Camera Shop (Downtown) For Sale

Business description

This full service photo shop has, in its 75+ years, often been designated as Cincinnati’s “Best Photo Retailer.” Serving both amateur and professional photographers, as well as dozens of commercial accounts, the Company sells a wide variety of photo equipment and accessories, darkroom and lab supplies, digital printing supplies, film and much more.

The current owners have been in the business over 20 years and want to move on to new careers. Lack of capital and resistance to modify their operating strategies in a changing marketplace caused margins and revenues to decline in recent years.

Sales for 2008 (Y/E 5/31) are projected at $1,750,000, and with a very favorable lease this opportunity should be attractive to a new owner.

INVESTMENT HIGHLIGHTS:
• Well established – 75+ years
• 2008 sales (Y/E 5/31) projected at $1,750,000
• Attractive lease - $22,200/year
• Excellent reputation/name recognition
• Experienced staff available for transition
• Key commercial accounts

Property information

Lease terms:

Five years beginning January 1, 2006 – December 31, 2011
Rent: $1,850/month; $22,200/annually
Option: Five years at appraised market rent as of 1/1/2012
Utilities: Electric and gas – lessee; water – lessor
Maintenance: Lessee responsible for repairs to the premises for normal usage; lessor – HVAC system

Location:

Great Location Near Fountain Sq.

Other information

Competition / Market:

Big Box Stores

Reasons for selling:

Retire

Trading hours:

0900-1800 M-Sat

Furniture / Fixtures value:

$75,000 (included in the asking price)

Inventory / Stock value:

$100,000 (included in the asking price)