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Own music business!!!!


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How hard is it to open your some people say if i take out i loan i will never pay my self back. Well if i want the store to do good what would be a googd music city? I was thinking Memphis myself but any one have any suggestions of cities or help on how to open the store? This is what i want to do when i get out of school. How much money does it take to open the Business? And one other question how do i get licensed to sell the brand name guitars Gibson, Fender, Esp, etc. Any info will be very helpfull!!!!!!!!Thanx

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Well...you will need a lot more than money. But you will need a ton of $, too.

First off, you need to lease a building and outfit it (and depending on where that is the cost will vary widely), plus your first six months of orders will likely have be done cash up front/wire transfer or similar. Once you establish your credit with some vendors, it gets easier.

 

 

Gibson? Forget it...you may have a shot at Fender Squier...even Epiphone may not talk to you.

look at starting small, building a reputation. THere are a zillion instrument and gear manufacturers now, especilly in China, Korea, Indonesia...and many are looking for 'brick and mortar' outlets.

 

You may do better running an online import/trade business rather than taking on the overhead and expense of a physical store.

 

Have you worked in a music store? It is a margin driven enterprise.

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I think the brick and mortal music stores will eventually be pared down to:

 

1. General music stores that make their money off lessons, accessories, and band instrument rentals, or

 

2. Niche stores that specialize in something and do it very, very well.

 

Now that Wal mart and other national chains are selling guitars, drums, and even band instruments, they own the $99 guitar market.

 

You have to decide what you are really good at and what you are passionate about (they usually go hand-in-hand). Then start small and see if your idea works on a low level. If so, keep growing it.

 

Is there a compelling reason to pay rent? Can you sell on-line out of your house until you prove your business is worth further investment?

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It's even getting more difficult to makea living bricks and mortar style with used gear thanks to ebay, craigslist, etc. Offering repairs, lessons, and other non "online" stuff will help. But even then....I sure wouldn't go out and lease that Mercedes just yet.

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oh, and, yeah.....there are plenty of free lessons and even a number of (paid) repair places online.

 

Jesus...now I'm bumming myself out.

 

Looks like service may be your differentator. People like to buy from people ....that they know and can trust. IF you are competitive.

 

Oh, and like a previous poster said.....English classes............

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