Art Dealership With Gallery For Sale

Business description

This exclusive art dealership has been established since 1972 and is one of the foremost dealerships and galleries in the West Country. The business has a client base of twelve key supporting artists whose work the gallery is proud to represent. It organizes around nine or ten exhibitions per annum that generate a large percentage of the revenue streams for both the artists and gallery alike.

Each exhibition is carefully structured with beautiful, high quality brochures being sent out to known art collectors approximately two weeks before the event. This activity may be supported by additional coverage in the Country Life, The Week, The Daily Telegraph and The Spectator. There are already a number of exhibitions booked for the remainder of this year and into 2010.

The gallery also displays a range of works some of which are sold on a brokerage basis and some of which is owned by the business itself. Those that are owned outright can also be purchased by the buyer of the gallery for an additional fee subject to negotiation. Although the gallery has no shop window it is easily accessible from the high street and is open most days.

Key Opportunities:

The existing director has maintained the business at a size suitable for his owns requirements. A new owner could easily increase income levels by buying in additional stock, increasing the level of advertising and attracting new artists and a wider customer base.
In addition to which there is a real revenue opportunity to be had by attending the large number of art fares that take place all over the UK on a regular basis.

Financial Information:

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler. Revenue streams vary between £400,000 and £700,000 depending on the number of exhibitions. A full range of accounting information will be made available for a prospective purchaser.

Property information

Property:

Leasehold

Lease terms:

The company has a three-year lease with two and a half years to run at a modest rental of £7500:00 per annum.

Location:

The company trades from beautifully appointed premises located in a well-known and popular Cotswold town. The gallery is positioned slightly away from the high street and occupies three storeys of a recently fully refurbished property with secured access. There are three showrooms all of which have full gallery lighting systems. There is a comprehensive security system. The gallery is accessible to passing trade and presently opens three days a week plus Saturday afternoons.

All other viewings are by appointment. The company has a three-year lease with two and a half years to run at a modest rental of £7500:00 per annum. The purchaser will have to renegotiate the lease at the end of this period, however the landlord is extremely amenable and this should not present a problem. It is important to mention that the premises could easily be residential and there is ample room for the purchaser to make use of part of the premises as a flat.

Other information

Competition / Market:

The business does have its own website and occasionally advertises in up Country Life, The Week, The Daily Telegraph and The Spectator. The majority of its clientele hear of the company because of its reputation.

Reasons for selling:

After a long and successful career the director has decided to retire and wishes the business to continue to flourish under new ownership. He will be extremely willing to stay closely associated with the gallery for an initial period of six months to effect a smooth and professional transition and to be available on a consultancy basis thereafter.