|High Quality Fine Art Giclee Printing Business|
NCListing DetailsOffice ID: CANVAS1
Listing Broker: Jeff Snell, M&AMI, CBI, ABI
Listing Price: $125,000
Gross Revenue: $192,613
Cash Flow: $6,281
Inventory Included: No
FF&E Included: Yes
Real Estate Included: No
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:Seller will participate in commercial lender/SBA Seller financing requirements.
Reason for Sale:True Retirement.
Training:Seller will provide reasonable transition assistance at no additional cost.
OperationsYear Established: 2007
Last Acquired: 2010
Form of Ownership: S Corp
Employees (full-time): 1
Employees (part-time): 2
Business Hours: M-F 9am-3pm and by appt.
Business Description:This business provides high quality Giclee reproductions on name brand canvas or paper using top of the line large format inkjet printers. Focusing on the high-end of the market, clients are located all over the world. Owner recently added metal prints. This business is currently operated from a 2140 square foot office condo owned by the seller or could be easily relocated. The business has a modern website that supports sales, customer service and production requirements as well as a Facebook presence. The business offers art scanning and digital enhancement services. The current owners, who purchased the business in 2010, have built the business by focusing on the highest quality product while creating relationships with their customers rather than chasing high volume low margin transactions with price shoppers. Current production equipment is capable of supporting increased sales of at minimum 300%. The business does not offer credit terms resulting in zero bad debt and timely cash flow for the business. With no retail hours and significant growth opportunity available, the new owners can be confident in the businesses stable sales that successfully weathered the financial great recession. The asking price includes inventory and furniture, fixtures and equipment. The reported owner benefit does not include a recast adjustment to marketing of $15,000 which would increase owner benefit to $6,281.
Historical Summary:The business was established in 2007 and purchased by the current owners in 2010. Initially the go to market strategy was to be a low price leader with average quality. The current owners moved the product and customer up market while raising prices appropriately. The business is now known as a fine art supplier of Giclee reproductions.
Owner Qualifications:Buyer should have general business and accounting skills. An interest in art or an art degree is ideal including an interest in photography. Familiarity with computers, photo editing required or to be hired in. Sales and marketing ability a must or to be hired in.
Competition:There are a large number of online competitors that compete primarily on price. To do so they use lower quality paper and canvas, high-volume printers substitute off brand inks that render the end product non-archival, sub-museum quality. These vendors typically do not provide scanning and digital editing services. Those that do provide high quality canvas prints typically limit the range of products available. This business prints on brand name products with brand name first quality inks on high end printer/plotters. The business sources top end supplies without regard to distribution channel or manufacturer resulting in a best of breed solution.
Potential Growth:Current owner works approximately 20 hours per week. Increasing hours dedicated to sales and marketing would yield increased sales/profit. Seller feels that working 40 hours per week would allow sales and profit to increase dramatically. Participation in art societies/guilds, gallery events, street fairs, art walks and other events where artists gather can be utilized to generate new business. Buyer may choose to add products such as ASI specialty advertising items (mugs, shirts, coasters, etc.)
LocationType of Location: Office Condo
Monthly Common Area Maintenance: $140
Square Footage: 2140
Facilities:Non-heated, weather tight storage are of 560 square feet in addition to the 2140 heated square feet. The most recent appraisal was $195,000 and is being used to estimate the current value. The commercial property will be sold at bank appraised value.
Last Updated: Feb 14, 2018 / 5:16 PM
Financial Information Current as of: Dec 18, 2015 / 1:59 PM