SOLD – Profitable, Well Known Bike Shop with Additional Profit Centers
Business Type:
Apparel and Accessory Stores
Asking Price: 99995.00
Gross Revenue:
440155.00
Cash Flow: 129675.00
FF&E Value: 28000.00
FF&E Included in Sale: Yes
Inventory Value: 99995.00
Inventory Included in Sale: No
Real Estate Value: $
Real Estate Included in Sale: No
State: Virginia
City/County: Woodbridge
Year Established: 1984
Employees: 3-5
Listing Number: HZ236DZ
Listing Broker: Dustin Zeher
Broker Contact:
571-437-5135
Broker Email:
dustin@horizonbrokers.com
Business Summary:
The business is very well known in the community with a great reputation as it has been a top rated shop by The Washington Consumer Checkbook year after year with the best prices and service in the Washington DC Mero Area. Their repeat and loyal clientele base over the years appreciate the competitive prices and the personal attention they receive as the staff ensures each customer’s interests and needs are properly met.
The Bike Shop offers a range of bikes from the beginner on training wheels to the experienced and competitive bike rider. The business also sells Ski & Snowbaord equipment, accessories and even provides equipment rentals which aren’t found in other bike shops; this provides another great profit center for the business to get through the winter months which is typically a slow time of the year for most bike shops. The Shop also offers a full line of accessories and retail products to outfit all of your needs, whether it is clothing, protective & safety gear or parts, which can be installed for you in their full service repair department performed on site by trained mechanics. Most repairs are made within a couple of days so the customer can be back out enjoying themselves!
With established vendor relationships (6 bike vendors, 1 skate vendor and 6 ski & snowboard vendors) that provide great terms, a loyal customer base of over 2500 active customers receiving newsletters about Sales, Consignments and Trade In Programs and with the plan of a BMX & Skate park to be built very close to the Bike Shop the business should see increased revenue and profitability moving forward. This business would be great for someone that has experience or a passion for the industry or for someone just looking for a profitable, easy to manage business in an industry that has been around for hundreds of years and will not be going anywhere as bikes are a common form of transportation and fun! The current owner has enjoyed the business and earned a great living while sharing in the joy of serving the community and so could you!
Description of Facilities:
The bike shop in the heart of a large residential community located in a high traffic retail shopping center with Major Anchors. The business has been in the current location since 1991 occupying a 4200 sq ft space which is currently leased for approximately $5300/mo. The buyer will negotiate a new long term lease with the landlord, favorable terms and rate should be obtained with a new long term lease.
Competition:
There is limited competition in the immediate area with only one other Bike Shop in town, which is serving a different area of the market. This Bike Shop sets itself apart from that shop and virtually all others as it also offers Ski & Snowboard as well as Skateboard Equipment Sales and Service.
Growth & Expansion:
There is great opportunity for growth with this business for a new active owner operator by simply increasing local marketing and advertising efforts as well as expanding on current profit centers that aren’t being fully optimized, specifically Ski Rentals & Service as well as Bike Service. New electric bikes could be added as a whole new profit center as that category is becoming very popular and growing!
Seller Financing Available:
Yes
Seller Financing Terms:
Available depending on the final purchase price, terms and qualifications of the buyer.
Reason For Sale:
Owner is retiring.
Seller Support & Training:
Seller will provide necessary training and support.
Get More Information:
To learn more about this business including the name, location, and financial information please complete and return our Buyers Package, which can also be downloaded here, and returned to us at admin@horizonbrokers.com.
Download:
Great opportunity to purchase a Bike Shop that has been proudly serving the community since the early 1980s.
