Feedback Wanted: Dedicated Vinyl Store

[kaiseraramis]

Hello,

A friend of mine and myself and are considering opening (India's first?) dedicated Vinyl store.

I myself have been a big fan of the medium for many years and have always wondered if many people in India (specifically Mumbai) shared this interest.

The store would likely be somewhere in the 'middle' of Mumbai i.e. Mahim/Bandra side and would sell everything to do with Vinyl. LPs, Record Players, cleaning kits, singles. In addition maybe we would consider selling video games (to supplement income at the start).

Do you think there is a decent market for such a venture? Both of us have separate businesses so money (profits) would not be a massive concern. We're looking to expand on a hobby and bring Vinyl back to its rightful place, the top of the music format chain!!

To 'quantify' do you think there are 1000 people that would come to this store if it existed?

Your feedback would be greatly appreciated.

Best,

Kaiser.

p.s: Moderators would it be possible to put this thread under multiple sections? Would be very grateful.

 

[madbullram]

kaiser: Welcome to HFV. Introduce yourself and read the rules. Since this is not related to HiFi, I am moving it to lounge section where you can informally ask this question.

It wont be possible to post it in multiple section as its a commercial question that benefits you. Personally, I think its a nice idea but the commercial success is limited as there are very few people having a TT and are interested in Vinyls.

 

[kaiseraramis]

Sorry about that, hope everything is in order now.

 

[Hiten]

Hello,
A friend of mine and myself and are considering opening (India's first?) dedicated Vinyl store.

:yahoo: Thats good news. If you do, as a graphic designer I will do all things necessary for the store (advertising, logo, stationery, banners etc.designing) absolutely FREE.

but...

Do you think there is a decent market for such a venture?

No. If you are expecting sales to even breakeven by only vinyl and players sales. I think Bandra shop rent is around 50,000 to 60,000 with good amount of deposit. Also you would have to import vinyls with duty and profit added. But if you have means and if music and vinyl is your passion go for it. You can incorporate other business by keeping other formats CDs etc. and if possible niche or popular hi fi equipments. (As you said to supplement income at the start). My personal opinion is Bandra would be good location (Queen of the suburbs ). If you are looking for decent market rock records are favorites amongst listeners/collectors and also audiophile western classical vinyls. As there are no new production of Hindi, Marathi or Tamil records you will have to keep old stock, which will give you good sales. All the best. Do keep us informed... this is interesting.
Regards
Hiten

 

[Hiten]

Kaiser, when you start I would be interested in following vinyls

1) Huey Lewis and the news - Sports
2) Talking Heads - Speaking in tongues
3) Yaz/Yazoo - Upstairs at Eric's
4) George Michael - Listen without prejudice
5) ZZ Top - Eliminator

Hiten

 

[kaiseraramis]

Well I'm thinking of purchasing a shop in Mahim, I'm getting it at a very good price. It is near the Vijay Sales (opposite). The purchase of the shop itself is a long term purchase. I'm not looking to make tons of money just not lose any!!

At this point I'm pretty set on doing it. As you mentioned just Vinyl sales probably wouldn't cut it so I'd probably consider adding other stuff such as niche Hi-Fi equipment and maybe some other stuff.

 

[ukjeyaraj]

That's a nice idea kaiser.

As you have told definitely you need to have something more than vinyl to run the show. And Bandra is a very nice place for the business( its close to my place too ). You have already got your first wishlist from hiten.

Best wishes for your project to come out successfully.

 

[jls001]

An unique proposition, will be much loved by the (fortunate) few who love their vinyls. Not sure if you can make much money from vinyl per se, but that doesn't take away the fact that it's a much needed shop. Selling well-known brands of TT parts like cartridges, replacement stylus, cleaners, etc, and selling the same stuff online to non-Mumbai-ites would surely augment the cash flow. Plus as others already suggested - tons of audio CDs, preferably imported titles, and may be the mandatory video section, should augment things. And may be audio cables - good, affordable ones. I hardly see audio shops stocking cables, except a brand or two at the most per shop.

And seeing the way I go to all corners of Mumbai to get vinyls, I wouldn't care less if you're located in the middle of the Sanjay Gandhi National Park - I'd still come to buy stuff! And I like to think that this is a sentiment shared by many others here on the forum.

But the clincher would be to undercut the Landmarks, Rhythm Houses, Planet Ms of this world, and certainly Elusive Disc and their ilk. And an even better clincher would be to stock titles that large Indian music chains have only in their catalogues but don't really stock. I can already see the shop becoming a must-visit pilgrimage point for visiting Indian audiophiles!

All the best.
Joshua

 

[sbfx]

If you do it for the jazz then great! if your lucky you wont loose money but surely wont make much or any. Sorry for being discouraging but you would be lucky if you had a 100 clients in the 1st 6 months who kept returning.

Out of all the audiophiles I know in the city only 10% use vinyl, I love the format but wont take-off.

Satyam Bachani.

 

[entsurgeon]

Hi n welcome.
Purchase the mahim shop n rent it out. This will offset ur bandra rentals n few yrs down the line the appreciation will account for desired profits.
Rent a place in bandra n open a lounge. Give large discounts in daytime to attract clients with not so deep pockets.
needless to say, theme of lounge will b vinyls but hire a passionate knowledgaeble n caring guy to host the music who jockeys the music with emphasis on music that just arrests patrons into music. Have a showcase wid affordable products on display n push sales wid schemes( purchase a player n meals for 2 is free. One vinyl =5/10% off on bills subject to t&c to ensure vinyls arent bought to claim discounts .
when non-vinylheads go speechlessd by the amazing potentials vinyl has, new people will join the cult. Your lounge should burst the myth of general public that vinyls play it weepingly n needles get stuck every 10 seconds n that vinyls are better than cds... Space age ahead of mp3 n flacs.
Inaugerate the lounge wid page3 crowd to attract space in times of india etc.
A month down, get a leading columnist to write in sunday times et al about how vinyls are better and what u intend with this niche place.
make people believe that vinyl is a better n upmarket thing,Having vinyl rig is hip n your market takes off.
As about the existing vinylheads, we already source our vinyls(new releases) and ancillaries anyway. That market isnt exactly small and so is india. Still U wont survive unless u expand markets.
Also as an afterthought, I feel many teens n 20+ havent ever seen lps . They dont know pros nor the cons of lps. With right marketing strategy They would surely be attracted to this new stuff. If you place the bets timely, you might pioneer the trend here as youth takes to the format in droves.
Just dont tag the trend as revival or niche. Try to make it a new, hip thing and 'in' thing. Convert ordinary music lovers to the vinyl religion. It aint illegal yet.

 

[aum]

hello all,
I will stay in Mumbai for two days from January 15.
Please inform me when someone sells vinyl records. but only hindi/tamil movie lp and indian classical music.
I know some dealers in Mumbai. Please inform me if you know good vinyl dealer.

thank you for your time.

 

[kaiseraramis]

Hello,

First off, thank you for your feedback.

After careful consideration I have decided to go through with the store.

If anyone has suggestions as to how I can proceed let me know especially with regard to what kinds of records I should keep in the start.

 

[sidvee]

I have been looking to getting back into vinyl - and I would be very interested in Jazz as a genre.
Cheers
Sid

 

[Hiten]

Hello,

First off, thank you for your feedback.

After careful consideration I have decided to go through with the store.

If anyone has suggestions as to how I can proceed let me know especially with regard to what kinds of records I should keep in the start.

My personal opinion is rock is most preferred then Hindi movies and so on... like this....
1) Rock/Metal
2) Indian Movies Hindi
3) Indian Movies Tamil
4) Indian Movies Malayalam
5) Indian Classical
6) Western Classical
7) Jazz
8) Pop/Disco
Regards
Hiten

 

[kaiseraramis]

Sounds good.

I'm planning on creating a thread, where people can make a list of the records I must keep!

Right now I'm thinking 100 records that will be new and old, only english. Then slowly I will start looking for Hindi records in places like Chor Bazzar etc etc.

Plus we will be selling record players, record cleaning equipment
(solution and brushes).

Any other ideas?

 

[iaudio]

It would be even more popular if you streamlined online sales of vinyl. Brick and mortar store is good, but having an online store additionally would enable you to reach out to the customers in other parts of the country who are into vinyl!

 

[kaiseraramis]

For sure, the whole catalog will be available online.

 

[tek]

Sounds cool.. can I work there and be a music snob "Hi Fidelity" style?
Also, you should make it so that people can come in and sell their records to the store, and then you can have a used vinyl section. Same thing with video games. I for one have a huge bunch of games I don't want anymore that I would like to sell, or even buy some used games.
It should also be an open environment where people can go and listen to different music they woudln't normally would. Getting alternative type bands music in there would be an added bonus, it's always good to have something for everyone!

 

[kaiseraramis]

Great idea about the used games. Will consider setting up a system for that.

As for Vinyl, a lot of the collection will be used. A lot of the good stuff out there is not available new.

As for wanting to work there, I will be looking for 'music snobs'. Problem is there will be no pay. Sort of a work whenever you are free, would like to. In exchange you get access to what should be the best Vinyl collection in Mumbai and maybe even India. All you have to do in exchange is help n00bs and potential customers.

 

[abhijitnath]

Hi.

I personally would be interested! However, there are a couple of things that I feel are important.

The person manning the store must be passionate about what is being sold. In small, boutique operations like this, you can't have only a sales assistant who is being paid 10,000 bucks. The owner should be there, at least for some time everyday. The obvious example is Oceanic Music in Pune, or Fact & Fiction (the bookshop in Delhi), where the owner knows more than you in each genre and can make recommendations for you. To take the example of another store taking care of a niche product, visit Avenger Toys in Bandra, the specialty graphic novel & action figure store in Bandra. The owner is there every evening and will happily chat with you.
The other problem with a niche store is that stock doesn't revolve quickly enough. Since your aim would likely be to garner a loyal audience who will keep buying stuff from you, there needs to be enough stuff for him to re-buy next time he visits, in 15 days or a month. This is usually tough, especially if pretty much your entire stock is imported.
BTW, I'd like to help you out with stock layout ideas, things you should stock, etc. etc. for a few hours a week, if you're interested. If you want, we could meet as well. I used to be a consultant briefly and now work in private equity, and we did plenty of retail strategy workshops.:lol: