A gallery and framers has been trading successfully for 14 years in the centre of a county town in Moray. It is the only framer and gallery in the town and the surrounding area. It has a large customer base which is expanding with the growth of the local population.
The business is for sale and so are the premises, although each may be for sale separately if a buyer preferred to lease the premises or move location.
- Asking Price:
- £48,000 Furniture / Fixtures and Inventory / Stock included
- Turnover:
- £78,000
- Net Profit:
- On request
Property Information
- Property:
-
Freehold
- Location:
-
Located in the very centre of Elgin close to car parks, as well as bus and railway stations.
- Premises Details:
-
The gallery comprises of the main customer area of around 4.6 x 8 metres and the framing workshop downstairs at 4.3 x 3.3 metres. The workshop is fitted out with shelving and storage and all framing equipment including Morso, Underpinner and CNC mountcutter with dedicated PC. The premises fall under the Scottish Small Business Bonus Scheme with a rateable value of £5,600 so there are no business rates to pay.
The premises are available to purchase as a separate negotiation at offers around 65k allowing a complete turnkey solution to take over a well established and reputable business that has the monopoly in the catchment area, and with a loyal customer base.
The premises may also be available for lease.
- Size in square feet:
- 540 sq ft
- Planning Consent:
-
NA
Business Operation
- Management type:
- This business is owner operated.
- Expansion Potential:
-
In addition to the business, the premises are for sale as a separate negotiation, although the business can be sold separately if the new owner wished to expand into larger premises.
The current owner as a sole trader has endeavoured to keep the turnover below the VAT threshold. The current owner has not needed to advertise since 2014. There is great potential to expand the business further, including hosting more exhibitions and workshops. We have previously hosted artists during the North East Open Studios (NEOS) annual exhibition. We also curated an Autumn Festival of Art, hosted by the Mansefield Hotel which featured over 30 artists. A great number of local artists are regular customers along with several local art clubs which could be offered display or exhibition opportunities.
- Competition / Market:
-
There are no other framers in Elgin or the greater catchment area. Our customer base comes from as far as Banff in the East to Nairn in the West. As well as Elgin itself, we have significant amount of business from the surrounding towns, particularly from the military bases in Lossiemouth and Kinloss. The population in the greater catchment area is currently estimated to be around 86k and is growing steadily.
- Reasons for selling:
-
The owner is now approaching 70 years old and has just welcomed his first grandchild. He feels the time has come to dedicate time to his family and hand over to a new owner(s) who will continue to build the business and look after the faithful customer base.
- Trading hours:
-
Currently Wednesday to Saturday from 10:00 am til 4:00 pm. Prospective owners are at liberty to set their own opening hours.
- Employees:
- One part time contractor two days per week who is willing to stay on if new owner wishes.
- Years established:
- 14 years
Other Information
- Support & training:
-
Current owner is willing to offer full on the job training to Fine Art Trade Guild Standards and introductions to both regular and business customers. This is likely to be 3 to 4 months or as mutually agreed.
- Furniture / Fixtures value:
- £14,800 - included in the asking price
- Inventory / Stock value:
- £10,550 - included in the asking price
- Website:
- Login or register to view link
- Relocatable:
- This business can be relocated
