Published June 2, 2010
The case of Sarasota Guitar Company is a textbook example of how to launch a business in a tough economy. First, find a way to provide products for a fraction of your competitor’s prices. Next, give your customers everything they could possible ask for, before they even ask for it. And finally, watch the money start pouring in.
Selling guitars out of a 10-foot by 10-foot booth at the Red Barn Flea Market last year, Sarasota Guitar Company owner Scott Cook could never have imagined what his business would look like today. In December he decided to take a chance in a highly unstable economy and opened a 900-square-foot retail store at 4333 South Tamiami Trail, Suite A. Fortunately, Cook was armed with a brilliant concept, which is why last Thursday, less than six months after opening, he moved two doors down to Suite C, effectively doubling his retail space.
Cook’s golden idea was to sell factory-second guitars — instruments with small imperfections that guitar companies deem, for one reason or another, unworthy to sell at suggested retail prices. “Basically it’s a factory-second with a small blemish on it, and they’re cosmetic, nothing physical, so the guitars play correctly,†says Cook. “Sometimes we can’t find anything wrong with them. But because of that they’re saving quite a bit of money — usually anywhere from 50-70 percent off the manufacturers suggested list price.†(more…)Tag: Sarasota Guitar Company
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Cheap trick: A business model tailor-made for economic recession has allowed the Sarasota Guitar Company to thrive in a hurry
Published June 2, 2010
The case of Sarasota Guitar Company is a textbook example of how to launch a business in a tough economy. First, find a way to provide products for a fraction of your competitor’s prices. Next, give your customers everything they could possible ask for, before they even ask for it. And finally, watch the money start pouring in.
Selling guitars out of a 10-foot by 10-foot booth at the Red Barn Flea Market last year, Sarasota Guitar Company owner Scott Cook could never have imagined what his business would look like today. In December he decided to take a chance in a highly unstable economy and opened a 900-square-foot retail store at 4333 South Tamiami Trail, Suite A. Fortunately, Cook was armed with a brilliant concept, which is why last Thursday, less than six months after opening, he moved two doors down to Suite C, effectively doubling his retail space.
Cook’s golden idea was to sell factory-second guitars — instruments with small imperfections that guitar companies deem, for one reason or another, unworthy to sell at suggested retail prices. “Basically it’s a factory-second with a small blemish on it, and they’re cosmetic, nothing physical, so the guitars play correctly,†says Cook. “Sometimes we can’t find anything wrong with them. But because of that they’re saving quite a bit of money — usually anywhere from 50-70 percent off the manufacturers suggested list price.†(more…)