Business Idea

Start A Vinyl Record Shop

About

Starting a vinyl record shop requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell , or selling online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$1.1B
starting costs
$24.5K
gross margin
43%
time to build
9 months

About

Starting a vinyl record shop requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell , or selling online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$1.1B
starting costs
$24.5K

 

gross margin
43%
time to build
9 months

Startup Costs

Min Startup Costs Max Startup Costs
Equipment & Supply Expenses $550 $6,500
Retail Business Expenses $0 $16,150
Inventory Expenses $350 $14,750
Advertising & Marketing Costs $75 $9,636
Software Expenses $0 $425
Website Costs $17 $275
Other Expenses $0 $300
Total Startup Costs $992 $48,036

Successful Businesses

Business URL Rank
deejay.de deejay.de #121,807
143VINYL™ 143vinyl.com #125,988
Music Direct musicdirect.com #241,614
eil.com eil.com #262,605
The Sound of Vinyl thesoundofvinyl.com #263,791
The Sound of Vinyl thesoundofvinyl.us #268,625
www.discrepancy-records.com.au discrepancy-records.com.au #375,236
Record Store hardwax.com #399,892
Indian Vinyl Records ngh.co.in #505,289
Home vintagevinyl.com #558,545
Vinyl Destination vinyldestination.com.au #575,417

Pros & Cons

Pros Description
Rewarding work Starting a vinyl record shop can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
Meaningful business connections You never know who you will meet as a vinyl record shop. This could be the start of an incredible business opportunity!
Daily physical activity Vinyl Record Shop's typically involve a much greater degree of movement than other lines of work. Most days, you will spend your day walking, running errands for your business, and performing a multitude of tasks. This can have a positive impact on energy levels and your overall health.
Amazing perks and discounts Working in the vinyl record shop comes with its perks! As a seller for these products/services, you typically also get to enjoy industry perks and discounts.
You are your own boss! With starting a vinyl record shop, you are the one to make decisions for almost all of the operations. Calling the shots can be empowering and liberating!
Local Community One of the best parts of starting a vinyl record shop is that you can develop a local following by selling your products at craft shows, farmers' markets, or even local storefront businesses! This gives you access to additional revenue streams and loyal customers.
Cons Description
Crowded Space Competition is high when it comes to your vinyl record shop, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Finding The Right Supplier Most businesses in this space go the supplier/manufacturer route, which isn't a bad thing! However, finding the right supplier can take a lot of time, energy and trial/error. If done properly, this process can save you months (if not years) of time and energy. More on this below in the "finding a supplier" section.
Motivation of employees If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.
Low margins The gross margins for your vinyl record shop are typically around 43%, which can make it more challenging to incur new expenses and maintain profitability.
High employee turnover In the vinyl record shop, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.
Taxes As a vinyl record shop, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.