Summary
Fine Art Kangaroo Island, KI's leading art gallery, and sole commercial framer, offers exceptional value, with growth opportunies, and is available as a going concern for immediate revenue generation.
Revenue
$232,960 pa
Rent
$22,750 pa
Expenses
$140,783 pa
Net Profit
$69,427 pa
Location Details
Kangaroo Island
Five minutes from the Airport the gallery is situated in a five room corner heritage building with floor to ceiling windows along the main commercial streets of Kingscote, KI's main town. To the rear is an arts garden, parking, framing/storage shed.
Potential
Located in Lonely Planet's No2 must-visit region 2024, expanding population and visitation provides growth opportunities including: E-commerce expansion; fee-generating workshops, residencies, & maker events; extended opening hours; artwork displays in high traffic and mainland venues;overhaul of website; expand framing business from 2 to 5 days per week; generate revenue for art delivery, installation and art rental or evaluation services; review artist commission rates in line with industry standards and generate new consignee artists.
Skills
At the heart of this business is the trustworthy relationship between owners, artists, suppliers, and residents. KI is relatively remote, with 200K annual and returning visitors. To maintain your gallery as a beacon of creativity on the Island and and beyond you will be flexible, innovative, and an exceptional communicator. Of advantage is a passion for and interest in community arts. We will share our contacts, secrets, knowlege, and train you in Custom Framing, and how to authentically sell artwork to local and off island visitors.
Hours
We trade 10-5 daily, Wednesdays to Saturdays inclusive, and AH by appointment only. We extend this during holiday times.
Lease
From 30 June 2024 our excellent Landlord offers lease as is 1+1 years or renegotiate for up to five years 2+1+1+1 years.
Employees
2 X .8FTE
The Gallery is run by one person during BH. Custom Framing is operated by one person. For 16 years we have not employed personnel (the odd contractor) providing us flexibility with opening hours, seasonality, travel and exhibition set up.
Reason for Sale
The unique opportunity for a lifestyle shift to this iconic nature destination is a reluctant sale due to declining health and aging of the founding owner-operators. Both have lived on KI for three decades, 16 years whilst enjoyably operating Fine Art Kangaroo Island immersed in community life. They've made new global friends, travelled interstate and drawn a living income from the business. Loving the life KI offers them and their family they will retire here and reduce their responsibilities.
About the Business
Award-winning Fine Art Kangaroo Island is KI's most recognised art brand and only commercial gallery. Locals consider it the pinnacle outlet to exhibit in. For 16 years it has been foremost in growing the island's regional arts culture through showcasing a myriad of art experiences, 100 stand-alone exhibitions, and pursuing opportunities for artists through links with industry & community.
The island's only custom picture framing business adds significant benefits to the customer experience ensuring purchased artwork can be unframed for easy shipping or changed to suit buyer's taste. Increasing resident population and rising demand for framing enhances the bottom-line profitability. The gallery top sellers consign artworks to be framed. An extensive inventory of framing materials, tools, and equipment is housed in the purpose built shed on site, ready to cater to the needs of artists, art customers and the local community.
Newly refurbished inside and out, the arts venue is well designed with energy saving professional lighting to showcase the finest and most intriguing work of the island (paintings, prints, art jewellery, sculptures, and more) that find their way to homes around the globe. The welcoming four room gallery is in the heart of the recently upgraded town centre, with floor to ceiling windows onto the main street and views to the sea. It is offered fully operational for immediate revenue generation, stocked with a careful selection of desirable artworks in diverse styles, predominantly on consignment, in all price ranges. Acquire existing consigned artworks to expand the inventory instantly.
Storage racks, display solutions and a dedicated office are housed discretely.
The Gallery has reliable supply chains, reputable world-wide freighting, artist contracts and long-standing customer relationships. A database of clients fuels direct marketing and outreach. A strong and loyal following of art enthusiasts includes local, and regular returning visitors, with an influx annually from mainland and overseas.
Secure ownership of the business registration name, solid website and strong social media presence to engage with a loyal online community for brand consistency. Take over established phone lines, and mobile, to maintain continuity in communication with customers, suppliers, and artists. Drive and transport large artwork in style with a Volkswagen car and access distinctive number plates KI ART 1 or KI ART 2.
Mentoring, industry memberships, pre-paid features and an image gallery to unlock marketing opportunities are included.
History
Established by the owners in 2008 to provide a quality outlet for the island's artists the business has survived GFC, 19/20 Bushfires and COVID, expanding its premises in 2013. In 2011 it won the SA Regional Awards for service to the arts for consecutive years, Hall of Fame 2015.
The island is renown for its unspoilt environment where art, food and wine are produced in balance with nature. By sharing the stories of the artists and their artwork the current owners create unique personalised experiences and unforgettable memories of island life.
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