Best Buy began in 1966 as Sound of Music before changing its name to Best Buy.
Richard M. Schulze and James Wheeler founded the company in Saint Paul, Minnesota, as an audio-focused retail business. It initially sold stereo equipment and operated under the Sound of Music name.
The company adopted the Best Buy name in 1983 while broadening its merchandise and changing its retail strategy. Its stores later became major destinations for consumer electronics, including computers, televisions, appliances, and entertainment products. The name change marked a shift away from a narrow audio identity toward a broader value-oriented electronics business.