This very popular bike shop is considered an iconic institution in its city, with the shop’s well-earned reputation known far beyond. It has been profitably dominating its market since 1969 in one of the most bike friendly cities in the Bay Area. This is an outstanding opportunity, especially for someone who is passionate about the many benefits of cycling and who wants to own a business that promotes those benefits.
The asking price is low considering that this is a very well-established, turnkey, profitable business, which includes about $540,000 worth of up-to-date, quality branded inventory. Plus, about $75,000 worth of furniture, fixtures and equipment is also included. Net cash flow to the absentee owner was about $40,000 last year. However, a new owner/operator should expect net earnings of about $140,000 or more. The current absentee owner reluctantly must sell for personal reasons.
The inventory includes several brands of bikes, parts and accessories. The shop carries all the popular types of bikes including mountain, gravel, touring, road, commuter, kids and electric bikes. This shop is Northern California's largest Surly dealer, but also proudly represents other popular bike brands including Specialized, Giant, All-City, Salsa, Tern, Brompton and more.
Besides selling quality products, the shop is also well-known for its very competent and reliable service department. The well-trained, certified and experienced technicians take pride in their work and have all the tools they need for expert customization, maintenance and repairs. The tools and equipment are included in the sale.
The loyal team of employees, from sales to service, are passionate about promoting cycling. They each have their specialties but most are cross trained to effectively function in other roles as needed. And they share the owner’s commitment, not just to the cycling community, but to community service in general.
Every aspect of this well-organized business, including sales and marketing, accounting/bookkeeping and mechanical services are systemized with the help of good technology and a written operating procedures manual.
The shop is strategically located on the busiest retail street of a small but rapidly growing city with many miles of flat and very scenic, designated bike routes. This city is a wonderful place to work and/or live. Among its many pluses are its charming small-town feel, its ideal micro-climate, low crime rate, good schools, well maintained classic and varied architecture, clean tree-lined streets, beautiful parks, beaches, marinas, it’s convenient ferry access, and its great central Bay Area location. And it is booming with carefully planned, smart new developments including hundreds of new homes recently constructed and many more in the building pipeline. These residential developments, plus the newly constructed, major, well-anchored shopping center are drawing more and more people and businesses from all over the greater Bay Area. It has become a very desirable destination city. This premier bike shop in the bustling downtown area is a great business opportunity to take advantage of this city’s so many wonderful attributes. And the growing population of the city bodes well for significant growth of this bike shop’s business.
Don’t miss this opportunity as it may not remain available for long. Interested parties will be required to complete a Non-Disclosure Agreement and a Buyer’s Profile form prior to receiving any additional information.
Facilities:
A total of approximately 3,000 sq.ft. is leased for $7,776/mth + NNN. It is an attractive building on the city’s main, very busy, retail street. The landlord will agree to a new, market rate lease for a buyer of the bike shop if the buyer has an acceptable credit history.
Real Estate Available: No
Real Estate Included: No
Detailed Information:
Lender Prequalified: No
SBA Prequalified: No
Rent: $7,776.00
Is Going Concern: Yes
Market Competition: There are two other bike shops, but they are in the outlying areas of the city and their volume of business is much lower. Thus they are not considered serious competition.
Most of the business for this shop comes from repeat customers, referrals and word-of-mouth. A more robust marketing program should generate more volume. Plus, the ongoing residential development and resulting population growth in this city offers the opportunity to serve even more customers.
