One other thing to consider, it looks like they did some long arm quilting there. I wonder how much of that income was made by the person who was doing it?
We repair musical instruments here at our store, and both hubby and I are repair technicians. This extra income allowed us to finance our store, literally providing the cash needed to expand the business. But we sure didn't take much dough home in the meantime, and it was a LOT of work.
Service income is basically trading time for money, always. To get a real clear picture of how profitable this store is, you would have to get a financial breakdown of how much was service income and how much was sales.
I know, I know, but just think of being able to have, at your disposal on any given day, a STORE FULL of fabric to choose from. It would be dreamy for me!
And I have to admit that I have thought of opening my own quilt shop on many occasions. :D