Smal business start up costs

[Lowner]

It has been a life long dream of mine to go into business for myself. I want to start something dealing with music. I was thinking of starting a store that only sells basses, bass amp and accessories. there is one in Arizona that has bben in business for quite a while. But start up costs would be very high, I am assuming. I was also thinking of starting a Music -Go -Round franshise. But it costs a lot of money for one of those, too. I think its around $ 300,000.00 for the Music go round.

How much do you think it would cost to open a bass only store? Do you think it might be cheaper and perhaps more profitable than a Music -Go- Round( which sells all types of used instruments)?

[whitedk57]

I would tend to think that a bass-only store would only thrive in a large metropolitan area. I live in Albuquerque, and I visit the local music store regularly - and this is by far the most popular store in town. The turnover on alot of the basses there is slow (IMO). It seems that I see the same basses hanging on their wall for extended lengths of time. The basses there range from around $200 to $2000 and tend to be Ibanez, MusicMan, Fender, Peavey, Warwick, and etc.

Now, Albuquerque is a semi-large city of about 500,000 people. Unless you have support of internet sales helping you, I could see a bass-only store being a risky business.

But, we also have a Music-Go-Round here as well. Everytime that I am there, it seems that there is quite a few customers in the store.

[Wesley R]

1. Bass only is way cool and all, but an all bass store limits your target market huge! This also means that you and your staff (if any) do not have to be experts at Guitar, bass, keys, PA, lights, pro-sound, lessons, acoustic guitar, etc.

2. Franchises (in general) cost because they provide the formulas, policies, procedures, advertising (joint use dollars etc), name rcognition, etc. that you do not have to develop or experiment with. Can save you big time $.

3. Assemble as much cash and credit as poissible (opinion, not fact)

4. A old and succesful music store owner in a large metro area had a long heart to heart talk with me. When he asked me if I was in the buseness, I said used to be. He thought I owned a store and went bellies up. His main theory was stay out of the fancy malls etc. and do a rent to own on the cheapest building in the worst part of town (his shure was, I was kinda scaired for my wife and sister who were with me) and keep that overhead down.

5. Seriousely consider taking advantage of being a woman and register as a Woman Owned Business. If you are a Vietnam Era Vet, wouded or POW use the programs available to you.

6. Consider locating in a HUB Zone.

7. Maybe register on the Federal Mall, costs a few bucks, but you have a guarenteed return.

8. Higher volume stores can beat you on the buy, beat them on the sale and service.

9. Email Munjibunga, he is a very sharp businessman. I hope is OK with my recommending him.

10. I hope you do it and are very succesful.

Best of Luck,
Wesley R.

[theshadow2001]

I think you would be crazy to exclude guitarists from your potential business. Think about it. Look how much bas players are in demand. Look at how guitarists are a dime a dozen. There's just so much more guitarists out there that need strings and guitars and amps it would make good business sense to cater for them. That said you could specialise in bass stuff. have maybe some more exotic or rare stuff on offer that might attract bass players from further a field. As opposed to a few fenders and a bunch of SX's and encores which is what you usually get around these parts.

But I don't think a bass only store is the way to go. Market research would help alot.