City Business Brokers is pleased to bring to market an exceptional opportunity to acquire a very well-established and popular cycle sales and repair business with five figure net profits.
The business was started by its current owner in 1996 and it has transformed and expanded several times to become a destination cycle shop with 480 sq feet of showroom, showcasing in excess of 50 bikes.
The shop caters for all types of customers to include children’s bikes, commuting and hybrid bikes, ladies’ bikes, mountain bikes, BMX and road bikes for not only for the hobby cyclist but also semi-professional and professional cyclists.
The current range encompasses Merida, Bianchi, Eddy Merckx, Ridgeback, Genesis and Raleigh. The business also carries a highly profitable large supply of spares and accessories from Shimano, Schwalbe, Campagnolo and Continental tyres, as well as stocking Funkier and Altura clothing range.
The shop has enviable repeat business due to its excellent reputation and word of mouth recommendations for bike sales, which has resulted in a loyal client base with lots of repeat trade. It also caters for a significant number of repairs offering a full range, from a simple puncture repair to a full rebuild.
Since inception the shop has seen significant year on year growth and with the current popularity of cycling in the UK, as well as government incentives, this is set to continue. Whilst the business is hugely successful and profitable there is real potential to further grow and expand by increasing the range of retail stock, conducting proactive marketing campaigns as well as introducing a website and social selling, an area that has not been exploited by the current owner.
This is an excellent opportunity for an enthusiastic individual wishing to acquire a well-established business and build upon the current success. This would be an ideal lifestyle business with full transition and handover support being offered by the current owner.
The Business enjoys a current turnover of circa £150-200000 with reasonable profits.
The business also has the benefit of a one-bedroom apartment above the premises which has recently been refurbished and is currently let on a rollover tenancy at £5,400 per annum.
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