How To Sell Guitars – Make Money Selling Guitars and Musical Equipment

Are you looking to become a guitar reseller or open a guitar store?

I can tell you from experience that selling guitars is a fun and rewarding business to pursue. I love meeting musicians, helping to spread the music, and frankly, I just love being around guitars. Here are a few things to keep in mind if you’re learning how to sell guitars:

Business Licensing/Taxes

The first thing to keep in mind when selling anything in large quantities is business licensing and taxes. First, make sure you keep a record of everything you’ve sold. When it comes time to pay taxes, you’ll need to know the exact nature of the business you’ve done. One of the biggest worries with a start-up reselling business is getting audited by the IRS. In the event of an audit, the more information you can provide the better. As you begin to make a modest profit from reselling, make sure to set money aside for taxes. In many states, the buyer is required to pay sales tax for each transaction, and it’s the seller’s responsibility to set this money aside at the time of the transaction.

You will also need to obtain a business license. These are easy to acquire in most states for a small fee. In many states, a reseller business license will come with a Reseller Permit, with which one is able to purchase in bulk without having to pay a state sales tax. If you start selling a lot of guitars, such as more than 5 per month, then you should seriously consider obtaining a business license. Along with helping your business to be more accountable, it often earns you special rights and tax breaks that will help your business grow.

Finding Your Niche

There are many ways to sell guitars. Websites like Craigslist and eBay are great places to sell guitars, but they often have plenty of competition. Depending on where you’re located, Craigslist might be a great way to spread the word locally. There are many people who are good at repairing, modifying, or parting out guitars (taking them apart and selling the parts separately). Your “niche” will depend partially on your location, but mainly it will depend on your passion. If you love talking to people in a private setting, Craigslist might be your best bet. If you love tinkering with and parting out guitars, you could consider selling parts on eBay, or to a local music shop. If you love the idea of opening up a storefront, or augmenting one you may already own with some quality guitars, maybe you’re meant to be a guitar salesman. If you don’t know which method will work best for you, it can never hurt to try things out. You’ll never know if you don’t try!

Opening a Guitar Store

Opening a guitar store can be a huge challenge, but it can also be very rewarding. With the recent interest in the internet and online retail, many guitar shops are going out of business. Guitar Center and Musician’s Friend, two of the top guitar stores in the country, have grown so large that it’s often nearly impossible to compete with them directly. That doesn’t mean that it’s not possible. When opening a guitar store, make sure you’re offering a completely unique service. Whether your store has the perfect location, selection, staff, or pricing, it’s imperative that your store has the perfect something. We are living in troubling economic times, but that doesn’t mean that stores are closing for no reason. It simply means that, as the times change and technology evolves, so does the public demand for services. One must look at their business and be able to clearly see the areas in which they excel. Find out what makes (or could make) your guitar store great, and keep it up. Publicize your specialty, let everyone know what it is you do and why you’re the best for them.

Be Creative

As I said before, there are many ways to sell guitars. One of the best things you can do when creating your guitar business is to think outside the box and be creative. With enough creativity, you can create a whole new way to do business and thus create a whole new market. Regardless of the state of the economy, consumers will always pay for something great, something they believe in. Your customers are people, and they get excited about new things. People love having fun, and they love watching things improve and being a part of the future. It’s important to realize that your ideal guitar business model might be something that’s never been done before, but also something that there’s a huge demand for. Write a list of all the ways that you could sell guitars, then keep going, keep writing. No idea is too crazy. Creative businesses are the way of the future, and there’s nothing stopping you from creating the top guitar business in the world.

Shop for Discount/Wholesale Guitars in Bulk

You may have a pretty good idea of what your guitar business will look like and how you will start it up. Now you need the product, and you need it at the right price. How do the big guitar companies do it? Sometimes they have invested millions of dollars in their relationships with major manufacturers, ensuring that they get the best exclusive deal on all the goods. Most of the time, they just have a smart business model. It’s easy to get tons of musical equipment to sell, you just have to follow some strict rules, and pay top dollar. Many stores sell new, name brand equipment, and make 0% profit. The new equipment is just a way to get people in the door, and all of the profit is made from selling used equipment. This is just an example, but you should keep in mind that some products are made to attract customers, while others are made to give you the profits you’re looking for.

Working With Manufacturers

If you plan on selling refurbished guitars, sometimes it’s a great idea to supplement your inventory with new guitars directly from the manufacturers. Sometimes these guitars can be very difficult to acquire, and even more difficult to make a profit from, but they can definitely help get you some foot traffic (or internet traffic). Most manufacturers are more than willing to let you sell their products, assuming you follow their strict guidelines. For example, most will require you to have a storefront (which can’t be too close to another authorized dealer), sell a certain amount of guitars per month, purchase a large amount of their products up front (often you will not be able to choose which guitars to purchase), and charge no less than the price they determine. For a small business, it can be rough. But if you know what you’re getting into, working with manufacturers can be a great way to increase your business. If someone buys a new guitar from you, they’re more likely to come back for another. If someone walks in your door to buy a new guitar, they might be open to getting a refurbished one instead. The more business the better, as long as you can meet all the requirements.

How Persistence Is A Primary Contributing Factor To Success In Your Online Business

Persistence is a prerequisite to success in online business. There is no way you can make money online if you are not persistent. Training yourself to become persistent, despite all eventualities, is one important factor that you need to learn right from the day you venture into online business. It should be understood right from the start that making money online takes time. Do not be fooled by those scams who promise you heaven and who make you think that you can make thousands of dollars overnight. To benefit from online business, it’s really dependent upon several factors among which include skill, knowledge, effort, time, will-power and persistence.

I have observed that most people are longing to earn money online. This is evident in the number of people that sign up in some of the affiliate programs I promote. However, when you consider those who persist and become serious online marketers, you get tightlipped. I believe it’s not only with me. Even other marketers have a similar problem. Do you know why? It’s partly because many people join hoping to make quick money without necessarily knowing what it takes to succeed in online business.

Persistence is an unknown secret to most would-be successful people in online business. But it’s what has turned many online marketers into millionaires. Of course there are other contributing factors, but persistence plays a pivotal role and is a key ingredient to success in your business. Hard work and persistence can believably help you to turn your desires and goals into their monetary value.

Actually there is no way you can accumulate wealth online without putting your energy to work persistently and determinedly on your business. To make money and be counted among the successful online marketers, you must work consistently and smartly. Know that success does not come so easily. There are many obstacles along the road that can ruin your mental and physical power to work on your business. It’s only those that have the characteristic of persistence that win.

Robert Schuller once said that “When the journey gets tough as it sometimes will, rest if you should but don’t quit”. Yes, that’s what separates winners from losers and successful people from ordinary people. Disappointingly, most would-be successful online marketers pull out easily when faced with a short-term defeat or disappointment. My simple advice is that don’t be like them. Learn to motivate yourself, to like what you do and to pursue it to the end. Learn to think persistence, you will win!

To emphasize further my point, let me share with you this example of one of my colleagues who was tired of being employed. One day, he resigned unexpectedly from his well-paying job. His employers were so disappointed and surprised to lose such a resourceful and hardworking man. His family members too, especially his spouse, were so concerned with how he would earn a living for a family of 4 grown-up children, all in advanced grades. But for him, enough was enough. He preferred being self-employed. He had developed a passion for writing books on Self-Discovery.

Upon his resignation, he was given his terminal benefits, which he invested in publishing his books. However, the business became so difficult for him and could not make any reasonable amount of money to support his family as expected. Do you know why? He lacked marketing skills. But he could not go back to his former job. He had spent all his terminal benefits on the business and it wasn’t giving him returns, yet he had people to look after. He lost weight day after day but he persisted and this made him think, rethink and to seek support from other people.

Despite all the disappointments he encountered, he continued to work on his business. He got to learn how to market his products. He later discovered that he could also organize workshops, seminars, trainings and promotional talks in his field of expertise to earn additional income. Not only that he came up with an idea of selling advertising space in his books and many business people pay to have their businesses advertised. Do you see how problems can be turned into great opportunities? Do you see how persistence pays?

Currently, he has a well established business and is a well known expert of self-discovery. He earns his living entirely from his business. He is a self-made motivational speaker, writer, publisher and consultant. The secrets behind his success are majorly will-power, determination and persistence.

Lack of persistence is one of the primary causes of failure in online business. It’s a weakness common to the majority of people. My advice to you is that you must overcome this weakness to make money online. You must have the will-power to work on your business consistently. You must keep your desire to make money online burning all the time and right from day one. Think persistence, persistence, persistence!

The weaker your desires are, the weaker the results. The stronger your desire to make money online is, the stronger the results. Did you know that it’s a big amount of fire which makes a big amount of heat? My friend, keep your desire strong and burning! It’s a key contributing factor to persistence!

People who make money online are those whose minds are prepared to attract wealth. If you find yourself weak in persistence, the time is now to acquire this important characteristic of successful entrepreneurs. In my forthcoming articles, I would like to further share with you some important tips on how to train yourself to become persistent and how to assess your persistence levels to achieve what you want in life.

Your Winning Strategy for Using Social Media for Your Business

Using social media to market your business is a tricky journey. With so many options and so many wrong ways to do it, many business owners spend lots and lots of time (and money) trying to figure out this whole new world of building customer relationships and loyalty. Many times all of the time and energy barely pays off with a splash of difference.

It’s time to get focused. Here is your winning social media marketing strategy for your business – any business, in fact.

First, you need to determine which web sites are right for your business. Some businesses may utilize one or two options, while others may benefit from many more. You don’t necessarily need to know a lot about each site, but rather what people use each site for. Users of Facebook, Twitter, Google+, Linked-In, YouTube and the others spend time at the sites for different reasons. It’s vital that you do research on why people use these sites and then if it makes sense to spend time marketing your business there.

Then you need to go on a field trip, with the purpose of watching and observing (not yet participating). The good news is that your field trip will cost you no money, but rather an investment of your time. And it can be done from home, in your pajamas. All of your options are available 24 hours a day, 7 days a week, 365 days a year. Since most business owners and managers have little time during business hours to spend on social media marketing, much can be done at other times. Your field trip will consist of going to the sites that you’re considering using for your business and observe how the people engage and communicate with one another. Don’t participate just yet, but rather just observe how more veteran users are behaving (posting, tweeting, submitting, updating).

Next, and this is a very, very important part of your strategy, is to understand the difference between “push” marketing and “pull” marketing. Once you decide to take your business online, you must treat your customers and potential customers with the highest respect and consideration. Your marketing efforts online will not be successful if you plan to just promote your business or your product in “old-school” marketing ways like couponing, discounts and specials (“push” marketing). You’ll get much more positive results if you use social media to build long term relationships with your customers, to build their trust, and to provide them with a unique and cutting edge way of communicating with you (“pull” marketing).

Now, you need to learn the facts. Lots of data is available on the habits of social media users. Sure, there are hundreds of millions of users. But when is the best time to communicate with your target customers and how? Are some days better than others to post and tweet? Can you post and tweet too little or too much? Should you use just text or pictures and videos, as well? Getting answers to these questions and more will save you lots of time and energy, and increase your chances of having a successful strategy.

Finally, it’s time to dive in, but do so smartly. When registering for social media sites, be mindful of the branding of your business. Go to the help section of the sites to find out what’s available for businesses (for instance, at Facebook and Google+, there are personal profiles and business profiles, but at Twitter and Linked-In, that’s not the case). Make sure your social media “footprint” is in concert with the spirit and integrity of your brand, including your logo, tag line, colors, texture and tone. Be courteous, inviting and accessible. Don’t look to sell your product or service to people (the “push”), but rather provide them with tips and information about your product and service (the “pull”). And be ready to interact with people, hopefully responding to questions and requests for information quickly and efficiently.