Views : 21,354
Genre: Music
Date of upload: Dec 6, 2023 ^^
Rating : 4.959 (6/580 LTDR)
RYD date created : 2024-05-11T20:41:34.889928Z
See in json
Top Comments of this video!! :3
Newish record store owner. Can relate to most of these, except holds are rarely a problem so we still do them. We’ve brought in a lot of new people by participating in neighborhood business association events, like First Thursday type things. We advertise with the high schools and colleges and donate a lot of gift certificates to silent auctions, etc.
1 |
I was deployed to Germany for a couple months and volunteered what off-time I had at a used bookshop on base and they had a similar issue regarding holds. People would find out about a certain classic (the shop owner had a passion for going to the UK to dig through estate sales, shop closings, charity shops, etc and buying nice classics to bring back to her shop and sell at really good prices because she wanted to get more people into collecting vintage books) and ask them to set it aside and a lot of times they wound up never coming in.
But to the owner, that was money that could have been made sooner to help pay the rent.
So her solution was to establish a hold period of… 5 days? 7 days? Not a long period of time but probably enough time to give the person a window to come into the shop. Life gets busy, especially for military folks, and she recognized that.
So she set aside a shelf behind the counter and would write on a slip of paper the name and date when the hold would expire. That way, if a volunteer was running the register, they could verify that the right person was getting the books OR they would know it’s time to put the books back out on the shelves.
Some exceptions applied but it wasn’t just for regulars, you know? She had to be super careful about when to allow longer holds and it usually had to do with how much she liked the person.
For instance, she’d hold all sorts of classics for a mother/daughter duo who were building libraries in tandem for something like a month (or two!) so they could come in at their leisure and examine the books in person.
I’d say about half of the books went back on the shelves so it’s not like the owner was giving these two special consideration because she knew they would drop a lot of money on them.
I wouldn’t do that if I ran the shop but maybe something like a regular who’s deployed would make sense. Deploying sucks and maybe them looking forward to coming home to buy these books is what helps get them through it all.
But even then, they’d need to be a staunch regular, you know?
But I digress. A strong hold policy with definite deadlines and the statement that when that deadline expires, it WILL go out on the floor, and a little organization to make seeing what is new or due would probably help increase loyalty from the customers, frequency of traffic, and overall satisfaction.
Hell, you might even want to consider displaying the records on hold to the rest of the shop with the deadline visible to drum up excitement in case the holder doesn’t come in. As a kid, I would definitely go to pawn shops and see pedals or guitars and know when they would be relinquished by the owner and be able to be bought by me and it made me frequent the shops even more.
I can only imagine this would be increased in a record shop because the holder has already singled something out as being at least cool to them. Maybe it would be cool to me, too. I’d definitely look at it at least!
1 |
Nobody gets rich owning a record store.. Glad to see you’re still passionate about all this. I’ve been burnt out for years, and I finally liquidated inventory last week. Now I’m terminating the LLC, and washing my hands of this. I’ve got a great system and collection, but it came with some heavy costs.
1 |
Quick comment about the hold policy. My local go-to shop will hold for two weeks and because it's a 45-60 minute drive downtown, I often opt to have them ship it (free shipping after a certain threshold). Occasionally I can head down and pick them up in person. Only one time I had forgotten and at the end of the two weeks, I received an email reminder and paid immediately. I don't know how much of an issue they have overall, but I have always found this arrangement very functional; a nice compromise between the hold indefinitely, versus no hold...with the understanding that after two weeks, the record is no longer held and gets put back into the bins for sale. I enjoyed the video and its insights. Cheers!
4 |
This is an idea I see at my favorite local record store which may help you regarding your pricing issues. I know this doesn't help the price info hunt on Discogs you were talking about but this helps customers, your staff and you after that album is in your bins. So my local record guy uses medium sized information stickers that are placed on the outer poly sleeves he uses. The stickers have his logo and spaces with lines stating pressing year, quality (vg, vg+ nm) region of pressing, artists name, then a large space to write any special info pretaining to that re ord. I leave those stickers on for my own recall etc. Hope that helps.
5 |
I sell records at fairs in the UK and would love to have a store, however the biggest problems we have are high rents/taxes, high stock costs and generally people expecting (what they think are )Amazon prices whereby you’d make next to nothing. You’d really need to sell in volume to make it worthwhile unless you could sell rarer vinyl at higher prices. Your store looks great, keep it going! 😬👍❤️
4 |
I've got a strict 1 week hold no longer than that you do have ro learn the hard way though 😂
As for what you can do to get the word out more. Maybe sponsor some local events to do with music or even do some pop ups and markets where you can bring some great records and pass out business cards etc. Also can't go wrong with a little guerilla advertising. Buy big stickers and put them in places where music lovers will be. Just some ideas you may even be doin em already but they weren't mentioned so I figured I'd toss em out. Good luck man were all in this together 🤘
3 |
I just discovered your channel and I enjoy your videos -- especially your engagement with the medium (LPs or YouTube? Both!). Your store stories bring me back to my days as a small business proprietor in Seattle in the 1980s -- but it wasn't a record store, it was a little single-screen independent movie theater in Seattle's Pike Place Market (which is still there, but doesn't show movies). We played mostly indie and foreign films -- and really scored with the months-long first-run Seattle engagement of "Stop Making Sense" (in amazing then-state-of-the-art Dolby surround) in 1984. I'm also a lifelong record collector -- still working on my collection after impulsively selling most of my LPs in 1992, when they were worth practically nothing (I sold them to a guy who was opening a record store when I was about to leave town for an extended period and had no place to store them). I've been rebuilding and expanding my collection ever since because I missed my records so much during the CD era (roughly mid-'80s to mid-aughts).
Anyway, FWIW: We used to have a guy who put up posters for our theater -- and whatever movie we were showing -- around town in places we thought might appeal to our regulars: other indie theaters we were friendly with, of course, but also in bookstores, cafes, bars, music venues (the Showbox was just across the street), thrift/vintage shops, galleries, audio gear retailers, other record shops, and so on. We'd also put up their posters at our place when that seemed like it might be a mutually helpful exchange. Your store has a nice logo, so just getting a poster that reflects an image of your store around town might help build awareness, especially since you're in a location where you don't get a lot of walk-ins. Maybe ask some of your customers what other places they like to frequent.
Just an idea I hope you'll find useful. Next time I'm in Portland (and that does happen occasionally since I have several friends in the area), I'll try to seek out your store...
1 |
@adamkinowski2354
5 months ago
This video sums up the saying "a small business owner/entrepreneur will work 80 hours a week just so they dont have to work 40 hours a week". Glad you found your calling in life Matt- keep grinding
19 |