Hobgoblin Music, the UK’s leading acoustic and folk instrument retailer, has launched its first-ever crowdfunding campaign in a bid to secure its future and expand operations — with an endorsement from music legend Sir Paul McCartney.
The family-run chain, which is celebrating its 50th year of trading, is aiming to raise £190,000 through equity crowdfunding platform Crowdcube. In return for a 9.5% stake in the business, the company plans to use the funds to boost inventory of high-demand, high-margin products, which it says will help increase profitability and sustain its high street presence.
Hobgoblin Music operates nine stores across major UK cities including London, Bristol, Leeds, Brighton, and Edinburgh, alongside a central warehouse and nationwide mail-order business. Founded in 1976 by Pete and Mannie McClelland, the business started as a market stall selling rare and traditional instruments, and has grown into a vital part of the UK’s grassroots music scene.
Now led by the founders’ daughter Nicola Rain, who serves as Executive Director, the company remains focused on preserving in-person music retail. “The experience of visiting a music shop and benefitting from the expertise of other musicians can’t be replaced by online shopping,” said Rain. “We’re determined to keep music shops alive, and firmly believe the country would be poorer without them.”
The campaign has received a high-profile boost from Sir Paul McCartney, who called Hobgoblin’s London store “possibly my most favourite” music shop. “The staff there are so helpful and friendly, and we always have a laugh,” McCartney said. “For people like me who like guitars, it is like walking through heaven.”
Hobgoblin’s commitment to community is reflected in its staff — over 50 employees, all of whom are active musicians — and its support for local festivals, live events, and folk music sponsorships. Despite the broader decline of physical music retail, the company maintains that hands-on interaction with instruments remains vital for musicians.
“Trying out new instruments in a shop is such a key part of the musical journey,” said Rain. “You can’t replicate that connection — or the expertise of a passionate staff member — through a screen.”
The crowdfunding campaign is open for early access and will close on June 16, 2025. Supporters can register to invest through Crowdcube.
More information is available at hobgoblinmusic.co.uk and via the Hobgoblin Music Crowdcube page.
