Musical Instrument Retailer
FinancialsAsking Price of business :$275,000
Included In Asking Price :Furniture, Fixtures & Equipment: $40,000
Annual Sales :$775,000 Cash Flow :$130,000
This business is one of the premier musical instrument retailers in Southern Maine, with a history of consistent revenue and cash flow. The business enjoys a well-known brand and reputation as well as a spectacular location with high traffic. Currently, the owner maintains significant flexibility in terms of involvement in day-to-day operations, though a new owner could focus his/her efforts in ways to decrease overhead and/or increase sales. This business represents an excellent opportunity for a buyer with a love of music to bring their passion to work, to help develop new musicians, and to grow revenues on an already solid base of business.
General InformationYear Established :1970
Employees :1 FT / 3 PT
Facilities :The store leases its retail location, which provides substantial exposure to high volumes of vehicle and foot traffic. The open space is well suited for the business, and allows for ample product selection on the floor without seeming either cramped or cavernous. The business currently leases its space on a month-to-month basis ($2,700 / month), as is the business owner’s preference, and allows the business to maintain occupancy costs of 5-6% of revenue.
Business Location :Maine
Competition & Market :
Based on public data, there are approximately 30 similar businesses in Southern Maine, with total annual revenues estimated at $10,000,000. The business maintains a niche market, in which it is somewhat protected regionally by superior product selection, supplier agreements with leading market brands, and a well-regarded reputation. The musical instrument market, per Bureau of Economic Analysis data, has grown a total of 28.5% since 2013, including 12.2% in 2016.
Growth & Expansion :
A motivated, passionate new owner would have a unique opportunity to build upon an already profitable base of business. Potential revenue increasing opportunities for a new owner to pursue include:
• Group lessons, to generate direct revenue and additional sales;
• Website / SEO development to improve the store’s online presence;
• Tracking customers, musicians, etc. with relationship management systems.
The business has lagged industry growth, and could benefit from a focus on sales & marketing.
About the SaleFinancing :
Financing to be determined on an individual basis. Working Capital Needed $25,000 Inventory $125,000. (Estimate)Support/Training : The seller will provide transitional training to a new owner.
Reason for Sale : Seller desires to spend more time pursuing other opportunities.
Maine Business Brokers
Before we can provide you with more information about our listings we need your agreement to confidentiality and your registration with us as a potential buyer. If you are not yet registered with us, please follow the link above to the Registration page. If you are already registered with us, follow the link to the inquiry page or contact the broker with whom you have been working.