Franchesca
CGF II, Certified Grumble Framer Level 2
OK...the BIG art gallery, in the heart of our mountain marketplace, offered to sell me their business or bail out on their 10 year lease with 3 years to go. Just to open the doors is about $7000 a month. They phased out their framing 2 years ago and now strictly sell art and mountain gift stuff. There are a couple artists that are highlighted and have shows a few times each year. One artist is a big draw and the other stuff is not suited for the mountain and not selling. The owners have outside jobs and the current (cough)"manager"(cough) has no drive to sell unless threatened with not being able to meet payroll which is $4k-5k a month + 3% commish (after break even) for 1 full time and a 1 part timer.
I haven't any available funds to do anything and the thought of owning something this big is intimidating!!! Yet, an hour after the call I set a lunch meeting for the next day. I proposed that I come in and literally take over, like Gordon Ramsey does on Kitchen Nightmares. I'd take out everything that doesn't work and go towards more closed corner frames and suitable art for a resort community. All the gift carp would be gone and left to the neighbors to sell. The big divider would be moved to expose a greater lake view and a fitting/design table would be re-installed. I asked for a $3000 a month draw as an outside contractor and 15% commish (after breakeven) and another percentage point at every $2500 thereafter.
Money, of course, is the first issue. They were really bothered by the large commission even after I explained the savings, of workmans comp, taxes etc., by offering myself as an independent contractor. Framing would still go through my company and the gallery would get 25% of each sale. In house jobs will stay wholesale. I will build the parts of each job at my studio and fit at the gallery.
Another point was to let them know I was on their side and want them to stay the owners. This is 18 year endeavor and used to thrive easily at $30000 a month, until the new wife tossed out the framing and turned to giftwares. But they are NOT making any today and are in debt to many. So the choice was to sell, until now.
I know things can be freaky in our economic times, but if there is one thing I've learned in my 20 years it is the rich will continue to spend even in hard times. Especially if they are motivated by emotion. The right inventory would do just that! But if you are looking to please everyone and sell the magnets, lotions and salsas next to the candles, clocks, totes and Susan Rios paintings...then you are sure to go belly up.
I write to you fine folks because I needed to as they have asked me to keep a lid on this, being in a small community and all, and have no one to hash out thoughts. I am open to any and all suggesions, opinions, words of wisdom and your own stories.
I'd also like to get your thoughts on consigned art. WCAF would be a great place to seek this. Do you think vendors are a bit more flexible on consignment these days? Is there less profit going the consign route versus the purchase route?
That's it for now. More to come as the saga continues...
...Friday.
I haven't any available funds to do anything and the thought of owning something this big is intimidating!!! Yet, an hour after the call I set a lunch meeting for the next day. I proposed that I come in and literally take over, like Gordon Ramsey does on Kitchen Nightmares. I'd take out everything that doesn't work and go towards more closed corner frames and suitable art for a resort community. All the gift carp would be gone and left to the neighbors to sell. The big divider would be moved to expose a greater lake view and a fitting/design table would be re-installed. I asked for a $3000 a month draw as an outside contractor and 15% commish (after breakeven) and another percentage point at every $2500 thereafter.
Money, of course, is the first issue. They were really bothered by the large commission even after I explained the savings, of workmans comp, taxes etc., by offering myself as an independent contractor. Framing would still go through my company and the gallery would get 25% of each sale. In house jobs will stay wholesale. I will build the parts of each job at my studio and fit at the gallery.
Another point was to let them know I was on their side and want them to stay the owners. This is 18 year endeavor and used to thrive easily at $30000 a month, until the new wife tossed out the framing and turned to giftwares. But they are NOT making any today and are in debt to many. So the choice was to sell, until now.
I know things can be freaky in our economic times, but if there is one thing I've learned in my 20 years it is the rich will continue to spend even in hard times. Especially if they are motivated by emotion. The right inventory would do just that! But if you are looking to please everyone and sell the magnets, lotions and salsas next to the candles, clocks, totes and Susan Rios paintings...then you are sure to go belly up.
I write to you fine folks because I needed to as they have asked me to keep a lid on this, being in a small community and all, and have no one to hash out thoughts. I am open to any and all suggesions, opinions, words of wisdom and your own stories.
I'd also like to get your thoughts on consigned art. WCAF would be a great place to seek this. Do you think vendors are a bit more flexible on consignment these days? Is there less profit going the consign route versus the purchase route?
That's it for now. More to come as the saga continues...
...Friday.
