Umanov guitars closing- rant!

[Runlikegregg]

No, that's not the reason why. It's because commercial real estate prices in NYC make it close to impossible to run a small business UNLESS YOU OWN THE BUILDING. And it's not because of competition or market demand. If you have a store front and want to lease it, do you look around at other small, local businesses to assess property value? No, you look at national chains - CVS, Rite Aid, Old Navy, Starbucks, etc. - and say, "the value of this property isn't what the cupcake store next door is paying, it's what the National Chain is willing to pay" and when you've driven out the music store, does National Chain come in and rent your place? No, they weren't interested and neither were you, really. All you wanted to do was increase the value of your property from $10, 000 per month rent roll to $35, 000 per month. But, you say, if you've run your $10K renter out and you don't have your $35K renter come in, aren't you losing money?
No, because 1. you can take the lost rent revenue as a business loss against rent revenue from other properties AND 2. you can now take out a loan against the (inflated) new "value" of your property and throw it into the financial market. Since the market is currently up, you're making money in both hands.

that about sums it up!

 

[MonetBass]

OK - if it's so important, when the time comes, I'm sure they'll be willing to pay $50 a sheet to keep that business afloat to serve just them, right?

I'd like a mint 58 PBass too - but there aren't too many around, so they tend to be expensive...

Paulabass used to work in a music and store has some nostalgia for good times back in the old days. I can relate to that but the rant is ridiculous.

If sheet music costed teachers that much in-store, they would obviously go somewhere else. Have you seen the teaching salaries in Oklahoma in relation to the rest of the country? And also (obviously) the store's main revenue is made in selling, renting and servicing band instruments, guitars & basses, and pianos.

 

[CereBassum]

If sheet music costed teachers that much in-store, they would obviously go somewhere else.

My point, exactly. "Personal service" is worth only so much. People are more concerned with price, a wide selection of products, efficiency, etc. That's why many small shops are becoming unviable. It's not because 'we've sold our souls to the Fedex man'. That's BS. It's just simple economics.