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Step One: Know why you're doing it and seize the moment. Step Two: Find a nice spot and be patient. Step Three: Choose your partners wisely. Step Four: Keep the concept simple. Step Five: Familiarise yourself with DIY. Step Six: Get your records in. Step Seven: Price wisely. Step Eight: Get the people in.
For example, if a record retails at $26, you would have to expect to pay around $20 to buy it for your store. Keep in mind that distributors don't offer refunds or exchanges for damaged or unsold products. The start up cost for new vinyl alone could be $50,000 alone.
Then, a regular collector may come in and buy a significant amount of items. A small record store might make $800 to $1,000 per week in average sales or $41,600 to $52,000 in sales per year. Approximately 25% of the sales are profits, which equals $8,350 to $10,500 per year.
More commonly and most often between 25¢ to $1.00 per CD/DVD/BluerayDisc/(and most video games too if they are not a new release title).
How much profit can a record store make? There may be low sales during any particular week. Then, a regular collector may come in and buy a significant amount of items. A small record store might make $800 to $1,000 per week in average sales or $41,600 to $52,000 in sales per year.
For example, if a record retails at $26, you would have to expect to pay around $20 to buy it for your store. Keep in mind that distributors don't offer refunds or exchanges for damaged or unsold products. The start up cost for new vinyl alone could be $50,000 alone.
One is worth $10. one is worth $10,000! A significant factor in determining a vinyl record's value is the label on the record itself.
Today in the 21st century, record stores sell CDs, vinyl records and in some cases, DVDs of movies, TV shows, cartoons and concerts. Some record stores also sell music-related items such as posters of bands or singers and even clothing and items such as bags and coffee mugs.
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