government it’s very much a real biz. They will both care about your numbers even if you do not.
Helping the young department managers close out their register accounts (my first corporate job) on weekend nights long after I was due for release = how this once-16-year-old got to go party with all those fun 20-something’s. It was altruism based on numbers, literally. What would the stimulus be for that sort of responsibility during one’s retirement? I don’t see it, but I’m also not retired. Maybe 20-something’s now like to party with retirees? :p
(4) Enter an example of an exception to the top notch dress code discussed earlier: college-aged young adults comparing your turntable models/prices with those on Amazon via their phones might find a sleek-dressed elder fella to be less approachable as the same person in smart casual, but the legal professional who walks in after them, to look at 4- to 5-figure kit, may still subscribe to the original sleek, duded-up preference (indeed if coming from work, he/she may be donning similar sleek threads); depending on the optimal sales model in a given area, this could be an important discrepancy.

Limiting your corral of products based on technical specs and giving recommendations a-la ARS-style probably wouldn’t work well in more cases than not. Many people (=potential buyers) just don’t care and would view spins and any mention of controlled tests for quality validation as extraneous gibberish, no more comprehensible or worthwhile than the gibberish about how much more “air” one can hear from components XYZ. What is left for the hifi retail of yore in many countries/cities seems still rather inclusive of perceived value in undemonstrated improvements (cables, PSU’s, grounding/isolation devices etc.). To be at odds with that camp is not only to be a less profitable minority among your competition, but to be one who alienates could-be/would’ve-been clients. E.g. from @Doodski ’s account: if I read correctly, he didn’t say “bad” he just avoided saying “good,” of the stuff that wasn’t demonstrable. That is a strategy one would need to adopt in sales. Imagine: you were the seller, and Yamaha made different special-colored fuses or jumpers, and you told customers “fuses and jumpers of these sorts make no audible difference…” then it probably wouldn’t be you the Yamaha person called regularly or dined with, no matter how much you liked and promoted their speakers. ;)
“Snake oil” is an unscientific phrase, as it’s emotionally loaded, and polarizing among hobbyists and industry insiders alike. It’s the opposite of neutrally-/accessibly-toned education. Folks on the ASR website aren’t obliged to worry about that - it’s not peer reviewed and (thankfully) doesn’t seem to build such minutia into its rules and regs. But I wouldn’t wanna tread those waters, if the idea is to hang and chill with hifi peeps who will hopefully give me money. It’s literally like asking customers their political affiliation, telling them yours, and expecting it to go well for you more than ~50% of the time. Not actively recommending something and outrightly discrediting something are two different things and will often result in two different reactions from your audience. When it comes to sales, sharing your personal empirical-based take can hurt you far more easily than it can help you (again, sales floor-wise).

Now here’s a harsh reality not yet dwelt upon: many retail customers are not fun, let alone are they like archetypes of positive core-memories; folks who’ve actually worked sales/retail know this. For buying non-essential goods (like hifi), many people engage with a (A) spontaneous inkling, and/or fleeting interest, coupled with an (B) aversion to spending more money than they envisioned based on you’ll never-know-what-expectations-they-invented beforehand (this is where prowess and drive drawn from instinct + training, like @Doodski described, separates the kids from the soldiers). Turning window shoppers or free F-T-F info-beggars into same-day buyers while Amazon, Best Buy and the like are competition-at-fingertips requires a rare knack in personality and knowledge (salaried) or an only-slightly-less rare passion for closing deals (commissioned).

@restorer-john mentioned shoplifters (I too, nearly spit out my coffee when I read “liaising” :D ). Not sure where you’re located, @CleanSound , but a friend of mine in high school never went back into retail after he had a gun shoved in his face one evening at work - PT at a video rental shop - nothing more valuable in that store than ~ USD $25, so how much possibly could’ve been in the register? I don’t know, didn’t ask him, but I’m guessing less than a place successfully selling hifi goods, or at least in the mind of an armed robber? Another friend in high school was sentenced to 25 years imprisonment (while still in high school) for armed robbery of a convenient store. Don’t commit robbery, and especially not with an accomplice who weighs some 300 lbs… it’s technically not body-shaming for me to indicate such a fella stands out on security cameras and doesn’t enhance getaway speed. People make weird life choices and it involves retail and potential violence, sometimes.
Depending on state / nation, lawsuits in physical venues also represent a real world risk.

B&M if rented can be costly and whatever the contract cycle may be, can become highly unpredictable. I’m in a city that is highly skewed (legally and culturally) in disfavor of survivability for businesses of tenants, so I’ll leave rental hazards at that. A 2 year contract for property is nothing in terms of a business’s security, suffice it to say. Know business lease contract laws in your area and everything they don’t protect a tenant from.

It was already mentioned by @steve59 - a strong alternative and considerably more affordable (in time, up-front investment, overhead, etc.) option would be to battle the increasing trajectory of online/forum anonymity by starting a F-T-F local hifi listening/demo club.
Considerable logistics involved, but at least it wouldn’t require daily input of hours by one person, could be facilitated by others during your occasional absences for illness or travel (or…?), wouldn’t require others to cut checks for weeks on end or fold outright if you went MIA at some length, and would be demonstrative for you, of your skills in networking and motivating people about hifi. If you do not have evidential reason to believe you can network people into a following and that those folks will look up to your way of blending personality and insight in learning/teaching hifi, then I think I can say a sales venture could be problematic. Bear in mind doesn’t mean your interest and fascination should be shelved - just find the other way to actualize it. Clubs, retreats, etc. might be great for that sort of thing.

My intended take home is not that retail is a bad venture. Getting into retail and sales with the intention of anything besides maximizing sales and optimizing your profit margin is a recipe for disappointment or worse, as others said. Pursuing that responsibility with a hobby interest, rather than one of numbers and competition, and trusting it to sort itself out seems highly improbable.
I’d do a club or, if legal protection / insurance wasn’t too bad, a retreat, instead.
I’m fine to just keep audio as a fun part of my entertaining room, so obviously all the above is anecdotal and goes great with a grain or two of sodium chloride.
I saw the long text field and was like O'boY this is going to be a doozy and it was excellent and all of it on point. Thanks.:D
 

Duke

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There's a fellow who was on the Polk forums as an amateur who was a math teacher. I don't know the back story, but he, for whatever reason, left his day job and started a hifi business some years ago. By all accounts, he's been pretty successful. Might (???) be worth reaching out to him @CleanSound and see if you can pick his brain.
I don't think I betray any confidences by sharing his business link. Trigger alert: it is not an ASR kinda shop. ;)
I visited an AudioThesis room at the SouthWest Audio Fest this past weekend. In my opinion it was the best-sounding small room at the show. Their system created a very enjoyable "you are there" presentation in a small hotel room, which is extremely rare, AND their system had excellent sound quality without ANY audible colorations or "maybe-thatsa-coloration"s. Rosso Fiorentino speakers.
 

Spoofer

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Local guy ran a used hi-fi store and repair shop in an old under-used shopping mall. I would bet that he made more $ fixing than selling.
 
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