Yes. A friend asked me for a business opinion on opening a record/stereo shop. The core of my response was; you can't pay rent and survive. If you can finance buying the real estate, then you have a better chance.
These type of little shops need a fast selling small items to keep people coming in and then they need those people to buy the bigger items. A buddy of mine has his own watch repair/custom jewelry shop and the things that keeps the doors open is selling and installing watch batteries. He charges around $7 to change a battery.....the cost of the battery is about $.50 to 80 cents. He is tucked away in an old strip mall and even then he replaces 7- 10 an hour on slow days.
A guy or gal that tries to open a record shop and only sells records without selling cleaning kits and fluid etc wont last long.