Andi70 Posted November 30, 2014 Share Posted November 30, 2014 Hello people! I've join this forum to see if I can get any advice in regards to a project I am undertaking I have decided to turn my passion for music into a career and I'm looking into the possibility of starting my own collectors and new records, CD's and memorabilia retail business. Do any of you guys have any experience or know of anybody who would be kind enough to offer help and advice? Any help at all would be great Andi caninesapien and fallenmatador 2 Quote Link to comment Share on other sites More sharing options...
Satan Posted November 30, 2014 Share Posted November 30, 2014 Dont move to Ferguson. DakotyTSI, mjglor, Metal Mike and 2 others 5 Quote Link to comment Share on other sites More sharing options...
unknown pleasures Posted November 30, 2014 Share Posted November 30, 2014 Move to Ferguson. Only stock copies of NWA 'Fuck the Police' 12". nancy_raygun, DakotyTSI and funtitled 3 Quote Link to comment Share on other sites More sharing options...
eight1echo Posted November 30, 2014 Share Posted November 30, 2014 Uh, don't do it? I work in a record store and while it is definitely more profitable that it used to be, I doubt it will last. The industry is pushing so much bullshit product that it is only a matter of time before people realize they are being taken advantage of. The thing that has and will continue to keep my store alive is the few older customers who have been coming in every week for years and years and have been buying music for the sake of the music, not the colour of the vinyl. Vector53, Duff, AlexH. and 7 others 10 Quote Link to comment Share on other sites More sharing options...
smailtronic Posted November 30, 2014 Share Posted November 30, 2014 Uh, don't do it? nancy_raygun and AlexH. 2 Quote Link to comment Share on other sites More sharing options...
kjkenney Posted November 30, 2014 Share Posted November 30, 2014 pretty much what Olsvik said! If you do do it, know your customers, know your shit, find multiple outlets to obtain and move product, remove any attachment with sweet shit you find along the way (rule number one in my book for second hand selling of items associated with a hobby you have love for), know what sells around you, be fair with prices and be okay with not being able to sell stuff for top top dollar every time. Realize that this is a very broken industry and while current trends can show otherwise, knowing records as a whole in their history will always be more important than understanding current obsessions with 10-20 year old bands getting albums repressed on color vinyl. I would start selling online first, if you haven't already. If you have, move out of your comfort zone and start buying and selling stuff you are a little less familiar with. I paid all my bills by just selling stuff online for about half of last year. it IS possible, but its hard. Hardest problem I had was keeping significant enough inventory to push myself beyond. Owning your own business is a blast though, I still have that going for me, and if you can pull it off then do it! Do something you love and you'll never work a day in your life toxicity, nancy_raygun and thethreebeggars 3 Quote Link to comment Share on other sites More sharing options...
iron666monkey Posted November 30, 2014 Share Posted November 30, 2014 I buy and sell collections, been doing it for quite a few years. It's a side hobby and allows me to get really good records for free and make a few bucks. I sell at local fleas during the summer because the spaces are cheap and I have an email list that I blast a week before the sale letting folks know I'll be setting up. It's a lot of work and while it's definitely worth my time, however, if I did the same thing in a shop setting, paid taxes, employees, insurance, etc., I wouldn't make a dime. It has always been a dream to open my own store, but I have a really good job and it would make zero sense to abandon that and enter into a venture that's sadly not very profitable. I have several friends that own really good shops and it's a constant grind for them, they're always asking me to help them out with buying from my stock because there's so much competition. I honestly don't recommend it unless you want to put in a lot of hours for very little return. I would recommend doing it as a side hobby like I do because it has taught me a lot, expanded my collection for free, and allowed me to make some cash to put toward vacations with my wife and home repairs. It's still like having a second full time job, but it's an all cash business and well worth the time and energy. Regardless in what direction you go in, I wish you the best of luck. nancy_raygun, gavinclancy95, thethreebeggars and 3 others 6 Quote Link to comment Share on other sites More sharing options...
youspinmeround Posted November 30, 2014 Share Posted November 30, 2014 Keep in mind with a store you need upfront cash because distributors dont take returns You need stock to drive people in and yes some of that stock will sit and sit and sit You als limit yourself to your area with a brick and mortar store. Online sales still make a large chunk of these stores business. Staring out people will stick to discogs, amoeba, bullmooses, stricly discs, reckless, twist and shout, amazons of the world when they dont live near a store My opinion. Shop still close up everyday. The ones that survive are ones who have established a customer bases over decades. Look at the names I mentioned and how long they have been around. They have diversiifed their selections(toys, movies, used, new, etc) to cater to a larger audience nancy_raygun 1 Quote Link to comment Share on other sites More sharing options...
nancy_raygun Posted December 1, 2014 Share Posted December 1, 2014 You really just need to ask yourself: Do you want to own a record store or do you want to go to a record store? It's really a pretty poor investment if you intend to make money. It might be fun for a retired person who was less worried about profits, but if you're married or have kids or intend to do either then a record store really doesn't seem like the most advantageous investment. Quote Link to comment Share on other sites More sharing options...
xxmartinxx Posted December 1, 2014 Share Posted December 1, 2014 I owned a record store for 10 years. If you're into living close to poverty level, stressing over how you're going to make the rent, people complaining about what you do or don't carry, sales tax, income tax, and never having a day off, do it. I often miss it. shenanigans, Cloudsbelow, nancy_raygun and 1 other 4 Quote Link to comment Share on other sites More sharing options...
distinctlydustin Posted December 1, 2014 Share Posted December 1, 2014 Make sure you have a lot of Boz Scaggs. Quote Link to comment Share on other sites More sharing options...
eight1echo Posted December 1, 2014 Share Posted December 1, 2014 Make sure you have a lot of Boz Scaggs. No joke, classic Dad-rockish stuff sells super well. I'd say the most popular, common used records in the store where I work are #1 Fleetwood Mac - Rumours, #2 anything Springsteen from the 'hits' era, #3 Dire Straits - Brothers in Arms. All of these will sell consistently, often the same day, when we get them in stock. Quote Link to comment Share on other sites More sharing options...
somethingvinyl Posted December 3, 2014 Share Posted December 3, 2014 Add mostly anything Rush in there, Beatles, etc. Quote Link to comment Share on other sites More sharing options...
somethingvinyl Posted December 3, 2014 Share Posted December 3, 2014 Also, if you have to ask a message board, you don't know what you're doing. GradedOnACurve and Duff 2 Quote Link to comment Share on other sites More sharing options...
monsterrod Posted December 3, 2014 Share Posted December 3, 2014 Opening a brick and mortar record store sounds like a disaster waiting to happen. You should really put a LOT of thought into this before you gamble your financial future on something like this. In an era in which people can get any music they want for free, gambling on a brick and mortar shop with all the overhead that entails, just doesn't seem wise. Start an online store, work from home or somewhere VERY cheap, and build up from there. See how the money is and really take a look at the feasibility of owning our own store. Quote Link to comment Share on other sites More sharing options...
itsWetWilly Posted December 3, 2014 Share Posted December 3, 2014 I love how 4 days ago, this guy came and asked a question. Since then, there's been 14 replies and no word from the OP. Still interesting reading these posts, though. Especially the ones with experience. Quote Link to comment Share on other sites More sharing options...
forgeagain Posted December 3, 2014 Share Posted December 3, 2014 Just open up a vape shop. That's the future. dickcritter, albert and somethingvinyl 3 Quote Link to comment Share on other sites More sharing options...
albert Posted December 3, 2014 Share Posted December 3, 2014 Do it if you dont want to sell records. Quote Link to comment Share on other sites More sharing options...
mrewest Posted December 3, 2014 Share Posted December 3, 2014 There are way too many real answers in this thread. Especially since OP was made 3 days ago & hasn't responded to anyone's post. My guess is "research for a class project". Can I get a cat gif or a post about SRC? Quote Link to comment Share on other sites More sharing options...
TheGhostOfRandySavage Posted December 3, 2014 Share Posted December 3, 2014 There are way too many real answers in this thread. Especially since OP was made 3 days ago & hasn't responded to anyone's post. My guess is "research for a class project". Can I get a cat gif or a post about SRC? ? Quote Link to comment Share on other sites More sharing options...
GalacticMelt Posted December 3, 2014 Share Posted December 3, 2014 Just open up a vape shop. That's the future. I was gonna say pre-paid calling cards. Quote Link to comment Share on other sites More sharing options...
just a normal guy kevin Posted December 3, 2014 Share Posted December 3, 2014 When I was in 4th grade, we had to develop a business plan using a budget of $100,000. I chose to start a CD shop, so I called The Wherehouse (which was the big music store in my part of So Cal in 1994) and asked the employee to give me an estimate of how much their overhead was. I remember asking about the display cases specifically, and the best he could help was just telling me how many rows of display cases they had. He was probably confused as to why a 9 year old was shaking him down for hard numbers. Anyway, I remember that $100,000 went FAST. Quote Link to comment Share on other sites More sharing options...
kurtz Posted December 4, 2014 Share Posted December 4, 2014 Also, if you have to ask a message board, you don't know what you're doing. Especially a message board where most posters favorite "record store" is Hot Topic. tetsuodaironman, somethingvinyl, itsgoodtobefree and 8 others 11 Quote Link to comment Share on other sites More sharing options...
itsgoodtobefree Posted December 4, 2014 Share Posted December 4, 2014 Especially a message board where most posters favorite "record store" is Hot Topic. Hahaha Quote Link to comment Share on other sites More sharing options...
bobfrombob Posted December 4, 2014 Share Posted December 4, 2014 Yeah, talk to bake. A business plan is fundamental. And what nancy_raygun asked is a serious question. Why? I loved photography and years ago, I worked as a professional photographer. I ended up hating it because I the kind of work I had to do to make a living and the stuff I had to do to run a business that had no relationship to taking pictures. If you are interested in music, that doesn't necessarily mean you should open a record store. Get a good job and use your disposable income to buy records. If you are interested in getting into owning your own business, do some research in your area and find out where the gaps are. If that happens to be a record store, good luck. Here are some other thoughts: http://forums.stevehoffman.tv/threads/i-want-to-open-a-record-store-tell-me-why-i-shouldnt-please.397553/page-5 Quote Link to comment Share on other sites More sharing options...
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