A few things from people I know that ran their own business.
When you run your own business, the boss may be a tyrant.
3 things of a successful business, Net profit, cash flow and return on investment. (they seem the same but are different)
Great service and doing quality work are required for return customers.
What I see from the successful hobby stores here, you will need to be into RC fairly heavily also. Cars and planes.
When I was in High School, I worked in a pharmacy. Private one owner, one pharmacist business. Even his son who was a pharmacist in one of the big pharmacies in the area didn't understand how he survived. He had gone banckrupt twice and had 0 credit, but he did well. How? First low inventory, little cash tied up on sales. He would sell all day and get the money. If he didn't have enough product he would partially fill the order and we would deliver at night. Average 20-30% of his daily sells were delivered after he had the cash. Also he carried very little over the counter stuff. He stated it was a sink hole in his business. Why did it work? His net profit was similar to others, but the ratio of money on the shelf vs. how often he sold or turned the inventory was much better than all the others. Building footprint was small compared to customer traffic. Cash flow was good, he had cash for the inventory and he used it to pay for daily resupply. He had a simple system that took 20 minutes a day to re-order. His wife was the accountant.
Things that worked for the pharmacy. Daily supply that was quick. Low inventory, high turn over of inventory. Had money to pay the bills, even if it was day to day. High customer loyalty, he answered questions and treated all well. Even when he was having a bad day.
Other ideas. How much inventory can you carry and pay as you sell? IE you are the warehouse for the product?
Investigate how other successful hobby stores work. We had one here that lasted over 50 years. Until the owner retired. She started as a single mom as I understand in the 1940's. In the not so rich area of town. When you entered you saw fun. Treating everyone well made the business. Christmas Lay-a-way plans, they even had a catalog and mail order sales when only "Sears" did such things. Innovation.
How are you going to get customers to know you are there. How are you going to get them to look at you online or enter the store? What will have them buy from you vs. anyone else. How do you get consumer trust.
Simple right?
