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Mon, Aug 03 2020 10:42:29 AM  |  /

Cycling & Skateboard Retail Shop in a prime High Street Location

Business Id:000286     |    Reference: AM175
Leasehold Price:
£100,000.00
Business Description

Cycling & Skateboard Retail Shop in a prime High Street Location
Ref. AM175
Location : Hertfordshire
Asking Price : £100,000 + SAV

Well known in the locale for the wide selection of products, from recognisable road & off-road leisure bikes to electrically assisted bikes, including tricycles. The business benefits from unopposed competition and dealership agreements with many prestigious Brands. As well as bikes the business has a growing following with the local skateboarding and stunt scooter communities and is a real destination location for young and old enthusiasts to visit for boards, parts, accessories and repairs with its fully equipped workshop with approved Bosch ebike Dealer and Bosch Certified ebike Service Centre credentials.

Not surprisingly, the shop enjoys a good level of patronage – including circa 300+ active customers on company database; the store enjoys a high perecentage of repeat custom.
This opportunity is an ideal business for anyone looking to engage with the Cycling or Skateboarding sector or for someone already in the sector looking for a strongly performing, additional outlet to bolt on to their existing business activities.

 

 
Business Information
Turnover:£220,000.00 Annually
Profit:£58,000.00 Annually
Property Status:   Leasehold
Leasehold Term: Rent is currently £875.00 /month
Is this business relocatable: No
Business Sector: Leisure businesses, Outdoor Adventure Businesses, Recreation centres, Cycle Shops
Statistic Information
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Business Profile
Equipment: The shop has all the equipment normally associated with a business operating in this sector and uses specialist Electronic Point of Sale (EPOS) equipment and software for sales, stock and customer statistics management.
Key strengths: Ideally located in this prime High Street position close proximity to many other successful retailers in a busy parade of outlets, with its tremendous passing trade due to imminent significant increase thanks to the major investment/ rennovation works currently undergoing in the immediate vicinity and surrounding Town Centre areas. The shop has an extensive selection of stock, monitored regularly and that has been popular with customers over many years. The breadth of product choice in combination with the quality of service provided by the knowledgeable and attentive staff, makes this shop stand out among the many competitors, including online alternatives. The shop is very well known and established in the area. The shop is run and managed on a day to day basis by the vendor and staff.
Key Opportunities: By possibly introducing other complementary products and services it could capture more of the local market.
Financial performance: The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler. Trading is robust and we are informed by the vendor that his accounts for the current year will show: Turnover circa £220,000 per annum (Current year) Adjusted Net Profit circa £58,000 (Current year) The forecast for next year is: Turnover circa £300,000 per annum (Forecast next year) Adjusted Net Profit circa £83,000 (Forecast next year)
Asking Price: £100,000 + SAV
Advertising and Marketing: The business has an attractive and informative website and free listings in local publications and their online versions.
Growth and Expansion: The business has grown organically and with further marketing for both the shop and the regular updating of the website could build on the existing excellent customer base. In addition to this a new owner could open the shop for longer hours or bring new ideas for new product ranges to the customer base.
Premises: The premises are leasehold with a 5 year renewable lease. The square footage is circa 800 sq. ft and includes a shop floor, stock room and office area with a large safe. Rent is currently £875.00 /month The lease contract is due for renewal in 2023
Business Hours: Monday – Friday : 10:00 – 17:00 Saturday: 10:00 – 17:00 Sunday: Closed
Employees: The Company currently employs 3x Staff: • 1x Managing Director (Vendor) • 1x Sales Assistant (working at the shop, part-time, Saturdays) • 1x Marketing Assistant (working from home, part-time, 8 hours/ month)
Support and Training: The vendors would be happy to stay and hand-over and are happy to provide training for an agreed handover period.

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