Used to have a record store in Auckland in the 90’s
Step 1: find a good accountant.
Step 1: there is no step 2, that’s now the accountants job.
Really though, we had no business plan, I’m not a business guy so that wasn’t even a starter. It's really not that hard. Jus boils down to margins. If you can source stuff low and sell it high, you’re good. That simple. Of course, don’t hire anyone. Financial suicide. It’s all you, sitting there, day after day, bored out of your brains. Nobody’s come in for 2 whole days now haha.
In Gisborne? The market for lp's would be suicidally small. Non starter. You’d be better off going with 70% band shirts. They were our big earner.
Listening post was a real puzzler for me. Didn’t have one so would get dickheads bringing a stack of lp’s up, asking if they can hear them, then they'd proceed to commandeer the shop speakers for 30 minutes…then leave without buying anything. One guy did it for 2 hours! Soon gave up on that malarkie.
Start by selling on discogs. That’s what I do now. About 4,000 records on there. In hindsight, my store never even had enough stuff right from the start. At least 10,000 would be a minimum. And a supply source of cheapos. Nothing worse than revisiting a store and its exactly the same as 2 weeks ago.
Used stuff is your staple. New stuff these days is an exorbitant luxury that will look good in store but you will not make any profit off. If it's US$10 wholesale, then by the time it gets to your shelf you'll need to pruce it at NZ$30+ just to make a couple of bucks off it. If it even sells at all. And by the way, you will not even earn a living wage from this. You would seriously make more $$ off the dole. Any money you make goes to securing more stuff. I can send you some links to wholesale sources if you are insane enough to still want to do this. Yet, I am here, drawn to this thread, reading about it, and daydreaming about doing it all again haha
:yes:
