If you’re a musician who is interested in expanding your business, starting a musical instrument shop is a great idea. Depending on the type of instruments you sell, you can expand your business by creating affiliations with local music schools and instructors. Whether you’re looking for acoustic or electric guitars, you’ll find a selection at Musician’s Friend. Most products include a manufacturer’s warranty and free shipping.
How to Starting a Musical Instrument Shop
In the beginning, many music instrument shops began as local Los Angeles locations that served schools and music programs. Now, the shop has expanded to an online platform to serve musicians of all ages. Their mission is to provide affordable instruments to everyone who wants to make music. In the process, they’ve been able to provide affordable prices to music enthusiasts from around the world. If you’re thinking of opening a musical instrument store, start by educating yourself about the basics of business insurance.
A Pony Music shop needs to have an inventory of instruments. Depending on the size of the store, an average musical instrument store will carry $50,000 to $100,000 in inventory. Other costs will include insurance and retail store supplies. Besides the inventory, you’ll need to buy fixtures, furniture, and cash registers. If you’re planning to sell instruments, you’ll also need to register your business with your state’s department of revenue. Ultimately, you’ll need to decide on the type of licensing and insurance required for your location.