Business Description

Castle Rock Music is a gathering space for beginner and professional musicians. The majority of the business is private and group lessons. We have 35 instructors, 15 lesson rooms and teach over 400 lessons a week with students of all ages and levels. We have toddler classes, an orchestra class, host student “gigs” in local bars and restaurants, and summer band camps. The store also does instrument repair, instrument sales, and PA rentals. I was motivated to begin this business by my passion for teaching music, serving youth and building communities. I also had extensive experience working in small business music shops and the town of Castle Rockhad an opening for this kind of service. We opened in 2005, with just 2000 sq ft and 3 lesson rooms, and have expanded to 3600 sq ft in the same building with 15 lesson rooms. I am 51% owner and general manager with 2 business partners who split the other 49% share.

The biggest challenge for the business has been helping the downtown area, where the shop is located, become a vibrant center of commerce. The town of Castle Rock was hit hard during the recession and there were many empty storefronts and lackluster businesses. I knew that a more vibrant downtown would not only support my own business but make life better for everyone. I got involved with the Downtown Development Authority, and eventually ran for town council. I am currently Mayor Pro Tem. I have worked diligently to enhance the downtown community by building a community park, enhancing walkability and encouraging urban housing projects. All of this has made an enormous difference for all the downtown businesses, including my own. The increased visibility and foot traffic has helped Castle Rock Music become a premier lesson service with 35 degreed professional music instructors, 2 full-time and 2 part-time employees. This community of musicians is what I am most proud of but is also the social component that is most at stake in an age of social distancing.

What is the purpose of this loan?

My business has been absolutely crippled by the COVID-19 pandemic. In Colorado, Gov. Polis issued executive orders limiting gatherings of 10 or more people and halting all non-essential personal services. Students and instructors can no longer come to the shop for lessons, completely halting the store’s major source of income. Without the foot-traffic of students, parents and even the other downtown businesses, our instrument and accessory sales have diminished to almost nothing. I cannot pay operating costs and, without financial relief, my store will likely collapse entirely within weeks. This loan will give me much needed time and funds to adjust operations so that we can ensure the safety of our customers and staff and meet the health guidelines from the state. This loan will be used to pay mortgage, utilities, payroll, and all other operating costs necessary to stay afloat while we monitor and adjust services as appropriate to the new market. We need to stay connected with our customers and students so I am exploring ideas for remote lessons, physical modifications to the lesson rooms, and remote performances, among other options. We have inventory in stock and will be conservative with purchases until the market stabilizes. As the national situation seems to change daily, I need some freedom from the growing debt, the time to understand how to best proceed and access to funds so that I can adjust our services quickly and effectively to the new market.