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Unread 01-06-2013, 02:22 PM   #1 (permalink)
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guitar center money woes...

Life Support: How Long Until They Pull the Plug on Guitar Center? : The Tone King | TheToneKing.com
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Unread 01-06-2013, 02:26 PM   #2 (permalink)
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Re: guitar center money woes...

Good riddance! all I hear is moaning about that retched place.
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Unread 01-06-2013, 02:31 PM   #3 (permalink)
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Re: guitar center money woes...

Wonder what they would be worth if they liquidated ALL assets and returned stock.
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Unread 01-06-2013, 02:51 PM   #4 (permalink)
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Re: guitar center money woes...

you'll probably see some crazy deals coming in the next couple months as they try to move inventory...

bright side is, maybe it will herald the return of the mom and pop shops? hahaha,,,who am i kidding...
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Unread 01-06-2013, 03:03 PM   #5 (permalink)
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Re: guitar center money woes...

I consider myself pretty well informed in big biz and finance but I had no idea about this. Was this a well kept secret?
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Unread 01-06-2013, 03:25 PM   #6 (permalink)
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Re: guitar center money woes...

i dont know, but im reminded of the strategy GC has employed to drive the competition out of business.

some of you have heard me complain b4 about the lack of small shops in the last decade or so in my area. when GC came around, we had one other regional chain, daddy's junkie music. it was new england area, several stores in mass, nh, and maine. probably other states too. anyway, when GC came to town, they forced the mom and pop shops to close up, one by one. they couldnt compete with the prices, and many of the vendors required minimum orders that were just too much for an independent shop, thanks to GC's buying power.

eventually even daddy's couldnt compete. they closed up the last store last summer i think.

GC employed a strategy of undercutting themselves on their own pricing to drive competitors out. it has worked, but now, it seems their own tactics have backfired on them (maybe).

the good news, in my neighborhood, is that since literally ALL of the decent small shops have closed up, and daddy's was on the long slide for years, it created a vacuum. there is a place that opened up a couple yrs ago, its a pretty big space, and they have TONs of used gear, as well as getting into some new stuff.

i have watched this place go from an interesting little shop to a treasure trove of goodies. there is barely space to walk in this place anymore as they have such a good reputation among the locals who dont want to deal with GC. seriously, you can spend hours checking all the nooks and crannies looking for cool stuff at this place. price are fair, and the people are great. and now this guy has a virtual monopoly on the used and alternative market for local musicians.

bring back the small shops!
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Unread 01-06-2013, 03:29 PM   #7 (permalink)
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Re: guitar center money woes...

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Goo riddance!
Is that another term for having a wank?
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Unread 01-06-2013, 03:46 PM   #8 (permalink)
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Re: guitar center money woes...

I don't know but on MF's website this morning all the "stupid deals" were $50-$200 more than they were before x-mas.
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Unread 01-06-2013, 04:02 PM   #9 (permalink)
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Re: guitar center money woes...

wait till they get closer to that april deadline.

probably late feb/march
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Unread 01-06-2013, 04:12 PM   #10 (permalink)
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Re: guitar center money woes...

GC's biggest problem is with sales staff turnover. Yes, bringing new customers through the doors is important, but building the relationships that retain customers is far more important. When you can't retain business, it's game over.
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Unread 01-06-2013, 04:12 PM   #11 (permalink)
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Re: guitar center money woes...

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Is that another term for having a wank?
or dispensing an annoying poo!
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Unread 01-06-2013, 04:16 PM   #12 (permalink)
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Re: guitar center money woes...

Interesting read. I always liked the folks at the Guitar Center. Very helpful team, but many local stores have gone under.

There is a great non-chain store in Pittsburgh that rivals the largest Guitar Centers in quantity and quality of gear. Pianos N' Stuff Music is a super store.
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Unread 01-06-2013, 04:30 PM   #13 (permalink)
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Re: guitar center money woes...

Shame it isn't WALmart. Their business practices SUCK. Ask their Vendors.

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Unread 01-06-2013, 04:43 PM   #14 (permalink)
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Re: guitar center money woes...

Hard to imagine a chain that big going out of business but in this economy anything is possible.
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Unread 01-06-2013, 04:56 PM   #15 (permalink)
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Re: guitar center money woes...

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GC's biggest problem is with sales staff turnover. Yes, bringing new customers through the doors is important, but building the relationships that retain customers is far more important. When you can't retain business, it's game over.
I goto all the GC's in my state but I buy from one and its the same sales person that I have dealt with for year. Good guy!
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Unread 01-06-2013, 05:00 PM   #16 (permalink)
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Re: guitar center money woes...

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Hard to imagine a chain that big going out of business but in this economy anything is possible.
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Unread 01-06-2013, 05:46 PM   #17 (permalink)
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Re: guitar center money woes...

Here in Canada our big chain is Long & McQuade , and they have been on the rise in terms of sales and number of Stores nation wide .... more locally my L&M store has had some of the same sales staff for 15+ years , and even some of the newer staff are 7-8 + years etc etc ... So as Longfxukxnhair has pointed out , i agree that that personal touch with a familiar face helps when shopping in these types of stores ...

It's possible to become a large profitable business these days , but you need to keep up with the times as i suspect that's partially to blame for some of GC dismal sales & bad business problems etc etc. You have many players in the Music retail business these days , just think about how many items are sold on line every day !! .... Boutique amps , boutique pedals , guitars , ..... **** the list is endless !! these types of competition was not around 15 years ago ... keep in mind ! hell you can even buy little Johnny his starter guitar package on line from Ebay at 4 am if you need !!
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Unread 01-06-2013, 05:51 PM   #18 (permalink)
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Re: guitar center money woes...

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GC's biggest problem is with sales staff turnover. Yes, bringing new customers through the doors is important, but building the relationships that retain customers is far more important. When you can't retain business, it's game over.
Y'know, the guy I used to deal with in the Medford Oregon GC was a great guy. He's the reason I kept going back there over and over. However, if you can't make it on what they pay, or you are working there as you go to school and it's not the be-all, end-all, I understand why there is such turnover.
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Unread 01-06-2013, 05:56 PM   #19 (permalink)
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Re: guitar center money woes...

well, as the article points out, benefits, compensation, and hours have all been slashed for employees. if they keep everyone under 35 hours, they dont have to provide benefits, and b/c of a desperate work force, wages can be kept low... thats a breeding ground for high turnover.

bain capital FTW!
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Unread 01-06-2013, 06:09 PM   #20 (permalink)
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Re: guitar center money woes...

Everything is going to end up like this. And then the end will come.
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Unread 01-06-2013, 06:14 PM   #21 (permalink)
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Re: guitar center money woes...

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Everything is going to end up like this. And then the end will come.
Well there's two ways to look at things like this. Businesses should go out of business if they can't pull their weight. All bailouts do is bail out the rich. Take the Twinkies for example. People for the last 20 years have been trying to eat healthier. Hostess never changed up their business model in spite of drops in profits year after year. The real reason they went "out of business" was to union bust. All along they wanted to sell off the business but the union makes them less attractive to prospective buyers. I just saw today after all this nonsense they have buyers for the bread division.

If GC goes out of business it won't be the end of the world someone else will step up. Bad business ruins economies not survival of the fittest.
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Unread 01-06-2013, 06:15 PM   #22 (permalink)
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Re: guitar center money woes...

wreck yo'selves fools!
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Unread 01-06-2013, 06:17 PM   #23 (permalink)
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Re: guitar center money woes...

I get you SATO. I'm just saying that eventually the biggest of the big will own it all. Bar none. And not just for bread companies and guitar retailers. That's the fearful part.
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Unread 01-06-2013, 06:22 PM   #24 (permalink)
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Re: guitar center money woes...

People concerned about businesses becoming owned by one group of people/companies etc. Like healthcare, water, gas, electricity... shopping outlets, food imports.. fuel companies etc.

The Mcdonald's-isation of the world!

and people think everything will be owned by the government and it'll be socialism/communism, a police state and technology will determine our fate..

Well -

WAKE. THE. ****. UP.

It's already happened - agendas are just shifting, yeah you'll notice some bumps in the road.. but it's very clear to see over the past 50 years what's happening to 'nations' and their people... wars, dramas, banks... banks and banks and banks and more banks...

Homogenization within the culture industry has already happened..

Societies are very easily led... passive consumers... the gap between rich and poor is getting greater .. and for the larger amount of people we're becoming more of the same!
Same wealth, same kind of house, care, TV, internet supplier etc..

The greater number of people.. are just the same over and over again.. human cattle - we're like cows or pigs on a farm for them reproducing and behaving in the same way... they just use money to shackle us and to serve their means of their own living [which essentially is jostling for power and their own spin on stuff]. The people in charge of a nation/country - the people are just the people that run the market.. their market.. which then competes with other markets around the world...it's like we're working for a company...
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Unread 01-06-2013, 10:46 PM   #25 (permalink)
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Re: guitar center money woes...

Thats too bad, Theyre my #1 place to go try out gear before I buy it used somewhere else. I'm guilty of that but I cant afford anything accept accessories from them. Maybe there'll be a comeback of the mom and pop stores!
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Unread 01-07-2013, 12:36 AM   #26 (permalink)
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Re: guitar center money woes...

I remember when the one on Hollywood Blvd was the only one around. (here anyway) Then I saw them pop up, here there & finally, one was opening up within 5 miles of my house. I had known everybody from all the local stores within about a 30-50 mile radius.

The manager of the soon-to-be GC popped his head into each & every local store & proclaimed their impending doom & was kind enough to offer everybody a chance to get a job at his store.

Everyone told him to **** off & none actually went to work there either, but his prophecy pretty much came true. Most all the stores closed down & GC became the main source for equipment.

There's been a few that still remain to this day, but they have changed hands a few x's & are skeletons of what they once were. The main advantage had been that they could offer lessons & service, whereas GC had none. Now GC has a guitar tech, but their amp tech service is outsourced, so they have to send it out on a 2 week journey, just to look at it. Also a min $100 charge, whether or not anything is done.

The problem w/ the local stores though, is that they don't carry anything other than the beginner lines, unless by some chance, someone brings in a used item & you just happen to get lucky & be there on the day it's in the shop. Generally, their prices are higher, so that Infinity Strat kit that you get at GC for $299, runs about $400 or more at the smaller shops. You will be paying pretty much full retail for a Les Paul, if they ever get one.

Since then though, we have Sam Ask & Best Buy is in the music business as well. There's still a couple bigger stores around that have always been competitive.

Things will suck though, if GC goes down. It will take quite some time to fill in the void. The hope that the mom/pop will come back is a noble thought, but they will be like boutique shops where everything will be at a premium.

I guess Amazon will still be there for strings. $3/set for electric will be hard to give up. I don't think I'll be in a situation to get an endorcement again, as I get older. I had a Dean Markley one, but some time after, I switched to D'addario, after a friend gave me a set & I liked them...
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Unread 01-07-2013, 05:15 AM   #27 (permalink)
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Re: guitar center money woes...

Oh gee, GC is going outta business.... thats sucks.

What the hell will Gibson and Fender do?

How many small independent shops can afford their +$100,000 buy in and 80% mandatory wall space requirements? Oh, thats right.... very few. Good luck!

I'm exaggerating here of course, but maybe some good will come out of this.
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Unread 01-07-2013, 07:08 AM   #28 (permalink)
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Re: guitar center money woes...

If this is true, I'm sad to see it happen. **** mom and pop shops. I don't understand the idealistic whining and pining for a little tiny local yokel music shop. They typically neither have the inventory or the deals GC has. How much customer service do you need at a music store? I do my own homework if I'm unsure about something. Smartphone + data plan = information. I don't want or need some flunkee telling me what to buy. I dunno, I just go in and buy what I need or want. Or I go in to try stuff out to buy elsewhere. Capitalism can be it's own worst enemy.
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Unread 01-07-2013, 07:55 AM   #29 (permalink)
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Re: guitar center money woes...

I haven't found a good local shop here yet. some have decent inventory but they act like they're doing you a favor by servicing you-same w/ just about every other business in this backwoods shithole. I'd rather buy used anyway.
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Unread 01-07-2013, 11:00 AM   #30 (permalink)
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Re: guitar center money woes...

We have a local Mom/Pop store. The guy gets super pissed if you don't buy something at his by the book prices. On top of that his inventory sucks ass. Not saying this is true for all places, but certainly for me.

G.C. used gear site is actually very good.
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