Contemporary International art gallery- Laguna Beach, CA

Laguna Beach, CA (Orange County)

Contemporary International art gallery- Laguna Beach, CA

Asking Price:$160,000

Cash Flow:$70

Gross Revenue:$426,000

EBITDA:N/A

FF&E:$3,000

Inventory:N/A

Lease Rate/Sq. Ft.:N/A

Established:N/A

Contemporary International art gallery- Laguna Beach, CA

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Business Description

Successful Contemporary Fine Art Gallery featuring Internationally Recognized, National and Local Artists. It has a distinctly unique feel of an established International Gallery. Fresh. Exciting. Featuring world famous International artists seen nowhere else in the area.

Owner brings international artists to gallery through collaboration with a New York Foundation. Owner says this ocean resort city is known to sell more art per capita than any other city in the world, except New York City. Tourist traffic in this beach resort city estimated to be 3- 4 million annual visitors. The gallery is located on the main shopping street in downtown, surrounded by restaurants, galleries and boutiques, where there is the maximum walk-by and drive-by traffic. It is an international resort destination.

The Gallery is a leader in contemporary art with a pulse on the ever changing world art market. The owner has traveled around the world creating relationships and connecting with internationally sought after artists. Utilizes gallery receptions to bring international artists to the Gallery to enhance knowledge and collections. Six to 7 artists showing currently, rotated monthly. Monthly featured artists receptions and events with wine, music and food.

The Gallery is a culmination of over a decade of the owner’s experience owning galleries in this beach city and surrounding cities. Sales have been impressive. , Annualized gross sales approximately $426,000 and $70,000 in cash flow. All inventory is on consignment from the artists and the split is 50% to the artist and 50% to the gallery. No inventory cost. Owner says cash flow can be increased by $3500 per month, $42,000 annually, utilizing the artist 40%/gallery 60% split standard on the East Coast for Intl. artists. There is an Art Director and experienced Sales Consultants all on minimal daily rates plus 10% commission. Trained staff. Lease 5 years, approximately 750 SF showroom , rent $7200/mo. Website.

Detailed Information

Real Estate:
Leased
Building SF:
750
Lease Expiration:
4/30/2021
Employees:
4
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
LOCATION, LOCATION, LOCATION. Located on the main shopping street in Laguna Beach in S. Orange County. Owner says this city is know to sell more art per capita than any other city in the world, except NY City. Tourist traffic in this beach resort city estimated to be 3 - 4 million annual visitors. Surrounded by restaurants, galleries and boutiques, where there is the maximum walk-by and drive-by traffic. Gallery showroom approx. 750 SF. Extensive tenant improvements. Rent $7200/mo.
Competition:
This is the place to be for a contemporary fine art gallery in southern CA. It is an international resort. The city's extensive number of galleries draw visitors. The artists only show in one gallery in an area, so they do not compete. The owner is an Art Director. He finds artists. He finds collectors. He knows how to do business. It features world famous international artists seen nowhere else in the area.
Growth & Expansion:
Sales volume can grow, limited only by the creativity of the buyer, building upon the experience and connections of the owner which he is very willing and able to transfer to the buyer, after more than a decade as a successful gallery owner and art director in the area.
Financing:
TBD
Support & Training:
Seller will stay on and provide training for a period of time and on terms to be discussed prior to offer. Owner willing to stay on, if buyer wants, bringing international artists to the gallery as a consultant on a sales commission basis. He is willing to train a buyer and provide the links to the artists and collectors.
Reason for Selling:
Other business ventures.

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Jeanette Bailey

Business Listed By:
Jeanette Bailey

Sunbelt Business Brokers-Orange Coast

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