Business For Sale

Fine Art Gallery Perfect for Events

Omaha, NE
Douglas County


Asking Price: Annual Revenue:
$110,000 $371,430

Retail: Art, Photography, Accessories


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RE: Fine Art Gallery Perfect for Events Broker: Cortney Sells
Owner Financing is Available!
30%

Quick Facts

Asking Price: $110,000
Annual Revenue: $371,430
Net Profit: Not Disclosed
Cash Flow: $8,761
Total Debt: Not Disclosed
FF&E: $121,338
Real Estate: Not Disclosed
Year Established: 1980
Employees: 10
BBN Listing #: 148234398
Broker Reference #: RET041

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Business Overview:

Located in a popular Omaha neighborhood, this fine art gallery is the perfect space for weddings and events. Begun in 1980, the current owner has worked to build decades-old relationships with artists, and the gallery currently houses artwork from over 100 artists across the Midwest and Southwest. The seller is looking to retire, and has started to step back from the business over the past couple of years.

While the owner still maintains relationships with customers and artists, puts together shows and handles some accounting, there are key employees in place. A manager with 10 years of tenure is responsible for the day-to-day operations of the gallery and handles many of the seller’s duties. To assist the manager are 2 Full Time personnel and 7 Part Time personnel. A mover is subcontracted when large pieces are needing transportation.

Artwork is displayed within the roughly 6,500-square feet facility, with plenty of space to hold small weddings or events. The seller does work with some preferred vendors, and space rental prices range from $1,200 to $1,600. Seating accommodates 150, while cocktail parties can fit 200 guests.

While the current owner does not actively need to search for new artists, there is room for growth in other areas. A buyer could consider working with corporations and banks to purchase pieces for their offices, or with interior designers to assist in staging or selling pieces to homeowners doing remodels. At a list price of $110,000 and a down payment of only $33,000, this established gallery has great possibility for a new owner.

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Property Features and Assets:

Business Assets: $379,838 Equipment: $121,338 in furniture, fixtures, display equipment and other odds and ends Intangible Assets: Relationships with artists, community reputation Startup: $8,500 Inventory: Rotating – average retail price of inventory at any one time is $1,000,000; wholesale value of about $250,000 *amounts may vary Building: ~6,500 square feet with room to seat 150 or 200 for a cocktail party.

Market Competition and Expansion:

Demographics: Displaying artwork from over 100 artists across the Midwest and Southwest. Commission: When a piece is sold, the gallery takes 30% and the remaining 70% goes to the artist. Growth Opportunities: Venue for weddings/events, advertise to corporations for art in offices, offer framing.

Reason for Selling:

Retirement and health.

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

Documents:

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