SPECIAL: NAMM WRAPUP ISSUE
MARCH 2007
VOLUME 24 NO.3

THE MAGAZINE FOR MUSICAL INSTRUMENT AND SOUND PRODUCT MERCHANDISERS

 

   
 

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FEATURE
We Cover it All!
For the second time, we honor instruments that get zero or little press...

A ‘Super’ Party on Kent Island
Experience PRS loaded up on celebrities, new products and much more. Get the full scoop...

‘Father of RMM’ Passes
Karl Bruhn, a tireless music industry devotee, mentored many and made awareness of health and wellness together a lifelong initiative.
Don’t ‘Skip’ this Story!
Skip’s Music Celebrates 30th Anniversary of its Special Event
Celebrating the 30th anniversary of your store being in business is an impressive feat. Celebrating the 30th anniversary of an idea you had at your store is utterly...
I Just Wanna Bang
on the Drums All Day
How is the Percussion Industry Doing? 2010 has been a tale of three seasons for many retailers to whom we’ve spoken. Sales for many in the first three months of the calendar year...
Your One-Stop Shop For The Holidays!
Heathcare Provision Could
Be a Nightmare

America the Beautiful

Not Doubting Thomas
Mendello Retires, Thomas Named Fender CEO

Music City Mystery


-The Latest, Industry, Dealers, People and Product Buzz and Showcases.

COLUMNS
-The Music & Sound Independent Retailer: We bring back our popular Independent Retailer Round-table. Providing four pages worth of answers are Gordy Wilcher & Lisa Kirkwood.
-Five Minutes With: We lend our ears to Marty Garcia, Founder and CEO of Future Sonics.
-MI Spy: Spy makes a visit to New York City to check out stores in both downtown and midtown. Service has to be good to win over discerning New Yorkers, right? We’ll find out.
-Dan the Man: Dan Ferrisi, with the help of occasional strategically placed SAT vocabulary words, discusses the prospect that the industry may have lost luster since a promising and upbeat January NAMM show.
-Birth of a Product Two former PRS veterans combined forces to found Knaggs Guitars. The story behind the Maryland- based company, which debuted a line of products at Musikmesse.
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Sales Guru: Sales persistence pays off. Just ask Gene Fresco
-Veddatorial: Dan Vedda provides a can’t-be-missed Summer NAMM synopsis.



FORMIDABLE FEMALES

-Catherine Polk: I’ve always had a great love for music. I come from a musical family of four girls. We mostly had a vocal background, but most of us played the piano. Also, my grandfather would...
-Cyndi Fritz: She never had a dream of becoming the next Janis Joplin. Although she has eclectic musical interests, a career in music was not necessarily on her radar. Cyndi Fritz was....
Janet Deering: When Janet Deering took an aptitude test at the conclusion of her high school career, she was told agriculture or sales were....
-Kathy How: Now here’s a story you don’t hear connected to MI every day. A woman who grew up in Cape Town, South Africa, studied medicine and later moved to England.
-Sarah Heil:We’ve all heard the stories about people beginning in the mailroom and later becoming the CEO of a major corporation. Those people are rare, but it does happen.
-Sue Avant is a trailblazer. She’s also someone who
has varied interests. And she is, indeed, formidable.


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Winter Show Smashes Another Attendance Record
[Page 1]

NAMM blew away its attendance record set last year after 84,965 registrants walked through its doors in January in Anaheim. About 81,000 attended last year. Those who attended were treated to plenty of celebrity star power, new products, tons of parties, and loads of advice. There were too many stars to mention, but some of the highlights included Eddie Van Halen’s surprise appearance at Fender’s Dealer Appreciation Party, Earth, Wind & Fire at Yamaha’s Dealer Appreciation Party, and OK Go at the Sennheiser party.
The vibe of manufacturers was upbeat. Several suppliers we spoke to said traffic at their booths was busy at all times. And manufacturers added they felt the show was better than 2006, and they were pleased with that show.
Even dealers in the back corners and basement had zero complaints. “It’s been really strong,” said one manufacturer. “Even though we’re in the corner, people continue to stop by our booth. I’m really happy.”
Dealers we spoke to also seemed happy. The only negative was two dealers telling us they just didn’t find enough new products that “wowed” them and made them want to buy them right on the spot.

Talking About My Education
Perhaps the most informative of the NAMM morning sessions was “The Big Issues: Profitability,” taking place on Friday. The panel discussion was hosted by Bill Hinely and composed of Eric Matzat, president of Palen Music, Willis Music’s Kevin Cranley, Cranley, Skip Maggiora of Skip’s Music, George Hines of George’s Music, White House of Music’s Chris White, and Ron Papparella of Daddy’s Junky Music.
Cranley discussed the importance of turning other ideas into your own. “Even Thomas Edison once said he only had one original idea. He turned everyone else’s ideas into his own.”
Cranley added he always tends to worry about things he has no control over at his store, such as profitability. “So I say a ‘serenity prayer.’ I try to make sure I only worry about things I do have control over.”
Papparella stressed the importance of cutting costs. His best advice: “Zero-Based Budgeting,” which he said has reduced operating expenses.
“Try to reduce your operating expenses by 3 to 4 percent every year,” he said. “That adds a lot to your bottom line.”
But how do you decrease operating expenses? “Look at every line item in the budget month to month,” he recommended. “Everything must be open to renegotiation, re-examination.
“Look at your organizational structure,” he added. “Sales compensation is your biggest expense. Did you develop a plan that pays for performance, not results? And don’t just accept a 20 percent annual healthcare increase.”


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