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Free Offer: Podcast for the picture framing industry

Discussion in 'Commercial Posts, For Sale of Framing Shop Stuff a' started by FramerInTraining, Dec 19, 2018.

  1. FramerInTraining

    FramerInTraining MGF, Master Grumble Framer

    You might know that my passion is picture framing. I have owned my own frame shop for over 28 years. Based on that, I have started a podcast specifically for the custom picture framing industry. You all can listen to it using these links.

    I would love to hear your opinions and criticism.

    iTunes:
    https://itunes.apple.com/us/podcast/framers-only-for-picture-framers/id1446288535?mt=2&uo=4


    Google:
    https://www.google.com/podcasts?feed=aHR0cHM6Ly9hbmNob3IuZm0vcy84MGQ4Yjc4L3BvZGNhc3QvcnNz


    Spotify:
    https://open.spotify.com/show/4C77DvKNEnjORMMJzVySaG

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    W.D. Quinn Saw Co.
  2. i-FRAMER

    i-FRAMER MGF, Master Grumble Framer

    I just listened to sell your picture framing business and I felt i could have skipped the first 8 minutes.
    Some points i feel should have been elaborated on is the sale cost of business.
    You and Larry both agreed the frame shops for sale were too expensive. Based on what? If the accounting figures support it then they may not be, they may even be a good purchase financially.
    One point you made Mo, was that it is personal, customers relate to their framers. So if you are small and it's just a 1 or 2 person shop, sales could drop off after a sale, but also could increase based on the new owners expertise. Look at Larry's shop, he built it up from a failing businesses. I know from when i purchased my framing business, sales doubled each year for the first 3 years. The main reason being i was more proactive then the previous owner.

    I do agree that you want to find the right buyers as investing time in the buyers will make for a better transaction. However, not everyone has time, i.e may have had an accident and can't work, so need to sell asap.
    Some major points that have been missed that help businesses to sell is that systems need to be in place, financials up to date and if possible staff in place (even part time staff). If a business has an operations manual and staff in place then this makes it much more attractive to potential buyers.

    As with advertising the business for sale and fear of sales dropping, if you have time i don't think it will be negative. Like Larry, sales increased, and this may be due to simply advertising, in reminding customers about framing, and for some they may want to get their framing in before the framer sells. Honesty is the best policy.

    I think more frame shops could sell with better financials, operations manuals and staff where possible. How many big frame shops with these systems just close their doors compared to small frame shops with no systems.
     
    FramerInTraining likes this.
W.D. Quinn Saw Co.

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