Bicycle Store, Cycle Workshop and Bike Fitting
Reason to sell
Retail and online sales
Location : SE England
Asking Price : £100,000
Established in 2009, this business is now a thriving bicycle shop and on-line retail store in one of Kent’s largest well-known towns. The business is a UK dealer for Specialized, Bianchi, Cannondale, Ridgeback and De Rosa bikes and has gained recognition from the leading manufacturers and signed deals giving exclusivity to the store. This in effect means there is no local competition due to the designated trade area agreement.
Cycles are sold ranging in price from £300-£10,000 each
All associated equipment is on sale including clothing, wheels, helmets and accessories. Enjoying exclusivity in the town for certain brands, this business also provides servicing and repair work. The shop also offers Bike Fitting, which with systematic customisation of the bike ensures that the bike and rider are in perfect harmony. There are 3 trained bike fitters on site.
The cornerstone to the success of this business is the very high levels of personal service expected of a small independent retailer. Such is the expertise available that anyone purchasing a new cycle from this business is sure to leave with the correct one in terms of type and size and fit for purpose.
The store has been in situ for twenty years and has c4,000 customers on the data including private and corporate clients.
The business owns the Brand name, which is already well known and recognisable with and excellent reputation.
: The business is reluctantly offered for sale due to personal circumstances.
Support and training
: The owner will provide full familiarisation, training and handover to ensure a smooth transfer of the business to new owners. However the vendor could remain in situ as a partner if possible, so a replacement investor in the business would be considered.
: The business has excellent opportunities to maintain and generate new revenues from its very loyal customer base, as clients will return for accessories, upgrades and repairs as well as generating new sales via referrals.
In addition other areas for growth moving forward would be to take the current brand and system and open another ‘Hub type’ retail store, possibly investing and expanding into 2 more major locations.
The growth in popularity of cycling within the UK has been dramatic over the last few years and this trend is expected to continue as more and more people look to take up this activity. This is only going to fuel the overall demand for this business’s offering moving forward, especially as riders will progress over time to the higher end of the market as their proficiency increases.
: The business has a professional e-commerce website that has on line brochures and also with excellent rankings on the search engines plus advertising on line brochures. The business utilises local media for distributing flyers.
Situated in a good location this business enjoys high levels of awareness within its local marketplace.
By far the most effective form of marketing is the strong word of mouth recommendation the business enjoys – particularly in relation to its service and maintenance capabilities, testimony to the high levels of customer satisfaction the business engenders.
: The business is based in a large well known town in Kent and operates from leasehold premises on a ten year lease. Annual rent is £31,000 with rates of £16,662.
The property is situated on the high street with plenty of passing footfall and has a large frontage giving room for excellent window displays to showcase the stock. Spread over three floors of circa 6,000 sq. ft. the ground floor comprises of a large showroom of circa 2,000 sq. ft.
The store is secured with an alarm and CCTV.