Starting my showroom again
Hello, audiophiles. I would like to get your honest feedback. Back in 2022, I had to close my business in Nashville owing to a series of unexpected occurrences (several deaths in the family, a rapid move to assist my mother-in-law, and a brain operation); all of this necessitated that I close the store in a matter of weeks. It was now a two-hour trek to Nashville. I worked as a glorified gate operator at a chemical company because that is all was available in our small town. I received an opportunity to become national sales director for an audio company, which would provide some income—not much, but enough to go back into the hifi business at the bottom level.
So now you know the incredibly brief version of the story. Here's the question: there is a little town about 30 minutes away that is booming and gaining more expensive retailers like Ulta and StarBucks. So here's the question.
Do you believe a small town like that might support an up-and-coming hifi business that sells receivers, speakers like PS Audio, KEF, and other manufacturers at a lower price point until the store can handle more expensive items? The closest "electronics store," Electronics Express, is nearly an hour and a half away. I have had an audio shop since 2003, beginning in Florida. Thoughts?
@decooney Just look at the current market and how companies are closing, being sold and consolidation. This market (high end) is deteriorating whether it is published stories in a headphone rag or not. 11% CAGR thru 2029 is projected being driven in Smart Speakers, Sound Bars and Personal Audio not High End. I do hope they are wrong but the trends are negative for Hi-End/Audiophile EQ. |
While I don’t disagree, what we do see is some level of consolidation which means someone is buying and keeping a few alive. ie.. Bose buying McIntosh, who thought. Wow. We had 35 audio stores and combining a few manufacturers around my metro area in the late 70s early 80s. For a local example, now there are 3 shops since the pandemic, and a brand new one started last year into a 3rd upgraded location, dealing in all-vintage audio gear, doing okay. Solid local interest. The owner just told me last night he’s now picked up Pass Labs. We all grew up around it here in my area in NorCal though - that is my disclaimer. I looked at a PA craigslist/ele section last week, all kinds of interesting gear. Not dead yet. Headphones are great, but not the entire solution for everyone if that’s what you follow more. Headphones will continue to be its own following and culture too - no doubt.. Now back to listening to monoblock tube amps and large speakers today. Happy Holidays to all.
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The online dealer thing isnt going to offer any opportunity for you (IMHO). I think that ship has sailed and the major web stores are already doing a lot of business for the major manufacturers. A new webstore is not different. Remember, more stores is not better- to a manufacturer it just means more work-especially since without differentiation you are splitting up the business they already have. That isnt helpful. Manufacturers want people who can ADD to the party, who bring something new and unique, bring their own customers, reach people they cannot reach any other way than through you. Sell them on your unique ideas- your ideas are what make you and your new store special. Sell them on how you will bring something new to the table no one else is offering PLUS you have the wherewithall to endure, stick around, not go away in a year like most do. If you can sell them on these things then you have a decent chance you will get some attention from manufacturers. There are multiple brands that have no representation in Nashville so what manufacturers never get presented there? That's easy thing to figure out. If a factory isnt well represented in a market, they will usually listen if you have an idea that seems unique and looks like you know what you are doing (plus can afford to buy some inventory). Go to AXPONA and meet the people that run these brands in the USA. Make your case! Then the only little detial after that is can you put together a compelling story/product mix/new idea to get a customer to drive 30 minutes south to come see you. Good luck. Brad
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