i wanna open a music store

blackdeath020202blackdeath020202 subscriber Posts: 2
edited February 2007 in Selecting a Business
i wanna open amusic store and the only thing i know is i need
a place to open it at
i think i need about (rough guess) $30,000-$50,000 to start
find a supplier (dont know how)
I have some friends that will work with me. Not sure as partners or just work for me. we have not discussed it to much yet.
a bunch of tax and insurence stuff.
and i think that is all i know. I am reading the 10 steps but i am not sure where to start.
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Comments

  • keyconkeycon subscriber Posts: 34
    BlackDeath020202 (that name is spooky man),
    What kind of music store do you wanna open? Music, like art, is in the "ear" of the beholder.
    Maybe you mean a musical instrument store? A guitar store? A sheet music store? CDs? They`re dying, man. LPs? They`re coming back. A bongo store - that would be cool. Steel drums maybe? Wind chimes make music - I love wind chimes.
    Define your business idea a little better here and maybe we can assist you.
    [email protected]
  • blackdeath020202blackdeath020202 subscriber Posts: 2
    I want to sell cd`s and instruments. What are LPs? and craig thanks for your help. How would i find out if i need some of that stuff? Like the accountant and such. I am going to get an accountant but could`nt i do all that? thanks for ur help
     

    BlackDeath020202 (that name is spooky man),
    What kind of music store do you wanna open? Music, like art, is in the "ear" of the beholder.
    Maybe you mean a musical instrument store? A guitar store? A sheet music store? CDs? They`re dying, man. LPs? They`re coming back. A bongo store - that would be cool. Steel drums maybe? Wind chimes make music - I love wind chimes.
    Define your business idea a little better here and maybe we can assist you.
    [email protected]
  • Wirehead321Wirehead321 subscriber Posts: 0 Member
    Great you want to open a music store. I agree with Craig and the other define. Your plan and try an online store first this will get you in the business without a lot of outlay. I am designing a website for someone who wants to go into the record business for the last ten years. But first he is doing it online to gage customer response in the area and seeing how much he can get in download fees from the songs and artist he has now. Think about that maybe we can help.
  • blackdeath020202blackdeath020202 subscriber Posts: 2
    I am 20 and i am looking into clases at my local community college. I am a beginner and i am not going to do really any more with my business till i take some classes and learn some more.
  • Wirehead321Wirehead321 subscriber Posts: 0 Member
    Yes, 20 is a great age to start a business. In fact I had a record store back in the late 70`s. I was 19 went I started it, my first of many business. Back then I had no real business plan but, I knew what I wanted the store to do pay for my technical training from there. I opened a TV repair at 21. Now 25 years later. I still like owning my own business. So get more training and keep growing. That the best advice I can give you.
  • blackdeath020202blackdeath020202 subscriber Posts: 2
    thanks craig. i really needed that. I love this site and the help people give and all the information the site has to offer. I will let you all know how it is comming from time to time thanks.
  • Wirehead321Wirehead321 subscriber Posts: 0 Member
    I think we need more than follow up. If can help anyone along the way to building their business they are free to contact me and we can speak on a one to one bases.
  • blackdeath020202blackdeath020202 subscriber Posts: 2
    i need some input. I want to possible add something to my store for example:  I would sell cd`s, instruments and have a part of it a cafe or something. I was wondering if anyone had any suggestions on what the Something could be?
  • Wirehead321Wirehead321 subscriber Posts: 0 Member
    That`s good idea here`s another I am a member of meetup.com in my city. I part of several groups that meets in cafes or resturants on certain days of the month. Most owners like because on a slow day his place filled. We do all the adversting to members or propective members about the location. If all the members like the location it`s become part of our regular meeting. Try something like that there over 12,000 groups list I am sure there are some music groups.
  • Wirehead321Wirehead321 subscriber Posts: 0 Member
    Craig,  do you live in Chicago. I do too. Still I thnk that a good idea.  He could apply for a grant if he wants to teach music to schools. I am working with two non profit clients now looking to put a course together on fine arts. Maybe you join in
  • blackdeath020202blackdeath020202 subscriber Posts: 2
    Thanks onthebeach
    this is what i have so far as of a visual idea of a store
    I will have a stage for local bands to play and have a cafe so people can have a beverage and listen to bands. I will sell cd`s, LP`s, and instruments. Like craig suggested have a redording studio for people to record music they make (for a fee) or to try out a instrument.
    if anyone can think of anything else that i can incorporate in to my idea let me know. The more i can offer the more likely i am to succed. thank you all for your support.
  • txbassguytxbassguy subscriber Posts: 0
    i would look into the history of MARS Music. They were a music chain that went out of business a few years ago. I do remember they did rent out a music room for bands to practice in. They sold cds, t-shirts, instruments, guitars, etc. I don`t remember them having food or drinks. Not sure I`d want that combination around potentially $2000 bass guitars.You idea does sound intruiging though. I`m in a band and would definitely check that out. On a slow night you could have open mic night for bands and/or karaoke performances.
  • SeeUatTheTopSeeUatTheTop subscriber Posts: 0
    Hello everyone...let me start off by saying what a great find this site is.
     
    blackdeath020202...it`s great to see someone from your age group seeking out advice "before" you jump in with both feet.
     
    From my own experience of working directly with the musical accessory / instrument dealers and distributors in this industry... the best advice I can offer you at this stage is to get your feet wet by actually working in a local music store if possible. This hands on approach will give you a better understanding of everything from customer service, employee relations,
    marketing, purchasing etc...it will compliment any biz schooling as well.
     
    One of the main voids in this industry is service. The "honest sincere" type...I don`t mean high pressure sales tactics that some stores hit you with the minute you walk through the door. Help "educate and assist" the customer...if he or she feels comfortable with your "caring and knowledgeable" approach, you will have a loyal customer for life. 
     
    You can also get a feel for the industry by attending trade shows like The NAMM Show...this is not open to the public however, if you`re working at a music store, you should be able to get a pass...most aggressive store owners attend this show. Also, a couple of good `zines to be reading are Music Trades Magazine and MMR (Musical Merchandise Review)...a wealth of info.
     
    Have a great day...
  • jarziumjarzium subscriber Posts: 0
    Don`t let all the admin stuff deter you!! good luck with it! i want to know how it turns out!
  • djprocdjproc subscriber Posts: 1
    I would like to know if I can get a blanket license agreement for my library to sell online!
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