If I'm 16 and I want to open a record shop in the future, what can I do prepare now?

Basically, what are some things that I can do while I wait until I'm old enough to actually get things going? Specific ideas I should think of? Should I write anything down?

I'm planning on doing this after I've put away some money. I'm not gonna do this as a primary source of income, so stop telling me about the damn piracy.

Become business savvy. Get good grades, go to college. Maybe get a degree in Music History AND business administration... some schools even offer the business degree with an emphasis on entrepreneurship.

If you have a passion for music then that side will be covered by your drive. You need to have the practical skills to make a business work. Not to mention that a good job for some years along with some really skimpy living will be necessary if you are going to be raising the capital for the business yourself.

Maybe a part-time job in a music store right now can help.



To all these people telling you that you can't do this, don't listen. You can do what you want. You need to be smart and change the typical business model if is failing. Maybe a record/hookah lounge. Maybe record/restaurant... Hell, maybe you can have a record shop mixed with a internet cafe and help people with ipod/burning CDs...

The important thing is that you don't focus on one thing, go to college and be prepared for all facets of the business world.

by the time your old enough to record shop will be pointless everyone will be downloading like right now but its going to get even worse

you're 16, in a few weeks you'll want to do something different

you really think tha records are a good business with growth potential? I would think of something with a bit more potential if I were you.

Hope that you have another way to make money. I owned a record store here in AZ and I had to sell it off last year as I lost over 65% of my buisness to the internet. You have to be willing to loose money to be in the record store industry right now. I would look at something else you could sell.

Take some business courses. Accounting, etc. If you are 16 you are old enough, set up a online business selling T shirts, CD, etc. See if your parents or friends will help.

Keep in mind no one sells records anymore and soon CDs will be obsolete. Think towards the future.

save all the money u can.And think about credit nobody will lend money if u have no credit.Some times if u have to rent a building space they want a year up front it could cost 600.00 a month to 2000.00 a month rent is a down side but u can write it off.P.S put your money in a interest bearing saving account . that will help...

Start a detailed Business Plan

Education is every body's ticket to the future.
selling music in a store or renting or buying a video is over ,as a matter of facts the Internet is taking over the cable TV companies as a result the TV will go out of business to join the records,8 tracks,the tape cassette,the VCR & so forth... !