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Jewelry Shop & Repair Store in Hollywood

This unique jewelry repair and retail business has been the community’s trusted “goldsmith” for over 37 years. This profitable business specializes in jewelry repair, converting gold and metals, casting and polishing (75%), and also (25%) sales of watches, chains, rings and other accessories. This business is ideally suited for an experienced jeweler, however, the seller would be willing to train an enthusiastic entrepreneur in the art of metalwork and watch repair. This popular business has earned a reputation for its quality of work, fair prices, and providing customers with trustworthy products and honest service

The business is located in a 1,400 square foot facility that leases for $3,300 per month (incl. CAM) with 7 years remaining on the existing lease and additional options. The asking price includes all the assets of the business including the name, tools, safe, new security system, fixtures, customer base, goodwill, and website. The inventory, valued at over $100,000, will be sold at cost at close. The facility also subleases a portion of the premise for $1,900 per month with a solid, long term, complementary tenant. This sublessor includes the seller and the address in all of its advertisements and drives significant traffic to the store.

Competition is considered medium as other jewelers exist, however this locations years in business, reputation, service offering and product surpass many of the competing jewelers operating facilities with less “curb appeal” and professionalism.

This business has a great deal of room to grow. A new owner can increase advertising as the current owners rely on their street visibility and word of mouth referrals, or expand the product offering. The current owner has planned and designed, but not yet implemented, a school to teach students the art of working with gold and other precious metals, which has experienced a recent surge among vocational specialties.