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Want to open a guitar store
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Richard Jernigan
Posts: 3433
Joined: Jan. 20 2004
From: Austin, Texas USA
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RE: Want to open a guitar store (in reply to sig)
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Running your own business: A friend is a master electrician. He set up an electrical contracting business and ran it successfully for a few years. Then he closed it down and went back to work as an electrician. He said, "One of the good things about running your own business is you can choose your working hours--any 18 hours out of the day that you like best." I had my own business for a while, consulting in the defense industry. I teamed up with a couple of friends for infrastructure like security clearances, rates audited by the Defense Contract Auditing Service, and so on, but our businesses were in effect completely separate. When I quit my job with a fair sized company I doubled my take home pay and cut my working hours in half. But my chief reason for leaving was the toxic environment at the company. I had an established reputation and customer base. After several years I shut down the consulting business and became part of an employee owned small company in the defense business. I retained my small share in the company after I retired. It constitutes about 10% of my net worth, and contributes about 15% of my annual income. One of my teachers, a successful musician said, "I think you should become a musician only if you can't stand to be anything else." I think similar advice applies to most business owning ventures. For the right person, it's the only way to go. For the wrong person, it's a wrong move. RNJ
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Date Mar. 5 2015 19:33:55
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mt1007
Posts: 162
Joined: Jan. 19 2011
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RE: Want to open a guitar store (in reply to mt1007)
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Foro members, I want to thank and appreciate your feedback. There is some very good sound advice that has been posted; I will take all of it into account. Andy: I’m Located in Los Angeles. I would love to sell/represent guitars made in the Americas. My goal is to offer good guitars for players, so no discrimination against guitars from different parts of the world. Ruphus: I agree with you that we have some fantastic makers on this forum. I’ve been watching their posts, listening to their guitars etc… Once I get up and running, I would like to get in touch with foro builders. Sig: The plan is in the works along with risk assessment and exit strategy should things not pan out. The plan is the foundation for this project; I definitely would not like to fly blind. I agree with you on a demo period. Trade-in and consignments would work for me. As for luthier services I think that’s where I can stand apart from many others. I have access to some great luthiers out here on the west coast. I want my shop to be the place you get your hot rod guitar hahaha. I’ve bought so many guitars which I then had to take to a luthier to get setup, refinished, re-fretted, etc. I can go on about this subject all day. The thing is I want my customers to not have to go through that at all. I want them to receive a guitar setup exactly how they want. Tele: You will have to tell me if you like my site once it’s up and running. That will help big time. I want the end user experience to be easy and smooth. As for payment, what do you have in mind? I was thinking PayPal, Visa, bank wires. Ricardo: I agree with you regarding the financial backing. Hopefully I can break that stigma that some not so nice and dishonest peeps have in this industry. Luckily for me I have a full time job and many guitars I own that I need to sell. I just bought a 68 Conde and don’t have a desire to play any of my other great guitars. Time to thin the herd, though it will be hard to part with them. Richard: Love the tip! Couldn’t agree more! I love Flamenco, the guitar, learning it, etc… I work in the I.T. industry and I’m thankful for everything it’s done for me. I feel I’m ready for a change in my life. I got other ventures to explore but one I have to do is be involved in music, especially Flamenco and the guitar. The burning desire to not live doing what one is so passionate about, well in a way it’s not living for me. I understand though…. Those dam bills got to be paid hahahaha…. Gracias a todos!
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REPORT THIS POST AS INAPPROPRIATE |
Date Mar. 5 2015 20:28:12
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Ruphus
Posts: 3782
Joined: Nov. 18 2010
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RE: Want to open a guitar store (in reply to mt1007)
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Tele, You are right on about Paypal. It is not just those 3,5%, but they also handle the currency transfer at manipulated rates to the disadvantage of the customer. Twice even, to the disadvantage of both the seller as well as to the disadvantage of the buyer. Further, if you leave your PP account idle for too long they will block access and embezzle the money. (Me had to engage a lawyer to get my money back, with head aches and lawyer fees on me.) I only wished the internet community would dismiss this company until they close down, and mabye a decent one to take over that business. (There is still such a huge profit in that business if conducted decently, but todays pampered moguls just can´t get enough with milking off the world.) Miguel, Your experience in that price range matches mine as well, regarding factory production. Whereas makers like ours here seem to deliver with focus on practical balance as you mention, yet even with aesthetical thrills, at least to my eye. For, mostly their instruments are looking so beautiful, even so much better than those luxury-priced makes by lofty brands and their use of specially good looking woods and perfect finishes. FWIW, Ruphus
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REPORT THIS POST AS INAPPROPRIATE |
Date Mar. 6 2015 10:55:44
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