Why did my guitar shop fail?
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- Опубликовано: 5 июл 2024
- #guitarshop #boutique #buyaguitar
I'm Jeremy Sheppard, the Guitar Hunter. Find great guitars that make you a better player and fill the world with music and friendship.
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How to make a million dollars in music retail ? Start off with two million.
Same is said about being a racing team owner. 😂
Big money 💰 1) Open a small guitar shop. 2) inherit a truckload of money. 3) Retire. 🏝
When you are self employed you only have to work a half day.... it just a matter of which 12 hours you want to put in
100 percent
And you only have to work on the days that end in y
It was a blast working for you Jeremy! Working with guitars and friends never gets old! I miss you bro! 🖤🤘🏼
Sup Bo!
Having a healthy online presence like you do would really be good for a future shop you decide to open.
That's good insight. I might start including some lines that I love to my online sales stuff.
And New cheapish geeters for newbies.
Here’s a great example of why guitar stores fail. When I was 15 whenever I went into the local guitar store or 2 I felt as though I was a bother to the store staff.
I bought my first electric guitar privately from a newspaper add for $500.00 when I was making $2.10 / hr. Had one of the guitar stores shown any interest in that scruffy kid smelling of KFC after his shift or tried to encourage me to even touch a guitar I would have most likely spent that $500.00 in 1980 in one of those stores.
You're exactly right because I was a used car sales manager before going into the Marine corps and some of my biggest sales was from old men wearing bib overalls either smoking on a cigar or a pipe they never drove the vehicles they walked around them and if it was equipped the way they wanted they bought them that's the problem anywhere in sales that everybody does not get treated equal because of appearance
Exactly. When I wanted to learn guitar (I was in NYC at the time) a friend who was an excellent player sent me to Mannu’s and Sam Ash on 47th street. I remember both were across the street from each other (1983). I had $400-500 to spend and neither shop gave me time of day. Eventually I moved to another town where I met someone at work who took me to a local shop. The owner was condescending but my co-worker pushed through that and I picked up a Takamine Acoustic for about $300 (1986). Had it not been for that co-worker I might never had bought my first guitar.
Later as I developed more confidence, I got a used MIJ Fernandes for $200 and a used small 12W Marshall for $100. I don’t have the Takamine anymore (the forklift of an airline saw to that) but I still have the Fernandes and the Marshall. On my part over the years, I’ve helped at least 15 of my son’s friends buy a guitar. The parents said they felt too dazed, confused and even threatened when they went alone.
So to all the guitar store owners and employees. Please be kind. Everyone has to start somewhere.
That said, my son and his friends are extremely happy with Moe’s guitar shop in Paramus NJ (Google it). It’s run by Moe ans his wife Ellen who also play music at pubs and events. This shop lives and breathes customer service. They have even worked at late as 9pm on a Friday no less to get one of my son’s Les Pauls ready in time. They also do repairs, pickup upgrades, and all sorts of stuff and are extremely reasonable (college students don’t have a lot of money). So there are some gems out there, and it’s usually the small guys.
Same thing in most guitar stores. In my town it sucks arrogant useless staff. Crap selection and it's always a mess.
Guitar Center is like Walmart when they come to your town say good bye to everyone else
They went bankrupt.
@@hewitc they still around genius
@@thedude4594 yeah they did file for bankruptcy I believe it was chapter 11. They'll stay in business in some form.
Guitarget
I own shumaker guitar works in Davenport iowa. A small shop in which I sell used stuff, some cool oddball vintage stuff, and most importantly I do repairs and restoration of all things with strings. This video is 100% legit. In this business it’s feast or famine. When I opened 2 years ago I had new, used, and consignment, had a guy giving lessons, and I did the repairs, custom builds and refinishing work. 2019 was a great year, I made a small profit and I was happy. 2020 kicked my ass.. Lesson guy quit, sales dropped almost completely, and that left me by myself to rely on to do everything. Well I had the resources to make it through although in the hole, I survived. It’s now 2021, I’m moving to a better location not in an office building like I am currently, I’m going to offer classes on building kit guitars, and I’ll be able to turn up the tube amps snd 1/2 stacks so my customers can hear them as they should be. Had I not been a luthier who can do any type of repair, I would likely be saying my business failed and I had to close. I grew up going to mom n pop guitar shops and it had always been my dream to do this for a living. I am a millwright by trade, and a former ase certified powersports mechanic, and I’ve done a lot of other mechanical jobs over the years. My grandpa taught me how to split apart a fiddle at about 8 years old. When I decided I was done working on the worlds largest rolling Mills I started investing in my self and taking classes at the Chicago school of guitar making, so when I did quit id know the ins and outs of guitar repair. I couldn’t imagine not doing this the rest of my working career, which is why I’m moving to the bigger more visible new location. Thank you for posting this video, it gave me yet another new piece of confidence that I’m at least trying to it right. ✌️
My wife always tells me "you don't have to buy something at every guitar store we go to"... but I always have to buy at least something. I feel bad if I don't.
I do the same even if it’s strings I don’t really need right then ...support local businesses
I feel the same way at the non-commercialized stores, mom & pop guitar shops. I feel obligated to buy something bc I want to see them succeed. The best "pickins" to ever take place are in small mom & pop guitar shops, especially for bluegrass style music. More like a community center than a guitar shop.
I always at least buy strings or something from every local shop i come across in my travels
Man I feel the same . Especially if I give a guitar I know I can’t buy a trial run. At least get strings or something.
I feel the same. I least I buy picks or strings.
Really speaks to me Jeremy, I opened a musical instrument shop in Germany in the mid 90's and was probably 80% used gear. My bread and butter was accessories: strings, straps, picks, polish, music and guitar stands, etc.. investment was lower, margin was higher and it was the draw for musicians to stop in and maybe happen to find a guitar they weren't even looking for.. Sadly, it was the growth of the internet, eBay and ease of Thomann that sucked the revenue out of my place. And like you, I dream of doing it again.
Was your shop in Munich?
Ich habe ein bischen Deutsch in HighSchool gelernt, und my class visited Deutschland for a couple weeks. Only got to spend one afternoon in Munchen though
This is a really nice honest evaluation of a situation. This is a guy who should succeed because he is smart, talented and honest! Thank u for the info.
Here in Des Moines, Iowa, we have several different types of Guitar shops: We have a very good shop that caters to the pro's, and carries very finely-made guitars, but also offering guitars for young entry-level players (lessons available), along with a fabulously talented luthier/tech. All the other shops in our area carry good instruments and all offer guitar lessons. And, of course, we have a Guitar Center. I think guitar shops who cater to the young budding guitar player, selling the instrument, lessons, and all the other accompanying stuff, can do very well. Any 14 yr. old kid who has been taking enough lessons to play pretty well will soon be showing back up with his dad to pick out a pedal -- then another one, then a better amplifier. Oh wait! Then, a better guitar. Trust me, I've been there. I've written the checks. And, I don't regret any of it. Our son is an amazing well-trained guitarist today at 28yrs.
Very informative. My son works at a small guitar store here in town and loves it. They have a big online business and opened a separate place across the street for lessons. They sell mostly electric but have Taylor's and several boutique used and consignment high end, Martins Collings, Waterloo, Bourgeois, Santa Cruz, even a Huss and Dalton. It is a great place and a plus to our community.
Very interesting watching as a player. Thanks for your honest discussion. Makes me appreciate how hard small businesses work.
Everybody at least in my experience looking at the general public they always think your making money...they never think about everything that it takes. The building the utilities..the expense. Of being in business.
Very interesting post-mortem of your former business, great insights. Best of luck when you start up another one, I would love to visit!
The ethereal sounds you were making at the end of this video were really cool. I really appreciate your attitude and honesty in your videos. It is obvious your goal is to be a good human being first. That said, guitars and amps are the coolest things ever and I have learned a lot from your channel. The insights into how shops make money will help me a lot in the future. I have a really cool shop called The Upper Bout in Champaign, IL which is an hour from my house. I recently bought the new PRS P20E parlor acoustic there and they treated me very well. The guitar is amazing, definitely check them out. PRS is making great stuff right now and have been for years for that matter. Take care Jeremy and thanks for the great content!
Thanks for all the input!
Thanks for the advice. Good luck on your guitar shop.
You didn't have a guitar store, you had a hobby selling used guitars, and instead of using a spare bedroom, basement, garage or even a storage building for your stuff for sale, you had a rented room to display your stuff. If you simply eliminated all that needless overhead and the restrictions of sharing a building you might still be in 'business'. You could still sell out of your home, just keep the contacts by appointment or by internet.
Great video dude hope one day u get to walk tho the doors of your own store again... you can tell its something u love and have a passion for... keep on keeping on it's great to see people doing what they love..
It’s a tough business with skinny operating margins. I admire people who try it. Most don’t last for just a short time and now with online sales it’s just crazy.
Yeah, I thought the shop I worked in was doing great, until the owner dissappeared and it turned out he was selling cocaine out of the backdoor without any of us knowing, he just moved guitars around from time to time to make it look like he was selling...
@@Whydoyoureadme that’s crazy!
@@pmscalisi Yeah... He also borrowed around 200K from friends and family, with the pretense to expand the business, but he just took the money and fled the country before being caught by the police for selling drugs, he also left his wife and 14 year old boy behind...
@@DARTHMOBIUS how many guitars have you sent back because they were shit? I’ve sent back dozens. Sick of it.
I like to play mine first but that’s getting pretty hard to find because of 21st Century BS
Excellent video! Thank you for a frank and detailed analysis of the retail guitar sales industry. I have renewed respect for my (sadly) former corner guitar shop. Your comment on amp repairs was very entertaining and pretty accurate. I am an 'old, seasoned guy', who mostly repairs tube amps. Not so much the knowledge of electronics, but experience and tools, but mostly just that repairs on point-to-point wired amps are much more satisfying - virtually 100% success rate if you know your stuff.
Im a retired disabled marine sergeant that was injured on my last deployment and I have tried to start a business out of either used or new guitars either one because there's nowhere in the job place for somebody in my condition and I definitely can't sit around without an income steadily coming in and this has all led to me trying and wanting to open up a new or used or combined shop around my area every shop has went out of business within a 40 to 50 mile radius the closest guitar center or anything of that nature is over two and a half hours away I believe I live in the perfect location but the inventory is my problem
Older fella here..I hear yah my friend had a fender dealership years ago...eventually had to give up that part...Now he really survives on lessons and recitals he has sponsored in little Carnegie hall...strings sundries help..he has a lot of vocal guitar etc lessons....we are in STATEN island ny which has a crowded population too...Happy u got to experience yr dream a bit anyway ...it’s a tough business..a lot people are so unreasonable u know
Jeremy this really numbs me out. My wife’s family is from Fort Valley Va. I so bad wanted to have you set my guitar up. Man that numbs me out. I love your channel and you seem like a really honest guy who just loves life and music.
Thanks for posting. It seems brick and mortar shops are a personal indulgence these days. And peoples dreams were probably wiped out in 2020. I’ve become friendly with some pretty well established shops over the years and try to support any independent shop whenever I can. It seems what sets apart the successful and non successful is: having a internet presence (reverb), having excellent repair and service, creating a community and having people who work there create a good vibe. There’s something to be said about a shop that makes players feel they’re part of something. Good luck in your future endeavors!
Hi, Jeremy
I really enjoyed that so much and learned a great deal!❤️
You have a very interesting approach to your channel. Down the center..... and honest.
Cheers for this video. I would love to try and own a guitar shop in the future but there are a lot of factors to take into consideration which I never thought of. I think this video will be helpful for anyone who is considering owning a guitar shop.
Nice post dude! Thanks for sharing your knowledge and experience. I find that there simply aren’t enough young people interested and good guitars have gotten so good that there is so little margins to make money.
When the landlord decided to rent the space to you, I don't see how it is your fault that it was "too loud". They knew it was going to be a guitar store and guitar stores are historically loud places and not study halls. Did they not inform the other tenants?
I really enjoy all your guitar stories!
Subscribed. One thing to add is the band instrument aspect: sales, rental, repair etc. This is a great market, get a relationship going with the local band directors etc. Thanks for uploading this video, nice playing in the video, btw.
Very informative. Thanks for sharing your knowledge. I like your style!
Hope you and yours are well and staying warm. Hope you still have power. Thanks
No power. Very cold. We hit the road back to VA today.
I appreciate your honesty.
Awesome insight and information.
I have a Blue Ridge BR-160. lefthanded used acoustic. Blue Ridge was popular in Oklahoma City Ok @ Lone Wolf guitars ( local shop )about 12 years ago but the brand fell out of favor. A video on Blue Ridge would be fun.Enjoy your time with the family. Love you brother. You remind me of my son in law who lives in York Town Va.😎🥞🥞🥞
Tremendous stuff! I'll feel even better about checking out the used acoustics next time I visit my local independent dealer.
Probably the best guitar shop in London (chandlers) closed a bout 2 years ago, such a blow- tragic for the owner who had great staff, amazing
selection in stock and this was pre Covid, such a shortage of stores and guitar tech services now. Great video Jeremy.
Rod in London 2021
My hometown guitar shop does all the things you mentioned.they are also a Martin dealer with their own custom shops.and they are super nice.it’s such a small town that it’s crazy we have it but I’m glad we do.thanks for the cool vid bud😊
My heart goes out to all small businesses at the moment. Pandemic aside it seems everything is stacked against them.
Depends on who you are
Just the Democrats are stacked against them. They'd rather bail out the rich and do absolutely nothing for the small businesses.
@Andrew Bowen
You're absolutely CORRECT... Except you spelled PLANdemic incorrectly.
@@whitelivesmatter6864 don't be fooled.
Both "parties" are but opposite wings on the same evil bird.
@@slicksnewonenow No.. we have one party that supports guns , God and freedom and the other that supports anti christ pride month. Don't be fooled. Only the anti christ supports abomination.
I had a small shop for awhile. No days off, no vacations, open/close. Loved it. Online sales competition took a big bite, then a recession. I'd love to do it again if I hit the lottery.
Fair winds and following seas to all.
A local shop has just reopened and focus more on used guitars. I really like, it's fun to see some rare models and vintage stuff. I would never buy a guitar online without trying it first. It's also great to have a shop for strings and picks et.c. so you don't need to wait for shipping. Support your local store :)
Thank you Jeremy, your video is very helpful for us.💥💥💥⚡️🎸
If you are lucky enough to have a local guitar shop , go there tomorrow and buy some strings look around have a conversation with the owner or whoever is working. Imagine how hard it must be for most of these shops right now
🌟
Great video! Thanks for sharing. A good amount of guitars are now sold for MSRP.
Man, I loved going into the Guitar and Amp Center in Hburg as a student. Just the history in that back room- harp guitars and some of the earliest electric guitars... I’d always buy my strings there as a “ticket price “.
New subscriber today. Very interesting video and I learned a lot. I’m a guitar collector and would love to have a shop. It’s a bucket list item anyways. Keep it up.
I know a lot of people think the days of brick and mortar stores are over. I tend to disagree with that idea. Once all this virus and lockdown stuff has pasted people are going to want to get out and shop. There is nothing like walking into a cool guitar shop and experiencing that feeling.
Yes, can't get service over the Internet .
I'm mainly sick of the lack of service the internet provides. Nothing can replace a live person standing in front of you to help solve problems.
Great information - thank you!
Thanks for sharing this story. It's important to do so. I was a shopkeeper myself and had a good run. If I do it again I'll only do it better having learned from a lot of mistakes. One can take a business class or one can just dive right in and do it. I have little patience for school so..... And a word for customers who want that good deal. Be kind, be grateful. Don't find that flaw on the Rolls Royce and harp on that. Just keep it simple, be honest, if you love the instrument say so and say "this is what I can pay for it." Myself and people I worked for were always way more receptive to that vibe than the bash and insult vibe. The kind person always got a better deal in my shop. The rude person, I was and still am always happy let them leave empty handed and even open the door for them on the way out.
I have owned a "brick & morter" guitar shop for the last 30 years...I always thought that the success of of internet sales in this business was built on "showrooming" your local store. It will be interesting to see where we are at in a post Covid world as everyone has been forced to move to the internet and manufactures are trying to sell direct... and the public finds out how many "brick & morter" stores aren't coming back.
Private online sales killed a couple stores in my town 20 years ago. Craigslist and the like. Cut out the middleman, better deal for both seller and buyer. Still, though, if you go to larger cities, you can still enjoy visiting a store that isn't full of plywood, a place professionals go, and look and dream.
We need music shops, I would never buy a guitar, I hadn’t played or held, guitars are unique, one guitar doesn’t feel good and then you try the same guitar different color, and that one feels good, sounds good to your ear. Music stores are the only stores I enjoy going to!
I'll take brick and mortar for $200 Alex. Ordered a cpl cheapos online, garbage. I need to play it, look at the neck and action, because finding someone to set it up right is iffy too these days it seems.
Great advice!
I would love to own a music store!
You are right ,location is everything!!!
Thanks
Small Shops like this are Obsolete...remember the Corner Store, Drug Store, or Hardware Store that a Guy and a few hired employees, and his Wife ran?
Thanks Jeremy ⚓️
This was a really good video about a not so good situation. It sucks that the big companies have such a big buy in. I have worked for a few music stores in my area, a big box that has been gone for a long time (rip Mars) and a local store named Drome Sound which was a monster store years ago with a couple locations but time hasn't been kind to them as of late. Since 2000 I have been working for a website called Chris Guitars which is ran by just the owner, myself and a luthier (who used to run Valley Arts), and it is only used and has been thriving however I am convinced that it is because there is no store front. I really appreciate this video as I am starting a company with another Luthier but we aren't thinking of having a brick and mortar.
A friend of mine closed because of unethical bullshit from Taylor. He was an official dealer with minimum stocking levels required by the agreement. A customer kept coming back playing a high end Taylor. One day the guy came initially a brand new Taylor. It was the same model the guy had been playing. Taylor sold it to him for less than my friend, the “official” dealer paid. He said fuck it and took a job in a shipyard.
I'm very fortunate to have a good local shop that is growing. It's doing a good job of catering to players, families, and the local community. But, it's also the only one remaining, when there were about 5 in the area 20 years ago.
I'm sorry your guitar shop didn't work out. I have a friend in Newberry, S.C. who is in a similar situation. I worry about him closing because he has the only guitar shop in town. I will have to travel a good distance to buy strings, etc. if he closes. We have an opera house in the area, and I think it has helped him stay in business. I really wish I could help him out, but buying strings occasionally won't help much. He sells new and used guitars, but they are usually cheap instruments for beginners. Nothing to write home about. The pandemic has hit his business hard. I think he has managed to stay in business because he has a large base of beginning students who study under him, but the pandemic has affected that as well, I'm sure. I hope he is able to hang in there, and I am glad you are able to reach out and help guitarists through your videos.
First time I’ve seen this guy.
Great stuff.
Didn't know you were the owner of bayoumusicexchange. I liked the space. Enjoying the content from Lafayette, LA.
The mom and pop stores have been the lifeblood of the guitar playing experience. In many towns there is no Guitar Center, it's just these stores. Gibson, Fender and Martin (and others) have made it tougher and tougher for these shops to survive. Their floorplans are outrageous. They force dealers to buy cheap imports and poor quality starter kits to get access to the quality instruments players crave. Fender has started selling direct to the public, further cutting the legs out from under the small shops. As you mentioned, for many shops lessons pay the bills. Instrument sales are the gravy that make it possible to grow. They create and educate the players of tomorrow. Without these shops guitar players can easily look to other instruments or activities.
With all of that said, used guitars can be a loaded proposition. People looking to sell or trade to move up to a better guitar are often taken advantage of on the transaction. You have to be educated going in to protect your original cash outlay so you can afford to move up to that dream guitar. Your videos help a lot to gain that much needed knowledge. Keep up the good work because the information you provide is very valuable.
I bought a used baby Collings from them, it's one of my favorite guitars.
The best post I have ever read on the 'art' or retail. I was a clothing retailer here in the uk where space of any kind is always at a premium full stop!
One thing I like about the American attitude is that you as a nation all seem to accept that profit is necessary to make things work ( even your customers ) whereas in the uk it's almost unmentionable ha ha ha!
As old retired rock n roller I wish you every success should you ever venture back into music retail -
Best wishes from the UK!
Wrong. UK customers are fine with businesses making a profit they just don't like being ripped off. The biggest problem is that the UK public doesn't understand that the 'fat cat' businesses and the 'mom and pop' small retailers are totally different entities.
Hi Jeremy. Your grasp of marketing is a pleasure to sit through. Why is it, with eBay, Reverb etc., still possible for guitar stores to buy used gear at 40/50%? Surely the market shrinks by the day as people realise they can skip the dealers. I can understand cheap stuff being sold to stores but as soon as somebody moves beyond this they would know, wouldn’t they, that they are ‘giving’ their stuff away? Couple of questions: Do the stores make higher margins on accessories than instruments? What about amps and pedals? Also, do you know what margins (%) return the most: USA made or imported guitars. Great video, great channel. I may have asked before but please could you look at how much the quality of woods differ in acoustics? For example, the new Inspired by Epiphone J200 solid versus the Gibson J200. Cheers from the UK.
Dude, owning a small brick and mortar business is brutal.
I had a weight loss and fitness studio for a year but had to close down. Keep the hustle up!
You customer base is limited to your geographic area. How many people in drivable distance play guitar, want a guitar am=nd want a "unique" used guitar? And how often will they be doing that? You need to be in an urban area to have a chance at success.
Factory tours are a good draw to guitar shops; It is good to hear directly from the factory staff. I also think offering some sort of deal on expendables -- guitar strings, humidity packets for example -- to get online orders or store visits on a regular basis would be additive.
Great advice. Good video.
Sir thanks for sharing your story.
Open another, you've got the IT factor brother, rock on 💥
I’d love to see nights where people come in and share their new songs meet other musicians sit in a circle. It would be epic.
It happens in small towns all over the US, including mine, though the part about sharing songs can get tricky because you worry about losing ownership of your original music. Here it is mostly about playing old standards, just for the fun of making music.
Here is some of what I think you missed, according to your video. You mentioned having difficulty putting fresh inventory on the hook, a major concern.
I buy and sell guitars and amps, some times as a full time job. I have a little shop and a little online presence.
I maintain inventory by taking any trade and am willing to finance all sales.
I also will go to big box retail stores and make offers on every used piece they have, all of it. If they agree to the offer, I move it out of the building almost immediately. The stores love that all their trades get completed that way, floor plan is completed and they can focus on selling new gear.
A lot of the gear I pick up used is something I throw in on a deal as a kicker protecting a certain price point and profit. It also speeds up the process of turning my money over.
I make sure my investment is mostly covered thru trade or down payment and don't worry that much about collecting because I don't let anybody get into me that much. Plus, they won't get a repeat and know it. The locals really appreciate my willingness to stick my neck out. Plus, I charge a hefty interest rate, just like a credit card. They are glad because sometimes it's me or nothing, especially if they need info. Been to Guitar Center or Sam Ashe lately?
Talk about lack of info? Sheesh!
But mostly, I sell guitar playing as compared to just gear. I give free lessons to all customers as much as possible and encourage players to come in and bang on some gear I own they may never own. I sell the value of dealing with my over 50 years of being a pro player. I give free seminars on how to get gigs. I explain how PA systems work and will mix a show for those I feel are trying hard to get some traction. I am a source that builds its own value. The guy in the vid seems to do nothing to differentiate himself from a "textbook" retailer. You build no personal value from what You say in the vid. You need some cool, funk and soul. Not just price points. Maybe you do have some soul,, what do I know? You also come across as a know it all. I am completely sure you know little or nothing about playing for a living. Very little young people do. They can't because there is no venue and there has been very little for a solid generation. This is a sad thing and does not lend to developing craft. Maybe you should help promote venue.
Martin dealer? I can buy numerous pieces of whatever for the average top end single investment of a Martin. I have owned many imports for a few hundred bucks that compare with expensive Martin's. Get hip. Sell playing, not status.
Let your competition go broke trying to sell gold.
This is the problem with younger players, they don't have perspective on what older, vintage stuff really is and they get caught up in the vintage myth. Plus, the new name brand stuff is so expensive. Yes, there are plenty of people that can easily afford the gold pieces. But, I find you have to do an inordinate am out of ass-kissing for that guy.
When I sell an expensive piece, I let it go online, even if I have to take less. I would rather spend the time being an expert online lister, than have to deal with an equipment snob, especially the ones that can't play.
In my store I have Solid State 40 year old Peavey combos right next to Fender Twin re-issues and dare players to prove to me that the Fender is 5 times better sounding than the the whatever I have next to it. The Fender costs 5 times as much, but does it sound 5 times better? Hell No! Especially in the clean side tones. A lot of younger people don't know that in the 80's most all of the top country pickers played Peavey's.
Granted, like most experienced players, I can get a pro tone out of anything so my "demo" has some slick to it but the people that come to me appreciate seeing the difference, especially the parents! That way I build value as a source and don't have to give everything away.
Come on man, sell the sizzle, not the steak.
WOW...very impressive!!!....nice job!!
Every now and again I come across posts like this and I strongly advise readers to do TWO things immediately. #1. Click on the poster's RUclips Channel.......as I just did. Nothing there. Less than Nothing. Not the posters Name, Store Name, Nothing. 🕵🏻♂️ #2. You're willing to "FINANCE ALL SALES". We don't even need to go any further...... In Real business, you wouldn't last 15 minutes. ⏰ ..... Feel free to post your name and the name and location of your business, online or off, and I'll be in tomorrow to buy a bass.......which, as stated, you'll finance. 🐓
Having been a business owner for fifteen years, I completely understand. I left the business and still miss it.
Im sorry that your shop didnt work out. I love guitars. I have several charvel and jacksons stratheads and a few 1970s ibanez's. I dont any teles so if u have any i would be interested. Good luck with future indevours.
One of my best friends is the co-owner of a small guitar shop. They've been in business since late 2001. At this point, most of their inventory is used gear on consignment. They also now sell vinyl albums, which has brought in a lot of foot traffic. The main things that keep them going are lessons and repairs. Fortunately, they have good teachers, and my friend is a very good repairman. He has taken on repair jobs that others wouldn't touch and successfully completed them. Some of those jobs took awhile (months, in one case) and stressed him out, but he got them done.
I started a used guitar booth in a consignment shop a little over a year ago. Acoustic mostly. I really identify with the hunt for replacement for the guitar that’s sold. It was doing awesome till it got shut down for the BS FLU. Now it’s harder getting and selling. All around the public isn’t ready to part with their cash and the full time job, time with family, time is just too few hours in the day.
I’m always on the edge. I think time management is my hardest hurdle.
I've lived in New Orleans for almost a decade and used to always be in covington. sad I never heard about your shop
I can only speak for myself but if I know of a shop that carries Beatles guitars - Hofner Violin Bass, Epiphone Casino, Rickenbacker Bass and Guitar- it's like a magnet to me.
Just now finding this video but man this hits home. Worked for a small mom & pop shop here in the midwest for about 5 years. Had PRS, Fender, Gibson, etc. Gibson & Fender had 6-figure annual buy-in minimums and they'd force all the cheap crap down your throat so we had dreams of Fender American Vintage RI, Les Paul Standards etc., and ended up with a bunch of cheap Epiphones (not the cool stuff they offered at the time) and a bunch of Squires and starter packs (this was before the Squiers got really good). That shop has since become unable to sustain carrying Gibsons, and carries Fenders/Guilds etc. and PRS but with supply chain now - and the big manufacturers favoring the big chains and large private retailers - I think this shop will be out of biz in a year or two.
Another extension of the performance space idea, would be to create a stage space where you have a built-in Live Stream capacity? You could have a regular/semi regular, curated slot, and revenue stream as a rental space for bands that want to put out a live performance.
You could build out the space for just a Stage first, but designed with Live Stream in mind.
Guitar/Music Store as community is really the ticket! I had a guitar store where I used to hang...and ended up buying/trading many guitars.
About 5 years ago, the owner of a local shop 'retired' and closed what was their second location.
I'd gone there since '85 at the first place then a regular. It was great, B Street Music, San Mateo. Reliable repair guy there and new and used stuff. Bought a couple guitars and amps, etc.
When my Wife and i went to say goodbye, he looked up my history and smiled. He got out at the right time.
Thing is, my '95 Crafted In America Peavey Predator DX needs a 5 way switch.
I can't trust anyone now.
Excellent presentation.
what about Music Instrument Rental? I didn't see any comments about that, there was a place that did that around where I live, now Idk who would need that now really anything that GC does, a small business could do. I liked these suggestions and this video. very insightful. I think we all kind of knew that it was expensive having a guitar shop and the overhead is just insane. I'm glad you made this video to explain what its all about. thank you.
Totally agree, small businesses are being crushed :(
Guitars are unlike most other appliances. Nobody "tests out" a toaster oven. . .10 different Gibson Les Pauls all are the same quality, but each one has an individual weight and fretboad "feel". . .Small shops can't afford a big selection for people to "test drive" .. . .People post covid, don't want to shop malls and stores. . .Fewer people are "browsing" guitar stores.. . Guitar stores all stock "new China/Indonesia . . . or 10 year old name brands. . . .Where do I go to shop for 1970's rickenbackers ? . . .only online . . . . . The only stores that survive have an Online Catalog. . . . .Nobody wants to pay more than $500 for an online guitar you can't test play before you buy it. . . . .There already is a surplus of guitars for sale in the world. . . .
Thanks for the insight of being a shopowner with lots of adjacent work-initiatives to improve and last the relationship with the shop....
Education was mentioned aswell..... overhere (Holland), youngsters and later on the senior quotem are giving twice a year concerts by a campfire..... is excellent for reason of bonding with the shop, and displaying the newly obtained skills.
It's a "proud making event" wich everone looks forward to.
Just some thoughts, greetz from Holland 🍀🇳🇱
I live in north county SD. The only shop other than GC or sam ash if you want to drive to the other side of the county, but as far as north county goes, there's only one shop i can think of that has modern metal style guitars. I wont name it, but you're literally not aloud to play them until you buy it. Thats just crazy to me. I want to support local business and refuse to buy anything but strings from GC...if i buy new i buy direct from the manufacturer and anything thats not a new guitar i order from sweetwater. Does that make me a dick?
Sweetwater is the only company iv ever felt actually cares about the satisfaction of they're costomer.
Nice guy. Love the red beard. Very cool. 😀
This was very informative.
Thanks, Toney.
What I've learned from the music business over the years is, unless you're talented and gifted enough to be a big time star, you will basically financially struggle and mostly lose money. MOST professional musicians I know are basically poor. It really sucks.....
The invention of the light bulb didn't happen overnight. If there is a will then there is a way. Awesome post!
@Grimple Gromble Nothing stays the same. Part of the journey i am guessing. I still own a guitar and my d.j. system i had to give away. My grandfather bought a station wagon with 2 options, heat or a record player. He liked his music, and my grandmother was bullsh*t.. Now i download music. Crazy...!!
I just checked. Currently, Reverb has 65,326 acoustics guitars for sale. Every brand imaginable, new, used, vintage... Local guitar stores in Detroit charge top dollar for new, don't negotiate much on used (rarely have anything with negotiating over), and pay 50% of what I could get selling my trade in one Reverb. I buy my picks and strings from Amazon.
The store here in my small town stays open by selling 1) beginner level guitars and items, 2) guitar lessons, and 3) pro grade guitars and amps to musicians online.
I just came across your channel and have subscribed…great content. BTW I live in Madisonville so I recognize where you store was, but don’t think I ever heard of it, when was it there? And did you find anywhere around here you would suggest to check for used acoustics? Thanks!
I had a friend many years back that opened a Mom & Pop guitar/music store. He only lasted a couple of years. He told me the big guitar companies were "brutal" to small guitar shops. Even if you could come up with the doe, rey, me $ to stock some of they're inventory of products. They were unrelenting, always checking his monthly sales records and questioning his monthly out put. He tried working a deal out with the local high school, to supply them with band instrument, but that turned into a major head ache with in the first few months of negotiations. I want to work in one, never own one !!
I got my first charter fishing boat/business in '91. I survived many hurricanes, the biggest oil spill in history (BP) and even getting older and the government cracking down. I finally sold everything and took a job running a ferry boat to the high end island, Sunset Key off of Key West. We never saw the flu coming. It killed most of the businesses. Thank God I got out before hand. It was all luck. Now I just play for a living. Life is mostly hard work, but you need a certain amount of luck.
My local shop does consignment pretty cool - if you want to cash out, they take 20%. If you want to leave it in and use it for store credit, they give you 100% to spend. I was able to pick up my Headrush Pedalboard from the shop this way by leaving it in and adding some extra cash in after selling a guitar there on consignment, plus they gave me a price competitive package deal on the board, speaker and case all together that matched a Sweetwater special package price at the time.
That 100% store credit option is awesome!
You hit everything on the mark
The bottom line is that the internet has changed sales. It not just the musical world that's affected.
The modern way is to sell guitars and cannabis. Half music/half head shop.