This established music store offers instrument sales, rentals, repairs, and restorations. Inventory includes a wide range of musical instruments and accessories for these instruments. This store is renowned within the music community for high-quality products, product availability, and excellent service. It is considered a preferred provider for local schools and musical organizations.
The store is 2400 square feet and benefits from free customer parking. The current lease expires in 2019 and includes an option to renew. Rent, including taxes, is $3500/month. This store is open Monday through Friday from 10am-6pm and Saturday from 10am-5pm. There are currently six skilled and capable staff members, including four instrument repair/restoration specialists and two sales/office staff. Annual revenue is $700k and growing. Revenue increased by 14% over the past 12 months.
This business has multiple revenue streams including product sales, rentals, and instrument restoration and repair which remain steady throughout the year. A large portion of product sales are generated by repeat purchases for children who have outgrown their instruments and need a larger size. There are currently over 400 rental units in circulation. There are opportunities to grow this business by expanding the rental program and continuing to work with local schools and school boards.
Listing price is plus inventory.
The current owner is willing to offer a transition period to assist the new owner. This turn-key business is ideal for entrepreneurs with a keen sense for business and experience in sales and marketing. It is an unique opportunity for those with a general interest in music.
Potential buyers may call Ken Wither at 587-215-2245 for further details.
After the phone call, inquirers who are still interested will be required to sign a confidentiality agreement and complete a confidential buyer questionnaire to give us a snapshot of who you are.
A meeting will then be arranged to share specific details and financials of the business.
Business owners or staff are not to be approached directly. To protect confidentiality, the attached picture is for marketing purposes only and not an actual depiction of the business for sale.
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