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2018 Market Analysis & Industry Outlook: Musical Instrument & Supplies Stores
Overview: the U.S. Musical Instrument & Supplies Stores Industry
This section provides answers to key questions about the industry:
- What is the total market size (industry revenue)?
- What is the industry outlook?
- Market Analysis: Is the market growing or declining, and how quickly?
- Are long-term forecasts positive or negative?
- What is the average company size in the industry?
- How many companies are in the industry?
Market Size & Industry Statistics
The total U.S. industry market size for Musical Instrument & Supplies Stores:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2012 2013 2014 2015 2016 2017 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following five-year demand forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Product & Services Breakdown
Research products and services in the Musical Instrument & Supplies Stores industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
|||
Audio Equipment, Musical Instruments (New & Used), Radios, Audio Electronic Components, CDs, Records, Tapes, Audio Books, Sheet |
|||
Audio Equipment, Components, Parts & Accessories |
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Pianos & Organs, (New & Used) |
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Other New Or Used Musical Instruments & Accessories |
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Sheet Music & Related Items |
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All Nonmerchandise Receipts |
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Labor Charges For Work Performed By This Establishment |
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Rental Or Lease Of Musical Instruments |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
|
| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Musical Instrument & Supplies Stores company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Musical Instrument & Supplies Stores industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
|
| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Musical Instrument & Supplies Stores measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
|
| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
|
| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
|
| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
|
| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 3% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Sales and Related Occupations | 76% | |||
| Supervisors of Sales Workers | 8% | |||
| First-Line Supervisors of Sales Workers | 8% | |||
| First-Line Supervisors of Retail Sales Workers | 8% | |||
| Retail Sales Workers | 68% | |||
| Cashiers | 8% | |||
| Cashiers | 8% | |||
| Retail Salespersons | 59% | |||
| Retail Salespersons | 59% | |||
| Office and Administrative Support Occupations | 10% | |||
| Material Recording, Scheduling, Dispatching, and Distributing Workers | 5% | |||
Musical Instrument & Supplies Stores Industry Market Share [PREMIUM]
Largest companies in the industry and related industries, with private company revenue estimates.| Company | Address | Revenue Estimate |
|---|---|---|
Innovation News
Top Innovators
| Company | Innovation Score |
|---|---|
| Guitar Center | 215 |
| Trans World Entertainment | 15 |
| Deering Banjo | 7 |
| Sam Ash Music |
Additional companies, details and innovation scoring in the full report.
Latest Industry News
- After 30 Years in Business, Pepperland Music in Orange Laid Waste - Owning a music store has introduced Lefebvre to countless people ... "when he wanted to play the clarinet as his first instrument, they called Benny and Benny told his mom to give him one of the old clarinets he had as a kid." Lefebvre put the piece ... (01/10/2018)
- The State of the Independent Music Store - ... not everyone lives in an area where you can play the kinds of instruments that we have,” says Adam Dardeck, a sales manager at the Music Emporium in Lexington, Massachusetts. The store, which turns 50 this year, launched a YouTube channel in 2014 ... (01/08/2018)
- MUSIC MAN Meidl supplies instruments to area schools - his focus is providing band and orchestra instruments and accessories to school districts. He learned the trade from his father who opened the family music store in Lamberton in 1970. Meidl worked at his father’s store in high school and left to go to ... (01/06/2018)
- Doc helps instruments keep making music - He lines up the instruments almost like patients ... It came to him to open up his own store: The Music Doctor. “Everybody thought I was crazy,” Murdaugh said. “They told me I didn’t have enough money.” For a little while, it seemed that maybe ... (12/29/2017)
- Flipside Music Is an Old-School Guitar Shop in New Denver - Anthony "Ike" Iacovangelo Jr. started his music-gear business with ... as well as guitar and amp repair, the store also works with Blue Star Connection, a charity that Iacovangelo says is all about getting instruments to kids who are in cancer centers ... (12/29/2017)
- Best Music Instrument Store - Have you ever walked into a bar, cafe or boutique and felt immediately sized up and judged by the shop person? Well, that most likely won’t be your experience at Robot Monster Guitars. Located at the end of St. Mary’s in our only sort-of “music ... (12/29/2017)
- Band, orchestra instrument retail store to open in Philomath - The Philomath store will feature new owners — Gracewinds repair technicians Mark and Katie Rasmussen — and a new name, Windsmith Music. Gracewind’s band and orchestra instrument retail department and repair service will be located at the Philomath store. (11/22/2016)
- Widow of Music Store Owner Donates Over 100 Instruments to Help Others Find Joy in Making Melodies - Scores of French horns, cellos, flutes and violins once filled the shelves of Stephen Melvin’s beloved music store in Millburn ... are professional level instruments,” the school’s music director, Katheryn Iwanusa, tells PEOPLE. (04/08/2016)
- New store features second-hand musical instruments - Second Song Musical Instruments, located on the second floor of the Old Bag ... six weeks ago when the management of the Old Bag Factory asked if I could put a music store in here,” Landow said during the shop’s grand opening celebration Monday afternoon. (07/03/2012)
Government Contracts
In 2016, the federal government spent a total of $1,636,685 on Musical Instrument & Supplies Stores. It has awarded 107 contracts to 26 companies, with an average value of $62,949 per company.Top government vendors:
| Company | Federal Contracts | Total Award Amount |
|---|---|---|
| |
Growth Opportunities / Competitive Threats
Companies in other industries may also sell similar products. Since there is an overlap in the customer base, there may be an opportunity for companies in Musical Instrument & Supplies Stores to sell additional products/services offered by these adjacent industries. Alternatively, these industries may identify further products in this industry to target. Products most at risk are those with the highest profit margins and lowest barriers to entry.The following industries are competing channels for sales of similar products/services.
Audio Equip, Musical Instr, Radios, Stereos, CDs, Records
| Competing Industry | Sales Relative to Musical Instrument & Supplies Stores | Opportunity/Threat |
|---|---|---|
| Radio, Television & Electronics Stores | ||
| Online (Internet) Shopping | Competing industry | |
| Warehouse Clubs, Supercenters & Big Box Retail | Competing industry | |
| Discount Department Stores | Competing industry | |
| Mail-Order Houses | Competing industry |
Sales from other industries of Audio Equip, Musical Instr, Radios, Stereos, CDs, Records are less than those from Musical Instrument & Supplies Stores. This may mean that other channels are a competitive risk of increasing their Audio Equip, Musical Instr, Radios, Stereos, CDs, Records sales, taking market share from this industry.
Audio Equip, Musical Instr, Radios, Stereos, CDs, Records Product Sales Report
Audio Equipment, Components, Parts & Accessories
| Competing Industry | Sales Relative to Musical Instrument & Supplies Stores | Opportunity/Threat |
|---|---|---|
| Radio, Television & Electronics Stores | ||
| Warehouse Clubs, Supercenters & Big Box Retail | ||
| Discount Department Stores | ||
| Computer & Software Stores | ||
| Online (Internet) Shopping |
Since sales from Musical Instrument & Supplies Stores are a small fraction compared to other industries selling Audio Equipment, Components, Parts & Accessories, companies in the Musical Instrument & Supplies Stores industry have the opportunity to expand their product offering to take share from these adjacent industries.
Audio Equipment, Components, Parts & Accessories Product Sales Report
Segments classified within this market research report
This industry market research report includes companies whose primary business is any of the following:Musical instrument stores, Sheet music stores, Music stores (i.e., instrument), Piano stores, etc.
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