I'm a 19 year old janitor who wants to own at least one successful new/used record store by the time I'm 30. What steps to I need to do to achieve this?

LaCoyta said:

Step one: Buy a new/used record store.

Step two: Quit janitor job or seriously reduce your hours.

Step three: Celebrate your thirtieth birthday quietly with some friends.

Step four: Report back here.

Stop visiting this site and go to musicsites about more populair artists.

dawn74 said:

Oh no you didn't!

2the9s said:

She Orgnoted me - thanks for the advice! I'm going to Pharellwilliams.com and eminem.org right now!

Sorry bro

I can't quit my job I need the money
Can't cut back on my hours cause I'm only working part time
Can't buy a store cause I have no money.

How do u make a business plan?

PLEASE! Google such questions first before posting them here!

Sorry! Mood-swing...

LaCoyta said:

your local chamber of commerce should have a group of retired business people who can help you start your own business.

business plans are very important ...

if you are serious about it - i would research it ... seriously ... big time ... --- i would recommend u start at your state level ... I know here in Pa - we have a small business start up "kit" that kinda tells you all the little stuff that u might forget or have never thought of ... (you can go online or make a phone call and probably get this delivered to you for nothing )

-little things like tax id #

-or "corporate name" ... etc ... these are important items that many people do not know what they are for , etc ... but you do have to research it ...

Without alot of knowledge about you - or the "music shop business" ... i have to say this --- any retail operation is very tough ... $$$ speaks ... and i would imagine that you need to have some $$$ saved up ... BIG TIME ... (of course - you may come across some record store owner who wants to sell it to you --- on a sales agreement ... but buyer BEWARE... if he sells it to you with little $$$ upfront cash ... you have to ask WHY ... is the store owner making any real money !!???

after your research - you will discover that you have to also decide whether to do it as a sole proprieter ... or a corporation ... very important ... ( or as a partnership , etc )

I went into business with others ... and would never do it again ... I also wish i would have researched alot more ... and i would furthor recommend that you look into Bruce Williams radio show ... the guy can be a downer ... as far as shooting down your dreams (telling you how tough it is )... but he has owned many diverse businesses ... and is very knowledgeable ...
I wish i had listened to him earlier ... I am now out of that business that i am in ... but it took me about 5 yrs to get out ... and it cost me $$$ ... I am now in another business that is successful and profitable ... like i said ... if i knew then , what i know now ... NEVER would i have done that ...

Simply being interested in music and records , is not enough ... you have to think about things such as this --- are u willing to give up your life ... as you know it ... and truly dedicate yourself to the business ... it is like a marriage ... long hours in retail ... working on the "books " ... paying others (if you have other full/time-part/time workers ... labor laws ... fair housing ... all this goes into it ...

damn - i started this post ... as just a paragraph .. and i have gone off ... I would never want to "shoot down anyones dream " ... just remember ... it is tough ... and make sure u have all your ducks in a row ...

in short - research - research - research ... its been awhile since i had the statistics in front of me ... but i believe ... that 80%+ of new businesses fail ... in the first yr ...

Get a business degree!

An stop watching Mr Ed!

2the9s said:

Although maybe talking horses could again catch on.

LaCoyta said:

well,you can work my corner with me till you're business takes off.

Christopher said:

Do you sell crisps?
[This message was edited Tue Dec 23 7:52:40 PST 2003 by JDINTERACTIVE]

JDINTERACTIVE said:

if you wanna call it that. then yes

JDINTERACTIVE said:

DO NOT TAKE ANY BUSINESS ADVICE FROM PRINCE!

2the9s said:

I've got one of those!!! I got a BA (Hons) Business Management with Marketing degree.

My Advice:

I studied Small Enterprise Management (got a very good grade 4 the module ) and its true that most businesses fail when they r started up. U need investment and u also need 2 write a detailed business plan 2 obtain finance from a bank.

Starting up ur own business is difficult so I recommend trying 2 get a job in a record store and see how things r done.

I have talked 2 some owners of small record stores...I spend far 2 much money on CDs!!! ...where I live in the UK and they r finding it hard 2 compete with the major retailers and even supermarkets r selling CDs now at cheap prices so u need 2 get in contact with record companies/distributors and understand that they usually sell in bulk meaning u need alot of startup capital 2 buy stock

My final advice is work in a record store...talk 2 the manager/owner (espically if its their shop) and ask them related questions about owning a business.

Hope this helps

buy lots of CD's/tapes/LP's/8-tracks and sell them out of your basement or on ebay

LaCoyta said:

Start buying used records now. Also start selling on ebay. But I already told you comedy is your calling.

My brother sells stuff on ebay(he's broke) I've tried and I suck at it.
I've tried to get a job in a record store but I couldn't get hired
I know someone who owns a used record store he isn't successful Sometimes he doesn't have the $$ to buy cds off of people.
Can u be good at getting a business degree if your math isn't too swift? That's what concerns me about going to school (I might though in a few years)
I'd never go into business w/ someone sharing porfits makes me ill
Can anyone give me a ballpark figure of how much opening a small store in a small town might cost?
Anything I can do to earn some extra money while cleaning other people's messes?

LaCoyta said:

What are you selling? Stolen office supplies? I think I see your problem...



Inauspicious.



So what is it about the selling of used records that makes you want to risk venturing into it as a business?



I don't see why not. But at least get a good calculator.



Do you have a high school diploma? If so there's nothing wrong with taking a few years before you decide to go to college and decide WHY you want to go to college. As well as decide how you want to pay for it.



Yeah, but it's easier to embezzle from someone when there is a partner. haha just kidding.



I'm an English major...so no.

30 thousand start up? I don't know.



Hmmm I'm no business major...but "people's messes" + "ebay" = "quick start up cash! "

Seriously LaCoyta, can you talk to a Guidance Counselor about this or a family member? (preferably NOT your brother.) Just asking.

Watch a lot of infomercials and buy all of their products, you'll be making money in no time or you could talk to your local Amway or Avon salesperson, I'm sure they'd be willing to set you up. You ever consider a career in selling encyclopedias?

2the9s said:

So what is it about the selling of used records that makes you want to risk venturing into it as a business? [/quote]
It's the only thing I have a passion for that I think I could actually DO.




Do you have a high school diploma? If so there's nothing wrong with taking a few years before you decide to go to college and decide WHY you want to go to college. As well as decide how you want to pay for it. [/quote]
I'd want to go cause I heard college graduates make more money. I'd apply for financial aid, I suppose




Hmmm I'm no business major...but "people's messes" + "ebay" = "quick start up cash! "[/qoute]

oh no, I;m so embarrassed at my lack of ebay seller abilities that I can't bear to try again


No and I don't know where to turn, that's why I'm here
I could never sell make-up (I don't wear any myself)

Ughhh that quoting is a mess...

What exactly are you passionate about? The music?

Oh yeah. College graduates make way more money. Ask any libertarian on these boards that.

Don't let ebay get you down. Are you a member of the NPGMC? See? It's that easy!

Well at least you're turning somewhere. And college is a good bet. Though if you're in a small towm the person up there who mentioned something about your local chamber of commerce was on the right track too.

Plus, you're gonna have to suck it up and probably have to work with a partner at some point!

2the9s said:

I'm passionate about, music, record collecting, the whole bit. Ther's other things I like but I'm not as good at them sometimes I downright suck at some of the other things
I'm not a member of the NPGMC

is that you in your avatar?

sinisterpentatonic said:

When I was a freshman in college, a guy who lived in my dorm tried to recruit me for Amway. For several months, he talked to me (without getting too specific) about his "network marketing business" over meals in the dining hall. Finally he asked if I was interested in learning more about it... I had some free time, and I was interested in his "business," so I figured, why not?

I thought he did a pretty good job with his presentation... but he didn't really have much to say when I did the math for him and showed him why only a few people are going to make a lot of money in a multilevel marketing system like that.

Oh, he didn't tell me that the company was Amway until halfway through the presentation, and he admitted to me that he had ways of dodging the question if someone asked early on, "Is this Amway?" Definitely a red flag there.