Forums: Discussions for entrepreneurs and small business.

i wanna open amusic store and the only thing i know is i need

a place to open it at

i think i need about (rough guess) $30,000-$50,000 to start

find a supplier (dont know how)

I have some friends that will work with me. Not sure as partners or just work for me. we have not discussed it to much yet.

a bunch of tax and insurence stuff.

and i think that is all i know. I am reading the 10 steps but i am not sure where to start.

Well, the first place to start is to tighten up your proposal. :-) I wanna open a philosophy shop, but so what? I wanna buy a 4-pound lobster, too.

What you "wanna" do and what other people will consider as a legitimate, thoughtful proposition are two different things. One good place to start would be with either a piece of paper, or a spreadsheet. List everything you would sell in the music store on one page. Then list every dollar you would spend for the store itself.

If it`s going to be a physical store, you`ll have rent, water, electricity, phone, parking, heat, and taxes. Then you`ll have shelves, carpet, paint, hangers, desks, counters, files, paper, pencils, pens, telephones, etc. Another sheet will be your services. So you might have an accountant, a lawyer, delivery company, packaging, mailing, advertising, and that.

Another sheet would list your primary legal expenses, such as incorporating, business ID, banking and accounts, registering the name and a "doing-business-as" appplication, etc.

The more detailed you make these lists, the easier it will be to go down each list, find someone who can give you the prices, and total it up. And it`ll make it easier for you to figure out what to do first.

BlackDeath020202 (that name is spooky man),

What kind of music store do you wanna open? Music, like art, is in the "ear" of the beholder.

Maybe you mean a musical instrument store? A guitar store? A sheet music store? CDs? They`re dying, man. LPs? They`re coming back. A bongo store - that would be cool. Steel drums maybe? Wind chimes make music - I love wind chimes.

Define your business idea a little better here and maybe we can assist you.

R@

-------------------------

Richard Arnold · Key Concept Writers · Business Communication: The "Key" To Success· Law of Attraction Blog · Life Ain`t Brain Surgery Blog

I want to sell cd`s and instruments. What are LPs? and craig thanks for your help. How would i find out if i need some of that stuff? Like the accountant and such. I am going to get an accountant but could`nt i do all that? thanks for ur help

 

Great you want to open a music store. I agree with Craig and the other define. Your plan and try an online store first this will get you in the business without a lot of outlay. I am designing a website for someone who wants to go into the record business for the last ten years. But first he is doing it online to gage customer response in the area and seeing how much he can get in download fees from the songs and artist he has now. Think about that maybe we can help.

-------------------------

Best Regards, Howard Lee CIO Wirehead Technology Tel:773-944-1365 Email:wireheadtec@gmail.com Web: www.wireheadtec.com

If you`re to the point of trying to figure out a) what of the list you would need, and b) where you would get it, I`m thinking your first step is some business education.

One way would be to attend or audit a couple of basic business courses at your local community college. Another is to take out some college textbooks for Business 101 types of classes.

You could also check out places like your local SCORE group, and they can help you more specifically determine what it is you need to learn next.

I wonder if you`d mind giving us your age? :-) An "LP" is short of "long-playing" record. They were the only music media for a long time, and came after the 78 rpm records on windup players. LP`s were 33 rpm (revolutions per minute) records, offering 22 minutes of music per side. "45`s" were for single releases, one on each side, playing at 45 rpm.

The reason so many CDs today are using only a portion of their available storage space is because the CD originally was a replacement for the LP "albums." Those held about 45 minutes of music, so most CDs at that time also held the same amount, despite their capacity for 70 or more minutes.

What`s your current business education? Would you say you`re beginner, intermediate, or experienced?

I am 20 and i am looking into clases at my local community college. I am a beginner and i am not going to do really any more with my business till i take some classes and learn some more.

Great! 20 is an excellent time to begin planning a business. You just step back a bit, and redefine what it is you`re planning. The way you posted originally, you made it seem as if you were at the point of developing a full business plan. It turns out you`re not yet at that point. But does that mean you just stop? No.

I`d suggest that you begin a Life Plan, at this point. At the top of that is your main goal---what it is you want out of life. Here`s a great story about focus. I once heard it at a seminar.

"When you go to the store to buy a shovel, what is it that want?"

See? Short story. :-) Everyone tends to come back with questions about well, it would depend on this and that. Doesn`t matter. People then get caught up in how much money do you have, what`s the store, where do you live, etc. None of that matters. It`s a logic puzzle, designed to be parsed.

"What you want is a hole."

See? Easy answer. :-D But it demonstrates a fundamental concept about life. The "shovel" is a metaphor for whatever it is that you want at any given time. For you, the shovel is the music store. "When you go to the universe to buy a music store, what is it that you want? What `hole` are you trying to produce?"

Most importantly, and not in the original story, is the question: "Why do you want a hole?"

Life isn`t about getting money. It`s about what you intend to do with that money. As such, let`s suppose you have this music store. It`s fantastic, selling music routinely, and everyone in the country knows about your music store. Then what? What will you do next?

20 is a perfect time to begin working on your Life Plan. Why do you want a music store, and not a corn farm, tractor factory, or physics lab? Why music? And what sort of music do you want to sell? How come? As you`re selling this music each day, is that what you want to do until you fall over dead? Why do you want to sell music? What will you do with the results of that activity?

These are the things that will help you very much when it comes time to start building your actual business plan. See?

Yes, 20 is a great age to start a business. In fact I had a record store back in the late 70`s. I was 19 went I started it, my first of many business. Back then I had no real business plan but, I knew what I wanted the store to do pay for my technical training from there. I opened a TV repair at 21. Now 25 years later. I still like owning my own business. So get more training and keep growing. That the best advice I can give you.

-------------------------

Best Regards, Howard Lee CIO Wirehead Technology Tel:773-944-1365 Email:wireheadtec@gmail.com Web: www.wireheadtec.com

thanks craig. i really needed that. I love this site and the help people give and all the information the site has to offer. I will let you all know how it is comming from time to time thanks.