Some free business advice please….
A friend of mine runs a record shop in an up-and-coming part of Hackney and is looking for a partner in order to expand the shop and its stock. I have expressed a slight interest in doing this – which would mean me sticking in some cash and becoming his silent partner (continuing in my current job as normal). The sums involved are little more than I expected which is making me a little lukewarm about the idea….and if I’m (cold) rational about this, and think beyond the excitement of being part of a record shop and all the potential offshoots…I think about the number of record shops I’ve seen opened then closed over the years (even ignoring the whole digital music-records-r-obsolete argument) .
Any advice? Would I be mad?
A friend of mine runs a record shop in an up-and-coming part of Hackney and is looking for a partner in order to expand the shop and its stock. I have expressed a slight interest in doing this – which would mean me sticking in some cash and becoming his silent partner (continuing in my current job as normal). The sums involved are little more than I expected which is making me a little lukewarm about the idea….and if I’m (cold) rational about this, and think beyond the excitement of being part of a record shop and all the potential offshoots…I think about the number of record shops I’ve seen opened then closed over the years (even ignoring the whole digital music-records-r-obsolete argument) .
Any advice? Would I be mad?