You’ve built a great business. You’re in the prime of your life. You don’t feel any pressure to start worrying about succession planning. What’s the hurry?
Unfortunately, tomorrow is prom...
Is your store’s profit in line with your expectations? Financial gurus Alan Friedman and Daniel Jobe of Friedman, Kannenberg & Co. make it their business to help music retailers plan ...
What happens when customers get behind on instrument rental payments or rental instruments aren’t returned? At 2015 Summer NAMM, Robin Sassi and Kimberly Deverell of San Diego Music Studi...
Is offering free shipping worth it? Consider the data. Recent research by Accent shows that 88 percent of consumers would be more likely to make a purchase from an online shop if it promi...
Is debt ever good for music retailers? It can be, according to financial gurus Alan Friedman and Daniel Jobe of Friedman, Kannenberg & Co. At the 2015 NAMM Show, they discussed the ap...
At the 2015 NAMM Show, former CPA Lori Supinie of Senseney Music shared her financial knowledge with music retailers eager for smart tips. As a small business owner herself with a passion...
Music industry veterans Bob Popyk of Music Trades magazine and Alan Friedman of Friedman, Kannenberg and Co. teamed up at the 2015 NAMM Show to talk with music retailers about a critical ...
At 2014 Summer NAMM, Robert Christie, owner of A & G Central Music, gave music retailers the straight skinny on repair shop profitability. He focused on the financial side of a succes...
The school year is drawing to a close. If you have kids, you’re probably planning for their summer activities. But have you looked further into the future—to the day when your kids say “g...
Whether the economy is strong or sluggish, it’s wise to keep a fiscal tight rein on your business. This will protect you during downturns and maximize your profitability in more stable ti...
1. Prepare a budget.
My favorite saying is “Hope is not a plan!” Just as you can’t build a house without a plan, you can’t build a profitable music retail operation without a roadmap. Lea...
Music retailers often spend time analyzing their retirement accounts but forget about the value of their own businesses. In many instances, this may be your largest retirement asset. And ...
