Joe Cassandra
We sold our children’s brick-and-mortar retail business…
We sold our children’s brick-and-mortar retail business… But it was ultimately a failure... Ending with our manager yelling at us in front of the new buyers about how we’re the ‘worst bosses she’s ever had’ Bought it after seeing a tweet on here about biz for sale on Loopnet. Closed on store in 40 days. Started off well, big plans… but, eventually we failed & dumped it. Read about employee theft, bad luck, almost sued, city screwing you over and you have to take it… and more. Lessons & what it’s like to own a retail business (& owning a biz w/ your spouse to boot) (Long post ahead, get coffee and bookmark). *************************************** Store was a girl’s children’s clothing & gift spot in our Downtown. We could walk to it. We live in one of the fastest growing counties in the state, we were already customers of the store, items in store were unique… Old owner was burnt out from retail, had stopped investing in store. Our thought: We put up ecommerce (had none) Invest in marketing Invest ...
made a (bad) decision not to heavily discount it in Nov/Dec to get it out the door. “We’ll save it for when demand comes back.” Never do this. Just cut your losses and go (View Highlight)