Family Owned Art Gallery Business in Perth - 40+ Years Established, Award-Winning Picture Framing
Perth, Perthshire and Kinross
- Status
UNDER OFFER
- Date Submitted:
20/09/22
- Advert ID
500540
- Reference
B07054 / Rightbiz
- Call Agent:
- Freehold: £180,000
- Turnover: £200,000 (£3,846 Per week)
- Net Profit: £55,000 (28% Profit margin)
Business Details
Extremely Well Established Family Owned Art Gallery Business For Sale
BusinessPlease quote reference B07054
Hilton Smythe is delighted to welcome to the market Frames Gallery, a family owned independent Art Gallery and Picture Framing business which was established by our clients over 40 years ago.
The business was originally established by our clients in 1979.
Combining an award-winning picture framing workshop with one of Scotland’s longest established galleries of contemporary Scottish Art, the business represents a fantastic opportunity for any new owner to build on this well-earned reputation.
It has always been the aim of the present owners to present the artwork in as friendly and welcoming environment as possible where the visitor can relax and enjoy everything that is on view.
The business has a comprehensive e-commerce website and was, in fact, the first gallery in Scotland to have a website back in 1996. This is alongside a substantial social media presence on Facebook and Instagram.
Due to the wide range on display, the business has built up an abundance of repeat trade and word of mouth recommendations. With a 4.9 rating on Google you can see from some of the following reviews, the business is well loved;
- "Worth a visit. Plenty parking across the street. Lovely enthusiastic staff. We bought a picture and are extremely pleased with it.”
- "Lovely gallery, with an eclectic mix of artworks. The staff are very friendly and very helpful; I get all my framing done here, and Lucy does an excellent job and Jenny is very helpful when choosing a frame. I don't live in Perth, but wouldn't go anywhere else to have framing done. I bought a beautiful oil painting through the Buy Art scheme and Jenny did everything to make this easy. I missed going up, over the last year, to see staff and the art!".
Location
Frames Gallery is located along Victoria Street in Perth, Perthshire.
The City of Perth is the administrative centre for Perth and Kinross District and is located on the banks of the River Tay, in the heart of Scotland. It has a population of around 47,000 people and is well serviced with 5 state secondary schools alongside several public schools.
Situated just off the M9 it enjoys close proximity to Scotland’s major cities and around 90% of the country’s population is accessible within a 90-minute drive. Dundee lies approximately 20 miles to the east with Edinburgh 40 miles to the south and Glasgow 60 miles to the southwest.
The premises are located close to the corner of Victoria Street where it connects with Princes Street. The surrounding properties are generally residential in nature but there is a Matalan store and car park directly opposite with a range of other independent commercial occupiers on Princes Street.
Premises
The subjects are arranged over the ground floor of a three-storey traditional building, which was a former 19th coach house.
The entire premises are split into four main areas: - firstly there are the gallery spaces which comprise a bright and welcoming front shop and gallery, complete with the original fireplace. This then leads into a framing display area, and beyond this lies the purpose built, stylish extension, specifically designed as a more contemporary space, and has been used for both exhibitions and events. This latter space provides an area of 550 sq ft.
The final space is currently used as the framing workshop and is accessed from the framing display area, and currently is furnished with workbenches, storage racks and framing equipment. It benefits from large double doors onto Victoria Street, allowing materials to be delivered. This area is approximately 500 sq ft.
In addition to these internal areas, there is a substantial garden ground accessed from the extension. This is currently gravelled and holds two storage sheds. During the summer months this area has allowed people attending events to relax outside and holds further potential.
According to our recent measurement survey, we are advised the premises contain the following approximate net internal area:
- 158.44 sq m (1,708 sq ft)
Tenure
We are advised that the business is being sold on a Freehold basis.
Rateable value -
According to the Scottish Assessor’s website, we are advised that the subjects have been entered into the valuation roll at £8600. The uniform business rate for the current year is £0.49 pence in the pound.
Occupiers may be eligible for 100% rates relief through the Small Business Bonus Scheme if the combined rateable value of all their business premises in Scotland is £35,000 or less.
Hours
The business hours are -
Tuesday to Saturday- 10:00am - 5:00pm
Staff
We are advised that the business is run and managed by our clients, with the help of 1 full-time staff member.
Financial Profile
We are advised that the business generated a turnover in the region of £200,000. Further financials can be made available upon request.
Please quote reference B07054
Contact Agent
Listing Statistics
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Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
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Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
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Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
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Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
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Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
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