Turnkey Bike Shop - Great Staff

Not Disclosed, IL
Winnebago County

Northern Illinois


Asking Price: Annual Revenue:
$498,500 $1,235,800

Retail: Sporting Goods, Recreation


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RE: Turnkey Bike Shop - Great Staff Broker: Andrew Rosenthal
Owner Financing is Available!
Negotiable with a strong offer.

Quick Facts

Asking Price: $498,500
Annual Revenue: $1,235,800
Net Profit: Not Disclosed
Cash Flow: $280,855
Total Debt: Not Disclosed
FF&E: $100,000
Real Estate: $1,000,000
Year Established: 1998
Employees: 5
BBN Listing #: 870449474
Broker Reference #: 17563

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Business Overview:

Opportunity to acquire a thriving bike store with a well trained staff. The real estate is also available for purchase. Located in busy shopping district. This shop has been in business for over 20 years and is the only dealer of a certain high end bicycle brand within 40 miles. The shop offers bicycles and accessories for the whole family as well as high-end cycles for enthusiast. The business is located in an up and coming, business friendly area. The business has thrived in 2020 and the positive outlook continues as consumer trends are moving towards eco-friendly means of transportation and outdoor recreation/adventure sports. The shop also sells E-Bikes, battery assisted bicycles that are practical, environmentally conscious, and fun. E-Bikes are already popular in Asia and Europe and quickly gaining popularity in the USA. The shop also has a thriving repair business, and the staff is cross trained to handle all aspects of the operation. The owner enjoys working at the business but does not have to be there to supervise day to day activity. The business allows for a comfortable lifestyle in a fun and growing industry. Please contact info@lighthousebusinessbrokers.com to sign the NDA and receive the prospectus. Please keep this confidential and do not under any circumstance disturb the employees.


From NDP Industry Reports: (https://www.npd.com/wps/portal/npd/us/news/thought-leadership/2020/consumers-are-flocking-to-these-5-activities/)Cycling

Shortly after stay-at-home advisories were announced in the U.S., the cycling industry gained momentum from new cyclists.
Many consumers sought family-based activities to keep everyone’s health in check. Dollar sales of bicycles continued to accelerate in June 2020. Sales were up 63% compared to the same time last year. While cycling growth in the early months of the COVID-19 crisis was largely generated from sales of family-friendly bikes, June’s growth came from higher-end bicycles typically purchased by enthusiasts, including road bikes and full suspension mountain bikes.

Sports industry analyst Dirk Sorenson attributes the shift toward higher-end bikes to inventory shortages in more family-friendly categories, as well as cyclists who are now more willing to invest in the activity for the long haul.

Dollar sales of bicycles increased 63% in June 2020 versus the same time last year.

Bicycle sales reached $697M in June 2020.

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Property Features and Assets:

7,000 Square Feet, custom built for a bike shop, located in a high traffic shopping district with great exposure.

Market Competition and Expansion:

This is the only remaining bike shop in the area with an exclusive agreement with a well-known, high quality bicycle brand. No other shop can sell this brand within a 40-mile radius.

Reason for Selling:

Retirement

Additional Details:

  • The property is owned.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

Relevant Links:

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