It’s almost unbearable for Paul Sullivan to think that his Uptown Glassworks might have to close.
But he’s facing economic realities, not unlike those faced by other businesses in Renton and families across the nation.
Time is running out for Sullivan. Unless he can find a buyer – or buyers – for the iconic shop on Main Avenue filled with colorful works of glass fired in intense heat, he’ll close on Christmas Day.
So, as he says, he’s looking for a Christmas angel.
“The business has a future, if someone can step up and guide it through this economic squeeze,” Sullivan said.
That future won’t include Sullivan in any ownership arrangement. He has a mountain of debt, mostly a personal one from gladly caring for his father who died several years ago after a long battle with Alzheimers.
He doesn’t want debt to continue to weigh down on Uptown Glassworks, which opened 16 years ago under different ownership.
And, like other businesses in Renton, the recession has hurt his bottom line somewhat, but still sales have been strong and he’s headed toward profitability this year.
“We are booking record sales,” he said.
Last winter’s storm didn’t help. A furnace cracked when the power went out. For a glass blower, that’s an economic disaster.
Sullivan thought he was the perfect candidate for disaster aid from the Small Business Administration. But after five months of shipping off paperwork, he was told he wouldn’t qualify because he didn’t have a positive cash flow.
“They could have told me that at first,” he said. Those who need help need it right now, he said, to get through the tough times.
Quietly, he has been trying to find that “angel” for the past several months. He didn’t want to make known his plight too early because he feared such an announcement could hurt business.
Now, the time has come to go public as Sullivan says time is running out for him.
Sullivan had a plan for success when he bought Uptown Glassworks in early 2007, after his father died. That plan included heavy investments on in the business for the first two years, then turning profitable in the third year.
That plan was working, but it involved what he called a “high-risk funding method.”
Now, with credit tight, he just can’t get the dollars he needs to finish fulfilling his plan or to restructure his debt.
“The fates conspired against me,” he said.
All that effort has given him an intimated knowledge of how to run Uptown Glassworks. He would like to stay on in some capacity to help run the business.
He’s willing to sell the business for $100,000; with the right plan, that investment could grow in value to $1 million, he said.
A longtime businessman and resident of Bryn Mawr, Sullivan years ago sold a successful record company. He has been active in downtown Renton committees and has taken part in an effort to develop a master plan for the arts in Renton.
Novice glass blowers of all ages, including kids from St. Anthony’s School, have come through his doors to create all manner of glass objects. He has six employees, including two full-time glass blowers on staff who produce much of his wares. The rest is on consignment from glass blowers from throughout the Northwest.
Sullivan just can’t picture Uptown Glassworks empty. There are certain anchors that have helped downtown revitalize, he said.
“This is one of them,” he said..
Buyer for Uptown Glassworks
Any individual or any group interested in purchasing Uptown Glassworks can contact owner Paul Sullivan at 425-228-1849 or e-mail him at paul@uptownglassworks.com. The business, open seven days a week, is at 230 Main Ave. S., in downtown Renton.