An established network of music stores called Music Go Round focuses on purchasing, reselling, and exchanging used musical instruments and equipment. Since its establishment in 1986, the business has grown to include over 30 outlets all around the country. But whose property is Music Go Round really?
The truth is that Winmark Corporation, a franchise business that specializes in purchasing, selling, and leasing retail concepts, is the owner of Music Go Round. Other franchise brands owned by Winmark Corporation include Play It Again Sports, Plato’s Closet, and Once Upon a Child.
What may therefore be purchased at a music shop like Music Go Round? The answer is basically everything that has to do with music. Instruments like guitars, basses, drums, keyboards, brass, and woodwind instruments are frequently available in the store. Music Go Round additionally sells sheet music, guitar strings, drumsticks, recording gear, effects pedals, and amplifiers in addition to musical instruments.
The multi-billion dollar music instrument market is one that is expanding yearly. The market for musical instruments worldwide was estimated to be worth $7.6 billion in 2020, and it is anticipated to reach $9.5 billion by 2027. The popularity of music streaming services and the increase of independent performers who record and produce their own music are two reasons that have contributed to this growth.
What are the workings of a music store like Music Go Round then? The shop frequently purchases used instruments and equipment from private parties, refurbishes it, and then sells it again. Customers can frequently find high-quality instruments at a lower cost than purchasing them brand-new because of this. For consumers looking to update their equipment, Music Go Round also provides financing alternatives and trade-in programs.
Lastly, how is an instrument marketed? Focusing on the distinctive qualities of the instrument and how it might assist players create their desired sound is a common marketing tactic. The instrument’s skills can be demonstrated using social media sites like Instagram and YouTube. Additionally, word-of-mouth advertising can be successful in the music business because players frequently ask other musicians for equipment recommendations.
In conclusion, Winmark Corporation is the owner of the well-known chain of Music Go Round music stores. The store, which sells a variety of musical instruments and equipment, makes money by purchasing and reselling used gear. The marketing of musical instruments frequently emphasizes showing special qualities and making use of social media platforms. The music instrument business is a burgeoning, billion-dollar industry.