How to Open a Record Store (Part One) Concept, Testing, and Branding | Talking About Records

It seems easy enough, right? Well, we get questions from people on a weekly basis about how NTX Vinyl was started, and what advice we would give to aspiring shop owners. So, we decided to create an entire video series that outlines the best practices, tips, and tricks for those looking to get into the business. In part one, we discuss the development of a concept and brand for your new record store!
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[@gabergabe223]

This series is what I need to see. Thank you for taking the time to make this. My father was a collector until he passed in 2019. He DJ’d all through the disco era and I dreamt of carrying the torch as early as middle school. My lifestyle lead me down a different road halfway through high school. I have his entire legacy now. About 20,000 12” cataloged. I haven’t got a count on all the 45s and other formats. Reel to reels even. I’m in BROOKLYN, NY and want to open a store. I won’t sell in bulk. So I’m paying attention. Again, thank you for making these.

[@NTXVinyl]

WOW, 20,000 is a ton! That's amazing to hear. Hope my POV helps get you started.

[@gabergabe223]

@@NTXVinyl it’s a lot. Mostly well taken care of. It’s daunting. It’s an albatross, lead me somewhere, and now too much for me to carry. I’ll be in touch on IG.

[@ErinDeNis]

Why did my brain randomly come up with idea to own a record store just now? Your video was the first video I chose in my search. I’m so glad I found your channel.

[@agomodern]

1st hand experience is all you have to bring to the table? Well, that's the most important thing there is. Book knowledge is nothing compared to actual experience like you have. For me, branding is all about image. Just like an actor, their whole persona is centered around branding themselves and creating a unique image. Most important thing about branding is that it has to fit your personality. I'm a business owner as well and I love talking business like this. Looking forward to your series.

[@NTXVinyl]

Well said! Really appreciate the feedback...excited to shoot the next one.

[@kaymuk8553]

My idea is going to be a selling new/old colour vinyl only. So seeing this video is very cool

[@behunt80]

Can’t tell you how much I appreciate you taking the time to talk through this. And as a bonus, it’s just straight forward information, none of the “hey, buy this book for all the details” crap. As someone that has been in phase 1 for a while now, and headed quickly towards your next stage, this is a very timely video! Thanks for your love of records and the record community.

[@NTXVinyl]

Awesome Brian! Appreciate the comment and hope the series will be a useful tool for you and many others

[@TheEzrider403]

Great Information . I have sold records for years on the internet and have always had the dream to have a brick and mortar store . I am literally in the process of doing this now..... I am looking forward to the rest of this series ! Thanks Man !

[@NTXVinyl]

Awesome! Let me know how I can help, and thanks for watching!

[@41nobs]

Just found this and it’s certainly helping me plan my store. Looking forward to the return of the series.

[@MattCupan]

Opening a record store is easy. Keeping one open is hard. Store rent/lease is crazy inflated. Overhead. Sitting around a store. Cataloging, organizing. And then the constant hunt for collections. Just stick to online sales. Unless you're in a big city. Tons of college kids. Have location with a ton of traffic. And have a huge disposable income.

[@2B903]

I do social media videos on vinyl shops I’m going to come in and do a video on one of your shops soon!:)

[@NTXVinyl]

Awesome thank you!

[@Restringlo]

This was very helpful, in a stringed instrument store, I love records I collect. I had a friend who had a record store, and he lost it when his land lord passed. Now we have a little pop up room for his records and it fits great with my guitars 🎸❤️ appreciate you taking the time to make this video!

[@NTXVinyl]

My pleasure!

[@jacknjill3000]

Great video and very helpful! I’m older and had a successful dance/electronica/house music vinyl store in San Francisco from 96 to 2003. At the time it reached to be the top dj record store in the USA. After o closed, I held on to my inventory and large collection for about 5 years and around 2003 to 08 seemed no one was interested in vinyl and everyone, especially djs all went digital. So it seem what I had (inventory) had no value, but had tremendous value for me bc I’ve been collecting since 85 and consider myself one of the first to dig at records stores and flea markets (crate diggers). So for about 20 years, I didn’t think about getting back into the record business or keep up with new music and before was considered the music guru for various reasons. So I didn’t realize record stores and vinyl was back and usually big major cities like SF always seem to have plenty but there was a dry spell for about 2 decades and noticed it’s coming back and strong.

[@rivpirate]

First I saw Anthem of the Sun then I saw the shirt...subscribe👍

[@vintagemostwanted4557]

This video could not have come at better time. I am in the planning process myself. Looking forward to the next video. I really appreciate you taking the time to do this series! Thank you 🙏🏼

[@NTXVinyl]

Right on! Hopefully the series will be helpful

[@kenjenkins922]

For me, I think the first step would have to be putting together a collection. I’ve only recently been bitten by the vinyl bug and have about fifty records. Love the series! Keep ‘em coming… cheers

[@sophocles1198]

First step in opening a record store is getting some records :)

[@ethanprice5972]

So excited for this series! I have always wanted to open my own shop here locally. Back at the end of 2019 we had a local shop open but is now closing for good at the end of this year. While that's super disappointing and a bit discouraging, I feel like along the way, while I supported the shop over the past 3 years, there were many things I picked up that I would not do the same. Almost like someone else tested the market for me lol Anyways, looking forward to the next video on location as to your thoughts! PS - i live about 45 min from the closest other record shop.

[@NTXVinyl]

Right on Ethan! Stay tuned for part two next week.

[@andygoldblatt]

Really cool of you to share your knowledge and experiences. I think with NTX you've carved out a niche in the local scene by having a reliably well curated selection of used inventory and aleays keeping it fresh. My days of endlessly digging through rows of dusty bins are getting fewer and fewer:) Thanks man - Andy

[@NTXVinyl]

Thank you Andy! Really appreciate it

[@studiolonepine]

This is really awesome. I'm looking to open a record store in my town and this has given me a lot to think about.

[@NTXVinyl]

Awesome! Thanks for watching.

[@broeheemed32]

There's nothing you could carry in a physical store that couldn't be bought online for cheaper. It costs a massive amount of money to run any kind of store, between the expensive cost to lease the store itself, employees wages, insurance, stupid government permits and regulatory fees, theft loss, stocking an inventory of products that might not ever sell, utilities to heat and cool, security services. I would think seriously about how much money you want to throw away.... I'm not trying to piss on your parade, but I've known more than one person that invested in a business and worked it 80 hours a week just to have it collapse and leave them in debt.

[@NTXVinyl]

​@@broeheemed32 "There's nothing you could carry in a physical store that couldn't be bought online for cheaper. " - That's not a true statement, especially when you factor in shipping. Plus, many people much prefer to buy records in person to be able to inspect condition themselves. As for the upfront costs and overhead. Correct...no different than any other business. You have to know your market and buyer well, understand how to acquire and move inventory quickly, all while keeping costs down. It's not easy, but it is possible - otherwise there would be no record stores at all, but that's not the case. In the Dallas metroplex there are 20+ stores.

[@studiolonepine]

@@broeheemed32 I live in Germany and we don't have that many record stores anymore. There are plenty of things we could sell that would be easier and potentially good value for money for local record collectors who want to save on postage. i.e. rare records from the US which I already sell at record fairs and has a big market in Europe. For me the experience of buying online is not as exciting as going to a bricks and mortar store and opening a record store is like any other business, you have to evaluate all the risks and costs involved to see if you can support it long term. I personally know a few people who opened their own record stores and/or sell to a niche market and they never looked back on making that decision.

[@chadwicksmith6201]

Instant sub. Thanks for the info.

[@NTXVinyl]

Welcome!

[@diglife]

Thanks for the info. Is there a fast way to load things like images of album covers when loading your website? My website has place to upload csvs but the album cover images are another story!

[@Mr.IvanMiller]

Question for you. I have a pretty decent collection of around 4k used records. Obviously, I will need to replenish my inventory as I make sales. What is the best way to do that? How do I buy in bulk and where? Do I go to estate sales or is there a better route for replenishing my inventory?

[@NTXVinyl]

Great question! See here: kzbin.info/www/bejne/qqfHdIJtgJ2sZtk

[@00stangdriver]

when you mentioned pop up locations to test your concept in your local area, at that time, where did you get your inventory? Was it your personal collection. Great video by the way.

[@NTXVinyl]

No, have never sold my personal collection. I started buying collections (small and medium) 6-12 months before I decided to stage the event. Priced records for about 3 months straight for it.

[@00stangdriver]

@@NTXVinyl thank you!

[@forfashire]

@@NTXVinyl where do you usually find collections for sale?

[@hrmsmk]

I went by your online shop. nothing Interesting. I will keep checking however

[@NTXVinyl]

Nothing? 40K LPs in stock 🤷‍♂️

[@dmomcilovic9185]

Margins are piss poor. Why bother

[@NTXVinyl]

I’ve been in business 4 years and can’t even keep up with the thriving demand. That’s why.