Help liquidating a shop

[Jay H]

A framer in town is retiring. She is a larger frameshop with significant prints, art moulding, matboards, and equipment. She would like to sell the whole shop but it’s looking like its going to be easier parting out a business this size.

I have offered my help. I think there is two benefits to this. The first is that I get first draw on anything I want. The second is that moving the inventory out of town eliminates new competition.

If anybody has experience with a project like this or has a need for that type of stuff please post here or email me.

The only thing that I know for sure is that she wants to close it in two phases. Phase one is moulding, matboards, and art. Almost all that has to move before phase two, which is equipment. I think this is a wise idea on her part.

Thanks.

Carry on.

[Jerry Ervin]

What about the location? Would it be right for you? How is the rent compared to the units you have looked at? Could you not capitalize on some of her clientèle?


I know that you have had all these thoughts, but my mind is buzzing. I have been curious about your upcoming move.

Hang in there!

[J Phipps TN]

Her MAiling list is the most valuable thing she has that you could use.

Sending a note that says...

Looking for a new Framer? Give us a try.
(because they will be)
Jennifer :D

[Jay H]

We've disscussed the location. Its a bit more than I'm comfortable paying right now. There is no mailing list. But by helping her close the shop, I would get her referrals (actually I would probably get that anyway).

Anyway stay tuned. I'm gonna meet with her wed. probably and take some inventory and see whats for sale. Might be some bargains. I'll let you know.

THanks

Carry on.

[Jerry Ervin]

I would like to have an AMP VN for the Concord store if she has one.


Also, think real hard about the location. How long has the store been there? If she made enough to cover the rent, you should too.

[ERIC]

Especially if she paid the rent without ever having a mailing list!

[Jay H]

This has been explored thoroughly.

They own the property and are asking quite a bit for rent.

Its an old school shop that never needed or relied on marketing stuff like advertising and mailing lists. If there was a reasonable deal that could be worked out, I would. It’s not going to happen. So my next option is to take what I can use and get the rest the heck out of Kentucky. I'd much rather see a car dealer or clothing shop set up there than a frameshop with some young hungry punk like me beating down business..

I guess it’s a bad idea to get ideas about selling a frameshop on a forum full of people growing theirs. I guess that’s why so many are looking for an angle where I can win in the deal. I've thought long and hard also.....

Thanks friends.

Carry on.

[Jerry Ervin]

Originally posted by Jay H:
I guess that’s why so many are looking for an angle where I can win in the deal. We are just looking out for you!


Purchasing a building would be a HUGE step. Maybe it would be better if they converted it to a restaurant and rented it out.

[OzDave]

Without knowing the full story, please excuse if I get a few things wrong. She has been having problems selling the business, therefor I believe the chances of someone else starting a framing shop there, may be very limited.
You may be looking a little keen for her and thats why the rent etc may be a bit too much for you. If you take a step back and she realises she is in the same place as she was before you came along, she may want to start negotiations a little closer to where you want to be.

Get someone else to do the negotiating. They wont be as emotionally attached to a purchase. One of the tactics I always use is, my business partner has to be talked to and they are always the one that doesn't like the proposal. You dont have to have a partner, but it always gives you time to think, rather than making descissions on the spot.

Look at advertising as she is shutting and soon afterwards. If they do not have a mailing list then, you may as well let their customers know that you are their through the ussual media. There will be a glut of new customers in your area, and its a perfect time to pick them up.

Give them a hand to advertise their equipment ASAP. ( On this Forum or elsewhere out of the area) The equipment will probably be the hardest thing to sell as the market is limited, and you may find a "backyarder" (an Australian term)may pick up the equipment. A shop is more difficult to sell without equipment. Offer your workshop to take up the slack, at a reasonable rate.

Please dont take the next thing th wrong way. I dont think its a bad idea to ask Framers, Its a bad idea to utilise all the ideas. Everybody has different ways of thinking, and a written forum is one of the worse places to take things out of content. So take what you need, use it to the best of your ability, get information from other mentors, and then leave the rest. It may be used by someone else.