George Reynoso is one of the last entrepreneurs standing, nationwide, in the independent record store business. Starting out as a disc jockey, then TV newsman in the ‘70s, he has owned and operated a store since 1980. El Paso knows him from countless newspaper features, radio appearances and emcee activities at local music events. So, how has he sustained in a business where other indies, chain stores, even box stores have failed? Fusion asked him just that at the latest incarnation of his store, All That Music “Collector’s Marketplace”, 6800 Gateway East.
The big buzz is why you moved your store from Lee Trevino to a location facing 1-10 on Gateway East?
Why the move? Our market was no longer conducive in a regional-neighborhood strip center location. The market now is showing a rapidly growing national and worldwide demand for collectibles, particularly vinyl LPs. I actually started searching for a more visible location three or four years ago. When the space opened up at 6800 Gateway East, I saw it as a perfect opportunity. I had steadily been amassing an inventory of classic LPs for some time and needed a location accessible to out-of-town visitors and travelers. We have literally thousands of LPs for sale and LP collectors are a national phenomenon as well as a local draw. So, being close to Airway and the high-traffic hotels that service the airport & motorists was a no-brainer. The fact that we now have better exposure to a wider customer base is a bonus.
Is the new location what you thought it would be?
The move in April was rather disruptive …kind of like starting all over again. We’ve picked up a lot of new business from Las Cruces, the Westside, Northeast & Central. However a good chunk of our eastside regulars are having trouble adapting to the new location. The good news is that they’re slowing discovering us again, and their consensus is always positive. They like the new layout, the open-ceiling, the museum, the boutique, spaciousness and general vibe. We have more space here than the Lee Trevino store and our sales are trending-up. It’ll take another year to settle-in. In the meantime we still have a lot of fine-tuning to do. We especially need to figure out and how to efficiently evaluate and process the massive amounts of used media that is coming into the store daily.
Can you describe your present business model?
The marketplace & consumers dictate what you need to do to survive, that said, I’ve always been logical about that. I see the store now as a giant funnel, filtering the vast quantities of used media available to us. We’re always fishing for the best stuff and pay sellers accordingly. Unfortunately, eighty-five percent of what we see can be regarded as common with little or marginal market-value. We see many of the same LPs & CDs every day. That doesn’t mean the music is bad, it just means it’s in abundant supply. We don’t need 10 copies of the same item. That’s why we have designated-sale-areas where our customers can pick up a great deal on this kind of stuff. We have thousands of great LPs for just $1.00 each, CDs at $2.00 each, and DVDs at $3.00 a piece. We strive however to find items in the other 15% that can be sold at a fair market value of 5-10 dollars. A small percentage of our sales can be categorized as rare, exotic, or obscure and has little chance of selling locally. Most often that type of collectible is sold on the world-marketplace via our e-commerce affiliates or an on-line auction.
So what’s collectible…and what’s not?
Wow that’s a broad question! I’ll try to summarize, at least from my perspective. There’s a market and a price for everything, the question is, what’s the highest price you can get for any particular record? It’s the reliable supply & demand equation. I tell people all the time, that the world’s most valuable & collectible records are from artists you’ve probably never heard of before. Generally, if the song & the artist were popular and in wide circulation, chances are those records are sitting in everybody’s closet and are the common items we see everyday. Obscure, exotic or edgy items in the genres of Rock, Blues, Soul, Metal, Jazz or Tejano always seem to sell well, but condition is everything. Counter-culture, alternative or Punk from any era is also highly sought-after. To command the best & highest price at retail, the record must be in truly like-new or barely-played condition with an original glossy shine. The price drops for anything less. For a serious collector, records must be near flawless and free from prints, scuffs, scratches, writing on covers, torn seams, etc. We see a lot of great records that don’t meet the highest condition criteria and end up in our dollar-section. Also, there are always exceptions to the rule, but if the records are your grandparents favorite songs of the 40’s, easy listening or soft 70’s or 80’s, chances are there is little demand and little worth. The toughest part of our business is finding good quality marketable records. Fortunately there’s no shortage of records out there so we’re always on the hunt. More often than not, we stumble on some nice surprises, and that makes for happy customers. If anyone wants more detailed information on selling used media, go to www.allthatmusic.com/sell
What’s the future for music retail?
Much of the talk now is about a subscription or cloud-based model for consumers. In short, music consumers basically pay for access to their favorite artists or songs, on-demand, for their preferred listening device. The future music store will be all about service and collectibles for serious music enthusiasts. We’re already seeing that now. Many of our newest and best customers are teens or in their twenties who have grown up experiencing music by computers, file-trading and ear buds. Today’s cutting-edge music consumer knows that you can’t beat first-edition, physical, hands-on product. A compressed MP3 file cannot compare to the superior quality of a CD or LP. Plus, if you are a true fan of the artist, chances are you want access to the liner-notes, booklets, photos or other goodies often only available for a limited time on LP or CD. For the near future, as long as CDs, DVDs, & LPs continue to be manufactured, we will endeavor to stock the most relevant titles for our local marketplace. Many of these CDs are rapidly becoming collectibles themselves. Don’t be surprised if your special request is out-of-print and commands a retail price in the 20 to 150-dollar range. We sell specialized collectibles like this all the time. This is our new market. Like all vintage collectibles weather its books, furniture, cars, or music media, the value on the highest-demand items will continue to rise.
Since 1980, the regions largest independent music & video retailer, now conveniently located on Interstate-10. Use the Airway exit. Thousands of quality collectible LPs, CDs, & DVDs graded, sorted, & organized for your shopping pleasure in a 6,500 sq. ft. store.
Contact: George Reynoso (owner/operator)
All That Music & Video
6800 Gateway East Bldg 1B
El Paso, Texas 79915
915-594-9900
www.allthatmusic.com
Mon-Thurs: 10-7
Fri-Sat: 10-8
Sundays: Noon-6