22-year established Guitar Store/Music School in Jersey City
Jersey City, NJ
| Asking Price: | $70,000 |
| Inventory: | $55,000 |
| FF&E: | $10,000 |
| Gross Revenue: | $240,000 |
| Rent: | $4,100/Month |
| Established Year: | 2002 |
Listing ID: 2260657Listing provided by BizBuySell
BUSINESS DESCRIPTION
Opened in 2002, Metropolis Music is Jersey City's only music store and music school. Located downtown near the Grove Street PATH station it has an excellent location, and plenty of walking traffic. The store has a good sized showroom, 6 lesson rooms, and a repair shop. Currently have about 120 weekly students, and good longtime capable employees. Current owner/repair tech is very well known locally and is willing to stay on for repairs if interested. Very unique retail business with very stable sales over the years, and huge potential to move into online sales and virtual lessons.
DETAILED INFORMATION
Location
Jersey City, NJ
Inventory
Included in asking price
Real Estate
Leased
Building SF
2,500
Employees
10
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
All cabinets, fixtures, furniture, smart TVs and stereos in some lesson rooms, 4 upright pianos, drum set. Repair shop tools and autographs/memorabilia around the store are not included.
Competition
Nothing else like it....
Growth & Expansion
There is room in the store to start online sales, but it's not something we ever got into. During covid we also started doing virtual lessons, and there is definitely possibility of big growth in that area.
Support & Training
Willing to stay on and train in the use of the existing (ancient) POS software if interested, and willing to continue doing repairs on commission. The store mostly runs itself since most income is from lessons.
Reason for Selling
Moved out of the area and want to pursue other interests.
BUSINESS LOCATION
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