Hobgoblin Music launches first crowdfunding campaign to keep music shops alive on the high street

The beloved acoustic and folk music chain aims to raise £190,000 to secure its future and invest in growth, with support from none other than Sir Paul McCartney.

Hobgoblin Music, the UK’s best-known family-run music store chain, has launched its first-ever crowdfunding campaign in a bid to keep its high street presence alive and thriving.

The campaign, now open for early access via Crowdcube, seeks to raise £190,000 in exchange for a 9.5% equity stakein the business. Funds raised will be used to stock fast-selling, high-margin products, which the company says will lead to a sustainable uplift in profit margins and help preserve in-person music retail across the UK.

Now in its 50th year of trading, Hobgoblin Music has built a loyal customer base with its focus on acoustic and folk instruments, hands-on service, and an enduring commitment to local music communities. In a sector that has seen a steep decline in brick-and-mortar music stores, Hobgoblin continues to operate nine shops in cities including London, Leeds, Bristol, Brighton, Birmingham, and Edinburgh, supported by a central warehouse and a national mail-order business.

The company is co-run by Nicola Rain, Executive Director and daughter of founders Pete and Mannie McClelland. She said: “I’ve been immersed in this business for as long as I can remember and I’m so proud of what my parents have built. The experience of visiting a music shop and benefitting from the expertise of other musicians can’t be replaced by online shopping. We’re determined to keep music shops alive, and firmly believe the country would be poorer without them.”