Best Buy originally opened as Sound of Music in Minnesota in 1966.
Richard Schulze and James Wheeler founded the company as an audio-focused retail store in Saint Paul. Its early business centered on stereos and other consumer audio equipment rather than the broad electronics range associated with Best Buy today.
The company changed its name to Best Buy Co. in 1983. That same period brought a major shift toward a wider selection of consumer electronics and a warehouse-style retail approach.
A common mix-up is confusing Sound of Music with Musicland, another American music retailer. Best Buy’s original name referred to the store’s audio specialization and was not retained as the chain expanded into computers, appliances, mobile phones and entertainment products.