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Osakis General Store and Guns Galore
204 Central Avenue, Osakis, MN, USA
Business Location: Minnesota
General Description
The stores are located on the main floor of a leased brick building that sits on a corner lot in downtown Osakis. The location is one block from Lake Osakis which is about 6400 acres in size with depths of up to 70 feet, excellent for walleye, northern pike and pan fish. The building was built in the early 1900's with the owner living in one of the upstairs apartments. Having residents in the upstairs provides an added level of security from break-ins. vs. if the building was free standing outside of town.
The overhead of the businesses is one reason it has been so profitable. The 5,500 square foot space has been leased for close to 35 years and the local owner has guaranteed it would continue to lease to a new buyer at a very reasonable lease rate as has been in the past. The lease includes heat which makes the cost of utilities quite inexpensive for a store of this size as well. The leased area includes the full basement which is currently used for inventory, shipping, storage and gunsmith services.
Business Description
Osakis General Store is a C corporation and began as a hardware store in the late 1980's with a very small sporting goods section. Over a few short years, it sold out its hardware inventory and morphed into a full-fledged sporting goods store focusing on the great outdoors. The store's attention is primarily on hunting, shooting sports and fishing. The General Store sells ammunition, optics, and a wide variety of other hunting accessories. Beginning handgun and carry permit classes are offered and taught by local law enforcement officers in the basement classroom The fishing department carries a wide range of tackle from small jigs to muskie baits along with Shimano and Fenwick rods, electronics, boat accessories and other summer and ice fishing gear.
The store's sister company, Guns Galore, LLC, carries the FFL for the businesses. Guns Galore carries a full line of handguns, AR's rifles and shotguns with over 1,700 new and used firearms to choose from. The store is a Browning and Benelli full-line dealer. Along with new guns, the store buys, sells and trades firearms. With the availability of an experienced gunsmith, Osakis General Store and Guns Galore have everything needed for the avid shooting enthusiast.
The 5,500 square foot space has been leased for close to 35 years and the local owner has guaranteed it would continue to lease to a new buyer at a very reasonable lease rate as has been in the past. The lease includes heat which makes the cost of utilities quite inexpensive for a store of this size as well. The leased area includes the full basement which is currently used for office space, inventory, shipping, storage and gunsmith services.
Osakis is a small rural community of about 1700 people just a couple miles off of interstate 94 that is well known for tourism. The public access to Lake Osakis is just a block away so the location is perfect for year-round fishing and boating traffic. The store is the closest resource to the public access for bait, tackle and licenses. Only two hours from Minneapolis-St.Paul, it is close enough, yet far enough away from the hustle of city life with the county seat of Alexandria just 12 miles away. Osakis is well-known for its strong community and local school system with both private and public school options. There are a variety of church affiliations also available.
Assets For Sale / Business Opportunities
The store is owned and operated by a local husband/wife team who are looking to retire but who would be available for a period of time to work for a new buyer if requested. There are currently two other full-time and seven part-time dedicated employees. Both businesses are connected utilizing the Osakis General Store front door for access to both businesses as well as added security for the firearms of Guns Galore. For 2021, the stores' combined sales were approximately 3.2 million. The entire inventory of both business entities, equipment and fixtures are included in the sale. Computers and telephone equipment have been recently updated. The location's retail and basement space is owned and has been leased from the same family for close to 35 years. Building heat and water/sewer utilities are included in the lease. Growth opportunity. This region is ripe for an indoor shooting range. The closest indoor range is one hour away in St. Cloud. If the current owners were a few years younger, they would have built a shooting range just on the outskirts of town to accompany the existing businesses. The return on investment with additional gun and ammo sales and range fees could be substantial.