Cherry is Looking to POP-UP Into Retail Space - Help Us Choose!

cherrycollectables · Sep 14, 2015

Hey OZCTr's

Cherry has been pounding the ground since 2008 and we are now looking to take our first foray into traditional retail!

We need your help (as always) to make it happen and that starts with picking a prime location.

We would greatly appreciate it if the Victorians could make their choice in the poll below and any further comments would be valuable.

Thanks again for the support and please share this with your Victorian friends!!

Kind regards

Grayson

Billyhoyle · Sep 14, 2015

I think reality is that as much as the CBD makes the most sense, we all want Cherry to continue operating, the cost of the rent, I can only imagine, would be quite high.

Billyhoyle · Sep 14, 2015

I think from the other locations there are some key featuresGrayson should be looking for:
1. Good parking and Good access to public transport
2. Good space with tables to buy/sell/trade
3. Potentially couch and TV for sports viewing
4. Good complimentary shops nearby - eg. food, drink, ATM (for those sales, not Grayson), Pub that shows sports, Post Office for Grayson
5. Basketball court nearby for shoot-around

KB. · Sep 14, 2015

Just my 2 cents since I'm not a Melbourne local, but if I was to visit Melb, which is likely as I love the city, I would more that likely hit up Cherry at a CBD location as opposed to the other areas. I think this might be true for other cherry supporters.

Jesse Dart · Sep 14, 2015

KB. said:
Just my 2 cents since I'm not a Melbourne local, but if I was to visit Melb, which is likely as I love the city, I would more that likely hit up Cherry at a CBD location as opposed to the other areas. I think this might be true for other cherry supporters.

I agree with @KB. about visiting, I wouldn't want to go to somewhere like Carlton but I do get that rent is expensive in the CBD.

drobfan8 · Sep 14, 2015

I voted the CBD all the way, but of course if may not be doable.

Who knows, there's so many "hole in the wall" style cafes and such that I wouldn't be surprised if you could fit a card shop in there.

If you're open in 2 weeks I'll see ya there

Any chance you'll serve beer and show NBA games?

Best of luck with the business.

Grindnation · Sep 15, 2015

CBD! @cherrycollectables there is a vacant spot directly opposite me
https://www.google.com.au/maps/@-37...Dk9yo0CF3frFnCR4Zw!2e0!7i13312!8i6656!6m1!1e1
Hopefully that works, right next to Southern Cross Railway Station (close to pubs and about a 5 minute walk to Docklands Basketball courts).

nichj99 · Sep 15, 2015

The overheads of the CBD would be substantially higher than the other locations listed one would assume?

mattyman76 · Sep 15, 2015

Caulfield wouldn't be too bad an area, 3 major train lines close by, tram and buses. 5 min away from monash free way. Also potential for new people into the hobby with monash uni situated in caulfield. Potential for lot of walk in customers. Plenty of pubs around.

theflyinggerco · Sep 15, 2015

KB. said:
Just my 2 cents since I'm not a Melbourne local, but if I was to visit Melb, which is likely as I love the city, I would more that likely hit up Cherry at a CBD location as opposed to the other areas. I think this might be true for other cherry supporters.

Jesse Dart said:
I agree with @KB. about visiting, I wouldn't want to go to somewhere like Carlton but I do get that rent is expensive in the CBD.

I'll assume you aren't very familiar with Melbourne geography being interstaters KB & Jesse, but Carlton is literally the nearest suburb to the CBD and one of the best serviced by trams.

All the locations listed as well serviced by public transport, as well as being relatively close to the CBD - even Moonee Ponds is only 10-15 mins away on a train from the CBD.

In regards to the location, firstly I'd focusing on what role the shopfront will be playing for Cherry Collectables.

Is it going to be the main source of revenue, or just a small percentage? It might be your dream to sell cards from a shop, but what is going to pay your bills, be your bread and butter?
What customers are you focusing the shopfront at?
Is the shop going to be a hub for the hobby - ie group trading days/nights, group breaks where people can attend in person?
Who is going to work at the shop - is it going to be you, or a bunch of people who wouldn't know a penny sleeve from a shirt sleeve?

Personally I'd say Hawthorn being a stone's throw away, but I ask because I'd be more than happy to travel an hour on the train to a trading card dedicated shop, mostly as I know its choice - I can simply shop online if I don't want to go the shop.

Also, if you are going to focus on the online aspect still but be sitting in the shop all day, maybe think about becoming a Australia Post LPO - with all the shipping you do, it might be worth it simply for yourself!

araiee · Sep 27, 2015

Like any retail business you need to do the ground work, demographics...lease/ rental options vs the best possible place for high traffic flow, history suggests in Melbourne this type of venture doesn't last and that's where you need to way up incorporating another line/type of business that will sustain regular clientele to work in with the trading card area... All in all I hope it works our for you and it's a success...

GarnettFan4Life · Sep 27, 2015

theflyinggerco said:
I'll assume you aren't very familiar with Melbourne geography being interstaters KB & Jesse, but Carlton is literally the nearest suburb to the CBD and one of the best serviced by trams.

All the locations listed as well serviced by public transport, as well as being relatively close to the CBD - even Moonee Ponds is only 10-15 mins away on a train from the CBD.

In regards to the location, firstly I'd focusing on what role the shopfront will be playing for Cherry Collectables.

Is it going to be the main source of revenue, or just a small percentage? It might be your dream to sell cards from a shop, but what is going to pay your bills, be your bread and butter?

What customers are you focusing the shopfront at?

Is the shop going to be a hub for the hobby - ie group trading days/nights, group breaks where people can attend in person?

Who is going to work at the shop - is it going to be you, or a bunch of people who wouldn't know a penny sleeve from a shirt sleeve?

Personally I'd say Hawthorn being a stone's throw away, but I ask because I'd be more than happy to travel an hour on the train to a trading card dedicated shop, mostly as I know its choice - I can simply shop online if I don't want to go the shop.

Also, if you are going to focus on the online aspect still but be sitting in the shop all day, maybe think about becoming a Australia Post LPO - with all the shipping you do, it might be worth it simply for yourself!

Mine must be the only Carlton vote so far. I stayed down there a few years back when a mate was living there running an APL Poker franchise, found the place to be great.

1711mark · Sep 28, 2015

I remember a few years back a card shop in Carlton , 'Dream Cards' , went there a couple of times and was always shut lol , was in the China town part , shop positioning was not the best , upper level , really had to look to find it .

exzibit3 · Sep 29, 2015

Please for the love of all things good, don't open a retail outlet. You will struggle to be able to repay the rent and outgoings and to have someone manage the store. If you are there yourself, you still need to consider drawing a salary and your own financial commitments. Assume rent is $35,000 per annum and you draw wages of $65,000 (don't even start considering all the other things like utilities, rates, refurbishment, loan repayments, cash flows, insurance etc), and that gives you an IDEA of how much of a risk this is. Consider what margins you make currently, consider the weak AUD and exchange rate volatility, consider the volume of sales you would make, consider that if you break your lease if you find that you are struggling financially, you will be liable to pay your rent until you can find someone who will take over your lease. If you need to turnover $500,000 just to get a gross profit of $100,000, be honest and ask yourself if the tiny basketball card collecting community is going to be able to spend that much.

The_Funporium · Sep 29, 2015

As a retailer (albeit a different industry) I can only strongly advise that you do your due diligence on this matter. Formulate a SWAT analysis but run the numbers so many times that you are almost sick of seeing them. With online markets being what they are today, and the industry being what it is today (not what it was 20 years ago) I personally would suggest staying out of the bricks and mortar retail sector.

That being said, I wish you all the best, whatever you choose to do!

Ersk · Sep 29, 2015

If you are going to do it, it has to not be just cards. As the last 2 post have said, you need to think about income to break even and doing your due diligence. For the market of selling cards, the turnover may not be sufficient with the margins to justify a shop, but if you expand to more niche retail idea, such as other sporting gear, you may be able to allocate a section of your business to cards.

It is also thinking out of the box. Alternatively, you may want to see if you could join business with an already established business, asking them to lease out some of their space within their shop that you could have a presence. Have your logo and banner on a small part of their front desk and window front. Still use your own mobile as phone front.

It could be that shop in town in Melbourne......I am not sure what it is called, but they sell lots of caps, NBA gear, shoes, some colelctibles, etc.

So your businesses could compliment each other. You can already get people going through. It is already an established place. You may get new people into the hobby. They may be able to provide a low cost lease for you. All you need is a small display case, for a few nice cards for display, and folders, boxes of bases to trade, some boxes, NO cases (maybe for cases, they could buy and then pick up another day).

You could arrange with them, once a week you come in and take some of their space?

This could be a nice transition to see if it will actually work out as a viable option.

Ersk

exzibit3 · Sep 30, 2015

Ersk's idea is a good one. Low risk and you maintain your normal work and salary so you would only be supplementing it. Do it on a Saturday/Sunday where young professionals with money to spend would be able to visit the store. Organise your group breaks during that time, get people to see first hand the excitement that busting cards will generate sales.

cherrycollectables · Oct 1, 2015

@everyone THANK YOU so much for this incredible feedback!!

We are looking at the CBD, Camberwell, Caulfield and Hawthorn at this stage.

The key focus is that if we are out of the city, we want a 10-15 min train/tram ride distance so its easy for visitors.

We need 90sqm or more and @Billyhoyle close to courts, pubs, tabs etc is a win!

I will keep you all posted and throw some options up as they come along!

cherrycollectables · Oct 1, 2015

@Ersk it sounds good in theory, the reality is that its near-on impossible to do in any professional sense. I have approached a few spaces that have first floor space, but they are not interested in sharing opening hours...

drsma1 · Oct 1, 2015

mattyman76 said:
Caulfield wouldn't be too bad an area, 3 major train lines close by, tram and buses. 5 min away from monash free way. Also potential for new people into the hobby with monash uni situated in caulfield. Potential for lot of walk in customers. Plenty of pubs around.

Agreed. Theres also a shuttle between Monash campuses...so plenty of people coming into the area during the week as well...not just weekends. Caulfield race course has plenty of visitors...advertising at the station in some way could get you a lot of walk ins.

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