Want to open a guitar store

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mt1007

Posts: 162
Joined: Jan. 19 2011

Want to open a guitar store

If this is not the place to post this message please help in directing me.

I want to open up my own online guitar store, dedicated to Flamenco guitars used and new. Being a player, I've gone to so many online sites and brick and mortar stores only to leave bummed out. I've also dealt with numerous dealers; don't want to mention any names as my experiences have not been too positive.

I want my store/dealership to have competitive prices along with great honest service. I want to be able to offer guitars that are meant for players mainly. Handpicked by colleagues or myself for whatever type of sound, setup etc… guitarists are looking for.

I’m looking to start on this project soon.

Honest feedback would be greatly appreciated, please let me know what you guys would like to see or types of services.

Thanks!

REPORT THIS POST AS INAPPROPRIATE | Date Mar. 4 2015 18:00:13

tele

Posts: 1464
Joined: Aug. 17 2012

RE: Want to open a guitar store (in reply to mt1007)

I would like to see a standard rate of profit, for example 500 euros added to a guitar that was purchased for resale for 2000 euros for example.
There certainly seems to be few deals in sites like milanuncios and segundamano and sites like flamencoguitarsforsale use them for buying often.

I think basically it could work even from your home if you have space for the guitars, just make a good site and good shipping and payment service and it should work out just fine, the another thing is marketing and money to buy the guitars.

I think site that's dedicated to flamenco guitars could work, even when most sell classical and flamenco.

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REPORT THIS POST AS INAPPROPRIATE | Date Mar. 4 2015 18:14:04

Ricardo

Posts: 14801
Joined: Dec. 14 2004
From: Washington DC

RE: Want to open a guitar store (in reply to mt1007)

Based on your words I must say I hope you have enough financial back up cuz you won't sell stuff being so nice and honest. I do wish the world worked like that though, where the nice guys get all the business. Once you get a good reputation, things will keep going good but you gotta pay the bills somehow before then.

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REPORT THIS POST AS INAPPROPRIATE | Date Mar. 5 2015 4:31:07

bernd

Posts: 680
Joined: Feb. 15 2004

RE: Want to open a guitar store (in reply to mt1007)

I generally agree with Ricardo, but I see another aspect that could take influence on the stabilty of your project. Don´t think you will sell as much guitars a month as you´d need to have constant success during the first two years. You may be known among the flamenco guitarists and may also have a profound knowledge in guitars. But that doesn´t count if you don´t have knowledge on how to build up a business. This means presence nearly anywhere and continiously. It´s comparable to create and build up a brand. It´s not the guitars you are going to sell but it´s the regular profit you will have to be focus on to generate that keeps the engine running. Hope and honesty just take influence on success but are the worst parameters to lean on in the first step.

Planing sales & marketing needs more business background than a quick jump on series of retail oppertunities and requires a solid financial basis! Surely the long lasting members do remember Olé Flamenco who earned their deserved reputation in the end.

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REPORT THIS POST AS INAPPROPRIATE | Date Mar. 5 2015 12:32:10

Andy Culpepper

Posts: 3023
Joined: Mar. 30 2009
From: NY, USA

RE: Want to open a guitar store (in reply to mt1007)

mt1007, where are you located?
In Europe there already exists:
-La Sonanta
-Mundo Flamenco
-Solera Flamenca
And I'm sure many others.

If you're in North America I think the idea of having a flamenco guitar store could actually work as there is less competition. I think the Foro's Tom Nuñez is one of the only retailers featuring primarily flamenco guitars.

Having a store located in North America, especially featuring Mexican, American and Canadian luthiers would be really awesome!

_____________________________

Andy Culpepper, luthier
http://www.andyculpepper.com

REPORT THIS POST AS INAPPROPRIATE | Date Mar. 5 2015 15:39:20

Ruphus

Posts: 3782
Joined: Nov. 18 2010

RE: Want to open a guitar store (in reply to Andy Culpepper)

quote:

ORIGINAL: Andy Culpepper

I think the Foro's Tom Nuñez is one of the only retailers featuring primarily flamenco guitars.

Albeit selling classicals too, zavaletas might be worth mentioning too. Even though, I told James once that I dislike the gross profit margins he puts on Mexican makes.

To the TO:

You have come to the right place here.
On the foro we have really capable makers of flamenco guitars.
Experiencing their guitars and promoting them would be doing perfect to you, the builders and to customers who should be amazed to see what quality can be had at still decent pricing.

Unfortunately, with common business methods ogre being is being rewarded and decency on the other hand seldomly let to thrive. But I certainly wish you the best of luck and hopefully success with a project of decent approach.

Ruphus

REPORT THIS POST AS INAPPROPRIATE | Date Mar. 5 2015 16:22:40

sig

Posts: 296
Joined: Nov. 7 2007
From: Wisconsin

RE: Want to open a guitar store (in reply to mt1007)

I think you are on the right track with your business philosophy but the reality is if you don't have a buisness plan, you may not suceed. Having good intentions is great but the realities of running a business can sometimes overwhelm even the best laid plans. I'm self-employed and myself and two other partners run a business and there are a million things that need addressing everyday. We have staff and contractors so it is probably more complex in organization than running an online store but the pressures to make a profit, be fair and honest in our dealings with customers and the general public are the same. You will need a good supply of capital in addition to a line of credit as you will have inventory carrying costs. Those guitars aren't cheap! :)

As a player and prospective customer, I would like my online dealer to offer a trial period inorder to demo an instrument. I would also like the abiity to "trade-in" or possibly consign my old guitar. Perhaps you could also offer some Luthier services like, refinishing, tap plate replacements, and tuner replacements along with refretting possibly. You have to add value inorder to stand out from others inorder to make an impact. The issue is, you will bust your a$$ 12-16 hours a day and not make a dime for the first year or two perhaps but if you stick to your principles and operate an honest upfront business; they will come...
Sig--

REPORT THIS POST AS INAPPROPRIATE | Date Mar. 5 2015 17:27:25

Richard Jernigan

Posts: 3430
Joined: Jan. 20 2004
From: Austin, Texas USA

RE: Want to open a guitar store (in reply to sig)

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

REPORT THIS POST AS INAPPROPRIATE | Date Mar. 5 2015 19:33:55

mt1007

Posts: 162
Joined: Jan. 19 2011

RE: Want to open a guitar store (in reply to mt1007)

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!

REPORT THIS POST AS INAPPROPRIATE | Date Mar. 5 2015 20:28:12

tele

Posts: 1464
Joined: Aug. 17 2012

RE: Want to open a guitar store (in reply to mt1007)

If I would be selling guitars from a shop I would think clients would have enough confidence to pay with bank transfer. That means 3.5% savings and security for the seller when not using paypal. Maybe credit card too, but don't know about the fees and clients could misuse it with chargebacks and other problems. Bank transfer is best for the seller.

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REPORT THIS POST AS INAPPROPRIATE | Date Mar. 5 2015 22:15:59

Miguel de Maria

Posts: 3532
Joined: Oct. 20 2003
From: Phoenix, AZ

RE: Want to open a guitar store (in reply to mt1007)

My impression is the main markets are beginners looking for cheapies, $500 or less, and collectors who want really prestigious or engraved stuff and will end up with a handful or more of $3000+ guitars. It seems to me the $1200-3500 range is somewhat underserved. I feel these should be live, balanced instruments, but often they don't sound or play that good and rely either on a big name or aesthetics to justify the price tag. If I were to buy a guitar in this price range, I would want 100% of the money to go to playing and sounding good. As far as business model, I wonder if it would ever make sense for luthiers to create "no-frills" instruments that are solid players but could be made relatively quickly.

I am very happy with my Shelton-Farretta that was in that range.

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Arizona Wedding Music Guitar

REPORT THIS POST AS INAPPROPRIATE | Date Mar. 5 2015 23:11:04

tijeretamiel

Posts: 441
Joined: Jan. 6 2012

RE: Want to open a guitar store (in reply to Andy Culpepper)

quote:

ORIGINAL: Andy Culpepper

mt1007, where are you located?
In Europe there already exists:
-La Sonanta
-Mundo Flamenco
-Solera Flamenca
And I'm sure many others.

If you're in North America I think the idea of having a flamenco guitar store could actually work as there is less competition. I think the Foro's Tom Nuñez is one of the only retailers featuring primarily flamenco guitars.

Having a store located in North America, especially featuring Mexican, American and Canadian luthiers would be really awesome!

Andy, there's Guitar Salon in the States who mainly sell classical guitars but they do have an impressive selection of flamenco guitars.

mt1007, good luck with the venture.

REPORT THIS POST AS INAPPROPRIATE | Date Mar. 6 2015 9:02:27

Ruphus

Posts: 3782
Joined: Nov. 18 2010

RE: Want to open a guitar store (in reply to mt1007)

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

REPORT THIS POST AS INAPPROPRIATE | Date Mar. 6 2015 10:55:44