Make Some Noise Instrument Store

1. Make Some Noise Instrument Store Owner: Lillie Caskey

2. Mission Statement • At, Make Some Noise Instrument store, we have a devotion to music, and we want our customers to have that same devotion. To accomplish this, we give our customers the best experience possible. From key boards, to kick drums, we will do everything to get you that special instrument you are looking for. Make Some Noise Instrument store will buy, sell, and consign instruments. No instrument will be sold in our store unless it meets the standards we hold. Whenever you walk through the door, there will always be happy and helpful employee eager to help.

3. General Summary • Make Some Noise Instrument Store, will be a music store that specializes in musical instruments. To keep the start up costs and general costs to a minimum, I will start off with consignment instead of buying new instruments. Consignment is when a person can bring in an old instrument to be sold. The instrument will be displayed in the store. When sold, a portion of the profits will go to the previous owner, and the rest will go to the store.

4. Target Market • People between the ages of 15 and 39. • 15 is the age in which many people find an interest in music, or learning a musical instrument. • People who are interested in learning more about instruments, and learning how to play them. • Beginning players • People who live in Owego, and towns in around Owego.

5. Market Needs • A musician’s needs typically extend farther than just a musical instrument. Their needs also consist of: • A quality product that lasts as long as they play • A lesson for when they are just beginners • Employees who can answer questions that come up about playing, our products, or about their instrument.

6. Goals • Short-term • Have one practice/lesson room set up • Develop a strong customer base • Pay off start up costs • Medium-term • Have two employees • Pay off 90% of debts • Have 42% market share • Buy used instruments by end of third year • Long-term • Have three employees • All debts paid off • Have three practice/lesson rooms set up • Buy some new instruments by end of fifth year • Have a 50% market share

7. Direct Competition • Our main competition is located in the Vestal and Johnson city area. The biggest competition is Guitar Center, a chain of instrument franchises. This is my main competition due to the company has larger access to a wider variety of instruments, and people who can market their products to bring in the most customers.

8. Competitive Edge • What give Make Some Noise Instrument Store a competitive edge over Guitar Center, is that we are more conveniently located for people living in Owego and surrounding towns. Also, we will do everything in our ability to find you that special instrument. Many instrument stores today specialize in one instrument, or group of instruments. At Make Some Noise Instrument Store, we have a wide variety of instruments to choose from.

9. Location • Make Some Noise Instrument Store is located in Owego New York for the following reasons: • Owego currently does not have any musical instrument stores located there, giving us the ability to establish a loyal customer base. • It is a closer location for people living in Owego an surrounding areas so we can attract our competition’s customers.

10. Start Up Summary • The startup costs will include the store’s inventory, the insurance, any repairs needed to be made to the store, and anything needed to get the store running, ex- computer, cash register, phone, and internet. • We will receive funding for our business through loans from the bank, and money saved in the bank.

11. Marketing Strategy • Showing potential customers our competition’s weaknesses to convince potential customers to visit our store instead. • Meet the needs of all our customers • Offer customers music lessons • Always stand out from the competition • Make the customers feel welcome and comfortable in our store

12. Pricing Strategy • All products are cost-based • 25% mark up- prices are reasonable, yet gives us an ability to make a profit • Prices of consigned instruments are based on the age and quality of the instrument.

13. Promotion Strategy • To first get the Make Some Noise name out to the public there will be a concert in the park. • The band will be a band that is popular among our target market. This will attract our target market’s attention and make our business known to them. • Year-round to keep the name prominent, we will hand out guitar picks with the company name on it with every purchase • At some points in the year, we will hand out a special guitar pick that the customers can bring back to get thirty percent off their purchase.

14. Positioning Strategy • To create loyal customers, we want to be a store that is very comfortable and welcoming to all types of musicians. • We want our customers to come in through the door and know that there will be an employee there eager help them with what ever they need.

15. Sale Strategy • We remind and make sure that all employees treat each and every customer with the utmost respect. • We will do every thing and any thing we can to find each customer that one dream instrument of theirs.

16. Grand Opening • For the grand opening of Make Some Noise Instrument Store we plan to: • Have a concert in the park at 2:30. We can pick the type of music that would attract our target market. • At 4:00 there will be a tour of the store. This allows potential customers to become familiar with the store and to show them where the store is. • Anyone who makes a purchase of $70 or more will receive free music lessons. This is to show customers that we offer more than instruments.

17. Final Thoughts. • It isn’t just the customer that matters to us here at Make Some Noise Instruments Store. Our employees are just as important. A business that is growing needs employees who enjoy what it is they are doing. When an employee is happy, their work is better. So, we treat our employees just as well as we treat our customers.