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THE MUSIC TRADE REVIEW
CREDIT—THE BASIS OF BUSINESS HEALTH.
(Continued from page 3.)
The expansion of business, however, must be developed along correct merchandising lines.
If the importance of credit obligations is trifled with—there is danger ahead. To paraphrase the
old adage, "the time to lock the stable door is not after the horse is stolen," and it behooves business
men to give close consideration at the present time to the matter of credits whether in the wholesale
or retail fields. When the demand for musical instruments becomes active and competition is keen
there is too great a tendency towards looseness in the essential details that contribute to business
health, which brings *sad results later on.
On every side we hear talk of "preparedness," and it is a timely subject with a special signifi-
cance for the wise business man—now is the time to keep a firm hand on the financial helm, so that
the business bark can weather the storms of prosperity as well as adversity.
It is a well-known fact that the houses which are achieving permanent success in all lines of effort
are those that meet their obligations promptly and that exercise a close supervision over their credits,
to the end that the financial health of the business is not impaired.
way in order that this country may be in a position, through the
Bureau of Foreign and Domestic Commerce and by co-operative
organizations among- manufacturers themselves and by the pains-
taking and earnest efforts of the individual producers to effect an
organization which will be able to secure and develop American
foreign trade in competition with Great Britain and Germany and
other industrial countries.
"At the present time the United States is receiving orders from
almost every market in the world for all kinds of goods, because
our competitors are not in a position to supply their normal share
of the trade with the oversea markets. After the war the American
producers will be fighting—at least, so we are warned—to retain
their trade against determined trade competition. Now, until
American producers develop their foreign trade organizations, im-
prove processes to meet foreign requirements as to price and
quality and master the problems connected with export financing
and export shipping, they will find it difficult to meet such competi-
tion successfully."
E
IGHT THOUSAND two hundred and ten dollars' worth of
business done in one month at a total cost of nine hundred
and twelve dollars, or, on an 11 per cent, basis, is a record that the
Barnes Music Co., of Los Angeles, thought enough of to make
public, and in view of the average cost of doing business in the
music trade and when such an average may be arrived at with
any degree of accuracy, the record is one of which the company
may well be proud. During the month $1,740 represented the
amount of cash taken in. In other words, $828 cash in excess of
the selling cost. It must be taken into consideration that the record
was made during December; that the concern occupies a prominent
location, but at a low rent; that it had some special offerings to
make and employed no salesmen beyond the members of the com-
pany itself. Though the circumstances were naturally out of the
ordinary, an 11 per cent, selling cost is sufficiently unusual in the
music trade to make it worthy of earnest consideration. Were
that figure really a standard in the trade, the path of the piano and
music dealer would be one of roses, instead of sharp rocks, as is
now frequently the case.
Meanwhile during the same month of December another
Western dealer, F. Gilbertson, of Devil's Lake, N. D., hung up a
new record in advertising results, when he used 1,080 inches of
space in the newspapers of Devil's Lake and surrounding towns
for featuring a pre-Christmas sale of pianos and disposed of 153
instruments in 30 days, or at the rate of over five a day. The total
cost of the advertising campaign was $900, thus averaging less than
$6 per piano. Mr. Gilbertson is located in the wheat belt where
prosperity is rampant, which may account for the unusual volume
of sales, but full credit is due him for seeing the opportunity and
for advertising and going after it properly. Meanwhile, that record
of low advertising cost per piano still stands.
T
HE present musical season has been notable for the number of
pianists who have been heard in recital, and it is noteworthy
that the dealers who have taken advantage in an advertising way
of the visits of these artists by featuring the pianos they played, and
which they handle, have had splendid results in a business way.
GETTING DOWN TO PLAIN PLAYER FACTS
The education of the public along player lines is a necessity for the expansion of the player business.
There is no doubt of that; and education of the piano merchants and salesmen is also a vital necessity,
because through them will come a powerful force in the education of the public; and right here we wish to
remark that we have produced a line of books upon the player-piano which comprehensively covers the entire
player situation.
In this respect this trade newspaper stands alone, for it has been the principal source from which player
information has been available for piano merchants and salesmen for a period of years. Our latest book,
"The Player-Piano Up to Date"
is the best of the series. It contains upwards of 220 pages of matter bearing directly upon the player.
Every piano merchant and piano salesman should have a copy of this book within easy reach. It gives
to readers a fund of information not obtainable elsewhere.
It contains a series of original drawings and a vast amount of instructive and educational matter, as well
as a detailed description of some of the principal player- mechanisms.
It costs $1.50 to have this book delivered to any address in the United States, and your money will be
refunded if you are not satisfied with the book after examination. No one yet has availed himself of this
opportunity. Foreign countries, 15c. additional should be added.
Estate of EDWARD LYMAN BILL, Publisher
373 Fourth Ave., New York