shared space idea. Worth it?

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oakandiron

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Manchester, NH
I have been looking for an existing retail store that would be willing to share their space with me. We have a location that is really cheap where we do all our work, but we need a place to display our frame chevrons (we don't have that many), a few display pieces, and a counter to take customer orders since we don't have a storefront. I want to keep our costs low to start out with, so I thought sharing would be a good idea.

I was contacted by a guy who sells candles and crafts and I thought it would be a good match. I don't know all the details yet, but it seems as though he is looking for someone to supply him with ready-made frames to sell to his customers. I want to be considered a custom framer, not a manufacterer of ready-mades. But on the other hand, I am just starting out, and maybe a few frame choices, a few display pieces, and a flyer and some business cards will get us some custom business. What do you think? Worth my time or should I keep looking? I don't know yet if he wants to charge me a monthly rent, or take a cut of the sales.
 
It seems to have some possibilities, but only you can decide if it's the way you want to start out and the chemistries involved. One advantage I see is that, unlike me and other one-person shops, you don't have to hang a "Back in 10 minutes" sign on your door if you need to run to the bank, post office, DQ etc. since presumably there would be other warm bodies there.

The product mix appears to be compatible.

Dave Makielski
 
I'd say it depends on the situation. It sounds like you would be sharing his space, which might be a good idea for both of you. But if not, you are free to back out.

I would not wish to be in his situation, however. There is a one-man, 3,100 square foot frame shop across town. He shares his space with two other retailers; a decorator and a seller of antiques. He probably could not support his $3500/month rent with only his custom framing, so if one of his space-sharers goes away, he is still responsible for the rent. He's trying to sell his business.
 
J Phipps TN said:
Why not rent a space in an antique mall? They are usually cheap and they get alot of traffic. You also get the advantage of networking with alot of people instead of just one.

Juat a thought
Click to expand...

I like Jennifer's idea if that venue is available to you. More traffic possibilities plus antique dealers can be very good customers too, especially if you get into repair and restoration work. Hours can be a little quirky though ...it depends on your demeanor.

Dave Makielski
 
Jim-

That's the problem I don't want to get myself into. I had an offer from a music store (possibilities) but she wanted to charge me $20 a square foot, which came out to $600 a month rent. I think I could get my own place for that much! (Well, maybe not. But one can dream.) The only positive thing about her shop was that it would be two seperate divisions within the store, and it would be like we had our own custom frame shop, wall space, counter, everything, just in the same space as beginners tapping away on chopsticks in the background.

The only solution I can come up with is to take off to the casino for the weekend, win a few thousand and come back, quit my day job and open shop! (I said I could dream, didn't I?)
 
These shared-space arrangements always have pros and cons.

I like the demographics of a candle store - upscale women who will spend $20 for a candle - but sharing retail space is like a entering into a marriage, and the divorce rate is probably very high.

My #1 worry is that you are test marketing for them. Make sure you have a non-compete clause that goes into effect for 6-12 months after you leave. Anything longer may be unenforceable.

The other problem is you are sitting in a space where, if I understood correctly, you can't get work done, just sit and wait for customers. When will you ddo your framing?

What about signage? Will that be shared? Name?

Got allergies?

On the other hand, Deck the Walls used to have another franchise call Wicks and Sticks. I think they sold candles and umm....baseball bats or something. Not sure about the sticks part.

Good luck in whatever you decide.
 
I am about to do the same as the OP. We are sharing 3200 sq ft in the most desirable location in town. He will be selling only art and I am selling only framing. We will keep our own entitities, have our own signage, but share ad space and yellow pages space which will save us both money. The only drawback I see right now is that he is a chatty kathy, and I have to figure out how to deal with that. Of course, he may have some issues with me, which he hasnt brought to light yet.
 
I started out "Sharing" a retail frame shop. What a misteak! I had nothing in writing and the divorce was misearble. So.... Get it in writing, especailly how you will split up. If you can't agree on stuff in writing as you set up the arrangement, can you imagine how difficult it will be to agree on the split up later?

I think I would keep the day job - save as much $ as you can, and do it your way when the time and place are right.

OBTW, I don't think you can afford to supply him with readymades. How could you possibly compete with factory efficiency and buying power. He will probably expect ready-made prices and instant turnaround too.

Remember this about partnerships: Smith shot Wesson.
 
Yes. We shall see what this guy knows about custom framing! I am going to meet with him tonight. I have no intention to become a distributor of ready-made frames. I'm not interested in competing with Walmart. The thought alone gives me nightmares. The only good that could come of this it seems is that our name would be out there... in the retail world... somewhere...

And I'm NOT giving up on the idea of winning enough at the casino to open up!
 
3200 sq ft is a lot of space

nikfrz said:
I am about to do the same as the OP. We are sharing 3200 sq ft in the most desirable location in town. He will be selling only art and I am selling only framing. We will keep our own entitities, have our own signage, but share ad space and yellow pages space which will save us both money. The only drawback I see right now is that he is a chatty kathy, and I have to figure out how to deal with that. Of course, he may have some issues with me, which he hasnt brought to light yet.
Click to expand...

If you can afford to rent half of that space from him, you can probably afford to rent a similar size space on your own.

Going into a space that big is high risk for both of you. If one of you goes down, you both go down.

It's hard enough to make a partnership work when you know each other. To get married after one blind date really deosn't sound like a good idea to me.
 
I have been in that situation where I shared a space with a paint store.
NEVER AGAIN will I share a space, if I can't meet the expenses of having a shop of my own, I will quit.

Remember their customer service reflects on you and your business.

If you have to do this I would make sure everything is in writing, even things you would'nt think that would be necessary to put in writing!
The guy I shared space with was a inconsiderate smoker, I lost alot of my customers as well as he because of that. He did'nt feel it was necessary to go outside. This was not the only reason I moved, but one of them.

If you have to move, it gets very expensive!!!

Hope the info helps


Judy
Frame It & ETC.
judy@frameitetc.com
 
On the other hand, Deck the Walls used to have another franchise call Wicks and Sticks. I think they sold candles and umm....baseball bats or something. Not sure about the sticks part.

Good luck in whatever you decide.[/QUOTE]


Candle wicks and candle sticks, but notice that the 2 related franchises didn't share space with each other!
 
Looks like a go ahead for me. All my concerns and questions seem to have the right answer. It's not exactly a "shared space", it's more of an advertising venue for me, with a few frames in the store to display what we offer. The store has about 25 different craft vendors in it, all who make local homemade items (not cheap). If someone is interested in custom framing we will make an appointment at the store, their business, or home. The nice thing about us being small is that we are easily mobile.... have cases to carry around display frame choices, mats, etc. (We don't have the thousands of frame samples most shops do). Not yet! I know you might think we are asking for trouble by picking up/ delivering and going out of our way to search out our customers, but it's a different idea, and sometimes all it takes is to be a little different!





"Start small... Dream big" - Me
 
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