When Jack Long opened his first musical instrument store in Toronto in 1956, he was a skilled jazz trumpeter without a clue about business. “I didn’t even know what an invoice was,” he often said. Mr. Long learned the hard way. When sales were slow, he and a drummer friend, Jack McQuade, started giving lessons in the store’s back rooms. When they discovered colleagues often wanted to borrow instruments, Mr. Long invented modest rental fees: “three dollars if it was small, four dollars if it was bigger.” Together as partners, the two Jacks grew the company until 1965, when Mr. McQuade decided to pursue drumming full-time and sold his portion of the firm to Mr. Long. Today, the family-owned Lo...
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