Key financial strategies from "40 Tips for Music Professionals 40 and Under"—a NAMM U session presented at The NAMM Show 2013. The session was hosted by CJ Averwater (pictured), Cris Behr...
If you own a music retail business, you may well follow a do-it-now philosophy—which is, of course, necessary to keep things running. Still, you also need to think about tomorrow, which m...
To attract customers, your store should be filled with cool products that customers want and need. But finding out what customers want can be daunting. Over the years, I've learned to ask...
In my opinion, the No. 1 problem most music retailers face is inventory. They have too many things that aren’t moving and not enough of the things that are. This can be fixed by avoiding ...
Do you know what departments or product categories are profitable at your store and, more importantly, what are not? Having a hunch doesn’t count. You need profit and loss statements at t...
It’s hard not to notice the daily fluctuations in gas prices. A recent news report estimated that the average American household spends about 4 percent of its annual income on gasoline. P...
As a music store owner, you can’t escape budgeting. At The NAMM Show, Lori Supinie of Senseney Music urged retailers to view their companies’ budgets in a new light—as a plan for profits....
During this NAMM U session, Alan Friedman of Friedman, Kannenberg and Co. revealed the keys to successful inventory management.
According to Friedman, inventory management begins with kno...
