corybraiterman wrote:
Quote:

Okay. But you contended that one of the reasons you're closing is because of the location. I get that. But if the business model is sound, it should be profitable in another location, right? If not, then maybe the business model isn't sound, and I, as well as others would contend, that it's primarily because of downloaders.

As far as tax writeoffs go, there could be a multitude of reasons that a corporate parent could keep open a branch that is losing. However, a tax write off is not one of them.

Losing money for a tax writeoff is giving someone $1 so that can give you back 25 cents (use whatever tax percentage you want). Tax writeoffs lessen the blow of a loss, but it's still a loss, and no one would prefer to have them or keep an unprofitable business open simply to generate them.

One of the reasons it is successful is the location, or rather what the location used to be. As a general demographic, physical media appeals to older people, less educated people and poorer people (often all 3) who don't own computers and/or know how to work them. This is something that Greenville has that many other sections don't have. We sell (sold. Well still sell) a ton of rap, r&b and gospel items - rock and pop are very small sellers, despite whatever they might be nationwide.

We cater to the neighborhood, and that was fine when the neighborhood had enough spare cash to go out to the mall. It doesn't anymore. Today is the nicest day of the month, 50 degrees and sunny on a Saturday. I've got about a 200 foot view from the angle I'm standing at. There's one person looking at the displays in the furniture store. Not another soul. Everyone's at Newport

Okay. But you contended that one of the reasons you're closing is because of the location. I get that. But if the business model is sound, it should be profitable in another location, right? If not, then maybe the business model isn't sound, and I, as well as others would contend, that it's primarily because of downloaders.

As far as tax writeoffs go, there could be a multitude of reasons that a corporate parent could keep open a branch that is losing. However, a tax write off is not one of them.

Losing money for a tax writeoff is giving someone $1 so that can give you back 25 cents (use whatever tax percentage you want). Tax writeoffs lessen the blow of a loss, but it's still a loss, and no one would prefer to have them or keep an unprofitable business open simply to generate them.

corybraiterman wrote:
Quote:

You explained the problem with your current location, but what about other locations?

I don't think you understand tax writeoffs, either. Losing money to get a tax writeoff doesn't make sense.

The owner doesn't want to be in a non-mall location due to security reasons. Also moves cost a fair amount of money, and at this point, there's no sense in throwing good money after bad.

Quite frankly as to the other point, I'm just gonna hope you can read between the lines here. I know for a fact what overhead costs. I know what they sell and can make very educated guesses on how much of it they do sell. I know for a concrete fact that many stores here are not making overhead, much less any semblance of profit. I know why places like Radio Shack and New York & Co are still open - they're corporate, so one store losing rent isn't that big of a deal, just the store being open is an advertisement for the brand.

I'm sure you can make some really good guesses why a small store would stay open despite being a money drain. Figure it out.

You explained the problem with your current location, but what about other locations?

I don't think you understand tax writeoffs, either. Losing money to get a tax writeoff doesn't make sense.

corybraiterman wrote:
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CSXrailfan wrote:
I guess I'll have to start going to the store at Hudson Mall, Jersey City's last last full time new and used music store?

uh... 'fraid I don't get the pun you're going for here, but ok.

Stillinjc: If the economy were better, we'd be doing just fine. Not fantastic, but we'd be making money. TONS of people were downloading just four or five years ago, and we were doing 3-4x the business we are now. There's no traffic here in this mall - it isn't just us.

My prediction on which other stores don't last the year, assuming the owners aren't just using the businesses as tax write-offs and don't care if it's losing money? The furniture store across from us, the men's store next to us, the boutique clothing store on the other side of us and the perfume store near the center of the mall.

None of those stores are affected by downloading, it's just that business is not good - people aren't shopping at this mall anymore. Combination of the neighborhood, poor public transportation compared to Newport, lack of destination stores, etc.

corybraiterman wrote:
Sorry for the apparent confusion, I'm not sure how people got this out of it, but Stan's is still open - albeit rarely.
Supersounds, the store I work at, over in the Hudson Mall, is the one closing.
[edit] Meh, I re-read that, and I guess I can see why someone would think that. Sorry again.

HobbiesOdd wrote:
This is terrible news - not only because an independent record store is going out of business, but also because I've been living in Downtown for five years and never knew of its existence. I have been buying all my vinyl from NYC shops and occasionally Iris (when they're open). If I had know about Stan's I surely would have been a regular. F**king bummer.

CSXrailfan wrote:
I guess I'll have to start going to the store at Hudson Mall, Jersey City's last last full time new and used music store?