Openning a hi fi shop

The question you are asking really needs to be turned around and looked at from the perspective of what type of customers are you trying to serve. If you are starting a store in Redmond and catering to Microsoft millionaires you might want to focus on ultra high end gear. If you have a store in a college town you would want products that students could afford.

It would be a fun exercise to research this. Every month I hear of a new brand of speakers or electronics that are being introduced into the US market and all of these companies are looking for distributors and dealers.

An example of an interesting line that is not well represented here is Tsakiridis from Greece. I saw this stuff at the 2018 AXPONA and was really impressed by the sound and workmanship. The prices were very reasonable.

The store I deal with in Gig Harbor took on Line Magnetic gear which was a surprise to me because I had considered it the type of thing you ordered from China. However, this gear is stunning to look at and seeing it in person was a revelation. I'm sure that there are a lot of people who would never consider that brand unless they saw and heard it in person.

Curating the gear for a particular store would be a complex challenge.

I started a Hifi Shop back in 1986, as a Student with £10K, my business partner had £10K and off we went - highly specialised niche market to begin with £300 system, and a £1000 system. Aimed at non-audiophiles, and we installed everything for free in their homes. We lost money for the first year, but gained a great reputation. The shop was memorably named "The Cornflake Shop" and it's still going strong...though moved from hifi to Custom install and Home Cinema. 
Above all else what you need is customers, and you have to work out what you can do that special in your area that is going to connect you to these people.
Start specialist - really be ultra specialist rather than generalist, then you establish a very clear brand, and following for your individual talents. Its a people thing. 
But to sell Hifi means comparisons, and you do need some money to have the right stock. Hard work for years, but such good years ! Good luck ! (It is a bit of a religion I have to say I liked erik's idea..)

Retail and dealing with the public is a hard business. As per what was mentioned above it requires a ton of planning and a lot of money. There is a lot of risk too. I look a all business adventures in terms of what is my annual rate of return going to be and what risks do I encounter in trying to achieve that return. Then, (this is important), how does this rate of return and risk compare to other things that I can do with my money. There are always alternatives. Maybe you can make a better return with similar or less risk doing something else with your money and your time than opening a hifi shop. Plus here is a great quote from one of my former business managers: “Business would be great, if it weren’t for the people”. Please be careful. 

Tvad  I don't think so but I think it is interesting to hear what people think would be a good plan. 

ebm: bringing large brands into the store like Magico requires a ton of money, they want you to commit big time because they advertise and while you may think they sound great customers must also agree with that and of course if there are other hi fi shops that have the well advertised brands and people listen there they might think that brand X sounds better then your brands. 

georgehifi. has that model worked for you. I think you have a shop but I don't know the name and location.

chris_adair  I love what you did...when I started sell for a retailer in the 70's ( oh my god am I that old ) we had a full system for $300 with a turntable cartridge receiver and speakers and they went up in $100 increments for people that wanted a whole system. 

eric. I think it would be helpful to open in a church since you would spend most of your time praying for business.. 

rich-opp yes you do have to taylor your shop to your community for sure or you are done for. Probably done for anyway..