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 ...
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 ...
