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Thread: Ukulele store for sale

  1. #11
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    Jan 2013
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    Been to this store several times. Nice couple own it (a percussionist and a uker). It’s in a little strip mall bordering Tamiami Trail in the gulfcoast town of Nokomis. I think Covid, as well as unrelated health issues, may be prompting the sale. They hosted monthly jams before Covid and did a lot of small group instruction. They were an integral part of a pretty large local ukulele community and folks supported them by buying ukes and related items in their store. Sorry to see them go.

  2. #12
    Join Date
    Sep 2018
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    NorCal
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    The full post did say that March, 2021 was the largest for sales ever.

  3. #13
    Join Date
    May 2020
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    Quote Originally Posted by EDW View Post
    Having the shop means the UAS would be taken care of. Kind of 2 birds with one stone.....
    You're just trading UAS with another set of problems.

  4. #14
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    Mar 2011
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    Ottawa, Canada
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    Quote Originally Posted by rainbow21 View Post
    Wow...

    It's tough enough dealing with UAS. Now we have to consider whether to buy an uke store...
    Haha. That is very funny!

  5. #15
    Join Date
    May 2020
    Location
    Norman, OK
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    Quote Originally Posted by EDW View Post
    Having the shop means the UAS would be taken care of. Kind of 2 birds with one stone.....
    Or it might be the start of USAS (ukulele store acquisition syndrome).

  6. #16
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    Sep 2018
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    PNW
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    that is quite sobering
    Quote Originally Posted by plunker View Post
    I looked at some music stores for sale. They are selling for about 4 x cash flow. If this hold true cash flow is about $30,000 per year. I would guess a real mom and popper with little help. Love of music and people better be there.
    keeping an eye out for a very special pre-owned concert....

  7. #17
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    Sep 2018
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    NorCal
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    Quote Originally Posted by plunker View Post
    I looked at some music stores for sale. They are selling for about 4 x cash flow. If this hold true cash flow is about $30,000 per year. I would guess a real mom and popper with little help. Love of music and people better be there.
    I don't believe this. If you plug in a $100,000 loan for 5 years at 5%, it comes to about $1900 per month for loan payments. Add rent, staffing, inventory costs, and you will lose money for the entire period of the lease, and then lose more when you have to renew the lease.

    You would be better off just buying an uke every month. It would cost a lot less and you can practice a lot more. Any business with annual revenues of $30 k is better closing.

  8. #18
    Join Date
    May 2020
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    Quote Originally Posted by rainbow21 View Post
    I don't believe this. If you plug in a $100,000 loan for 5 years at 5%, it comes to about $1900 per month for loan payments. Add rent, staffing, inventory costs, and you will lose money for the entire period of the lease, and then lose more when you have to renew the lease.

    You would be better off just buying an uke every month. It would cost a lot less and you can practice a lot more. Any business with annual revenues of $30 k is better closing.
    Cash flow and revenue are different.

    You can have negative revenue and still have positive cash flow! Remember all those get-rich-quick schemes where they tell you that you get cash every time you "buy" a house? Man, those were pretty amazing that they are allowed to advertise on TV.

  9. #19
    Join Date
    May 2020
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    I think if anybody's ready to start a uke store now, it is best to first just do an online store. You don't need much of anything and you get good exposure at sites like reverb and uke festivals.

  10. #20
    Join Date
    Apr 2021
    Location
    Nokomis, FL
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    3

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    Hi all, Jeff Hanna of The Ukulele Place here. If you have questions, just call me anytime: 941-966-5800 It's a cell phone, with me all the time. I'd enjoy a visit with you, and spare you from this speculation. Cheers, Jeff

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