Business Summary:
Imagine a large part of your daily tasks being focused on selecting what new music to carry in your award-winning CD & DVD store. This business offers strong benefits for a buyer: 1, it has been systematized better than many franchises which makes it easier to operate than most small businesses; 2, it has stable long-term employees which is in stark contrast to the 50%-80% annual turnover rate that most retailers experience; and 3, it is located in a prime high-retail-traffic area. Why is this store different than other music stores? There are over 400,000 CDs & DVDs that American consumers can potentially purchase, but very few of the 10,000+ US businesses that sell CDs & DVDs have access to them. This business is one of the few able to do so! This business has done this so well, that it has received the local paper s Best Music Store Award each year since 1994! It has achieved its high level of service by building its entire operation around client needs. Technology captures historical consumer data to aid in the store's buying practices. Technology is also used for systems that enable staff members to find music & movies for customers that other stores can't.
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| Year
Business was Established: 1993 |
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| Number of Employees:
6 |
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| Facilities / Terms of Lease:
This store is located in a newly renovated shopping center that houses large retailers such as Bed Bath & Beyond, Starbucks, Michaels, Rite Aid, Ross, Sleep Country USA, Petco, and Lane Bryant. Most independent music & movies stores have a "mom & pop" feel. Not this store! The 2,648 sq. ft. store is easily mistaken for a national chain with attractive lighting, colorful fixtures, theme carpet, professional signs, technology, and vast selection. The sale includes all furniture, fixtures, and equipment - worth nearly $300,000 at current market price. |
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| Potential
Growth/Expansion:
There are a variety of opportunities for a buyer to expand this business. The most logical is to use this business' strong proprietary systems & branding and duplicate it in currently underserved nearby markets to create a chain with greater economies of scale. Other opportunities include: create a franchise; develop a web-based E-commerce sales division; offer digital content sales and/or web-hosting for peer-to-peer trading; offer on-line movie rentals for local customers; and provide delivery service for rentals and sales. |
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| Competition:
Many people believe independent CD retailers are becoming obsolete due to digital music downloads. But according to the Recording Industry Association of America, digital downloaded music sales are less than 10% of physical music sales, and independent record stores have had a very stable market share over the past few years while big box retailers have experienced declines in customers buying music from them. The music industry is a stable environment for retailers who offer specialized services and selection. |
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| Owner
willing to finance:
N/A |
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| Owner
willing to train:
There is a well-trained staff in-place that will continue with the business that can largely operate the business on their own. The seller will also provide reasonable transition training and support. |
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| Reason for selling:
The principal wants to pursue other entrepreneurial dreams |
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Seller Reference Number: 1000005179
BusinessMart.com Listing Number: 41712 |
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