We’re closing our store. My husband and I have been in business since 1998 and we opened a storefront in April, 2005. We sold computers, repaired computers, offered training, sold computer “stuff” and office supplies. We also had a UPS counter, made copies and provided fax services. It was a good business in an area that needed it and our locals welcomed our little store with open arms.
The business grew and celebrated a revenue increase of 187% (2003-2006). We hired high school kids each year and gave them a chance to see how a small business runs. Our customer base continued to grow quickly and we were happy.
Our goal with the storefront had been to grow the business into something that someone would want to buy in 10-15 years. After a few other local computer businesses closed and their customers came to us, we realized that the small amount of revenue the storefront generated would not be enough to make our business attractive enough to buy. We were still a services-based business and when we left the business (my husband and I) there wouldn’t be any business left.
We ran numbers and although business had been good, 90% of our expenses came from the storefront (rent, phones, security system, utilities and payroll) - yet the storefront only generated 30% of our revenue with the remaining 70% still being from our service side of the business.
So, we’re closing the store. We’ll stay in business though – just get a smaller office with less visibility. We have plenty of customers and work and we will be able to make money and not have to work such long hours. But part of me is sad – it’s been nice to be able to meet so many people and help them (I’m a fixer – love to “fix” everyone else’s problems!).
But change is good and with it comes opportunities for new things to happen. I’m also looking forward to being to work in my jammies again! ;-)
