Summary
This Perth contemporary music school, teaching community and performance space enjoys an excellent reputation in the WA music scene. Highly profitable, well-staffed, and very rewarding.
Revenue
$540,000 pa
Location Details
Brilliantly situated just 10 minutes from the Perth CBD within the Osborne Park industrial area this highly visible location ensures heaps of passing traffic, easy access for customers, out-front parking and no issues with noise.
Hours
2pm - 9pm Monday to Friday
9am - 5pm Saturday
Lease
Current lease to 2027 with a two year renewal option
Reason for Sale
The current owners have overseen a period of significant growth in the business, trebled the amount of usable tuition space, and generated a 4-fold increase in trading income since taking ownership in 2016.
They have also had a huge amount of fun during that time, but now approaching 60 years of age, it is time to let someone younger and fresher step in.
About the Business
This is an independently-owned contemporary music school with a difference. There is a large roster of long-term students taking individual lessons in modern instruments such as electric guitar, drums, bass and vocal lessons, but the school is best known for its band mentoring program which consistently produces some of Perth's best young rock and indie artists. Based in Perth, Western Australia, this business has a very loyal customer base, plays a prominent role in the local music industry, and has a teaching roster of talented and dedicated staff.
Revenue is generated from three separate but complementary activities:
- band program mentoring fees
- individual tuition fees
- live performance ticket sales
The business differentiates itself from other local schools through the quality of its teaching staff, the authenticity of the rock and roll experience it offers, and regular live showcase gigs held in some of Perth’s best music venues.
At the time of listing there are approximately 25 bands in the band mentoring program, in addition to 200 students enjoying one-on-one tuition. The majority of students are aged from 10 - 25 but there are a growing number of adults taking individual lessons.
The business premises include a large reception area, three purpose-built band rehearsal studios, four teaching rooms, and a dedicated live performance space that stages regular live shows. There is good parking out front and on the street.
The current owners choose to play a hands-on role in the management of the business, but the day-to-day running is taken care of by the staff. New owners could easily choose to be far less involved and enjoy a reliable passive income.
There is great potential to grow the business via expansion into larger premises or a second location; developing a pre-school toddlers' musical education program; or admitting more adult students into the program.
The sale price includes all musical instruments and equipment valued at approx $80,000 (replacement value).
Full financial statements are quickly available on request.
History
Originally established in 2008, the current owners purchased the business in 2016 and have invested heavily in uplifting the quality of the customer experience, modernising the premises and equipment, and greatly increasing marketing and social media activity. This has seen student numbers grow by around 500% in the last 8 years.
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