How (and Why) I Started a Thriving Vinyl Record Business | Talking About Records

The past 3 years have been an incredible journey for NTX. In this episode of Talking About Records we reflect on how (and why) it all got started, and the key milestones along the way. Take a trip down memory lane as we revisit the birth of a record store we never saw coming.
✶ Talking About Records is presented by NTX Vinyl, a local, independent, chain of community based record stores in the DFW area.
🛒 Shop online at: shop.ntxvinyl.com/
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➡️ / ntxvinyl
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🎵 Intro music credit: Bensound.com
#vinylcollector #vinylrecords #vinylcollection

[@Clipeuh]

great video, you definitely have the collector mindset i love your passion!

[@cbr9914]

this was a fantastic watch. thanks for this

[@NTXVinyl]

Thank you! Appreciate you watching

[@meetthemusicacappellatozyd6142]

Your videos are all very informative, but I am very appreciative of you sharing this video...Thanks!

[@NTXVinyl]

Thanks so much!

[@shashwatkumar7718]

Super grateful for you share such a barebones explanation of your experience. Sending a shit ton of vinyl love from India ❤️🥂

[@chrisward219]

Really enjoyed this video. I've been a member of the Now Spinning group since the beginning and have bought from your store several times since the pandemic. Cool to hear how you got started and just wanted to let you know that even from Indiana, NTX Vinyl is one of my favorite record stores. I have some family in that area, so hopefully ill get to visit in person someday. The online presence, videos, and Facebook page are all fantastic. I'll continue to support your store, please keep the cool content coming!

[@NTXVinyl]

Thanks Chris! Really appreciate the comment and your support 🤘🏻

[@s.t.e.r.e.o.]

This post is GOLD. Thank you sir

[@NTXVinyl]

Thanks much!

[@peterhawn6944]

Interesting video. Thanks for sharing your vinyl journey !

[@NTXVinyl]

Thanks for watching!

[@jerlg]

Cool story. Glad you are open!

[@NTXVinyl]

Thanks man!

[@brendonmiller8490]

Hey GI, loving your channel and you taking the time to share your passion for vinyl. Give us a heads up when you start to ship internationally, you would definitely have a market here in Australia. Always look forward to your latest post, keep up the great work!

[@NTXVinyl]

Thanks Brendon! Really appreciate it

[@damonproud5049]

Great watch, fascinating to see how it all started. I think a lot of us would love to do this but just don’t. Hats off to you for everything you have done so far.

[@NTXVinyl]

Thanks Damon!

[@janishall8062]

Thanks for sharing your story. We have a lot in common regarding opening a record business. I started my business just after you did in 2019. You have motivated me to explore other opportunities to grow my business. Again, thanks so much. 🙏🙏

[@NTXVinyl]

Awesome! Glad it was helpful

[@davidspriggs5024]

Wow! Terrific story. Thanks for sharing. There is a lot in your story that I can relate to. I started my first little used record store in 1976 and went through the process of opening accounts and selling new records in the store in the middle of 1977. Certainly a different era for vinyl. Anyhow, I now own two small shops much like yours. Unlike you, I have pretty much skipped doing online mail order vinyl. Even though that’s how I initially began selling records out of the back pages Goldmine magazine in 1975.

[@NTXVinyl]

Appreciate the comment David! Love hearing stories like these. Cheers

[@kevinj8236]

Awesome story. Congratulations on your success! If I still lived in southern Oklahoma I would have enjoyed visiting your store.

[@NTXVinyl]

Thanks Kevin! Appreciate you watching

[@C4lukin]

Hey guy. I am living in the Dallas area. I have watched dozens of your videos. I own 750 albums, and they are mostly post 1996 . 90% opened, but not played. Oh and it is totally your muse.

[@knockshinnoch1950]

This video popped up in my recommendations. WOW! So glad it did,! A fascinating story of how your love for vinyl became an expensive obsession and how you solved the problem of pouring all your disposable income into that hobby. Why not start selling records to pay for the hobby? RIGHT! Amazing how your business started out as that pop up garage sale and then grew organically without any real strategy or business plan or any retail experience! It's certainly not the textbook way to start a business and I'm certain most efforts that started this way would fall flat on their face at the first couple of hurdles. Your passion for the music is obviously what drives your success and of course dedicating time to learn the new skills necessary to make the next step in the process a success. Such a great inspirational story. I wish you lots of luck and hope you go from strength to strength in building your company.

[@NTXVinyl]

Thanks so much! Really appreciate you watching. Yeah nothing about this has been textbook, but in some odd way that’s why it’s working I think.

[@arzabael]

Anyone who “ramped up spending money on vinyl in the 2000s” deserves to run a thriving record store in 2024. Everyone. Me included, thought it was a joke. Now I couldn’t fathom a better souvenir or treasure to hunt in this world than physical media that I own of the music I love, on analog sound

[@MrGIJuu]

This was a fantastic watch. I’ve been doing my research as I am also looking to become an online record dealer and developing a KZbin channel. I have a deep passion for music and vinyl records. Your information has been helpful and your story has been inspirational so I immediately subscribed. Congratulations. I hope to reach a successful level as well.

[@NTXVinyl]

Awesome! Appreciate you watching and hope it helped. Also check out this video series if you haven’t already… kzbin.info/aero/PL8faDrV1lcp1x-2rGMt4a0DHBA1dxeYiC

[@74gwh]

Great story, like your videos here in the UK.

[@NTXVinyl]

Appreciate it!

[@chrisames2795]

Love the authentic transparent story. New order DJ

[@NTXVinyl]

Thanks Chris! Appreciate ya watching

[@JCW-jx6ld]

You are the best you tube record store owner hands down

[@NTXVinyl]

Wow. THANK YOU! 👊🏻

[@wyattfoley100]

Very Inspiring GI!!!!👍 I have recently started my record collection and loving it. Now with Whatnot, I have a great avenue to sell records I'm not interested in keeping.

[@jmfloyd23]

Great video GI! It’s good to know how each store came about in selling records.

[@NTXVinyl]

Glad you enjoyed it! Thanks Max

[@jmfloyd23]

@@NTXVinyl You’re welcome!

[@DJWerkz]

Absolutely love it! Huge well done. I have been collecting since ‘79 and a DJ/dealer since ‘81. Most of that has been in the UK but now live in Richmond Texas. Never had a physical store as all my sales were mail order through sites like GEMM (now deceased), Musicstack and of course Discogs. I have a very eclectic taste but am in the process of starting a live sales stream on WhatNot concentrating on electronic music and underground dance music.

[@NTXVinyl]

Thanks for watching!

[@agomodern]

WhatNot is getting pretty big now. Having to give your social security number is ridiculous so it turns me off from using them. You're making it tempting with that music selection though.

[@adrianquinton6414]

Hi there GI, really enjoy your content, you should make a video touring each of your physical locations, I'd like to see your setup at each spot, maybe a voice over after the fact. I bet you could do a great job!

[@NTXVinyl]

Fantastic idea we’ve been kicking around for a while! Just chatted with my videographer and we are putting plans in place!

[@seantetpon]

Great episode. I’m considering opening up a shop and it was helpful to hear your story. Was it difficult getting accounts with distributors?

[@NTXVinyl]

Great question! The only barrier to getting accounts with distributors is a Tax ID. Which, in Texas is about a $400 investment if I remember correctly. Once you have that you can pretty much order from any of them...but some do have minimums, etc.

[@arzabael]

Damn dude. In a different reality, in many many of the infinite alternate realities that are created and split off from every choice we make, there are so many realities where the conversation of the antique mall on that fateful night at dinner with your wife did not go the way it did in this reality, and you never started the store. Crazy

[@raggeragnar]

That is some cool box sets ! I would love to get the ”Almost famous” one , but unfortunately , it’s a US/Canada release and if ever available here in Sweden , I’ll estemate it will cost about $200-300 because there will only be a few imported. Sad but true.

[@whittierlibrarybookstore3708]

We get donations every once in a while, mostly instrumental and Montivoni :), but a twice a year pop up seems like a good idea. I noticed some records were sleeved, large display, and others not, orange crates. Was this a choice based on price? Also the ones without sleeves appear to have large stickers directly attached. Im assuming they peeled off easily. Would you let me know what company you used for those labels?

[@JakeLionsWorld]

Love the story and the honesty! I always assume most record store owners are collectors that want to take it to the next level. When you become established, you also become a hub for folks to consider when deciding to sell their own collections (always envious of the foothold places like Goodwill have gotten as just a place people bring everything for free!) I've always felt most intimidated by the legal business end of things - keeping record of sales and sales tax, submitting everything at the proper times. How do you incorporate that aspect of it in a way that doesn't feel stressful or overwhelming?

[@NTXVinyl]

Great question! And something I thought of mentioning but kinda forgot. Right as COVID was hitting, less than a year in I got a legit bookkeeper. An absolute life saver and must have for any business IMO. If I had to handle that portion I’d pull my hair out. She handles all of the bookkeeping, reporting, and most importantly the filing of taxes and sales taxes. Could not do it without her

[@gregcooke1946]

Great video once again GI, can I ask do you need to sit in your stall to serve people the records or does someone else do it for you?

[@NTXVinyl]

There are 300+ vendors inside the “marketplace” with cashiers at the front to check people out on behalf of all of them

[@MattCupan]

Been pondering idea of opening a record store. We moved into an apartment in downtown few years ago that's right above a storefront. It's on a really busy main Street. I work construction and for the last couple years the downstairs store has been nothing more than a 1200 sq ft storage area. I have all my records down there (couple thousand). Along with all my tools and materials that I store for working on customers. Business has been booming as far as me working on remodeling jobs the last couple years. But recently with all the inflation it's starting to slow down a little. I still buy records every week. There's a bunch that I have that I don't feel worthy of taking the time to list on discogs. So I was juggling the idea of opening up a store down there. Thing is where I'm at the city hall has a bunch of hoops you have to jump through as far as getting inspections from the fire department and police department. As well as paying for the business license and permit for signs. I did a little research and for me to open up a store would take 2 to 3 months and a little over $3,000. I don't want to sell my whole collection. But basically in order to cover overhead and then have some money left over to buy more inventory to keep the store running I would probably need to invest a couple thousand dollars in records that I'm just acquiring to sell. So the idea of opening the store is kind of sitting on the back burner for the last year or so. What I've been doing is making sales off of Craigslist posts and the occasional Discogs sale. Thing is I'm in my 40s now and I don't know how much longer I can work in the construction trade. So opening a record store was kind of my job outlook for in my older years. I know a few different record stores shop owners that I talk to you on the regular and they all tell me how tough it is to move a bunch of records and keep acquiring inventory and sometimes sitting on records for years before selling them.

[@NTXVinyl]

Hey Matt, thanks for the comment. I hear you on investment. The idea of having a dedicated, stand alone shop is certainly a big leap. We've actually chosen to avoid that for a number of the reasons you mention. Rent, insurance, utilities, employees, etc etc - all that adds up and can really take a toll especially when getting started. I always assumed the end game was to open up my own stand alone shop, but the further I've gotten into this I've realized it's not what I want. So, I've purposely created somewhat of a new/hybrid model with NTX. One that fits for my lifestyle, and family. Wish you the best of luck!

[@bradstanton1713]

Great video - thanks for posting this. What are your thoughts on the used CD market? I've been to one of your locations a year or so ago and I don't believe I saw any CD's at all. I was curious as to your thinking on choosing not to sell CD's. Thanks in advance for your insights on this!

[@NTXVinyl]

Great question. I get asked to buy CDs all the time. And have considered it. The reality is there just isn’t much profit in them (generalizing). Even great titles sell for $3/5/7. Which means unless I’m getting them for free there just isn’t really a way to make money. Obviously if you sell in volume it can work, but I’d rather spend my time/money on a format a really enjoy and believe in.

[@agomodern]

I buy and sell mid century modern furniture and know exactly what you went through. I have a booth in an antique mall (for about 6 years) and a couple months ago started renting a retail space by appointment only. Oddly enough, my business really started growing when everything shut down. I always sold online, but more online sales started happening and I was making more deliveries. I also dabble in records and would really like to get a lot more inventory in my antique booth, but finding records is hard to do. I could sell most of my collection but can't get myself to do it.

[@NTXVinyl]

Right on! Great to hear business is good!

[@agomodern]

@@NTXVinyl It's a bumpy road, but wouldn't trade it for a "real job".

[@joelemoine2187]

I love that shirt! You sell those?

[@NTXVinyl]

Sure do. Several design here… shop.ntxvinyl.com/Genre/695269

[@coltonsmith4395]

You mentioned in one of your other videos how people always ask you about your record dividers, just an idea but the cardboard ones on Amazon are around $25, maybe if you made a set or two and put them in your booths people might buy them, I know I would!!

[@NTXVinyl]

Not a bad idea at all!

[@DorianPaige00]

I'm strongly considering doing this as my main focus is I'd like to move on from what I'm doing professionally. There's a difference between me and you. I won't be keeping any as I'm a cd only collector with a near 0 wants list. I want to add cds as well but focus mainly on OG's when doing vinyl. I assume this is your only "job". Do you find new records have a high defect rate? Does selling at the antique mall shield you from returns?

[@NTXVinyl]

I keep very few LPs now. That was really just as I was starting out. What I'm after these days are very specific and/or rare items, which you don't typically find in larger collections. It is not my only job, but maybe someday it could be. Quality control with new LPs is certainly hit or miss, but it's a small percentage. We deal with handfuls of returns per month. It's not overwhelming. And no, I have to deal with returns and customer service just like any retail store. Thanks for watching!

[@tubinonyou]

I spy the 45rpm Diskbox for In Rainbows ❤️

[@NTXVinyl]

Indeed! Awesome album

[@jsinger6891]

For a pop up in your garage did you need insurance? Also, what payment methods did you accept at that time?

[@NTXVinyl]

I did not bother with insurance. Treated it no different than any other garage/yard sale. Luckily we do not have an HOA so it was't issue. And took all forms of payment - cash, credit, paypal, venmo, you name it.

[@MD-wk3gj]

I’m not interested in opening up a store or having a booth but the idea of a pop up store out of the garage every year or so to move extra albums sounds like fun time$

[@NTXVinyl]

For sure! Lotta work but can be really fun and rewarding.

[@C4lukin]

Pearl jam, benaroya.. New Adventures In Hi Fi original. Pinkerton original. None of my albums are dollar bin. Would love to hear from you.

[@NTXVinyl]

did you say Benaroya?!?!?! Get in touch! 😁 [e-mail] 214-305-6322‬

[@VinylPro]

"Vinyl Record Business" is upcoming now...

[@dawnpatrol700]

I'm so glad Discogs is cleaning up their listings. Now that it's chronological on pressings, it's much easier. I just wish they'd get rid of duplicate listings for things that people list, not realizing they are exactly the same as what's already there, just because they listed incomplete or whatever. People need to realize, you have to have something SUPER RARE, for it to not already be listed. I own 30thousand records and a few years back, I had a lot of stuff not listed, but at this point, only 1 out of 50 records is not already listed

[@NTXVinyl]

Right on! That’s a massive collection. Fun!

[@emancaindec9731]

Sorry to ask an odd question, can we please know your name (by curiousity)?

[@NTXVinyl]

G.I. Sanders

[@bigsweetc6]

Most important question. What percentage of retail do you offer for a collection. If you assume you can get $1000 for a collection do you offer half or 30/40 percent. …

[@NTXVinyl]

It all depends on the collection. But in general if they are quality titles and the condition is VG+ and up I am happy to pay around 50% of retail. I have much less overhead than traditional brick and mortar stores because of my unique model - so I can typically offer more.

[@yeahnah7220]

There's no definitive answer because there's too many variables. A highly curated collection of mint and in demand 1st pressings and rarities which will generally start at a minimum of $100ea, that will move quickly can demand 60%+. A $1000 collection made up of junk, could take literally years to sell, that's more of a liability and worth 1%, if that.

[@markjulianoriginalhooli2217]

I've got around 5k albums I've been collecting since around 1960 they're taking up too much space lately but damn I'm not giving them away and I ain't taking 25cents per album

[@NTXVinyl]

Don’t blame ya! I bet that’s an awesome collection

[@markjulianoriginalhooli2217]

@@NTXVinyl it is I have some rare disc's

[@PrismApplied]

Why do people say “vinyl” records? Are some records made from some other material?

[@beatznatwor]

I believe 78s are made with a different material than vinyl

[@vinylpenguin2651]

I'm going to guess you started a thriving business because starting a failing business sucks.

[@NTXVinyl]

Very insightful of you

[@iselect1012]

So it’s not a actual record shop it’s a booth at a antique/boutique mall’s. Ever think of opening a real record shop?

[@NTXVinyl]

Correct. 3 different local "booths" Of course have thought of opening a stand alone shop but it comes with tons of overhead and headaches I prefer to avoid. And I don't aspire to be tied to a desk for 10 hours a day 7 days a week. Which is why I've created a different model for NTX

[@BicycleJoeTomasello]

You started a record store is because it was the largest extension of your OCD. You probably don't even care that much about the music it's about possessing product.

[@NTXVinyl]

Ummmm…..ok dude.