Achilles heel.

keets

What do you think is the Achilles Heel for the smaller dealer(s) with a B&M that does local/regional shows several times throughout the year?? What is their greatest weakness or the single thing that holds them back from more success??



Al H.

keyman64

#1 Knowledge.

#2 Business Acumen.

ShadyDave

Attitude

BillJones

I think that a fully fledged B&M store is an impediment these days. You have a lot overhead, and you spend too much time and capital on low end cheap coins that keep you in business don't help you grown. Most of the successful dealers I know don't have a store, but they do have an office where they can conduct business with a select clientele that might include dealers and advanced collectors.





It takes talent to turn big coins, but if you can do it on a consistent basis and get good inventory turnover, that's the way to grow.

PRECIOUSMENTAL

'The internet killed the B&M store'

Taken from the first 'rock video' aired by MTV, 'Video killed the Radio Star'.

Zoins

Too much time spent on the B&M.


For a smaller dealer, having a B&M can distract them from and take time from having a good online presence.

Hydrant

Condescending attitude towards newbies and young kids. Deadly combination that adds up to no new customers.

abcde12345

Buying right.

Selling right.

kaz

I think it's being killed on overhead while so much more business is now conducted on the internet by people without an actual store.

TigersFan2

Bad attitude, poor customer service, poor presentation.



Back in the late-1990s I visited a couple of B&M shops in my locality. Both didn't seem to care that I was in their store. Both had a poor display of coins. To run a successful B&M store, I think the owner needs to be friendly and make the coins accessible for customers to look at and purchase. Good customer service is free to provide, yet it's not always there.

drwstr123

It's kinda like food, only different.

The up-coming generation hasn't much of an idea what a truly home-cooked meal is.
Their apple pies are assembly made.
The meats are far from range fed.

Their idea of a small, owner shop is nil.
It's called progress.

291fifth

Failure to turn their stock quickly. Looking at their offerings is like visiting with old friends.

cmerlo1

An 'I don't need your business' attitude.

lkeigwin

Without a website the B&M is limiting its business to local traffic. That's a significant weakness.



Building a site and populating it with decent photos is not as difficult as it seems. The upside can be very big, depending on inventory.

Lance.

DRUNNER

Customer service . . .



The majority of the shops I frequent seem to be controlled by sour old fogies who really do not desire repeat business. It is sad . .



Perhaps a bowl of peel-and-eat shrimp would help ????





Drunner

DollarAfterDollar

Getting better deals involves selling things to free up money to make better offers. Having low end of the pool inventory keeps you in the low end.

Boosibri

Overhead

ricko

Overhead costs that tie up investment money. This is followed closely by adherence

to old business models that no longer work. Cheers, RickO

Kaline6

For every one that goes under due to insufficient knowledge about coins, many more go under because of poor business practice.

The fact that owners may enjoy the hobby is wonderful but can sometimes be a detriment; antique dealers always say don't deal in what you like...just my 2 cents...

ctf_error_coins

Overhead



As an internet dealer, I can never imagine opening a B&M, dealing with overhead, security, and retail customers.

CoinRaritiesOnline

Business acumen, specifically in the area of inventory management.