Description
Hilton Smythe welcomes to the market, AE Contemporary Art.
AE Contemporary Art was founded by the current owner over 30 years ago and has traded from the impressive current premises for 20 years. The business has been a real labour of love for the owner and is a well-stocked and beautifully presented Art Gallery, Card and Gift Shop.
The business is now being sold, albeit reluctantly and with a heavy heart only due to ill health and the wish to take a well-earned retirement. The owner is keen to see his beloved business pass to an ambitious and entrepreneurial new owner who can take this great little business to the next level.
AE Contemporary Art is an impressive retail store that stocks a range of high end greeting cards and gifts. The greeting cards are very high quality and available only at one outlet in each town which obviously gives exclusivity.
Additionally, the business sells a varied collection of art from a select number of local and international respected and award winning artists.
The business also has a collection of Modern British art (Sir Terry Frost and Mary Fedden etc) and Contemporary Art (Damien Hirst, Tracey Emin etc.
Artists also include famous names such as:
• Gilbert & George
• Dan Baldwin
• James Bartholomew
• Quentin Blake
• Sandra Blow
• Pure Evil
• Handiedan
The business also offers a picture framing service, until recently this was carried out ‘in house’ by the current owner but currently is being sub contracted out, due to the owners health problems.
This service could be easily reinstated and a new owner with basic DIY skills could learn how to do so after a one-day training course. This was previously a lucrative income stream.
Scope to Improve
• Advertising and marketing campaign
• Maximise the use of social media particularly Twitter and Instagram
• Update the existing website ideally adding an e commerce facility
• Extend the opening hours
• Reintroduce a range of jewellery, proved very popular previously
• Source a high-end range of gifts
• Stock a range of scented candles
• Introduce home furnishings, Warwick is a salubrious area and there is real demand for this.
Reasons to Buy
• A long-established business with an enviable reputation and many existing customers
• Prime trading position in the main shopping area with loads of footfall
• Current owner happy to offer a handover to ensure the continued success
• A real opportunity to increase turnover significantly, currently being run at a pace to suit due to health issues
• Picture framing equipment worth approximately £5000 is included and training can be arranged
• Offers subletting possibilities
• All fixtures and fittings included making this a real Turnkey business opportunity
• The generous premises are ideal for alternative business use
• Perfect owner managed or partnership business
• Little or no competition locally
Hilton Smythe highly advise early viewing to avoid disappointment.
This lovely little business is likely to attract considerable interest.
Tenure
Leasehold
We are advised that the AE Contemporary Art is being sold as a Leasehold business opportunity.
The existing lease has three years remaining and we are advised that the landlord would be happy to negotiate a mutually acceptable lease with a new owner.
The rent is £24,000 per annum which is really reasonable given the size and location of the business.
We are advised that the business rates payable are £9000 Per Annum.
Hours
Monday to Saturday 9.30 am - 5.30 pm
Sunday Closed
Staff
The business is run and managed by our client with the help of his Mother.
Financial Profile
AE Contemporary Art generates an advised current turnover of circa £70,000 per annum but it needs to be appreciated that the business is currently being run at a pace to suit due to health issues.
The business has enjoyed higher turnover previously in the region of £110,000 per annum.
