Dallas Community Bike Shop with Heart 19896

Dallas, TX
Dallas County


Asking Price: Annual Revenue:
$225,000 $369,629

Services: Non-classifiable


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RE: Dallas Community Bike Shop with Heart 19896 Broker: Jeff Adam
Owner Financing is Available!
Price $225,000. Seller will finance $25,000 to qualified buyer.

Quick Facts

Asking Price: $225,000
Annual Revenue: $369,629
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: $30,000
Real Estate: Not Disclosed
Year Established: 2015
Employees: 3
BBN Listing #: 385718963
Broker Reference #: 19896

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Business Overview:

Are you PASSIONATE about cycling? Are you an advocate for better community cycling infrastructure? This community centric bike shop provides quality bicycles, employee tested gear, industry certified bicycle technicians, a fleet of professionally maintained bicycle rentals, and free services that take the complication out of owning and riding a bicycle making it easier to get on a bike instead of getting in their car every day. Their target market is college educated professionals and urban dwellers aged 24-40 who live within 5 miles of the store.?These tech savvy, active lifestyle customers think of THIS business as their local bike shop where they can find great products, excellent customer service, and quality and affordable bicycle repair.
The business is in the Deep Ellum neighborhood of Dallas, directly on a major cycling thoroughfare that takes cyclists to and from Downtown to East Dallas. Deep Ellum is one of the most historically significant neighborhoods in the city. The district boasts the city's largest collection of commercial storefronts from the early 20th century and includes many individual structures significant in their own right. Currently, the neighborhood is THE entertainment district in urban Dallas, where the cities’ best restaurants and bars are located.
The company started with 2 people and has grown to 2 full time and 2 part time employees carrying 4 major bike brands (including 3 brands that they exclusively sell in Dallas). Since opening, the company has sold 1,000+ new bicycles, and serviced 5,700+. They have added 2 consistent monthly bike rides and monthly mechanic classes and have social rides that attract over 100 riders per ride. They have built a loyal clientele who call them their favorite bike shop. The seller states that the business has excellent books & records and can prove all sales & expenses.
The owner feels that the major advantages over competitors are their professionalism, hosting well organized and fun events, great staff, location, and engaging the community in advocating for better bike infrastructure. This company is in the early stages of becoming very successful and setting a standard in the bike industry as a model bike shop. The owner hopes to find a buyer who has the passion and energy of continuing the business legacy. It is a business that brings the community together and that is what makes it successful. The business is recession-resistant, and a new, energetic owner can further increase sales & profits in many ways.
The asking price for the assets of the business is $225,000. The Seller will consider seller financing of $25,000 to a purchaser qualified/approved by the seller. All financing is to be personally guaranteed. Seller prefers to sell for ALL-CASH. Seller Financing is subject to Seller’s Approval, in Seller’s SOLE discretion and responsibility, of the Purchaser’s financials, Credit-worthiness and suitability as the Purchaser. The assets include inventory at cost of $85,000, Accounts Receivable of $0 and FFE (Furniture, Fixtures and Equipment) used value at $30,000.

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Property Features and Assets:

The business occupies approximately 1,950 Square Feet of converted warehouse space, leased for approximately $3,346/month (plus NNN) of approximately $1,194/month. The current 5-year lease expires June 15, 2020 with one 5-year market rate option. Base Rent increases to $3,900 in April 2019. Security deposit is approximately $3,938.88. Seller believes that landlord is willing to offer a long-term 5-year lease and 5-year renewal to a qualified purchaser.

Market Competition and Expansion:

Competition:The bicycle industry is very competitive. The business targets customers from a 5-mile radius. Local Hub's biggest competition includes dockless bike share. However, since the City of Dallas Regulations were enacted on dockless bike companies in June 2018, the amount of dockless bikes on the ground has been reduced significantly. Other competition includes bike shops who are located within a 5 mile radius of the store. Transit Bicycle, Red Star Bicycles, Bicycles Plus, and Richardson Bike Mart on Garland Road are all within that radius. Despite the presence of well-established competitors, the owner feels that their community centric bike shop thrives by providing quality bicycles, employee tested gear, industry certified bicycle technicians, a fleet of professionally maintained bicycle rentals, and free services that take the complication out of owning and riding a bicycle making it easier to get on a bike instead of getting in their car every day. Growth & Expansion:The business uses digital and event marketing, and strategic partnerships to promote the store. They have a digital strategy that includes daily posts to Facebook, Instagram, Twitter, LinkedIn, monthly blog posts, targeted paid ads for special events. The website is regularly updated as well as their Trip Advisor and Google business page. Google analytics and Google console are integrated with the website and allow the owner to review analytics after special events or posts. There are many opportunities to grow sales and profits. Along with 2 monthly bike rides, the business hosts free and paid bike maintenance classes, and social rides throughout the year. A recent social ride that was posted as a Facebook event attracted 7,000 views with registration capped at 100 riders a week before the event.

Reason for Selling:

Relocation

Additional Details:

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

Documents:

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