MergerPlace

Reduced Price-Specialty Art Gallery

Virginia


  • Asking Price: $75,000
  • Gross Income: $199,348
  • Cash Flow: $23,832
  • Real Estate: Not Disclosed
  • Inventory: $6,544
  • FF&E: $11,936
  • Listing ID: #200421
  • Established: 1981
  • Employees: 1 FT/1 PT

Business Description

Whether you are looking for a specialty gift, need custom framing for your portrait, or just want to browse for a new art piece for your home, you have come to the right place. Successfully operating 36 years in one of the most desirable areas of Hampton Roads, which features a broad customer base, including students, tourists, military and long-term residents. This comfortable, inviting and pleasing environment feels more like an art gallery than your typical gift and framing shop. On many occasions, there is a highlighted new artist section, featuring many of the emerging talents of the local artists around the area. Due to the long running nature of the business, the store has a loyal client base, many of whom attend private art showings in the store and their sponsored outside community art events. The business has also developed several corporate clients and supplied art and frames for their public gathering areas and hallways. The dedicated staff is small in number, professional, and very customer-driven which has enabled the business to develop personal relationships with its customer base. Newsletters are sent to the customers to keep them aware of upcoming events, new artists work and special offers.

Don’t miss this opportunity to become the owner of an established, profitable and successful specialty art gallery and framing business.


Business Details

Primary Business Category: Retailers - Miscellaneous
Location: Virginia

Company Information

Year Established: 1981
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 1 FT/1 PT

Financial Information

Asking Price: $75,000
Gross Revenue: $199,348
Cash Flow: $23,832
FF&E: $11,936
Inventory: $6,544
Seller Financing Available: No

Property Information

Facilities:

This art gallery and framing store has an attractive assumable lease in place, has been tastefully appointed with museum-like track lighting, and operates in a fully occupied shopping center located on one of the busiest traffic corridors in Hampton Roads. The retail space features 2,250 square feet at a monthly lease of $3,500 and is conveniently located which allows the business to attract customers from a wide population base.

Growth & expansion opportunities:

This business has been successfully operating for over 3 decades and has a solid track record of profits and returns.

Reason for selling:

Retirement.

Support & Training:

This art gallery has the best selection of local, original art in town and features changing shows by guest artists. Hampton Roads has many fine artists and the gallery represents the best in a variety of mediums and styles from traditional watercolors, contemporary scenes and abstracts in oil, acrylics and water media. The store has become known as the best source for local original art in the area and the business has been honored to win “Best Art Gallery” two years running in a local survey. The custom framing department is the local choice to shop for picture framing. The frames enhance the art in many local homes, museums, offices, restaurants and health-care facilities. With over 3,000 different frame samples from which to choose, we can truly find the right frame for any art project from old master drawing to contemporary abstract painting. The business has also been honored to win “Best Picture Framer” in the annual local survey. Simply put, this specialty art and custom framing shop is the best place in town to purchase local original art and quality framing of your portraits.

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Business Listed By:

Hal Feder

Murphy Business Brokers