Lets start this off by saying, i dont work for GC, have no common interest in there profits etc..
With that being said, everyone seems to bash guitar center, but what you dont realize is without them guitar prices would probaly be through the roof! I for one am glad there is a GC.
My biggest grip about them is they dont do good setups when instruments come in, however I can understand as they get mass amount of equiptment. With that being said I walk into a GC, if I am interested in a guitar I ask for wrenches and screw drivers and do my own little set up, I have done this on the last two gibson i have purchased from them.
You may think i shouldnt have to do this, but I have a good relationship with one of the employees which he gives me discounts, examples I will always save anywhere from 200 to 700 off a guitar, so taking 30 minutes of my time to set up a guitar to save myself 200 to 700 dollrs is not a big deal.
My advice to Brian to make GC worth more. First have one of your employee's go around and set up guitars in every store, wipe them down and make them look nice. They will sell alot more to most people that dnot know how to do setups.
Second, they do have to learn to be more picky on who touches guitars, I am sure most of the money they lose has to do with the amount of repairs they have to pay for. By keeping control they can seave themselves alot of money!
vermillion said:
From what I've just read, Guitar Center is no longer a publicly held company. They're now completely owned by Bain Capital Partners (a holding company).
They were bought for 2.1 billion and Bain would assume liability for the debt.
This could mean a variety of things (heres just a few)
1) Bain saw an opportunity - strong brand, good price, etc. They might think that GC could eventually become a cash cow providing decent profits every year.
2) Bain could acquire music manufacturers, thereby controlling some manufacturers and some major portions of music gear retail channels (musiciansfriend + guitar center)
3) Bain is hedging a bet that GC will be worth more than $2.1 bn in some period of time.
No doubt about it, 2.1 bn seems kind of high, but thats just my opinion.
I have noticed more GC advertising on the radio lately. In addition to the no payments for 12 months stuff I head partner related yapping, "buy GIBSON at GUITAR CENTER" and "buy a MARSHALL at GUITAR CENTER". Some say the economy is in the sh!t, maybe the GC/Bain organization is nervous and is prolonging the inevitable.
We shall see. Remember the Mars Music chain? Gone without much of a whimper.