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Golden Apple for Sale On eBay Date: 12/28/2011 |
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Longtime Hollywood landmark comic store Golden Apple is being offered for sale on eBay at the ?buy it now? price of $679,000 (or best offer). Golden Apple was founded by Bill Liebowitz in 1979, and as we described it in our obituary for Bill, he ?almost singlehandedly invented the pop culture store, a place where comics, toys, licensed merchandise, imports, and other products were displayed and cross-merchandised in a wonderful m?lange that delighted all who shopped there.? At the time of his death in 2004, we described the store on Melrose Avenue in Los Angeles currently for sale as perhaps ?the best-known comic store in the country? (see ?In Memoriam: Bill Liebowitz?). There?s more competition for that title now, but Golden Apple is certainly among those best-known stores, and it exemplifies the history of the comic store in America since its founding during the very earliest years of the direct market. And due to its location and the owners? management style, the store has been a unique hotbed of store events over the years, from product launches to signings to movie events. The sale is being managed by Ace Business Brokers on behalf of owners Sharon Liebowitz and her son Ryan Liebowitz. A section of the sale information described their reasons for selling. ?The principal owner is nearing retirement age and wishes to divest herself of the Company for personal reasons,? it said. ?The seller?s son, Ryan Liebowitz, loves the comics industry, but is no longer passionate about being a retailer. He has many other business ventures and he is excited about the prospects of continuing his career that he put on hold in 2005 to run the family business.? Some of the background information also describes working conditions familiar to all retailers. ?The sellers, Sharon Liebowitz and son Ryan, are both hands-on, detail-oriented owners, which results in very long workdays. This management style, combined with their active presence within the comic industry at large (traveling to trade shows, conventions, meetings, etc?), have resulted in many long days over the years.? The store?s sales in 2010 were described as 58% new comics, 32% graphic novels and books,a nd the remaining 10% devoted to other categories. The top small categories were collector supplies at 2.9%, toys and games at 1.9%, and back issues at 1.9%. Assets included in the sale are the inventory (at over $300,000), the marks, URLs, customer lists, supplier relationships, subscription accounts, fixtures, and the lease to the high-visibility building on Melrose. Cash, prepaid expenses, and liabilities are not included in the sale. Sellers cite the growth potential of e-commerce in addition to the possibilities of the brick and mortar store. |
| Source: ICv2 |
