This is a cool story. Some Canadians might remember the HMV
closure, and this other interested party buying up the leases
for the HMV locations and opening up a record biz that HMV was
convinced would have no market.
They've done well. Since that time, the internet has become
more ubiquitous, Sunrise is online, they sell products geared
for audio (turntables, etc) ..HMV did not.
A couple of take-aways from the article..
"I've had people telling me that record stores are closing for
probably ten or fifteen years now," says Robert Lawson, the
store manager at the Cloverdale location for much of its
twenty-year history. "Well, we're still here, and I'm still
here. So I think, as long as they're still making CDs and
making records, there will still be room for record stores."
Putman says he enjoys the challenge of turning around a
distressed business. "I just think they're a lot more fun than
buying a business that's just doing well." The businesses he
buys still have potential, he says, but they're not being run
correctly. "Yes, I want to make money. I don't think there's
anything wrong or shameful about it. I do business to make
money," he says. "So maybe I can sell this business, but I
would rather have the business than the money. I love the
businesses that I own."