Opening a store...

[Spivonious]

There are lots of dealers on here, so I figured it was a good place to ask.

Lately I've been playing with the idea of opening up my own guitar store. There aren't any good ones in the area (all we have are the school band instrument stores that also sell a few Squires and Epiphones).

There are a few prime storefronts available in an up-and-coming shopping center. What do I need to do and is it a good idea, i.e. is it possible to be successful doing this? I would eventually have a web site too (I'm a computer programmer by trade). What kind of initial investment would I need to fill a store with some metal-oriented gear (Jackson, ESP, Mesa, Marshall, etc.)?

[straycat]

Location is everything.But rent will be high in a new shopping area.If you can find an established high traffic location the rent may be lower.

[kelly user]

is there really a high demand for it in your area. especailly for mesa and such, you could have a few items here and there, and start off like a mail order company. then once you've made a name for your self then you can start taking out bigger loans so you can have guitars on hand. a perfoemance auto part store here in my area did that, and they exploded!!!!!!!

and DUDE GO FOR IT WTF, imagine all the equpiment at your finger tips

[OnlineStageGear]

It's not the money it takes to fill the store, it's the minimum buy-ins for each line. Get yourself a couple guitar lines, I recommend Jackson, and when you get in with Jackson, FMIC has a whole accessory line which can fill a lot of shelf space and whatnot. Also sign up with a couple other wholesale distributors for getting picks/strings and stuff right off the bat then you can start getting them direct from the manufacturers. You can shell out 20K and not even fill 1/2 your store or you can fill it to the rafters for 10K. All depends on what you buy.

Matt

[hippietim]

I think the key to a successful guitar shop is giving me excellent prices.

[ApeDosMil]

Well it matters how you want to do it. If you're going to have mid range to expensive guitars your turnover rate is going to be very slow. This is why most stores have low end guitars because they buy them for really cheap and sell them at a decent profit which is my guess. Do you have any business experience, that always helps.

[bonghits]

I think the key to a successful guitar shop is giving me excellent prices.

I'm with ya there Tim!

[CharvelRocker]

DONT TRY TO GO IN UNDER CAPITALISED! This will lead to diaster down the road. Look around, see what guys have in stock. Try to offer something different. The market here is bordering on fierce with Guitar center, so I don't knwo what area you're thinking of, but its gonna be hard to get your name out. You've got 6-7 retailers all by eachover (asi n like 25 miles). PM and I'll give you a run down of area shops I dont know if you know about... I know most of the shops here. The good, the bad, and the down right ugly

EDIT: You said up & coming.... Are you talking the shopping center by Musser's Market at the Buck?

[Spivonious]

DONT TRY TO GO IN UNDER CAPITALISED! This will lead to diaster down the road. Look around, see what guys have in stock. Try to offer something different. The market here is bordering on fierce with Guitar center, so I don't knwo what area you're thinking of, but its gonna be hard to get your name out. You've got 6-7 retailers all by eachover (asi n like 25 miles). PM and I'll give you a run down of area shops I dont know if you know about... I know most of the shops here. The good, the bad, and the down right ugly

EDIT: You said up & coming.... Are you talking the shopping center by Musser's Market at the Buck?

Well, as far as guitar stores in Lancaster there's Menchey's, Music & Arts, Manor Music, Roseville Music Center, and the new Guitar Center. Manor is way overpriced, Guitar Center is Guitar Center, and the others all have very small selections.

The shopping center is Golden Triangle off Lititz Pike...it's an old one, but a lot of new stores are going in there and it seems to be gaining popularity. The Buck would be kind of a bad location IMO.

As far as I know, no stores here offer a good selection of Jacksons, any Mesas, and a quality service, so that's what I'd be primarily offering. Plus there's always offering lessons and such. I have no experience running a business, but I've worked at many retail places where I had ideas that helped sales a lot.

Matt, $10k seems low to me to stock a guitar store. Are the markups that much?

[CharvelRocker]

Drums Etc. and Lifesong both offer a lot of Jacksons. I would carry ESP and LTDs as well, as the only dealer here is roseville, and they defien over priced on everything they sell. (Plus they tried to pull a fast one on me with a Kirk Hammett guitar...). Also not too many dealers here carry Peavey. As for service, the best in the area is probably Manor Music, followed by Lifesong (note though Lifesong doesnt do repairs, and I'm not sure Drums Etc. does either). All thje Epiphone dealers here suck too. Menchey is awful, and Music & arts isnt much better. Might want to see about PRS guitars as well, as no one seems to keep their SE's in stock... You know what price points will appeal to people, so keep that in mind when you buy stock. Also I know where you're talking about in terms of the Golden Triangle. Some nice spots there.

[fett]

Being an old wet blanket , here's what I would think about before doing such a thing. 1. Location; 2. You would probably have to sign a lease; 3. Watch out for net-net. Do they get some of your profits?; 4. Have, at least, 6 months rent in the bank; 5. Don't touch that; 6. Will you have employees?; 7. Can you buy inventory at a price that will let you compete?; 8. Have capital, not the rent reserve, at least 3X what you think you need; 9. Be prepared to make this a 2 year commitment regardless of how slow it is initially; and 10. COMPETITION. What is it that will want to make buyers come to your store and not the established ones? I am sure there are more reasons to think real hard on this. 9 out of 10 small businesses fail for one reason or another. Other than that. Go for it.

[mm2002]

I say if you have the ambition to start a business go for it. The best thing that could happen is you'll have accomplished something very few folks do, and be doing something you enjoy for a living. The worst is you file bankruptcy, write off your losses, and start over. Either way, you'll gain tons of experience, and I'm talking the kind you can't learn in college. I've been self employed for 8 years now, and I'm finally doing something I enjoy. Even with the stress of business ownership, I'd never go back to working for someone else. If you dream it, do it. If you fail, try again. It's really that simple.

[Spivonious]

Thanks a lot everyone for your input. I'm in the very preliminary stages right now, so everything you all say is much appreciated. I'll let you know how things develop.

Mark, I'm sending you a PM.

[kelly user]

Do me a favor, what ever you do make sure you screw your local guitar center over they fucking suck

[buzzsaww]

Thanks for starting this. I have been thinking about opening a store here. Any info provided is greatly appreciated!