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 This
established fine
art gallery and custom framing business offers both original and
limited edition art in oils, acrylics and water colors in a wide
variety of themes. The
owner has exclusive buying relationships with a number of artists.
Additionally, the gallery offers one-of-a-kind hand crafted
pottery. Located in the
fastest growing area of greater Cincinnati, the gallery is well
positioned for developing business growth.
The economy and the owner’s limited involvement during the
past two years have impacted revenues and profitability.
BUSINESS HIGHLIGHTS
- Established
over twenty-five years
- Excellent
buying relationships with some of the country’s leading
artists
- Knowledgeable
employees wish to remain with new owner
- Strong
customer loyalty among residential and commercial accounts
- Custom
framing adds value to fine art
- Located
in Cincinnati’s hottest growth community
PURCHASE PRICE
The
business is offered as an asset sale, free and clear of all debt and
liabilities for $140,000. Terms
are $75,000 cash at closing, plus seller financing of $65,000 for
five years @ 6% interest.
FINANCIAL SUMMARY
P
& L Summary:
Assets Included in Sale:
2002
2001
2000 1999
Inventory @ cost
75,000
Sales
248,276 231,319
381,506
314,785
Fixtures & Equip (FMV)
25,000
Gross
Profit
153,679 137,454
245,938 186,029
Trade name,Cust. list
50,000
ACF 38,336
10,999
123,658 73,153
Total
150,000
“ACF” is the
pretax profit of the business before expense of owner compensation
and benefits, interest, depreciation, and any extraordinary or
non-recurring expenses.
FOR FURTHER INFORMATION CONTACT:
KEATE PARTNERS
(513) 241-3700
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