This has improved my opinion of Phil exponentially

Discussion in 'V.C.'s Parlor' started by DougMen, Jul 12, 2020.

  1. DougMen

    DougMen Squier-holic

    Age:
    66
    Jun 8, 2017
    Honolulu, HI
    I just watched this Q&A video from Phil on YouTube, and his explanation of how little profit margin mom and pop stores actually make was refreshing, and bear in mind that small dealers are constantly squeezed by the giant chains to sell for less to match their prices, and then the mom and pop stores have to try to survive on smaller and smaller margins. You have to look at not just their cost for inventory, but all the hidden costs too, rent, payroll, insurance, taxes, licensing fees to city and state, maintenance fees (if they rent their store), as well as percentage of sales (if they're in a strip mall or any other shopping center), electricity (imagine how much that is, with amps and lights and AC on all day every day, using power), interest on the credit they get from banks and finance companies to buy inventory, and all the other hidden costs, that have to be paid out of revenues before they actually turn a profit.

    And, I'm not sure about the part where he says "wives don't count guitars, they count cases, so you can have tons of guitars on the wall, as long as they aren't in cases".
     
    radiotech, BlueTele and mbroadus like this.
  2. Triple Jim

    Triple Jim Squier-holic

    That applies to all "brick and mortar" stores. I expect it won't be very many more years until the only walk-in stores left will sell clothing or food, and even those are already moving toward Internet sales.
     
    Block Head Ike likes this.
  3. DougMen

    DougMen Squier-holic

    Age:
    66
    Jun 8, 2017
    Honolulu, HI
    Yeah, won't it be fun when you won't even be able to try on a pair of shoes, or any clothing, before you buy them?
     
    BlueTele likes this.
  4. Triple Jim

    Triple Jim Squier-holic

    I haven't done that for at least a decade. I guess I know my sizes pretty well. :) I live way out in the country, so I buy almost everything by Internet.
     
  5. TheQuietOne

    TheQuietOne Squier Talker

    Age:
    61
    86
    Aug 11, 2019
    oshkosh, wi
    So do we, but we're misanthropes.
     
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  6. Triple Jim

    Triple Jim Squier-holic

    I'm afraid we probably are too. We should get together. No... wait...
     
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  7. DougMen

    DougMen Squier-holic

    Age:
    66
    Jun 8, 2017
    Honolulu, HI
    That's all well and good if you buy the same pants, shirts or shoes every time, but otherwise sizes vary considerably from one brand to the next.
     
    Viking likes this.
  8. Triple Jim

    Triple Jim Squier-holic

    Heck, I buy everything from casual to swimwear to motorcycle gear without problems. Maybe I'm lucky.