Should I buy a local stained glass supply store?

Hi everyone,

The owner of a local stained glass store is retiring and moving out of
state. They have given notice to customers on their mailing list that
they are selling their business. They have been in business for 25
years (I've been a customer for 4 years) and say it is a prosperous
business. I haven't spoken to them about it yet. I thought I might
get some ideas from the collective wisdom of the group. I know there
have been several posts about the declining glass business in America
due to the internet and Chinese imports so starting a glass retail
business fresh may not be successful but what about getting into one
that has been around a long time already and has an established
customer base. They are the largest store for glass in the area and
always seem to have several customers when I've been there. Granted my
experience running such a business is rather limited but they have
several staff people I've seen in the store that I hope would stay on
and help. I've been working in stained glass since 2001 and am in love
with what can be done with it.

Any thoughts on that would be appreciated. What should I ask them
about regarding the business aside from how much income the business
generates?

Thanks for your help. Please reply to the group.

Cathy

I'd suggest the business is viable ONLY if it diversifies into
fusing/slumping and torchworking.

I'd also suggest that making glass art and selling it wholesale to
retailers is much more profitable then running a retail shop.

I'd also suggest that retailing has always been a tough and competitive
business. In the past few years, it's become even tougher and more
competitive. It will continue getting tougher and more competitive.

I'd also suggest that if you decide to proceed with buying the
business, you bring in a professional (like a management accountant) to
go over the books and ensure the price you pay is fair. Most retail
glass shops just shut their doors because they can't find anybody to
buy the business. In today's market place, the MOST you should pay for
a small retail business is the replacement value of the stock. The
older the stock is, the less you should pay it. Anything that hasn't
sold within 1 year is probably never going to sell so should be
considered worthless. Probably less then worthless because it's taking
up space without paying rent.

I'd suggest that going into the retail glass business at this time
should be undertaken as a hobby and not as a business.

Definitely check out the rent, utilities and landlord. My closest retail
stained glass store was kicked out by her new landlords.
Do you have any experience in running a retail store? You must keep up with
taxes, payroll, inventory etc. There is the cost of a business checking
account and credit card fees.
Good Luck,
--
Connie Ryman
Cryman Studio

wrote in message
oups.com...
Hi everyone,

The owner of a local stained glass store is retiring and moving out of
state. They have given notice to customers on their mailing list that
they are selling their business. They have been in business for 25
years (I've been a customer for 4 years) and say it is a prosperous
business. I haven't spoken to them about it yet. I thought I might
get some ideas from the collective wisdom of the group. I know there
have been several posts about the declining glass business in America
due to the internet and Chinese imports so starting a glass retail
business fresh may not be successful but what about getting into one
that has been around a long time already and has an established
customer base. They are the largest store for glass in the area and
always seem to have several customers when I've been there. Granted my
experience running such a business is rather limited but they have
several staff people I've seen in the store that I hope would stay on
and help. I've been working in stained glass since 2001 and am in love
with what can be done with it.

Any thoughts on that would be appreciated. What should I ask them
about regarding the business aside from how much income the business
generates?

Thanks for your help. Please reply to the group.

Cathy

I own a retail store and my retail sales are up over last year and last
year was up over the year before that. I've had my store for over 15
years. You can make any business work if you work at it. Does this
business include the realestate? Get a look at the Schedule C on the
tax returns for the past three years. Have an accountant go over it so
you know what the profit and loss is. Have someone from the SBA come in
and help you evaluate the business. If you have little business
experience you might have a tough go at it. There's more to running a
retail shop than just selling supplies and making things.

A couple of comments.

First, don't be blinded by "stars in yer eyes". If that business was such
an opportunity, the current employees (at least one of them) would be
figuring out a way to buy it. Ain't nobody ever had a business for sale
that wasn't "prosperous". A sale for "health reasons" ususally means they
are sick and tired of losing their ass. A profitable business with a 25
year history ought to have a younger family member or an insider that is
willing and able to take over without announcing to the entire client base
that the business is for sale. That is a totally dumb move on the current
owner's part. I'd NEVER advertise to my customer base that I was thinking
of selling.

Having owned a retail store (in an entirely different industry), I can tell
you first hand that it takes a special psyche to be successful in retailing.
You have to be willing to work at least 50% more hours than the store is
open each week. If you are open 6 ten hour days, you better figure on
spending 80-90 hours there to do the office work, cleaning, stocking,
writing payroll checks, ordering supplies, bookeeping, etc. It ain't a rose
garden. And of course, you'll have the personnel problems...those already
trained people may not choose to stay on, so you'll be looking at hiring
people who have little to no experience in an area where you will need the
most support. Or doing it all yourself.

Good luck.



wrote in message
oups.com...
Hi everyone,

The owner of a local stained glass store is retiring and moving out of
state. They have given notice to customers on their mailing list that
they are selling their business. They have been in business for 25
years (I've been a customer for 4 years) and say it is a prosperous
business. I haven't spoken to them about it yet. I thought I might
get some ideas from the collective wisdom of the group. I know there
have been several posts about the declining glass business in America
due to the internet and Chinese imports so starting a glass retail
business fresh may not be successful but what about getting into one
that has been around a long time already and has an established
customer base. They are the largest store for glass in the area and
always seem to have several customers when I've been there. Granted my
experience running such a business is rather limited but they have
several staff people I've seen in the store that I hope would stay on
and help. I've been working in stained glass since 2001 and am in love
with what can be done with it.

Any thoughts on that would be appreciated. What should I ask them
about regarding the business aside from how much income the business
generates?

Thanks for your help. Please reply to the group.

Cathy

Geez everyone is so cynical. I'll tell you what you want to hear, and you
provide the answers. What do you want out of this? You say you love the
business, and they are always busy. That's 2 great reasons right there. Do
you need to make a primary living, or just supplement? Big question. Not too
many artists make enough to live and then retire on. If the price is right,
and you fully unsterstand what running a retail business is, then why not
make yourself happy? Money isn't everything. Being happy is. You may always
regret not doing this.

--
"Don't get me wrong... I'm SNARKY"
JK Sinrod
Sinrod Stained Glass Studios
www.sinrodstudios.com
Coney Island Memories
www.sinrodstudios.com/coneymemories

"Glassman" wrote in message
...
Geez everyone is so cynical. I'll tell you what you want to hear, and
you
provide the answers. What do you want out of this? You say you love the
business, and they are always busy. That's 2 great reasons right there. Do
you need to make a primary living, or just supplement? Big question. Not
too
many artists make enough to live and then retire on. If the price is
right,
and you fully unsterstand what running a retail business is, then why not
make yourself happy? Money isn't everything. Being happy is. You may
always
regret not doing this.



I agree that personal happiness is primary. And not going for the brass
ring when you can may lead to regrets. You are right.

But don't throw good judgement to the winds. Businesses are easier to get
into than they are to get out of.

Moonraker wrote:
"Glassman" wrote in message
...
Geez everyone is so cynical. I'll tell you what you want to hear, and
you
provide the answers. What do you want out of this? You say you love the
business, and they are always busy. That's 2 great reasons right there. Do
you need to make a primary living, or just supplement? Big question. Not
too
many artists make enough to live and then retire on. If the price is
right,
and you fully unsterstand what running a retail business is, then why not
make yourself happy? Money isn't everything. Being happy is. You may
always
regret not doing this.



I agree that personal happiness is primary. And not going for the brass
ring when you can may lead to regrets. You are right.

But don't throw good judgement to the winds. Businesses are easier to get
into than they are to get out of.


Thanks for all the advice. There's a lot to think about. I may be
getting in over my head at the current level of my business experience.
To answer Glassman's question: It would have to be the primary source
of income for me. I agree happiness is more important than money but
then not having enough money to live would make the happiness rather
short-lived. I'll have to think & pray hard about it and hope I don't
regret the decision either way it goes.

Thanks again,
Cathy

wrote in message
oups.com...
Hi everyone,

The owner of a local stained glass store is retiring and moving out of
state. They have given notice to customers on their mailing list that
they are selling their business. They have been in business for 25
years (I've been a customer for 4 years) and say it is a prosperous
business.

Have an accountant look at the books and tell you what it's worth.

wrote in message
oups.com...

Moonraker wrote:
"Glassman" wrote in message
...
Geez everyone is so cynical. I'll tell you what you want to hear,
and
you
provide the answers. What do you want out of this? You say you love
the
business, and they are always busy. That's 2 great reasons right
there. Do
you need to make a primary living, or just supplement? Big question.
Not
too
many artists make enough to live and then retire on. If the price is
right,
and you fully unsterstand what running a retail business is, then why
not
make yourself happy? Money isn't everything. Being happy is. You may
always
regret not doing this.



I agree that personal happiness is primary. And not going for the brass
ring when you can may lead to regrets. You are right.

But don't throw good judgement to the winds. Businesses are easier to
get
into than they are to get out of.


Thanks for all the advice. There's a lot to think about. I may be
getting in over my head at the current level of my business experience.
To answer Glassman's question: It would have to be the primary source
of income for me. I agree happiness is more important than money but
then not having enough money to live would make the happiness rather
short-lived. I'll have to think & pray hard about it and hope I don't
regret the decision either way it goes.

Thanks again,
Cathy


Cathy many times all it takes is youth, energy, and willpower to turn a
stagnant business into a new place. How many times have we seen a little
"dive" change hands and become a thriving business. I was working in my
garage when I got a call from my local SG shops' owners father. "She's
running the place into the ground, she doesn't even have any solder", he
said of his daughter. "JK, make me a reasonable offer and the place is
yours", he told me. I was doing OK, but not great, working out of my
garage. I really had to think about this a long time. I bought it for a
song. Little inventory but a cheap rent and a legitimate storefront. 20
years later, it was the right decision. If as you say they are already
successful, then why not buy it for a really great price. Inventory plus,
and make it happen.


--
"Don't get me wrong... I'm SNARKY"
JK Sinrod
Sinrod Stained Glass Studios
www.sinrodstudios.com
Coney Island Memories
www.sinrodstudios.com/coneymemories