Description

Stunning Art Gallery – Downtown Bellevue - Profitable.
Location, location, and location make this art gallery an outstanding buy. This gallery is in the top 3 in Bellevue. This one of a kind art gallery has been established since 1998. It is located in one the main 5 Star hotels, in downtown Bellevue, right in the lobby. Hundreds of hotel guests and locals pass by it every day. The gallery specializes in unique, creative hand-crafted, locally sourced artisan goods! It has long-standing relationships with artists from across the United States who are the best in their trade. They feature paintings, blown and fused glass (from local and national glass blowers), bronze statues, hand carved wood boxes, wood tables, & pens, glass serving pieces, kitchen related items, scarves, and one-of-a-kind jewelry. The owner has many items on consignment from the local artists. The average payout to the consignment artist is around 45%. The Seller wants to retire and is motivated to sell this unique and one of a kind art gallery. The new owner could showcase local artists and have a wine and cheese gathering to bring customers into the gallery; once they are inside they will buy. Surround yourself in beauty, luxury, and make a great living at the same time.
The business occupies 1600 square feet in the main lobby of this 5 Star hotel; it has hundreds of potential clients walking by its doors every day. The base monthly rent is $3,467 plus NNN charges monthly of $1,000. The lease runs till September 30, 2019 and the Landlord will extend it for a qualified tenant.
Inside the hotel there is no competition. This is a one of a kind art gallery featuring unique art work done in glass, bronze, and wood and one of kind pieces of jewelry. This gallery is in the top 3 in Bellevue.
The new owner could showcase local artists and have a wine and cheese gathering to bring customers into the gallery; once they are inside they will buy. The new owner could add additional artists on consignment and change some of the styles of art work on a periodic basis. The business could align itself with some interior decorators, or have one on call, and offer their art work to the interior decorators customers. The current owner has done very little social media promotion and SEO – this too could be a large source of clients. The current owner only works about 20 hours a week and the new owner could take a more hands on approach and a deeper involvement in the day to day operation of the business.
The Seller will provide one week of onsite training on the day to day operation of the business and introduction to the artists.
The Seller is retiring.

Posted Apr 29, 2016

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