Information on Owning a Music Instrument Store

Music instrument stores typically offer pianos and keyboards as well as other instruments.

With services and products applicable to schools, churches, individuals and many businesses, music instrument stores are a common fixture in the local business community. Music instrument stores can combine retail, education, rental and repair income streams to offer a stable business opportunity.

Rental Income

Rent trumpets for local school bands.

School band musical instrument rentals can offer a substantial income opportunity and lead to additional income through the sale of sheet music, reeds, mouthpieces, cleaning supplies and insurance.

Education

Guitar lessons are a popular music store service.

Music instrument stores that offer music lessons and educational opportunities can boost their business profile and generate additional income from sales.

Inventory Financing

Stocking pianos can be expensive.

Inventory financing from manufacturers, also referred to as "floorplanning," can allow music store owners to offset the initial cost of stocking a new store.

Repair

Offering musical instrument repair services can produce additional income and bring new traffic to a music store. A store with manufacturer repair certifications can draw additional income opportunities.

Marketing

In addition to traditional business marketing methods, stores can sponsor local music venues, school bands or events to boost community exposure.

References

• BPlans: Musical Instrument Store Business Plan