Imagine the fun of deciding what music to carry in your award-winning store. Strong benefits of this business: 1, it has been systematized better than many franchises making it easier to operate than most small businesses; 2, stable long-term employees - in stark contrast to the 50%-80% annual turnover rate that most retailers experience; and 3, it's 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 operation around client needs. Technology captures historical consumer data to aid in the store's buying practices and to enable staff members to find music & movies for customers that other stores can't.
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.
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.
The sale includes all furniture, fixtures, & equipment - worth nearly $300k replacement, making it a bargain as priced at only $365k + inventory.
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