How to Open a Musical Instrument Store

Music stores having high profiles in the community can offer a valuable service to students, parents, and those wanting access to quality music supplies. Opening a musical instrument store requires knowledge of local city ordinances, neighborhoods most likely to attract customers, and the music industry. Plan thoroughly prior to opening day.

Things You'll Need

• City business license
• Operating permit
• 1099 forms for subcontracting teachers (optional)
• Accounting software
• Interior design
• Signage
• Renovation and layout plan
• Inventory

Instructions

Location

1. Select a storefront that has high foot traffic and available parking. It may be next to an established, complementary business like a popular bookstore, theater or dance studio. Obtain necessary business permits from the city planner and set a budget for rent and renovation.

2. Hire a sign company or mural painter to design the outside. Check city ordinances and merchant associations for limits on outdoor designs and signs.

3. Set a time frame to complete the renovation prior to opening. Keep a sign posted on the door to show progress and remind passersby of the opening date.

Inventory

1. Purchase the latest "Cost of Doing Business" report from NAMM, the International Music Products Association. Contact leading manufacturers for product research, pricing, and possible discounts.

2. Hire an interior designer to divide the store into sections and subsections based on instruments, manufacturers, or new and used items. Invite residents to sell instruments on consignment.

3. Stock limited inventory to keep cash flow moving freely. Know the order time frames from your suppliers. Offer seasonal items for sale, like Christmas sheet music in November and wedding instrumental tracks in late spring.

Marketing

1. Hire an interior designer to either assist in laying out the store or to create a compelling display at the store entrance. Utilize a "hands-on" approach for customers to try certain instruments. Invite a local musician to do a free one-hour concert at the store during high-traffic times, or sponsor a concert in a local park.

2. Enlist volunteers to assist with music programs and bands at local schools. Provide a community service and become known as an all-around music resource.

3. Build a website featuring printable coupons, local concert schedules, and in-store sales. Upload pictures and news of school bands and local performance bands.

4. Join a merchant association or start one if it does not exist. Attend the meetings and get to know other store owners and their concerns for the area. Enroll in music associations in local states or for certain genres, such as the International Bluegrass Music Association.

Tips & Warnings

• Plan for all contingencies before opening.

• Sell accessories near the cash register.

• Develop goodwill with customers and musicians.

• Do not stockpile inventory.

• Do not anticipate opening sooner than expected.

• Pay attention to all local permits and ordinances.

References

• "NAMM: 2009 Cost of Doing Business"
• International Bluegrass Music Association

Resources

• William Gayle and Cook Music Library Listing of Resources Services