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.”
Hobgoblin Music has received a ringing endorsement from none other than Sir Paul McCartney, who praised the team at its London store: “I have many favourite music shops that I like to go into but possibly my most favourite is Hobgoblin Music London. The staff there are so helpful and friendly, and we always have a laugh. There are lots of guitars so, for people like me who like guitars, it is like walking through heaven.”
Founded in 1976, the business began as a market stall after Pete and Mannie McClelland spotted a gap in the market for hard-to-find and unusual instruments. From a barn-based shop to a nationwide chain, Hobgoblin has grown into a central hub for musicians across the UK, employing over 50 staff — all of whom are active musicians — and supporting grassroots music through sponsorships, live events and folk festivals.
Despite strong online growth, Hobgoblin remains committed to its physical stores, which provide the tactile, immersive experience essential for trying out new instruments, from Irish bouzoukis to sitars, hammered dulcimers to mandolins.
Nicola Rain added: “Trying out new instruments in a shop is such a key part of the musical journey. You can’t replicate that connection — or the expertise of a passionate staff member — through a screen. That’s why we’re asking the public to help us keep Hobgoblin on the high street.”
To take part in the fundraise, supporters must register on Crowdcube. Entries close on 16th June 2025.
For more information, visit hobgoblinmusic.co.uk or the Hobgoblin Music Crowdcube campaign page.
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Hobgoblin Music launches first crowdfunding campaign to keep music shops alive on the high street