Vintage Sheffield

Is setting up a vintage shop in derbyshire a good idea?

I recently got a settlement for unfair dismissal and am wanting to use my money wisely.
I have an idea to open up a vintage shop/online in derbyshire chesterfield.
we currently do not have one and the closest one is in sheffield. (around 30mins away).
Im just wanting some feed back to if any1 things this is a good/bad idea?
also if anyone has any advice on how to start this up i would be extremely grateful.
hope to hear from u.

Do a bit of research.

What kind of people buy (I assume you mean clothing) vintage?
Easy way to find out, hang around outside a shop for a day (pick a busy one)
How many of those kind of people live in Chesterfield?
You will probably have to guess, but use your local knowledge and ask around.
How much do you think those people will spend on vintage in a typical month?
Multiply one by the other, and take about a quarter of that. That could be a month’s sales.
Is it enough?

Can you afford a shop where people go?
You will have rent of course, but also heating, lighting, council tax (a lot) and other stuff.
Some people will make a special journey to a shop they like, but that’s doing it the hard way. It’s better to be close to where people go to buy clothes.
Otherwise how are they going to know you are there?

Have you thought about where you are going to get your stock?
How much will it cost?
How much will you sell it for?
Take one from the other and multiply by your sales. that’s your profit.
Is it enough?

You also have the cost of initial stock, shop fitting, and things that go wrong (they always do).

This might sound like a lot of hassle, but if you don’t do it (and get the right answers) you will work hard, worry yourself sick, waste your money and go bust. You really don’t want that.

If you fail to plan – you plan to fail.

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