Vintage Home Decor & Paint Studio

Fort Wayne, IN (Allen County)

Vintage Home Decor & Paint Studio

Asking Price:$87,500

Cash Flow:N/A

Gross Revenue:$143,000

EBITDA:N/A

FF&E:$6,000

Inventory:$10,000

Lease Rate/Sq. Ft.:N/A

Established:2012

Vintage Home Decor & Paint Studio

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Business Description

Established, turn-key vintage furniture and home décor store/ paint studio with two locations! Located in both Fort Wayne and Winona Lake, IN, this established business features two high- traffic locations. The Winona Lake location is a regional tourist destination with a web site that includes a virtual tour of your store. It also advertises at no cost to you through billboards, festivals and an electronic sign at the front entrance. There is ample free parking. The Fort Wayne shop location is situated in a historically revitalized corridor with 10,000+ vehicles passing by per day. This location also has ample parking in the rear of the building and off-street.

The key feature of this business is it’s proprietary paint distributorship, making it the only location in each region where this extremely popular paint can be purchased. Paint makes up over half of the store sales. Additional revenue streams include painted furniture, paint workshops, booth space renters, consignor sales and custom painting services. Business has a professional web site and a significant social media presence and has done significant advertising for over 4 years.

Ideally, both locations would be sold to the same buyer in order to maintain market share advantage and to have both streams of income. If necessary, would consider selling locations separately.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
2,000
Lease Expiration:
9/1/2017
Employees:
2
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The Winona Lake location has 2BR apartment above the store for convenient and comfortable living accommodations. Lease on shop/apt until September 2017 and is currently $1000/ month for the 1,200 sf shop space. Apartment is $600/month & 800 sf. There is also an attached 2 car heated/air-conditioned garage. Parking is free and more than ample. Fort Wayne location is on a month-to-month lease of $800/month for 800 sf and a full basement storage area of the same square footage. Rental income from booth renters offsets this rent by nearly $400 per month.
Competition:
Top seller, top brand in this industry. You would be the only retailer for this particular paint line in your dedicated region. Great support for distributors and proprietary website just for distributors to exchange ideas. Distributors are located worldwide and the paint company has a worldwide marketing campaign.
Growth & Expansion:
Other opportunities for additional revenue would be teaming up with builders (kitchen cabinets/ custom cabinets), interior designers, additional vendor booths (additional monthly income) & consignors. In addition to, promoting & marketing a variety of paint related workshops.
Support & Training:
Requirements include buyer taking classes on techniques at company’s US location, carry a minimum inventory, and shop have right "look" and specialize in interiors. Opportunity to train overseas available. Seller will stay on and provide training for a period of time and terms to be discussed prior to offer.
Reason for Selling:
Other interests & looking to move out of state to be closer to family.

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Business Listed By:
Jon Durnell

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