Aggressively target the public school system and local religious organizations. There are several types of insurance policies created for different types of businesses with different risks. In terms of buying guitars on eBay, it is very safe. Starting a guitar store differs little from establishing any other small business. The most common business structure types are the sole proprietorship, partnership, limited liability company (LLC), and corporation. Test Your Idea First, How to Come up with Hundreds of Business Ideas. Some manufacturers will loan the instruments on consignment to help a new store get up and running. Make sure then that you are offering realistic prices for your product. It is easier to help customers if you know how to play the instruments and can make good recommendations based on personal experience. Learn more about music licensing requirements, The Alliance of Independent Music Merchants, Franchise opportunity with Music Go Round, a national instrument retail chain, A Nationally recognized instrument chain store. Their prices are typically on par with what you would find at any other retailer. You can find new and older models of guitars that physical stores don’t stock anymore. They are pretty much the go-to retailer when it comes to purchasing in a physical store, but their online catalog is even more impressive. This way, there are no surprises. Marketing expense could be budgeted at $2,000 per month. Factors to Consider When Starting a Guitar Shop Buyers would typically compare prices for the goods they are planning to buy. Review all building codes and zoning requirements for you business’ location to ensure your musical instrument business will be in compliance and able to obtain a CO. It’s important to separate yourself from bigger chains. It helps to be located in a town with lots of high school or college students who could be potential customers. We’ve gathered necessary and useful information to help you succeed both professionally and personally: If you’re a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant. You can have it shipped right to your door without having to leave your home. Music accessories are also offered. Workers in the store are also typically musicians. At Musician Friends, you get to deal with professionals who can even help you identify the kind of guitar you need, especially if you are not sure. If you ever purchase music software and need help configuring it, they even have software where you can allow them to remotely take over your computer and fix it for you on your machine. Check out our How to Start a Business page. A guitar can look perfect on paper, but if it doesn’t feel good in your hands, then you shouldn’t buy it. We will establish our branding with our superior service and selection, the excitingly modern look of our retail environment, our “hands on” merchandising approach, and a series of ads with our motto: Stop Dreaming, Start Playing. It helps tremendously if the business owner has a love of music in many styles. Keep in mind that as mentioned above, Guitar Center is also a great place to buy used gear. Continually modify the product and service offerings to stay on the leading edge of technology within our market. When determining whether or not you should buy a guitar online versus a physical store, there are several factors that you should consider. One huge advantage that Amazon offers is fast and free shipping if you’re an Amazon Prime member. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Musical Instrument Store Name Generator. This essentially removes all of the risks of buying online. In business law, this is referred to as piercing your corporate veil. Satisfying unpredictable public tastes may … This service promises a quality result in time and money-back guarantee. I am confident that you will be able to find the perfect guitar that suits your needs as a player. These steps will ensure that your new business is well planned out, registered properly and legally compliant. Additionally, learning how to build business credit can help you get credit cards and other financing in your business's name (instead of yours), better interest rates, higher lines of credit, and more. In addition, you’ll find guitar models that are a few years old as well. Moreover, in case of any problems after the purchase, their customer service will promptly resolve the problem in the best way possible. However, since they’re not a dedicated music retail store, their customer support is not well educated in terms of guitars. MusicWest will focus on the novice, hobbyist, and semi-professional musician; these three groups are seeking value, customer service, and knowledgeable assistance in making what can be a rather significant purchase. If you operate a sole proprietorship, you might want to operate under a business name other than your own name. There’s a good chance that the store won’t have the exact guitar that you’re looking for down to a tee. Write your business plan with the #1 online business planning tool. There are some very successful national chains, such as the Guitar Center.