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Major New England Art Gallery Announces Transition Plan Toward New Ownership

Jun 21 2013 12:00AM

Marketwire

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WELLESLEY, MA -- (Marketwired) -- 06/21/13 -- Now in its fourth decade in business, J. Todd Galleries' founders and owners have put forth their plan for the next couple of years, and a transition plan into their gradual, eventual retirement from their Wellesley, MA business.

Robert and Phyllis Totaro, the sole owners of the business, said today that they are seeking prospects interested in discussing acquisition of their nationally known Wellesley gallery business. The gallery is currently one of the largest and longest operated in New England, with a highly respected brand and unique positioning in the New England art market. The couple, both transplants from management positions in hi-tech industries, began the business with just their personal art collection as its inventory. Today it houses thousands of works, and has handled over 45,000 works through its storied history. The company now does business nationwide, and has had many international clients, both through the Wellesley gallery and through its extensive web presence (http://www.jtodd.com/) and social media. Wellesley, one of New England's highest per capita income suburbs, is a bedroom community just 15 miles west of Boston.

"Sometimes people think of an art gallery as a simple showroom where paintings are hung and people come and buy them," says Bob Totaro. "A lot of tourist area galleries work this way. But ours is really a full-service art business, offering much more than that." Totaro goes on to explain that the business encompasses art restoration services, art appraisal, corporate art consulting, a very broad base of custom framing and even lighting consultation. "We learned a lot of it 'on the job' and we are interested in teaching a new owner everything we know," says Totaro. "A new owner or owners (probably avid art lovers) will have the benefit of having the best teachers of 'Art Gallery Operations' in New England as their mentors," he says. "And key personnel and artists would also like to stay on board, which is important. And if someone wanted to, they could easily divide the enterprise into two parts -- an Art Gallery and an Art Services business, each with its own management," he explains.

"Some folks have asked us if we're planning to go out of business, or if we're getting ready to move to Cape Cod near our new Chatham gallery, but we will not be doing either. We have always been profitable, we have no reason to let the business stop operating, and we love our home near the Wellesley gallery. We have thousands of loyal clients that are relying on our staying around in some capacity. Our goal is to find just the right buyer(s), who are serious about owning and running the business and who can rely on our sticking around for a year or so after the acquisition, and maybe longer in some capacity," said Totaro. "The company is also in a very strong position to be grown if a new owner has that desire, and we could certainly guide them in that effort."

The owners welcome serious inquiries by email at galleryinquiry@aol.com or by telephoning Bob Totaro at 617-435-3434. Please furnish your name, physical address, email address, phone number(s) and your company affiliation, if applicable.



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Bob Totaro
617-435-3434
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Source: Marketwire


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