Music Store Franchises

This can actually be supported by 2018 music sales figures. In the year 2018, the music industry has so far generated about $51.5 billion all over the world. Out of this amount, $19.6 billion comes from the United States alone. This is why the music market in the U.S cannot be assumed and so starting a music store franchise will set you up for success and bring your dreams to reality. In the U.S, the music industry has really grown and developed and this has mainly been facilitated by modern technology. Gone are the days when people used to buy physical albums in order to listen to music. This has not just changed in the United States, but also in the entire world. With the modern digitization, people are also turning away from downloading good music and this makes streaming the modern-day thing. This is mainly happening among young consumers, making streaming a massive force in this industry. Therefore, from physical albums to digital music downloads and now streaming, music consumption in the United States has been changing over time. Studies predict that the revenue generated from music streaming will continue growing if this trend continues over the coming years. By the year 2022, revenue from digital music streaming is expected to be $8 billion. In the United States, the musical instruments and supplies stores industry comprises of guitars, violins, drums and pianos, and organs among other instruments. Instrument parts, components, accessories audio equipment, instrument rentals and purchases, audiobooks, tapes, and CDs are also part of this industry. You can, therefore, decide which of these products you will deal with as you start your music store franchise. As you pick your niche, it is important to consider the technological advancement in the industry in order to avoid getting stuck with products that are behind time. There has been a slight increase in the annual revenue figures of the musical instrument and supplies industry between the years 2009 and 2014 in the United States. By the year 2009, the musical instrument and supplies industry amounted to around $6.6 billion in the United States. Here are some important points of information to research before you decide on which Music Store franchise is best for your situation. 1. Check out all the other franchise locations and other types of Music Store franchise market competition in your area. 2. Research each Music Store franchise and list the services they offer and specialize in to determine the best fit for you. 3. Review each Music Store franchise and make a chart that includes franchise fees, startup cost, cash investment, etc. 4. Call and talk with current franchise owners and get their opinion on the pros and cons of the different franchise options. At Franchise Clique, we are proud to present a variety of Music Store franchise opportunities in our listings. Find your next investment today!