Question for all my punter friends on here...

[senator L]

I guess it depends on what your marketing/selling. Is it a certain style of clothing/hats that you think are hip? Or is it like horse hats where you need a license to sell the horse merchandise - name specific?

[TheSpyder]

CB.

I think you just hit the nail on the head why it won't work, and this is from somoeone in the textile/industry.

"If marketed correctly" There in lies your problem.
I'd say you're 45 or older. In today's world getting to your customer's will only succeed on-line. And the cost to get to those customers, which are very specific, will be too costly. The first questions are how much do you have to invest, what does success look like, and what is your supply and distribution?

Originally Posted by CheekyBird

Hi Senator,

Thanks for responding. Why do you agree w/hubby that it would be tough go? He thinks horseplayers would rather gamble $45 instead of buying a hat or shirt. He says "look around the track... do some of these people look like they care what they are wearing?"

I say if marketed correctly and specifically, certain horseplayers would purchase items.

[CheekyBird]

Originally Posted by TheSpyder

CB.

I think you just hit the nail on the head why it won't work, and this is from somoeone in the textile/industry.

"If marketed correctly" There in lies your problem.
I'd say you're 45 or older. In today's world getting to your customer's will only succeed on-line. And the cost to get to those customers, which are very specific, will be too costly. The first questions are how much do you have to invest, what does success look like, and what is your supply and distribution?

I'm 36
I don't have a retail background, but I have marketing degree. Hubby and I have been following horse racing since 2011. Game attire that is available on line and elsewhere skews older, and quite frankly, is uninspired.

If this idea is viable, I will sell my vintage Porsche :-( and we will dip into our savings/inheritance. I am in the process of putting together a marketing plan. Hubby is tasked with researching licenses, supply, distribution, etc.

Thank you so much for your thoughts. Very helpful.

[freddymo]

Originally Posted by CheekyBird

I'm 36
I don't have a retail background, but I have marketing degree. Hubby and I have been following horse racing since 2011. Game attire that is available on line and elsewhere skews older, and quite frankly, is uninspired.

If this idea is viable, I will sell my vintage Porsche :-( and we will dip into our savings/inheritance. I am in the process of putting together a marketing plan. Hubby is tasked with researching licenses, supply, distribution, etc.

Thank you so much for your thoughts. Very helpful.

Keep the Porsche; it's a finite market

[moses]

I’d be mildly interested. My wife, not so much.

I wonder if you targeted race tracks if there is a market there, rather than direct to the buyer. I also wonder if you could build the business based on targeting buyers for major race days like the TC races and breeders cup.

Anyway, good luck!

[jms62]

Originally Posted by freddymo

Keep the Porsche; it's a finite market

This times 10. A niche market consisting of mostly older men.

[CheekyBird]

Originally Posted by jms62

This times 10. A niche market consisting of mostly older men.

Just wish we had the to have it fixed properly. Mostly needs a paint job. Problem with heater (as is the case w/most of the older Porches I've been told). Only 83,000 miles. We had electrical work, wiring, all that taken care of a couple years ago. New cabriolet top. All that. But it just sits there. Plus, private parking but no garage at our condos. I love it. It was a graduation presebt from parents. But may be time to say goodbye if a nice older man can promise to take care of it

[CheekyBird]

Originally Posted by moses

I’d be mildly interested. My wife, not so much.

I wonder if you targeted race tracks if there is a market there, rather than direct to the buyer. I also wonder if you could build the business based on targeting buyers for major race days like the TC races and breeders cup.

Anyway, good luck!

Cheers. Perhaps I'll target the larger tracks. I don't know if they have gift stores. Adding that to my research for the bricks & mortar component. Gulfstream looks like it might have a gift store (I mean... if you're going to have a "Gentleman's Club.")

[Dawgswin]

Originally Posted by CheekyBird

Just wish we had the to have it fixed properly. Mostly needs a paint job. Problem with heater (as is the case w/most of the older Porches I've been told). Only 83,000 miles. We had electrical work, wiring, all that taken care of a couple years ago. New cabriolet top. All that. But it just sits there. Plus, private parking but no garage at our condos. I love it. It was a graduation presebt from parents. But may be time to say goodbye if a nice older man can promise to take care of it

I very much appreciate your creativity and obvious enthusiasm.

If you don't have the capital to completely restore your Porsche, you don't have the capital to start a retail apparel (or any other) business that will survive. Yes, even if you do sell the car.

[CheekyBird]

Originally Posted by Dawgswin

I very much appreciate your creativity and obvious enthusiasm.

If you don't have the capital to completely restore your Porsche, you don't have the capital to start a retail apparel (or any other) business that will survive. Yes, even if you do sell the car.

I should clarify. It's not that we don't have the capital to restore the Porsche, it's that we don't know if it's worth putting $20K in the car rather than starting a business. It may be this apparel business or another type of business. We have some money (inheritance, trust fund, savings). Just trying to figure out next steps in securing our future. I think we are doing all the right things... we have stocks, hubby has 401K, I am a consultant so I have an IRA, we own our condo, no debt... so we're pretty secure for 30-something-year-olds. ::fingers crossed:: We just want to do something fun, together, as a couple; and we love horse racing

[moses]

Originally Posted by CheekyBird

I should clarify. It's not that we don't have the capital to restore the Porsche, it's that we don't know if it's worth putting $20K in the car rather than starting a business. It may be this apparel business or another type of business. We have some money (inheritance, trust fund, savings). Just trying to figure out next steps in securing our future. I think we are doing all the right things... we have stocks, hubby has 401K, I am a consultant so I have an IRA, we own our condo, no debt... so we're pretty secure for 30-something-year-olds. ::fingers crossed:: We just want to do something fun, together, as a couple; and we love horse racing

You could buy a horse!

[CheekyBird]

Originally Posted by moses

You could buy a horse!

LOL! I've never even ever had a pet. No. I/we could never own a horse. The irony is that though we enjoy racing, I'd worry every race that he/she would break down

Mind you, hubby has entertained the thought. I don't know if it would be a good investment. Maybe being part of a group... it'd have to be a fun group though Wouldn't mind hanging out with Wes Welker or Gronk. Ha! As if.

[ScottJ]

Originally Posted by CheekyBird

I am thinking of starting a UNIQUE horse racing inspired clothing line. While supportive, hubby says it wouldn't work because gamblers would rather gamble than spend money on t-shirts, hats, etc. I say he's been watching too many re-runs of HBO's "Lucky."


Market Research:

1) Do you own horse racing inspired attire? If so, what type? (e.g. specific horse, track, race?)

2) Would you purchase such attire? If no, why not? If yes, what appeals to you and what doesn't?

3) If male, would your wife/significant other be interested in attire appealing to women?

Your input is much appreciated.

Cheers.

Cheeky Bird : I read your post and thought something very different from many of the posts.

I was NOT thinking about racetrack swag material, but dress that fits for high end racing (Saratoga, Keeneland) that you might think "Hamptons".

Men's wear would include pastel sport coats and matching slacks, summer shirts, shoes, and such. For women, I was thinking summer dresses made for the average woman, not the size 2-6 crowd that you will see in boutiques across Saratoga's Broadway. Yes, this would be incredibly interesting if you found the right price range and fabrics. Absolutely something you would want to test market with a small collection to gather opinions.

[CheekyBird]

Originally Posted by ScottJ

Cheeky Bird : I read your post and thought something very different from many of the posts.

I was NOT thinking about racetrack swag material, but dress that fits for high end racing (Saratoga, Keeneland) that you might think "Hamptons".

Men's wear would include pastel sport coats and matching slacks, summer shirts, shoes, and such. For women, I was thinking summer dresses made for the average woman, not the size 2-6 crowd that you will see in boutiques across Saratoga's Broadway. Yes, this would be incredibly interesting if you found the right price range and fabrics. Absolutely something you would want to test market with a small collection to gather opinions.

Ding! Ding! Ding! OMG, ScottJ, you totally get my thinking!!
The idea came about when we were at Delaware Park for the DP Handicap last weekend. We got "sky box" tickets on the 3rd floor, but roamed around from floor to floor. I noticed that the 3rd Floor people are completely different from the 1st floor people. My line would appeal to the 3rd floor people (although I LOVE the 1st Floor punters and all they do for the game... but this is business).

Many of the "3rd Floor" types already purchase posh outfits with brand names like Prada, Armani, Gucci, Dolce, J Crew, etc. So, I wouldn't want to bore them with the stuff they can get anywhere. My vision is for very unique horse racing related pieces. I've spent the week searching and researching. I haven't seen anything that comes close to what I'm thinking.

I've spent entire weekend obsessing over this, and I thank everyone who has given feedback. Start-up costs look that they are somewhere in the $25-$50K range. Totally doable.

(As an aside... a good mate of mine invented SPIRITFINGERZ. Look them up. Bloody SpiritFingerz, and she is now a millionaire!! In her 30's).