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Retail shop ideas

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  1. #1

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    Retail shop ideas

    Hi.
    In terms of retail shops what do you think would be a good idea for Hong Kong and specifically Central? Some friends are thinking of opening a shop in Central (soho area) and are exploring options in terms of use. What kind of shop or what products would you like to see be available and particularly in that area? Certain types of foods? Gifts (perhaps related to Hong Kong)? Recently there has been an influx of tourists around Soho especially on weekends so this might be something to explore. Otherwise there may be an opportunity to cater towards the expat residential community that lives nearby, which is perhaps the reasoning for a food/wine store of some sort. Would appreciate any comments at all, both positive and negative! Thanks


  2. #2

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    What is your monthly budget for retail space rent in Central?


  3. #3

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    the retail space is small (around 350 sq ft) so the rent is relatively cheap so is not too much of an issue just yet. Primarily the idea is to explore options which would benefit the area or come up with something perhaps unique which might be not be so readily available in HK at the moment.


  4. #4

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    Otherwise there may be an opportunity to cater towards the expat residential community that lives nearby
    Have always wondered how well a bi-lingual services desk of sorts would perform in that area.

    English/Canto speaking handyman / locksmith / computer repairs & setup etc. Able to maintain a rolodex of providers who can be called in if they cannot service?

    Just a random suggestion from when I lived in the Mid-Levels over 15 years ago.
    Coffeeblender and gigglinggal like this.

  5. #5

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    Quote Originally Posted by emx:
    What is your monthly budget for retail space rent in Central?
    no matter what products/ services you provide, this is the most important part. Determines what you can actually offer and what is your minimum break even at your chosen price points.

    From a retail prodicts persoectice, Hong Kong has pretty much everything covered with the exception of Niche products from Japan, Germany and other leading manufacturing nations. However, this is niche and unlikely to get the warranted turnover you require.

    I think the world needs services around dealing dealing with social retardism, overcoming FOMO, getting over high dependency on smartphones and actually finding suitable partners.
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  6. #6

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    Quote Originally Posted by DimSumBond:
    I think the world needs services around dealing dealing with social retardism, overcoming FOMO, getting over high dependency on smartphones and actually finding suitable partners.
    *cough* Geo *cough*

  7. #7

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    do something that others cannot copy within two/three months if they see some queues in front of your stores...


  8. #8

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    thanks for the suggestions. How do people feel about a small deli type shop which would sell pre packaged food items such as cheeses, olives etc (mainly Mediterranean type items). Obviously there are supermarkets/other shops nearby which sell these type of items but usually their prices are generally quite high so there would be an opportunity to offer at a more favorable rate perhaps.


  9. #9

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    Never start retail with a low price in this town. Your costs will be very high during startup esp for ground floor retail.


  10. #10

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    Quote Originally Posted by Monim:
    thanks for the suggestions. How do people feel about a small deli type shop which would sell pre packaged food items such as cheeses, olives etc (mainly Mediterranean type items). Obviously there are supermarkets/other shops nearby which sell these type of items but usually their prices are generally quite high so there would be an opportunity to offer at a more favorable rate perhaps.
    As well as the rent, have you also considered expenses such as employee wages and MPF, insurance (owner, property, employee, customer), utilities bills (including back-up system if you need refrigeration), import documentation and expenses, local logistics, advetising, etc., etc., etc.?

    If you start with low pricing and then the US$ tanks (taking HKD with it), you will be right royally up the creek.

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