Much of the equipment and instruments at the Folk Music Store and Folk School are going on clearance in preparation for the move to the new shop, owner Steve Daugherty said.Though Steve Daugherty calls himself retired, he still puts in a lot of time at the business he owns, the Folk Music Store and Folk School. But he’s made his money, he says, and now is looking to give back to the musical instructors and students who have allowed him to do what he loves.
In order to bring more teachers to the school, Daugherty said he’s changing the pay structure so teachers take home a much larger percentage from their lessons than they did previously. Whereas common take-home figures are around a 50/50 split between the teacher and school, he said, he’s planning to bring it closer to 90/10, with the teacher getting 90 percent.
“I gain a great amount of satisfaction in encouraging people, so the more people that can learn, the better,” he said.
And Daugherty is already planning for more people. He’s moving his business to a larger location just down the road from its current Red Bank spot.
The move isn’t just necessitated by the expected growth in staff, though. His current location at 3304 Dayton Blvd. was recently rezoned as a floodplain, meaning flood insurance is now required. Daugherty said the insurance – around $800 per month – is far too expensive for him to be able to afford.