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Established Music Studio/Guitar Shop

Barrington, IL
guitar display
guitar display
Asking Price:$139,999
Inventory:$30,000
FF&E:$10,000
Gross Revenue:$130,000
Rent:$3,250/Month
Established Year:1974
Listing ID: 2295566Listing provided by BizBuySell
BUSINESS DESCRIPTION

Great Opportunity

Independent music store located in an affluent northwest suburb of Chicago. We have served area musicians and students for more than 40 years and enjoy an excellent reputation for top quality products, services and lessons. The shop is guitar oriented featuring major brand acoustic and electric guitars both new and used. We also offer repair services for guitars. Other revenue sources include sound system rentals and sales of accessories and sheet music. We accept consignments and do sell online.
Our location is in the central business district in a shopping plaza with other established businesses. Parking is very good. We have 6 lesson studios and storage in the basement. Lessons are taught by 9 professional music teachers who are independent contractors.

DETAILED INFORMATION
Location
Barrington, IL
Inventory
Included in asking price
Real Estate
Leased
Building SF
2,400
Lease Expiration
01/11/2026
Employees
10
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
Assets include office furniture, several computers, numerous chairs, display fixtures, a copy machine and some tools related to guitar repair. The leased space is in good condition, but a new buyer may choose to freshen up the place. The landlord is pretty flexible about this.
Competition
There is competition for our products and services. We are the only retail guitar shop in town, although online marketers are the primary competition. Our location is very good. Competition for music lessons has increased in the last few years. Our reputation for quality instruction is well known.
Growth & Expansion
We see the possibilities for expansion in the lesson program. Local parents are very supportive of music education. The retail side of the business is challenging. More focus should be towards online sales. Other product lines may help.
Financing
negotiable
Support & Training
Owner will help the transition by offering to work 15-20 hours per week for three months. Training will be provided to learn operating systems that are in place. If needed, owner may consent to working part time .
Reason for Selling
owner wants to retire
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