Hmmm.....Very Interesting...

Ron's dog's flea's brain on acid

MGF, Master Grumble Framer
Joined
Jan 19, 1999
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The demographic results from the Survey Of North American Art & Framing Retailers are very interesting. For those interested here they are:

Owners are 52% male
Customers are 70% female


Age Of Frame & Gallery Owners

65 years or older - 8%
55 years to 64 years - 21%
45 years to 54 years - 36%
35 yaers to 44 years - 26%
25 years to 34 years - 8%
18 years to 24 years - 1%

This age breakout of the survey points out several interseting factors. For example, 47% of retail framers are over 45 years old and 21% are over 55 and looking at retirement in 10 years or less. It is rare that an industry is weighted so heavily in these demographic age groups. Also interesting is the fact that only 9% of framers are 34 years old or younger. The combined factors help ask the question, "Where are the future framers going to come from?". This question is especially important because art & framing has been a 2nd career for most people in business. Framing is not a primary career choice for younger individuals.

For all of the discussion of the franchise and chain store impact on the industry, 95% of retail art & framing businesses are independently owned. Franchises account for approximately 4% of businesses and chain stores 1%.
Nationwide, there are approximately 19,000 retail art & framing businesses. 28% of those businesses do over $250,000 per year. These businesses take in over 80% of total industry sales. The art and framing industry is relatively young: 45% of individuals have been in the field less than 10 years.


Framing And Art Businesses By Annual Sales

up to 50,000 - 22%
50,001 - 100,000 - 18%
100,001 - 150,000 - 11%
150,001 - 200,000 - 11%
200,001 - 250,000 - 10%
250,001 - 300,000 - 7%
300,001 - 400,000 - 6%
400,001 - 500,000 - 4%
500,001 - 750,000 - 5%
750,001 - 1M - 2%
over 1M - 4%

(this info taken from Southeastern Framer)
 
It is interesting to play with industry data. If you use the data cited above, you can come up with an estimated industry size of total retail sales of $3.8 to $5.2 Billion per year. If you break the sales out into store volumes it becomes very interesting

Sales % Of Total Sales Number Of
Total For Cat Shops
All Shops

$50 or less 22% $209,000,000 4,180
$50-100K 18% $171,000,000 3,420
$100-150K 11% $209,000,000 2,090
$150-200K 11% $313,500,000 2,090
$200-250K 10% $380,000,000 1,900
$250-300K 7% $332,500,000 1,330
$300-400K 6% $342,000,000 1,140
$400-500K 4% $304,000,000 760
$500-750K 5% $475,000,000 950
$750-1,000K 2% $285,000,000 380
Over $1,000K 4% $760,000,000 760

Totals 100% $3,781,000,000 19,000

If the data is correct, there are 760 businesses doing over $1,000,000 per year. I find that amazing.

You can also make some geralizations about the income we do or don't make in our business. Using some data about how much we take home as a percentage of sales, our incomes break out like:

$0-50 -$3,500
50-100 -0-
$150-200 $5,500-10,000
$200-250 $10,000-16,500
$250-300 $16,500-21,000
$300-400 $21,000-33,000
$400-500 $33,000-46,000
$500-750 $46,000-72,000
$750-1M $72,000-101,000

These figures assume retail store-front operations at current market rates.

So, how valuable is this information? It is nice to know, but it is based on some very big assumptions. Still nice to know.

Please don't hang me if these numbers are incorrect. We have snow falling in Nashville this morning and you know how Southerners get when it snows.

William Parker, CPF
 
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