Are you a music lover? Have you always wanted to own a profitable business pursuing your passion? If you answered yes to either or both of those questions, Chinook Business Brokers has a tremendous opportunity for you to realize your dream.
After 17 successful years in business, the owner of Duncan Music has decided it’s time to retire from the selling musical instruments to travel and concentrate on his own music. The store is offered for sale at a price of $330,000. This price includes approximately $125,000 in inventory as well Furniture, Fixtures and Equipment valued at $20,000.
Duncan Music is situated in a 3500 square foot store in an easily accessible location right in the heart of Duncan on the TransCanada Highway. There is ample parking in both the front and rear of the store. The owner of Duncan Music also owns the building; as such he has spared no expense in creating a prime venue for showcasing a large offering of new and used musical instruments while still leaving plenty of space for private lessons. There is space to teach seven students concurrently as well a band practice facility. The current owner is extremely interested in ensuring the success of the purchasers so he is offering to stay on for four weeks to help manage the transition.
Gross and Net profit margins were solid in 2012 and the store was able to maintain profitability even through the worst of the recession. This music store does over $500,000 in yearly revenue from two main revenue streams:
- Musical Instrument Sales and Rentals account for about 70% of total revenue. There is some opportunity for growth in musical equipment sales through a renewed focus on local school bands and an expanded advertising campaign.
- Music Lessons comprise the remaining 30% of revenues; this revenue stream offers tremendous opportunity for growth. There is capacity to more than triple revenues from music lessons by concentrating on direct marketing to the Cowichan Valley’s growing population of young families.
There is very little competition locally for musical instrument sales and rentals. Duncan Music is a fixture in the community and is the proud sponsor of a number of musically focused social clubs and community events.
Please contact Keith MacKenzie at Chinook Business Brokers firstname.lastname@example.org to learn more about this once in a lifetime chance to combine your passion with an exceptional business opportunity.