As I reported in last month's Industry Update, the company recently acquired The Audio Lab, a longtime dealership based in Wilmington. As this issue went to press, Audio Advice was getting ready for Audio Advice Live, the show they put on annually at the Sheraton Raleigh Hotel. Just before showtime, Stereophile spoke with Audio Advice CEO Scott Newnam and COO Gregg Chopper via Zoom. We asked about the expansion and their approach.
For years, the number of bricks-and-mortar hi-fi dealerships has been shrinking. Audio Advice, though, has been expanding via acquisition; they have stores in Raleigh, Charlotte, and now Wilmington. They're looking to expand further and considering locations outside the Carolinas.
Audio Advice was founded by Leon Shaw in Raleigh in 1978 as a classic two-channel dealership. In time, it expanded into home theater and eventually custom install and smart home systems. Today, the flagship Raleigh location has a showroom of 15,000ft².
In 2008, Audio Advice reached a deal to acquire Charlotte's Innovative Systems. Jim Williamson, Innovative Systems' longtime proprietor, "wanted to be a key part of a growing company," Newnam said. After the acquisition, Williamson continued to run the Charlotte store, but over time, his role changed. Today he oversees training, human resources, and operational systems for Audio Advice. Prior to the Wilmington deal, for more than five years, Audio Advice.
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