Taking the big leap (Opening up a collectors store) in Iceland

Good evening folks and long time no nothing,

When I started 4 years ago selling coins and banknotes I often thought of the idea of opening up a store in Iceland but the thought never took off from being a nice dream. The more I have thought of it the more I hated the idea of going trough my life with out giving it a try. So about 6 months ago I decided to open up a store.

There are three reasons I took the decision to go into this business now firstly there is no store that caters to collectors in Iceland. Coins, banknotes, stamps ect. Second the rise of newcomers all of a sudden to our hobby and third the exploding tourism in our country.

But with three good things I was faced with many problems right from the start. The hardest of them all was to find a local for my shop. Down town Reykjavik is very small and housing for stores is taken or way to costly for a company that is mostly all questions.

But last week a the perfect place for my store came to me trough friends and I took it right away.

The second biggest problem is finding display cabinets and tables and in the end I will build them my self with a help of many of my closest friends who are in this business.

So next April my new store will open and with a smile on my face a new chapter will start in my life. This makes me feel at ease as I can always say if this does not work out " I gave it a go " But by god I will do my best to make this work

I will keep everyone posted on the process and have some photos

All the best
Siggi

 

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Good luck!

 

Good luck following your dream!

 

Thanks for letting us know, good luck!

 

Congratulations! Keep us posted.

 

A wise man once said, you'll never work a day in your life if you love what you do! Good luck with the shop, I'll drop by if I'm ever in the area!

 

Mazel-tov. Best wishes for success!!

 

Congrats, wish you lots of success. You may also want to create a website later on.

 

Good for you! I have no doubt you will succeed beyond your own expectations!

 

That's quite a big leap. All best wishes to you.

 

Great to hear from you again Siggi...I was wondering what happened to you. Now I see that it's all good. I know your new venture will be a success. With a great guy like you pushing ahead it can't fail. All my best to you my friend.

Bruce

 

The best wishes to you and your newly founded place of business....:thumb:

 

The first year , you may wish you'd never done it, but after you are well known and found reliable, it will be fun. Remember to stock inexpensive loupes, holders, balances, gold and silver testing solutions, the small stuff that can have a karge profit margin. Best of luck !!

Jim

 

Siggi,

My friend this is great news! It will be very stressful but also very rewarding. If I can help please let me know.

 

Goog luck to you Siggi Palma! - I think about all coin stores need a website, and use internet sales to reach out to a larger base. Have you started this process yet? I was unable to reach palmasoncollection.com.

 

Congratulations, Siggi! If I'm ever back in Reykjavik (I was there when in the Navy a few years back) I'll make sure to stop in!

 

:too-cool-for::too-cool-for:Best of luck Siggi. Should be interesting and hopefully profitable & fun.

 

best of luck!

 

If anyone deserves the best of luck it is you.

With 120,000 people you should have a very good chance.

Do you plan at this point to have a presense on the net as well?