Full Line Music Store with Repairs & Lessons in Virginia's Blue Ridge

Christiansburg, VA
Acoustic Guitars
Asking Price:$400,000
Inventory:$350,000
Established Year:2005
Gross Revenue:$850,000
FF&E:$50,000
BUSINESS DESCRIPTION

Authorized dealers of Fender, Martin, Gretsch, Jackson and more

We are a well-established, full-line music store, in business for 20 years. We serve the New River Valley in southwestern Virginia, including Montgomery, Floyd, Giles, Pulaski, and surrounding areas including West Virginia. We are the only full-line music store within a hundred-mile (if not larger) radius. We are family-owned, and the music store supports the two owners and generates enough business to keep four to five full-time employees on payroll.
Located in the heart of the Blue Ridge Mountains, this region of Appalachia intertwines with The Crooked Road, Virginia's Music Heritage Trail, https://thecrookedroadva.com/, where roots of Old Time and Bluegrass music traditions run deep. We are honored to be THE brick-and-mortar supplier of fretted instruments, fretted accessories (our highest selling categories) and so much more for our local musicians.
We also have a healthy band/school music program. We are a Music & Arts affiliate (musicarts.com) and offer lessons in most instruments at the store. We also have several repair techs on staff and provide in-house repairs for fretted instruments.
We are authorized Fender, Martin, Gretsch, Jackson, Roland dealers and more. We also buy, sell and trade used instruments, and have a lively flow of consignment instruments at all times, which contributes to our overall sales.
Fun Fact: Our store was featured on CBS national news when we started a "sign war" in 2020 with other local businesses, to boost morale during challenging times.


DETAILED INFORMATION
Location
Christiansburg, VA
Inventory
Included in asking price
Employees
7
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
We are selling the building that houses the music store. We can offer a discounted rental rate while the buyer finds a place to relocate the business and/or the building sells. We have discounted the asking price of the store accordingly because no lease is offered. All inventory, furniture and fixtures, including slat walls, computers & specialized software for sales and general ledger, and customer database are included in the sale. If the buyer wishes to keep the company name for continuity, we are open to transferring it with the sale.
Competition
There is very little competition locally in terms of brick-and-mortar stores. There are two guitar-centric stores in Roanoke, about 50 miles away, but no full-line music stores such as ours. Our biggest competitor is the internet. We have worked around this by offering lessons, repair services, and a hands-on atmosphere that creates customer loyalty. Because other brick-and-mortar music stores are so far away, Martin and Fender and other dealerships should transfer as long as the buyer passes their credit check.
Growth & Expansion
We do most of our sales in person in our store. Over the years we made sales on eBay and currently make some sales on Reverb, but we have not cultivated our on-line presence to its fullest potential. So this is one area of potential expansion. Because some vendors are now selling instruments directly from their websites, retailers need to excel in customer service and creating a welcoming atmosphere.
Financing
We are selling the building. Buyer will need to relocate the business upon sale.
Support & Training
We can be available for 6 months as contractors to help new owners transition. Training in Aimsi, the computer software. Aimsi tracks sales and inventory and contains the general ledger.
Reason for Selling
We are ready to retire.
Home-Based
This business is Home-Based

BUSINESS LOCATION
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Kirsti Kaldro
Kirsti Kaldro