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starting a music store?

Discussion in 'Miscellaneous [BG]' started by Every1TookMyName, Sep 4, 2002.

  1. For economics we have to design our own business... I decided to start a guitar shop. I was hoping to make it something like Bass Central or Bass Palace. Here's what I'm going to sell: guitars, basses, amps, effects, PA systems, keyboards, drums, as well as reparing and modifying instruments and renting out PAs. As far as bass and guitars go, I'd like to specialize in mid to high end production basses and guitars... most of the instruments would be from $600 to $1500, though I would still carry lower quality brands.

    I was hoping to make it as big as the Mars Music in Houston (I'm not sure how big that is compared to others), and I wasn't sure how many employees I would have to hire. I need to know how much I would have to pay (where can I find dealer's costs?) for instruments, and other expenses. I also need to know how much I need to sale to break even. I'm kind of in the dark right now, so please help.

    I'm going to carry these brands (though I need suggestions... I like the more traditional instruments, but I just put down what came to mind):

    bass - Fender, Squire, Ernie-Ball, Ibanez, Rickenbacker, Yamaha, Lakland, Warwick

    guitar - Ibanez, Fender, Rickenbacker, Yamaha, Squire, Gibson, Martin, Taylor, ESP, Hamer

    amps - Ampeg, Marshall, Peavey, Vox, GK, Fender, Mesa-Boogie
  2. BryanB

    BryanB Moderator Staff Member Supporting Member

    I give it 3 months. :rolleyes:
  3. Hategear

    Hategear Workin' hard at hardly workin'.

    Apr 6, 2001
    Appleton, Swissconsin
    I would expect retail cost on most new items to be anywhere from 100 to 150% more than dealer cost (I could be wrong, but when I worked in a motorcycle shop, our markup was 100%, meaning a $100 tire sold for about $200). One thing to remember for your project: You are in business to make money -- don't give the products away for free! ;) Also, know that most customers are willing to pay a little bit more, as long as the service is absolutely top notch! I don't know if that helps you in your sitch, but it's good to know, right? I'm gonna check this thread out again when I have some more time.

    Good luck in your progress and I hope your "business" grows and grows and grows!

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