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My Beloved Music

My Beloved Music. Co Ceo-Hunter Osborn and Tyler Peabody. Mission Statement.

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My Beloved Music

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  1. My Beloved Music Co Ceo-Hunter Osborn and Tyler Peabody

  2. Mission Statement • My Beloved Music employees will be able to answer any questions related to products. We want to guarantee best lowest prices on any kind of sound equipment. To enable new and old musicians to learn from each other, and share to the world the talent of music, we want a customer to pick up any instrument and try it out to see how the instrument sounds/feels. Our goal as a company is to offer help. We will have trained employees to fix the instruments. In our store customers are our main priority all the time. We will have highly qualified music technicians and musicians. Our staff will be qualified enough to teach how to use the instruments. We will teach and repair. If a customer wants a custom guitar we will be able to provide the service. We know the power of music, but now it’s your turn.

  3. Form of Ownership • Partnership

  4. Location • Located in Elmira NY

  5. Product/Service • Product: Guitars, Drums, Amps, Lessons, Accessories, Custom guitar building, Recording.( for full listing see appendix one) • Place: Elmira, NY, in-store selling and online selling • Price: Competitive pricing strategy • Promotion: radio, newspaper, flyers, internet, once every 3 months have a concert.

  6. Customer profile • Customer Profile: • Psychographics • Tastes: has in interest in instruments • Opinions: feels like music is a necessity in life • Geographic’s • Lives around/near Elmira • Customers: individuals • Income:$15000-$200000 • Age:15-85 • Gender: mostly male and some female • Live near/around Elmira • 85.4% of all males • 20% of all females • Customers want affordable/great quality instruments • Potential customers currently buy from guitar center • Can give customers a good experience and we can teach them how To play and learn the different parts of the guitar • Customers may be willing to pay a certain amount Depending on the brand of the guitar

  7. Target Market Target Market: • My Beloved music targets market includes people who are beginners, hobbyists, and semi-professionals. These groups contain a large percentage of musicians. These people have the most percentage of disposable income. For these groups you don’t have to market your company in many different ways and your customers can be very loyal if treated right.

  8. Secondary info • 1. Around about 5% to 10% actually play guitar • 2. 60% is the age of 25 or older • 3. 90% users are males • 4. 75% have at least a college degree • 5. 40% house hold of 4 • 6. 50% house hold income $30k to $75k • 7. 50% have 5 years of experience playing guitar • 8. 90% own acoustic and 60% own electric • 9. Fender, Gibson, Martin, Taylor, Ibanez are brands that are favored to customers • 10. 70% users buy more than $300 a year on CDs

  9. Competitors • MBM’s Competitors are located in Johnson City, NY at Guitar Center and McNeil music and those are both approximately 1 hour away.

  10. Org Chart Graphic Design N/A N/A N/A Marketing manager Accountant Hunter & Tyler CEO/Owner Sales floor manager Teaching/recording manager Sales floor worker Restocking/maintenance Teachers Sound booth workers

  11. Financial info • Cash Flow:

  12. Financial info (cont.)

  13. Financial info • Year 1-3

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