David Woo stepped in to be the owner of La Jolla Music in 2012, when the store was being sold and at risk of closing. Now, after more than a decade, it is his time to move on.
Woo’s three daughters all grew up learning from teachers at La Jolla Music. It is part of why he felt it important to maintain its legacy. Now, he wants to retire and spend more time with his wife, who recently retired.
Since Woo took ownership, he moved the business into a larger, 6,000-square-foot building with more than 20 studios. There are 12 resident music teachers and several other spaces for community members to come to teach or practice in.It is a priority he wants to see maintained by the next owner, which is why music teachers like Michael Ball are stepping up.
Woo is asking for $200,000 as a down payment. He said it covers the value of all of the items in their retail area. Ball said of the teachers trying to match that price tag, one has some personal funds they can put forward, one is trying to get loans and another has started an online fundraiser asking the public for help.
Woo initially gave the teachers until June 30, but he has since extended that to July 30 in hopes they can come up with the money. He also mentioned that if one or all of them are able to become the new owners, he will reinvest that $200,000 over the next three or four years by helping to train them on running the business.
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