This is a fun and rewarding business to own and operate, it allows the owner to fully express their creativity and to make enough money to live in Hawaii’s paradise.

 

They closed for a short time in the spring of 2020 due to the Covid-19 virus and after reopening in May their sales have bounced back stronger than before: sales during the 6 months of July to December 2020 were 20% higher than the same 6 months in 2019; perhaps the Covid-19 recovery has begun.  Gross margins are up to 72.1% during the full year of 2020 vs 71.3% in 2019.

 

Located in Hilo, Big Island of Hawaii this business has been offering quality custom art framing and art sales for over 40 years is being offered for sale due to the owner’s retirement.   Serving both the local residents and tourists alike this business offers a buyer the following:

 

• Consistently profitable

• Easy and fun to operate – great long tenured employees

• Business model and great staff allow the current owner to take 5 to 6 weeks of vacation per year

• Great location, close to many customers, with plentiful free parking – especially important in Hawaii

• Business is extremely well known and highly regarded

• Interesting and fulfilling work; not boring at all

• Offers the owner the opportunity to utilize his/her creative skills in the design of framing and art sales

• Owner receives great joy from the creativity in the job and from customer satisfaction

• Owner works a relatively small number of hours and makes enough money which allows him to have lots of time to enjoy Hawaii’s paradise and lifestyle.

• Great investment and market base to expand into other related products and services

• $75,000 of hard assets at replacement value.

• $55,000 of quality inventory included in the price

• Priced at only 0.87 times SDE plus Inventory

 

COMPANY

Listing ID: HI frame

Title: Hilo, HI – Art Framing & Gallery

Location: Hilo, Big Island of Hawaii

Type of Entity: Corporation

Years Established: 42

Industry: Customer Art Framing and Art Sales

 

FINANCIAL SUMMARY

     2019 tax return

Revenue: $355,000

SDE: $62,786

 

     2020 Quick Books

Revenue: $348,893

SDE: $54,518

 

OFFERING SUMMARY

Asking Price: $125,000

Inventory included in the Price: $55,000

Tangible Assets (F,F&E): $75,000, replacement value

Non-Compete:  5 years

Training:  2 weeks; 30 hrs./wk.

Sale Reason: Retirement

 

LOCATION DETAILS

Status: Leased

Monthly Rent: $3,600

($46,800 per year; 1.20 per sq. ft. per month)

Sq. Ft.: approx. 3,000

Lease Expiration Date: 12/31/23

Other Location Info: Business owner is also landlord

Beautiful facility with plentiful free parking, close to customers

 

EMPLOYEES

3

 

COMPETITION

Limited, they believe they have a 65% local market share

 

EXPANSION OPPORTUNITIES

 

• More aggressive marketing could result in 20% revenue increase.

• Currently they have no web presence and having one could help grow revenue.

• Increased sales of digital artwork

• Digital printing of artwork, like Giclee.

• Offer art classes.

 

TRADING HOURS

Monday to Friday: 10 am to 4 pm and Saturday: 9 am to Noon; closed Sundays

 

This business is being offered with a productive inventory of framing materials and art for sale, state-of-the-art framing equipment, training by the seller and a long-term covenant not to compete. 

 

Is now the time to express your creativity and to live in Hawaii’s paradise?

 

Contact us for a detailed Confidential Business Profile.