Acquiring Minds Passion, Meet EBITDA: The Joy of Buying an Art Gallery
Nov 6, 2023
Sean Moore, an art collector, shares his journey of buying a fine art gallery with over $1m SDE. He talks about pulling $1M from his 401k, the ecommerce aspect of the gallery, the additional revenue stream of a frame shop, improving the gallery website, and forming a connection with the seller. He also discusses using ROBS for acquisitions and negotiating earnest money with the seller.
Chapters
Transcript
Episode notes
1 2 3 4 5 6 7 8 9
Introduction
00:00 • 3min
The Journey of a Gallery Owner
03:02 • 11min
Exploring the Business Broker Market and Discovering an Art Gallery Opportunity in Cherry Creek
14:05 • 5min
The Journey to Buying a Business
19:13 • 11min
The Business of Art Galleries: Exclusivity, Competition, and Online Presence
30:23 • 18min
Sales Figures and Revenue Breakdown
48:19 • 9min
The Importance of a Good Lawyer
57:40 • 8min
Using Retirement Money for Aspirations and Creating a C corp with Guidant
01:05:41 • 2min
Acquiring a Property: Rules, Compliance, and Equity
01:07:45 • 32min