- Regular and repeat business
- Business in operation 7 years and growing
- All setup, the hard work has been done
- Opportunities to double turnover in one year
Record stores in general, are very popular again and, in fact, are booming all over Australia and the rest of the world.
People generally and music lovers are returning to the warm, natural sound of music on vinyl. i.e. Records.
And new records are being pressed and produced in large numbers again, and the sales demand is quite staggering.
At the Record Store, sales are largely second-hand LP records and hi-fi equipment which includes the turntables, amplifiers and speakers that are required and in demand to play and listen to records.
The business has many repeat and regular customers.
Effective advertising strategies bring in the stock for the business. Mainly second-hand records.
People come to the business with their records to sell and the business purchase these and then resells the records at a good profit.
There is no shortage of potential stock. It keeps coming through the door. Generally speaking, the business doesn’t have to go looking elsewhere for stock. It comes in
The business has a wide range of products including:-
- Second-hand LP records;
- Second-hand CDs;
- Also some DVDs, music-related books and retro men’s shirts;
- Second-hand Hi-Fi equipment, including turntables, amplifiers and speakers.
Growth opportunities for revenue can come from:-
- Introducing new stock lines, that is, brand new LP records – huge potential;
- Introducing new LP turntable sales;
- Introducing band T-shirt sales;
- To utilize existing web platform sites such as ebay and Discogs (specifically for record selling site);
- Develop own website or online store to conduct internet sales of records. Most record shops these days do sell online as well as through their bricks and mortar retail outlets. Presently the business does not sell online;
- Developing a Marketing plan and strategies and implementing this plan;
- Working on developing even more referrals and repeat business;
- Opening longer hours.
The present owner realistically believes that gross sales turnover could be doubled from the present $107k annual turnover to around $200,000 annual turnover with the introduction of NEW vinyl into the shop.
Most record stores in Australia and around the world have a combination of new and second-hand LP record stock. NEW records are quite easy to obtain also from wholesale suppliers overseas.
Information Memorandum Availability
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|Business Location||Adelaide, South Australia, Australia|