Profitable Summer Arts & Crafts Gallery in Coastal Alaska Tourist Town

Homer, AK (Kenai Peninsula County) (Relocatable)

Seller Financing Available
Homer Spit, Kachemak Bay, Alaska
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Asking Price: $139,000

Cash Flow: $20,000

Gross Revenue: $90,000

EBITDA: N/A

FF&E: N/A

Inventory: $35,000

Real Estate: $80,000

Established: 2006

Profitable Summer Arts & Crafts Gallery in Coastal Alaska Tourist Town

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Business Description

Represent Alaskan arts, crafts and makers in scenic Homer, Alaska

You only need a few summer months and 400 square feet of space to net $20,000+ in the idyllic coastal town of Homer, Alaska. This high-efficiency business presents a discerning collection of art, specimens and handicrafts from the hands of Alaska to the curious, engaged visitors exploring one of the nation’s Top 100 Small Art Towns, nestled amongst glaciers and mountains. (*Not "relocatable" but many seasonal businesses in the area are owned/operated by nonresidents)

Homer is a rural Alaskan town 200 miles (or a 30-minute commuter flight) south of Anchorage. The geographically unique Homer Spit (a 4.5-mile long, narrow peninsula projecting into Kachemak Bay like an over-sized natural pier) attracts visitors from around the world, and harbors fishing, recreation and research vessels.

From this incredible ocean-side location, the home-grown gallery educates, engages and advocates to profitably sell Alaskan knives, carvings, jewelry, functional art, minerals and bone specimens. Carefully cultivated, long-term vendor relationships ensure a dependable supply of unique products. Every item in the gallery is hand-crafted in Alaska, representing the diverse culture and materials of the state.

From mid-May through mid-September (Memorial Day through Labor Day), the gallery sells Alaska-made gifts and souvenirs to walk-in visitors, who enjoy a personable and informative presentation. Online, the web store www.HandsofAlaska.com sells store inventory year-round with professional design, online shopping cart, excellent product descriptions and helpful articles about artists, techniques and materials.

Outright ownership of the gallery building, fixtures and inventory—as well as web content and licensing—ensures flexibility in display and product selection.

The gallery building is included in the sale, however a lease from the boardwalk owner will be needed. The annual lease is about $8,300, due in 3 equal payments in mid-June, July and August each year. Lease term is 3 years, and renewable.

A practical business model balances quality and value with efficiency, profitability and staff productivity. Simple bookkeeping systems streamline sales transactions, data entry, product database maintenance and financial reporting. Strategic web design positions the web store for catalog and sales expansion.

Quality, market-tested products and value-added presentations drive consistent returns through low cost of goods, high sales, and minimal staffing.

For twelve years, owner-founder Meriam has enjoyed profitably operating a gallery in Homer and cultivating passion for art. She is seeking a new owner to represent Alaskan artisans, so she can spend more time making art at her workbench.

Attached Documents


Detailed Information

Inventory:
Included in asking price
Real Estate:
Owned
Included in asking price
Building SF:
400
Employees:
1
Facilities:
20' x 20' Building (requires lease with boardwalk owner: $8,300 annually, 3-year term, renewable) - Fixtures & Displays - $35,000 cost basis inventory (processed, tagged, displayed) - Operational Tools (manuals, business plan, QuickBooks company file, vendor relationships) - Historical Data (sales, purchases, financial) - Support & Training
Competition:
The Homer Spit features diverse stores, eateries, guide/transport services and marine industries. The gallery is located in a busy tourist district, on the Harborview Boardwalk. The gallery differentiates from other retailers with exclusively Alaskan-made products, and by representing the artists, materials and craft methods of Alaska. Boardwalk neighbors include a sundries store, restaurant, another gift shop (very different product lines), fishing charter, marine taxi service, and fish & chips stand, all surrounding a large deck with picnic tables.
Growth & Expansion:
Marketing has been local only--Chamber of Commerce/Visitor's Guide, local walk-up traffic, and community Art Gallery flyer. Marketing could be improved substantially. Additionally, owner burnout impacted stock levels the last two years, hurting sales. The established web store (www.HandsofAlaska.com) provides opportunity for year-round sale of store inventory. With only two artists presented online, the site already shows steady sales. Expanding the web catalog and marketing the website could grow online sales substantially.
Financing:
Up to 50% financing considered.
Support & Training:
To be discussed; will include computer operations (inventory, sales, product labeling, SKU codes, price tag printing), vendor introductions, overview of operations, web fulfillment procedures. Could also include accounting methods, payroll processing, web product creation, web management, product line advising.
Reason for Selling:
Meriam created a store to represent Alaskan artisans; now she wants to make art!
Business Website:
http://www.HandsofAlaska.com
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Business Listed By:
Meriam Linder

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