For Sale: Entire Framing Business in Texas

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Lewiekabob

Grumbler in Training
Joined
Mar 28, 2011
Posts
5
Hello, we are selling our frame shop in College Station, TX. I am moving to a new city to go back to school and my co owner does not want to run it if I am leaving.
Its 1,550 sq. ft. with a beautiful front display area. In growing area of Texas on the fastest growing side of town. Lots of future potential. In the past 2 years within a mile they have opened a new High School, new hospital, a Lows, an HEB store, several shopping centers, and a few new elementary schools. I would say when we are advertising as many as 10% of our customers are new customers. Open since 1974, we have been the owners since 2009. An hour north of Houston and home of Texas A&M. We have on average 38k in business through the university system alone.
We bought the store from the previous owner who had run the business into the ground. We have increased sales by 10% every year and increased profit by 60%. Unfortunately the business is still running at a loss, even though we did about 139k in sales last year. I have to admit that this is my first business and had no previous experience. Still the market in this area is so good that we were able to improve the business quite a bit.
This is a frame shop that has tons of potential for someone who has the framing experience or business experience. Also for anyone who wants to move to a medium sized Texas town with a great friendly atmosphere and low taxes(compared to other states).

Asking price is 120k. Price is negotiable.

Call Lewis or Laurie
979-690-7727
or email
theosgallery@gmail.com
 
NEW PRICE!!!

Ok because we are going to try and sell the store by mid August we are dropping the price down to 95k. We are also willing to help see the store through the transition period and can do some owner financing to a certain extent. Please call or email if you have any questions. Also our web site is www.TheosGallery.com
 
Lewiekabob said:
Unfortunately the business is still running at a loss, even though we did about 139k in sales last year.
Click to expand...


For your sake I hope you find a buyer. IMO however if this business continues to operate at a loss, the only thing of real value is inventory and equipment and you are best to liquidate. If you have an up-to-date customer list with contact info then that might have some value to another shop in your area.

Or a best case scenario might be that someone with business savy might take it and the lease off of your hands but if it were me it would still be only on the reduced value of inventorey and equipment. Sorry if this seems harsh but I think it is reality.
 
You expect someone will pay you $95K for the privilege of losing money, while working probably 40-60 hours per week. Is that correct?

Would you buy your business?

Imagine how much additional money one could lose each month if they also had to pay debt service on a $95K loan.

Seriously, the only value in a failed business tends to be in the tangible, portable assets, such as equipment, at market value. As the former owner of a business brokerage, I can tell you that The "Greater Fool Theory", as it's known, almost certainly is not going to work. My advice is to get out as fast as you can for whatever little you can get. Sometimes it's better to take a cold shower than a bath.
 
This week my friend called, she does painting restoration for me. She said her friend rented a place for his second restaurant in a very busy area and it used to be a frame shop. She didn't have to explain me anything else, because I knew exactly where it is, I went there and picked up a CTD saw, vacuum press, oval cutter, sign, some fabric. LOL. Free stuff, love it. Cost me 4 tickets to a Pacers game and thank you.
 
Gilder said:
This week my friend called, she does painting restoration for me. She said her friend rented a place for his second restaurant in a very busy area and it used to be a frame shop. She didn't have to explain me anything else, because I knew exactly where it is, I went there and picked up a CTD saw, vacuum press, oval cutter, sign, some fabric. LOL. Free stuff, love it. Cost me 4 tickets to a Pacers game and thank you.
Click to expand...

What does this have to do with this thread!!!
 
CB Art & Framing said:
What does this have to do with this thread!!!
Click to expand...
Quite simple: sad but realistically predictable future of this shop. One of my friend did just that, the man
I picked up the machinery did, my other friend I bought the shop from almost did . They all gave up.
Who is going to buy the business that doesn't make any money? Or leave it or turn it around.
 
This is a forum for advertising for sale and for buying. The OP posted an honest assessment of a business for sale. Why is it so important to insert such a negative debate into this thread. The substance of the debate belongs in the Business forum. If you don't like what the seller is selling, or the price, don't make an offer. Take the nasty opinions somewhere else (including response to this post).

:shrug:
 
I agree he is looking for buyers, He may be over priced. But again you don't Know what he really has to offer.

Maybe his Location/lease, equipment & inventory are worth what he is asking. If not he will soon find this out and adjust his price. He has already seen that it was high and reduced it. If you are interested ask him questions about exactly what he is selling or go see it.

Lewiekabob By the way welcome to Grumble it is not as hostile as it seems.
I wish you luck in finding a buyer.
 
I am glad you joined the conversation, I almost thought you'll let them fail.
 
A local frameshop, that I believe was struggling, recently sold after being on the market for many years.
Yes, businesses usually sell for a price based on a factor of net profit.
But hey, why not try for a sale. You can always liquidate the equipment/fixtures.
And no, you DON'T have to give them away. There is a very healthy resale market for framing equipment.
 
Life can get ugly really quickly if wrong choices are made, I wanted them to see that.
Of course they can sell the equipment, but the shop sounds pretty good to me and a town
and everything, they just need to push a little bit harder. And find out why it doesn't make
any profit.
 
Not Scared off yet

Haha I am not new to forums just this one. I know that people speak their minds openly and I can appreciate truth and honesty vs. sugar coating and sentiment. Sorry for the long response time. Just a busy time of the year for us.
With this shop it has potential. The previous owner ran the business into the ground and though sheer ignorance misrepresented his numbers when we took over the store. We have increased sales on average by 20% every year for the past 3 years. I would say yes this is a business that would not be good for a business investor but would be for an owner operator. When we took over the business I had no experience and my partner had very little as well. Yet through commonsense practices we have been able to pull the business out of bankruptcy numbers to near breaking even.
I think that some one with experience and business know how could make this a profitable framing business again within a year. We did no improvements (although we had lots of great ideas) other than correcting pricing, basic efficiency, and improving customer relations.
Competition is low for this size of town and we also have about 25k in annual contract work though the local university. (Not including diplomas).
Basically someone would be buying a business that is up and running. We carried it though the (what I hope is) the worst part of the recession/depression. And area growing very rapidly with our side of the town doing the most growing. We know that it is still a chance for someone so even though we are going to be loosing money we are looking to see soon and are marking down the price to $85k. I am moving to a new town to go back to school by the end of summer.
 
It is always a pleasure to talk to an intelligent men. I think it's not good for our industry to keep loosing good shops, that reduces public's confidence in us. And looks like you have a good shop.
Good luck!
 
Lewis... I wish you the very best in the sale of your business, and with your new future endeavors!

I agree with you, I think that Bryan - College Station has a lot of potential... particularly given that there isn't a lot of competition!

BTW, how many Aggies does it take to appreciate custom picture framing? :icon21:





Z
 
Lowering the Price

Hey everyone,
just letting you know that we are changing the to sell by date and the price. The new date will be mid July. My wife got a job and that's when we are moving.
The new price because of this is $67k and we are willing to owner finance up to 50% depending on the purchaser. Let me know if you are interested or need anymore info.
 
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