Restart Vinil began activity in 2023 in the format of an
online store selling new and used Vinyl Records and
music CDs. Gaining notoriety for offering auction sales
formats using social networks and “Pop Up” events at
Festivals and Fairs with the presence of musical shows. Restart Vinil currently uses social network and a dedicated marketplace under Restart name to generate sales.
Current Status
Restart Vinil have started sales in January 2023 making in total 40K€ in gross revenue. Restart Vinil Facebook Business page have reached 7.1m followers. As a reference, each auction or direct sale has an average reach of 4 thousand people converted into 1000 participations on average per auction. The
RestartVinil website was recently created and added another offer and an alternative sales channel.
Market
According to a Billboard report, vinyl sales grew between 2021 and 2020 (from 41.72 million in 2021 to 43.46 million in 2022). Just for reference, vinyl sales
grew by 46.2% between 2019 and 2020 and 51.4% between 2020 and 2021. In Portugal data from various sources indicate a sales number of 2.2M in 2022.
Other interesting conclusions from the report are the fact that vinyl represented 43.4% of all sales in physical format in 2022, which is equivalent to 43.46 million of 79.89 million total purchases of physical albums. It is
also curious that only about half of the people who buy LPs have a record player and that 48% of all vinyl records sold in the United States were purchased in
independent stores, while 32.8% were purchased in Internet. Restart Vinil sells vinyls from the 70s to the most recent, covering a wide age range from 16 to 60+.
Problem or Opportunity
The offer in the market for second hand music formats ( Vinyl and CD) is limited and prices are tipically quite high for the majority of the audience. Providing multi options in terms of pricing allied to the quality Restart Vinil is known for, is the go to Market. The model can be replicated to other markets (countries) on a medium term basis gaining a share of the market consistently.
Solution (product or service)
Restart Vinil situates itself in the circulate market by reintroducing and re selling previous used music formats. The new launched Restart Vinil Marketplace is attracting independent stores to sell under our brand at a comission rate.
Competitors
Restart's sales format is very different from current independent stores, having a diverse audience (from casual to collectors).
The largest sales platform will be FNAC that only sells new vinyl records, which has experienced several difficulties due to a scarce supply in the Vinyl and CD sector, at prohibitive prices for the Portuguese reality.
Advantages or differentiators
Restart Vinil brand is already recognized in Portugal as the first sop to introduce the famous auction styles via social networks. The brand is highly valuated as good quality at great prices. That exposure have been recognized by the invitations received to create the Pop Up shops where we offer our range of products in places like music festivals and council promoted events.
Finance
There are two different metrics as the sale of product:
Auction List product average sale: 6,50€
Fixed Price product average sale: 18,00€
Restart Vinil Business Model is the sale of new and used music formats, focused on vinyl records and music cds. Current chanells used are social network business page and owned Marketplace (website).
Money will be spent on
Restart main objective is to be structured as a
professional enterprise.
Creation of a company and professional structure.
Maximize and acquire stock, increasing the offer in
various online and physical sales channels.
Establish a reference store in Prime Location.
Establish partnerships and agreements with
renowned music festivals, publishers and artists.
Closing agreements with International suppliers.
Establish business models for the International
market.
Offer for investor
The percentage share for the amount of investment is set at 30%
The supply of good quality stock is short for the Portuguese market, whitout strong investment we will not be able to grow on a steady passe as oportunities of purchase of stock usually are in other countries at proibithive prices for our budget.
Incubation/Acceleration programs accomplishment
Restart Vinil is a self owned project that havent got any feedback from Acceleration programs.
Won the competition and other awards
- In July 2023, Restart was an official partner of Setúbal City Council for the Festas De Sant'iago, providing a store in the middle of the festival during the 16-day event with 20,000 daily visitors. In addition to the notoriety that the brand gained, it also featured a small Restart stage with Indie bands from all over the
country.
- In October 2023, Restart Vinil accepted the challenge of creating a Pop Up store in the UBBO Shopping Center, in the area outside the mall, which was a factor in the decision to start conversations for a physical location, due to the great success of the initiative.