Description of the business for sale
These two contemporary art galleries enjoy an enviable reputation as the leading mid-to-upper end contemporary art galleries in California's famous Napa Valley Wine County. These galleries, started in 1987 by a husband and wife, are located a prime retail space in a tourist-driven town known for its world-class dining, spas and relaxed wine country environment.
This sole proprietorship has been a lucrative business for its owners for many years. In recent years, owners discretionary earnings has ranged from $200,000 to $300,000. These earnings came despite the owners decision to take more leisure time (21 weeks off in 2006) for vacation travel. New owners will find plenty of opportunities to grow this retail operation: the business is located in a growing tourism village with all the right ingredients to continue to support these fine art galleries, including excellent demographics and a vibrant and growing retail sector. The average selling price in these galleries is $2,000, from limited edition prints available for as little as $400 to as much as $12,000 for original works of art.
Competition: With two prime retail locations and a diverse inventory of affordable contemporary artwork from artists around the world, these galleries occupy a lucrative niche as the leading mid-to-upper end contemporary art galleries in the Napa Valley. There is only one other competitor of significance in town, but this gallery serves a different niche and clientele.
Support / Training provided by seller
The sellers will assist the buyer for an agreed upon period of time through the transition to new ownership.
Employees: 3 full-time. 2 part-time.
Reason for Selling: After 17 years of ownership, the sellers are retiring.
Growth Potential and Expansion: These galleries offer new owners plenty of opportunities to grow the business: The community has a vibrant, growing retail center with excellent demographics. New owners with the energy to grow this business can do so by injecting new advertising and marketing ideas while providing a more dedicated and hands-on sales effort. New owners will also want to consider leveraging the business' strong local brand identity through its web site to generate more sales.
Description of the facilities
The business leases two buildings in prime retail locations in the same community: a 1,650 square foot gallery (lease to expire in 2018) and a 2,350 square-foot gallery (lease to expire in 2009). Also included in the sale is an estimated $25,000 in furniture, computer equipment, and other office equipment necessary for the operation of the business.
Additional Financial Information:
§ Financing: Cash offer is preferable, but sellers will consider financing a portion of sale.
§ Furniture, Fixtures & Equipment: $25,000
§ Inventory: $650,000 (not included in price)