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I'm going to open a record shop

Started by lazyhour, November 18, 2013, 12:45:18 PM

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Danger Man

Quote from: El Unicornio, mang on November 18, 2013, 02:25:09 PM
I'll take them!

So you should. I'm guessing the Discogs valuation is well over £2,000 and I'm willing to sell for £300.

I'M CUTTING MY ARM OFF HERE

Blinder Data

I can't give any advice based on experience, but like the plans you've already laid out I think you need to diversify your income streams (kill me). Pie & Vinyl in Southsea - what a gimmick! I love pies, I love vinyl. People might just go for the pies and pick up a record as an afterthought. Mono in Glasgow holds gigs, has a big vegan café area AND sells records (they also own several other bars and cafés in the city). Starting from scratch you can't make much money just from selling records nowadays. I'd suggest getting some fucking excellent cake suppliers in, plus serving great coffee. Create an awesome vibe for people just to hang out, play board games, choose records to play on the shop's system (controversial, I know). Then they might buy records.

New businesses - is it that they should expect to break even after two years? Something crazy like that. Unless you're minted I'd suggest finding other ways to bring people in and spend money - you could and should do events of course, but many of these I suspect will be free unless you have a proper good set-up for gigs. Selling booze would bring in money but I imagine a right pain in the arse to sort out the licensing.

I chatted with a coffee-nut friend over a few spliffs about setting up a café called Eggs & Beans. He would serve awesome coffee, I would serve inventive omelettes and other dishes the main ingredient of which is eggs. Feel free to take this egg idea cash-cow for your own business.

Best of luck. At least there'd be a new venue for CaB meets!

small_world

I wish you the best of luck in this. You'll have to keep us updated on how it goes.

No real tips, and I don't do record shops, so haven't got any experience. But in Eastern Europe, they use a great pricing tactic which may work well with your "Get a load of new stuff in on a Saturday to create a buzz", idea.

In some second hand clothes stores, they have prices for their goods.
They get a new load in on a Thursday.
This then goes out as new stock and that's the buzz day.
On Friday, they offer 5% off.
On Saturday and Sunday, it's 10% off.
Then, Monday is 20% off. Tuesday 30% off and Wednesday 50% off...

This means that anything new, there's a real buzz.
Someone sees something they want, they choose to buy it then, or come back later trying to get a bargain, but run the risk of losing out.
It means you can adjust the price of all goods, so something which may have been overpriced, will hit its price-point.

In some places, once an item has been through this cycle, it's then sold by weight.

Works really well. There is a total buzz on all days, as things are constantly changing.
Far better than having 300 Olly Murrs CDs that the customer knows will be £15.99 from day one until three months later when they'll suddenly be being sold for 99p.


You wouldn't have to apply this to everything (or anything :-), you could blue tag items, which would go some way to adding an extra level.


Implementation wise, they have signs behind the tills explaining the pricing structure.
It's an in for someone talking to a customer too, "Do you know about our pricing structure?" - "What are you interested in/looking for?"...





lazyhour

Quote from: Blinder Data on November 18, 2013, 03:14:37 PM
I'd suggest getting some fucking excellent cake suppliers in, plus serving great coffee. Create an awesome vibe for people just to hang out, play board games, choose records to play on the shop's system (controversial, I know). Then they might buy records.

This is pretty much exactly how I want it to be. My goal is that you and your partner/mates come in on a Saturday, have coffee and cake and a natter, listen to some nice music, and maybe mooch about the records and vintage stuff while you're there. That way, we're making a few quid on coffee and cake even if we don't make a sale of our stock. I want it to be a clean, fresh, interesting destination, not an overstuffed Record Shop For Bloody Blokes.

lazyhour

small_world, the Music & Video Exchange shops in London do that drip-drip price reduction, but they reduce everything by a quid each month. I think this chain has its own problems, but you could never accuse them of being without bargains if you're prepared to (a) wait and (b) plough through thousands of records. I'll definitely incorporate some kind of price reduction or special sales days etc. I suppose Saturday could be both the day that new stock goes out, and the day that older stock gets reduced. As you say, buzz-central!

Johnny Townmouse

Put out limited singles by local bands - build a small label around the record shop - do events - offer a loyalty scheme - get a big local band to do something for record shop day - do bulk buy orders (buy ten get two free) - sell t-shirts that are only available from bands touring - sell cult books - do record signings - host and sponsor a gig night - do a gig guide and sell live tickets - give out flyers at gigs with 10% off stock on a Saturday - sell record players and headphones and MP3 players - stock lots of free magazines - make bags with your logo, and t-shirts too......................

BE FRIENDLY TO CUSTOMERS.

lazyhour

Free magazines and loyalty schemes are excellent ideas, as is giving out flyers with 10% discounts attached!

Thanks everyone for all your thoughts so far. I think what's interesting about record shops (and independent shops in general) is that it's pretty common for customers to have strong feelings about how these shops should behave - yet they so often don't.

Quote from: small_world on November 18, 2013, 03:16:29 PM

In some second hand clothes stores, they have prices for their goods.
They get a new load in on a Thursday.
This then goes out as new stock and that's the buzz day.
On Friday, they offer 5% off.
On Saturday and Sunday, it's 10% off.
Then, Monday is 20% off. Tuesday 30% off and Wednesday 50% off...

This means that anything new, there's a real buzz.
Someone sees something they want, they choose to buy it then, or come back later trying to get a bargain, but run the risk of losing out.
It means you can adjust the price of all goods, so something which may have been overpriced, will hit its price-point.

I think this is a really clever and interesting model. Thanks for that.

I'm going to start a business selling % OFF signs

the psyche intangible

Quote from: Don_Preston on November 18, 2013, 01:05:18 PM
Consider doing that in Lancaster, devoid of a decent record shop, and I'll become your partner. And then we'll open a record shop...

When did Ear Ear dissolve into the streets? I used to go there and that stall in the market. Then through to Action in Preston, then VE & Piccadilly in M/CR.

23 Daves

Quote from: lazyhour on November 18, 2013, 02:30:16 PM
Will do! I seem to recall you bought a Pink Floyd "See Emily Play" 7" off me many years ago on eBay...

I don't think it was that (the only copy I have of "See Emily Play" is on a dodgy looking Spanish EP with coloured vinyl, and I'm pretty sure I bought that direct from Sister Ray).  Can't remember what I did buy off you, though.  You're a lot better than some of the idiots I've been dealing with on ebay over the last month, I've had such an irritating time of it that I may actually stick to a small list of preferred sellers from now on.  I can't understand why so many record collectors are so hopelessly disorganised in all other aspects of their lives. 

Which brings me neatly on to the topic of record store owners... I think that at one point, they were expected to be quite surly and judgmental, and braving the withering gaze of the roll-up reeking men at the store's counter was a rite of passage.  Certainly I've read humorous biographical accounts about how hilarious it was when somebody was on the receiving end of abuse for daring to ask for a shit album in a local indie store, and how the store owner's unpredictability was part of the appeal of the place.  Young people now just don't understand why that's necessary, and to be honest, nor do I (and nor did I ever).  If I'm to take someone's opinion seriously, I have to be aware of what their taste is in the first place.  I don't mind a record store assistant telling me that a pressing is badly mastered, or a record is disappointing in relation to the artist's other material, but if I'm a fan of The Stone Roses and they're not, I really couldn't give two shits about their opinion. 

Let's name names, shall we?  This chap isn't a "character", he's an idiot - I could spend hundreds of pounds a year in his store, but he's so obnoxious I actually choose not to.  He's showing his better side for the camera here, but still calls most of his customers "idiots":  http://youtu.be/PaCfWjfEs8s

QuoteThey don't seem to want eighties stuff, though.

Yeah, this could well be a London thing. I only really DJ in London, so I can only judge from the people I've met here and the odder requests I receive. 

WesterlyWinds


Head Gardener

#41
still a few days left to buy one in London 



http://www.ebay.co.uk/itm/On-The-Beat-Records-A-Classic-Vinyl-Collectors-Record-Store-in-Central-London-/221305313500?pt=UK_B_I_Business_for_Sale_CV&hash=item3386d318dc

however...

A Guide To Cockney Record Shop Slang.

Unique/once in a Lifetime = never ever ever never at all ever.
High Fidelity Life = hunger, pain, stress, poverty, grief.
Rock 'n Roll Lifestyle = smelly, hanging, minging, irritable bowelishness, bolabola virus.
Interesting People/Swinging London = tramps, dossers, weirdo's, thieves, religious nutjobs,
he-she's wearing turd-splattered leggings and perverts.
Alladin's Cave of Musical Gems = pile of worthless shit from the 80's and some Pulp.
Groovin', Pulsing History Steeped In It's Very Walls = cum soaked back alley that honks of piss and crack.

lazyhour

Yeah, that shop has almost nothing decent in it, the owner seems to be an unfriendly grump, and it's dark and dingy. I sincerely doubt it has much customer/Londoner goodwill attached to it. I wouldn't take it over.

23 Daves

Quote from: lazyhour on November 18, 2013, 07:58:14 PM
Yeah, that shop has almost nothing decent in it, the owner seems to be an unfriendly grump, and it's dark and dingy. I sincerely doubt it has much customer/Londoner goodwill attached to it. I wouldn't take it over.

I actually didn't even know this shop existed until a few weeks back.  I asked someone if it was worth visiting and his response was "It's a bit overpriced" which is hardly gushing praise.  I might have to nip in before it (inevitably) closes down.  There are rumours that the Council has their eye on that street for a regeneration project anyway. 

Brundle-Fly

Put useful descriptions on each album like Rough Trade shop and the cool indie stores do. Really works for me.  Or do people in the shop just Google on their smartphones something they are curious about now?

Good headphones that cuts out external noise. Nothing more infuriating than trying to sample a gentle electronica album when the assistant is blasting out Atari Teenage Riot. Oh, and a packet of disinfectant wipes to clean off the last listener's dandruff.

And as already stated, be friendly to the customers. Too many miserable sods run record shops.

Good luck, I will pop in, definitely .

Crabwalk

My main piece of advice would be to open the place in Cambridge, where I will happily reward you with up to £10 per week in custom.

Also, consider merching yourself up. The margins can be decent and (yes it's crass to put it in these terms) you get yourself some walking billboards:



PS This doesn't spell the end for Hong Kong in the 60s does it?

Franny Joyce

Gis a job mate. I don't only like Krautrock.

Jim_MacLaine

Have you got a name for this proposed establishment yet and will you be using the classic British shop pun e.g. The Codfather, Jack the Clipper?

If so you can have 'Vinyl Tap' for nowt[nb]because it's shit[/nb]

Alternatively 'The Spin Inn' was the name of the fictional record shop I owned with my erm.. fictional twin brother when I was a nipper[nb]not HMV[/nb].

Crabwalk



checkoutgirl

Papa's Got A Brand New Bag (of records)


checkoutgirl

Daft Funk

Vinyl Solution

Pete 'N' Bernie's Philosophical Record 'N' Coffee Shop

The Vinyl Countdown

Corner Pop

Johnny Townmouse


lazyhour

Quote from: Crabwalk on November 18, 2013, 09:43:57 PM
Also, consider merching yourself up. The margins can be decent and (yes it's crass to put it in these terms) you get yourself some walking billboards:

PS This doesn't spell the end for Hong Kong in the 60s does it?

Don't worry, Hong Kong in the 60s is quite safe! Our records just might start sounding a bit more seasidey. Come to think of it, lots of them sound seasidey already. Probably a good omen. We're finishing off a free EP at the moment, as an aside - should be mastered and available for download before xmas.

Merch is a great idea - we'll start with tote bags and badges and see how we go from there. Excited to design the logo and branding for the shop/merch!

kngen

My tuppence worth:

Always have stock turning over - nothing kills a record shop like stagnant inventory. Also (and this is where the really hard work comes in) try and deal with labels directly, as well as the distribution companies, because - if you get the rep for carrying the one-off, limited things that labels tend to hold back for mail-order customers - people will flock. Yes, collector scum love getting special rarities in the post, but no one on earth doesn't love walking into a shop and getting the coloured vinyl version to coo over in the pub afterwards. This will require a fair amount of one-to-one dealing with individual labels, hence distribution companies being so prevalent, so if you have a particular shtick, then plough that furrow like a bastard. If you only have, or 80% or for your stock is made up of - stuff that Southern carry, then you're far from unique in the record shop world. In the height of my nerdiness, I could usually tell what distros the shop was using within five mins of perusing their new releases rack - so more often than not, a cursory glance of the 2nd-hand bin would be as much as I would indulge in if I got the feeling they were carrying what everyone else was. And unfortunately, I'm the kind of dick that you want to be courting in the long term.

Carry lots of merch - music can be accessed in a multitude of ways, T-shirts far less so. And people love them.

Have a late-night record party once a week. Let people bring carry-outs, within reason, offer a discount on your stock and get a 'face' to spin some lesser known gems from your vaults.

Go to your car boot sales/jumble sales/etc and buy all the tapes you can get your hands on (esp old metal/thrash and hip-hop). Charger a fiver each for them - they are the junk bonds of the new millennium.

lazyhour

Tapes?! It is a crazy, mixed-up world.

DJ evening hang-out type events are a nice idea. I've also seen a 2nd hand record shop do a cool thing where you can bring and play up to three tracks (or up to 15 mins I guess) as part of a takeover DJ event - you just need to write your name down when you arrive to stake your claim to a slot. Kinda like a karaoke night, really, but with records. I like it, anyway.

boki

Quote from: kngen on November 19, 2013, 09:15:36 AMAlso (and this is where the really hard work comes in) try and deal with labels directly, as well as the distribution companies
Usually sage advice, but
Quote from: lazyhour on November 18, 2013, 01:19:17 PM
Note: it would be an entirely 2nd-hand shop.
Having said that, I think it'd be a great idea to stock new stuff by small labels and self-releasing[nb]No, not like that. Not in the shop.[/nb] local acts. Hubs are important.

If you would like me to build you a few tube amps to sell, just buy the kits and send them to my house, just call me Dr amp.

kngen

Quote from: boki on November 19, 2013, 09:25:16 AM
Usually sage advice, but

Ah, I must have missed that bit in my rush to impart my wisdom. Good idea - almost all of the record shop owners that I've known whose shops went under did so because they were in hock to the distros for thousands of pounds worth of stock that they couldn't shift