Albuquerque / New Mexico / United States
The business: Were a retail music store. We specialize in school musical instruments, accessories, printed music, instruction and repairs. Time in business: The business was founded in 1947 by Elmer Baum. My wife, Mary, and I purchased it in November of 1988. It was first located on Cornell, and then moved to south San Mateo then in 1973 to the Eubank location. Previous jobs: After college, I taught for nine years with Albuquerque Public Schools as an orchestral string teacher. Then I joined my father in the wholesale candy business in Albuquerque. We then bought a candy business in Santa Fe. It was called Krum Distributing Co. We had that until 1986. Then in 1988 I bought this business. How I started this business: I started doing business with Baums as a music student at UNM. At that time it was at 112 Cornell S.E. It was behind whats now the Frontier. I went there to get my own instruments repaired, buy accessories and so forth. As a teacher for APS, the district took care of repairs, and I took all the instruments to Baums. So I knew the company for 30 years before I bought it. I bought instruments for my children there. When I sold my business in Santa Fe, I called Jerry Baum, Elmers son, one day and said, "Jerry, did you ever think about retiring?" And he said it was just the right time to call, because he definitely was interested in retiring. He was in his late 60s at the time. And so we did our negotiations, and I purchased it. Main responsibilities: Through the years, Ive done a little of everything. I oversee the financial matters. I also do the major instrument purchases and help with the marketing. Best thing about the business: There are two great things: the staff and the clientele. Our staff is well educated and professionally trained in each of their respective areas of expertise. The clientele is the worlds best. They frequently come to the store as families. Theyre interested in enriching their lives through increasing their knowledge and appreciation of music. Worst thing about the business: There really isnt anything, except that we could use a 26- or 28-hour day. We run out of time. Best thing about doing business in New Mexico: Its the people. New Mexico attracts many outstanding people because of its scientific, academic, military and supportive services. Combine that with our own unique cultural base and its an unequaled body of talent. You could start a symphony at Sandia Laboratories, and it would be a very good symphony. There are countless outstanding musicians, both vocal and instrumental. Its phenomenal. Its true at Los Alamos, also. And its true of our professional people as a whole in Albuquerque. Up the street is a dentist whos a fine French horn player. We just have a beautiful customer base. My biggest regret is that the kids grow up. Kids come in as elementary and middle school students ; they grow in their music and chronologically. Then they graduate from high school and disappear from the screen. What is a distinct challenge to this business? The mass merchandisers have discovered our product line and can sell it for less than I can buy it. But theres an enormous difference in quality. Theyre bringing in product manufactured in third world industrial nations that dont have the technology needed to produce first-quality instruments. They could catch up in several years. But currently the product doesnt meet the standards needed for success for the students.
