Custom Picture Frame Shop for Sale
BBF-8940-231486 – This business was established fifteen years ago with a full service custom picture frame and mirror shop semi-absentee run. Located in a major shopping center in St Petersburg with a great customer based. All work is done on premises with the latest equipment. Custom bevel available and flat mirrors made to order. Bank financing may be provided.
Annual Sales: $224,613
Owner Benefit: $60,455
Asking Price: $129,900
Cash Down: $50,000
Marketing A Custom Picture Frame and Mirror Business
As you consider this Custom Picture Frame Shop For Sale, consider how you are going to grow the business. Over and above the traditional marketing techniques that will be important, there are three strategic partners you will want to align yourself with :
- Art Galleries that do not offer framing
- Interior Designers – obviously residential, but don’t forget commercial interior designers. All of those certificates and diplomas require a frame.
- Realtors in upper bracket neighborhoods
Your custom picture frame shop is the “after market sales department” for a number of these businesses; the relationship can be most lucrative for you. How can you refer business back to them or is there another way you can partner up?
Sharing a similar client base could also inspire you to market alongside your allies. consider getting a booth at a local art show, where you could share information about the services you provide, the new technology and techniques you deploy and offer examples of your work.
Another opportunity might be to offer a custom frame at a charity silent auction – depending upon the charity this can open a variety of doors for new business.
Ideas to Drive Customer Referrals
These tend to be my standard recommendations:
- Reward referrals with coupons or discounts on new frames or additional items
- Build a loyalty program with referral incentives
- Nurture relationships with your loyal customers
- Encourage online reviews
To which I can not recommend highly enough reviews and testimonials. Plus websites like Nextdoor, Home Advisor and Angie’s List are important real estate, as is your Google listing.
Online Bounce Back Promotion
Not my idea, but a great one: offer to fix anything ordered online. Frames and mirrors ordered online offer arrive missing hardware, or with back falling off or with a defect like a crack in the glass. A quiet fix without an “I told you so” goes a long way to earning a grateful customer for life!
Walking into your store shows them all the other ideas they could have had. It’s a win win.
Call Dave DeCamella for more information and a Non-Disclosure Agreement to hear more about this Custom Picture Frame Shop For Sale
The Picture Framing Industry Stats
Ibis World cites Total Revenue for the Picture Framing Industry at $2 billion, with the total number of businesses at 8,837. Both numbers are down by 1.3% over the previous year thanks to internet sales and the ability to print any variety of standard sizes, therein reducing the demand for custom frames. The good news, therefore, is that competition is diminishing. Those who enjoy the customer interaction and the ability to preserve a memory, a keepsake or a piece of art can do so without the customer procrastinating on the grounds that they want to “shop around”. Not that there is a monopoly, but choices for customers are reducing for an in-person, custom experience.
Currently Listed Custom Picture Frame Shop for Sale
Case Study in progress – Retail Makeover for Today’s Independent Custom Framing Business
- Define a Formalized Process so that the staff can work the day to day tasks and you the business owner can focus on financials, marketing, networking, etc.
- Using all the POS system – the data is only as good as your ability to read and draw conclusions from it. Financial Planning becomes much easier when you can see the results of a real business – your business – on a daily, weekly, monthly basis.
- Becoming known in the area as the go-to person for custom framing and being recognized as the authority on how to preserve items is a challenge for all frame shops. Consistency, creativity and courage might be just as important for marketing as the 5 Ps!
- Online Presence. Who has the time? The very nature of custom framing and custom mirrors is, of course, visual. This lends itself to social media. You just have to make the time and keep at it. Like exercise and diet, only this time, your business life depends on it.
- Keep an eye on the forest – give yourself permission to step back and plan. To go to conferences, to read industry magazines, to keep up on industry trends. Those stuck in the day-to-day not only burn out, but their business can’t grow unless there are others on hand to take the increased load. Plus, everyone needs a holiday now and then.
