how do you start a record store?

Question

I want to start a record store, but i dont know here to start, who should i talk to?

Answer 1

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.

Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

* Start and Run a Profitable Retail Business by Jim Dion, Ted Topping
* Retail Business Kit for Dummies by Rick Segel
* Specialty Shop Retailing: How to Run Your Own Store Revised by Carol L. Schroeder
* So You Want To Own The Store: Secrets to Running a Successful Retail Operation by Mort Brown
* Goldmine Record Album Price Guide by Tim Neely
* The Industry Yellow Pages: The Official Radio, Retail and Distribution Music Directory. A Directory, listing over 2000 Radio Stations, 660+ Record Stores ... World-Wide? (On CD-ROM. PC & Mac compatible) by Platinum Millennium

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 2

what makes a record store is it's inventory. find a distributor. If you're looking to operate a specialty store like oldies or vinyl then look around for distributors who sell that stuff and hook up. if you're looking for more modern cd's and such, vendors and distributors are key. if you want to deal in used goods then those will come in naturally, just make sure you have enough in the drawer to cover the pay outs.

Answer 3

don't bother, its a dying industry. record shops will make you lose all your money! but if you want to learn the lesson the hard way, first go check out your states webpages for licensing and the chamber of commerce first to get the basic info to starting up the business and how to get your tax ID number, etc...

Answer 4

I suggest you find a copy of "Starting and managing a small retail music store, http://www.amazon.com/exec/obidos/ASIN/B0006CI51S/ref=nosim/powerhomebizguid by Ray S Erlandson It is out of print at Amazon but it may give you ideas on how to start your music store

Starting a small business takes a lot of courage. But, as they say, courage does not pay the bills. To be successful – to stay in business – you need more than courage. You need a combination of hard work, skill, perseverance, and lots of luck.

Some things you need to consider:
- "How can I support my family while I build up by business?"
- "What are my abilities?"
- "Is there a market for the product or service I have chosen?"
- "How long will it take this business to reach the financial goal I have?"

You may want to read the article "How to Start a New Business Successfully" http://www.powerhomebiz.com/vol51/launch.htm , which lists six steps to launch a new business successfully:

1. Provide a benefit.
2. Determine the fit with your market.
3. Right timing is everything
4. Be ready to support your business
5. Develop a blueprint for success
6. Market, market, market

To give you ideas on what exactly do you need to start your own business, here are ten things you need to know before launching your own business “10 Things You Need to Know When Starting Your Own Home Business” http://www.powerhomebiz.com/052006/startingbiz.htm .

Here are articles on how to start a retail store that you may want to read and get ideas from:

Retail Startup Center http://www.entrepreneur.com/howto/retail/0,7167,,00.html
Small Store Retailing http://retailindustry.about.com/od/seg_smallstores/
Business Plan for Retailers http://www.cbsc.org/servlet/ContentServer?pagename=CBSC_SK/display&c=GuideFactSheet&cid=1083346948467&lang=en
Store Location http://www.cbsc.org/servlet/ContentServer?pagename=CBSC_SK/display&c=GuideFactSheet&cid=1102940219101&lang=en
Music Store Business Plan http://planmagic.com/business_plan/retail/music_store_business_plan.html (not a free business plan, but something you may want to consider purchasing)

Here are some publications, websites and associations related to the music retailing industry:

Music Trades http://www.musictrades.com/
NAMM :: The International Music Products Association http://www.namm.com/
Keyboard Mag http://www.keyboardmag.com
Mix Magazine http://www.mixonline.com/
Recording Magazine http://www.recordingmag.com/

You may also want to read these books on retailing:

- Success in Store: How to Start or Buy a Retail Business, Enjoy Running It and Make Money by Geoffrey Heard and Gordon Woolf
- 1001 Ideas to Create Retail Excitement, Revised Edition (2003) by Edgar A. Falk
- Start and Run a Profitable Retail Business (Start & Run a) by Jim Dion and Ted Topping
- Specialty Shop Retailing: How to Run Your Own Store (National Retail Federation Series) by Carol L. Schroeder

If you need guidance on how to start your business, there are several places where you may be able to find a mentor:

Government Mentoring Programs such as SBDCs, which works with community colleges and local business development councils to offer mentoring programs http://www.sba.gov/sbdc/sbdcnear.html ; or the Women's Network for Entrepreneurial Training http://www.sba.gov/womeninbusiness/wnet_roundtables.html
Volunteer programs such as SCORE http://www.score.org which is composed of mostly retired executives and entrepreneurs
Formal mentoring programs such as Athena Foundation http://www.athenafoundation.org/programs/globallinks.html , Helzberg Entrepreneurial Mentoring Program http://www.helzbergmentoring.org/HEMP/ , or The Aspen Institute MicroMentor Program http://www.micromentor.org
Professional organizations such as the National Women’s Business Council http://www.nwbc.gov/Mentoring/programs.html
Industry and trade associations
Local business groups, such as the chamber of commerce
Local chapters of business groups

Answer 5

my uncle owned a record store once