Art/Craft Retail Outlet

Wayne County, MI

Seller Financing Available
Art/Craft Retail Outlet

Asking Price:$125,000

Cash Flow:$39,000

Gross Revenue:$647,000




Rate/Sq. Ft.:N/A


*not included in asking price.

Art/Craft Retail Outlet

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Business Description

This business is a paper crafting retail store known for its variety of products and customer service. Supplies including, equipment and materials as well as training in the artistic endeavors of scrapbooking and card making are all available with the help of the trained staff. The business began as an on line service that expanded into a storefront in 2006.

Detailed Information

Not included in asking price
Real Estate:
Building Sq. Ft.:
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Furniture, Fixtures, & Equipment (FF&E):
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The business currently operates out of a 6,500 square feet retail space on a major road in a Western Detroit suburb. This is a destination business with an ideal location, not far from the freeway and surrounding cities. The building is easy to find, and offers ample parking. Currently on a month to month lease, the new owner can remain in the current space or consider a new location.
This business offers a larger paper crafting product variety than any other store in Southeastern Michigan. Competitors include chain stores, like Michaels and Joann’s. These stores don’t carry the breadth of scrapbooking products that this business does, nor do they offer as much expertise in this area. Big Box and online stores cannot offer the type of one-on-one service customers get in-store. They are known for providing excellent service. They also offer special coupon days to match competitor pricing, and other unique sales to meet or sometimes beat their offers. Events and classes are more unique than anything found at a big box store. Events, classes, and offering demos plus samples throughout the store, give customers a hands-on experience that they cannot find in an online store.
Growth & Expansion:
As a destination retailer, this business relies heavily on word of mouth and social media. Many customers, including the 50+ segment, are savvy online shoppers and understand Facebook, even Instagram. Both are used heavily for marketing. Each May, a large consumer event takes place at the Suburban Financial Showplace, located 15 minutes away in Novi. This business advertises heavily during this event, including in their handouts, and draw in large sales during the weekend of the event.They also send out semi-monthly email newsletters to a 10,000+ customer email base. A great opportunity for a new owner would be to set up an online store. The service could replace point of sale products with an entirely online system. This system would allow the store to sell online using live inventory counts. With this system in place an owner-operator could devote more time to developing classes and demonstrating products, as well as training salespeople on proactive sales approaches to increase sales. Customers often follow advice, or sales pitches, by owners more so than employees. An owner-operator who is present in the store will be able to increase sales. If the new owner wanted to expand the store to have online ordering capability, the store has already invested $1,000 toward that venture, and it would require an additional $1,000 or so to complete it. If the new owner decided to re-occupy the front unit, there would be costs per month and some improvement costs required (no more than $500 in parts and repairs). Social media works best for this business. With ever-changing algorithms on Facebook, they have found Instagram to be a new avenue, especially with mixed media enthusiasts and younger crafters. Regular customers, though, rely on their newsletters for new product and class information. The company recently revamped their website to provide a user friendly resource about the products and services available in the store. It is recommended that a new owner advertise in industry publications, which are mostly online now. A new owner would want to continue engaging audiences via social media to stay in customers’ ‘space’.
Support & Training:
The current owner is willing to assist the buyer in the transition of the business. In addition, there is an experienced, hands on, manager who will remain with the business as well as trained employees The current Manager is a valuable employee, and a new owner would most likely continue to handle many of the tasks she currently has. The new owner would ideally take over the business end of the store, as well as some of the higher-level tasks, like event planning, more involvement in class-planning, sales, etc. There is presently an Assistant Manager who has been with the store a year working 35 hours per week at $10.00. The Assistant Manager would be expendable if there were an owner-operator and Manager in place.
Reason for Selling:
It has been a great run for this young mother. It is time to devote her time an

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Johm Mulheisen

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Johm Mulheisen

MarketPoint Advisors

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Wendell Brandt

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