BikeBiz Bicycle and cycling retail news
A well-established and popular cycle sales and repair business in Keynsham, Somerset, is up for sale.
The business was established in 1904 and has been in the current owners’ hands since 1995, under the name Go Biking.
According to the agent, Hilton Smythe, the business operates five days a week and generates a turnover in the region of £49,000 per annum, with a gross profit of 52%. The business has reported a turnover of £65,000 in previous accounting years, the firm said, and the business is only now being offered to the market due to the owners unfortunate health problems.
Hilton Smythe goes on to explain: "The turnover is generated from the sale of bicycles including famous names such as Barracuda, Concept, Coyote, Land Rover, Viking & Whistle, Merida, Mongoose and Claud Butler as well as electric bikes and cycle repairs, from a puncture to a full rebuild.
"The business has built up an enviable reputation within the area for the high quality of the goods and services offered, which has resulted in a loyal client base with a high volume of repeat trade and word of mouth recommendations. This business is the only cycle shop within 6 miles and we are advised that 600 plus new houses are being built in the vicinity.
"The property is extremely well-maintained and equipped to suit the trade and boasts a two bedroom flat to the first floor, which is currently rented out generating £650 per month, although it could be used as owners accommodation, should a new owner desire.
"We feel there is scope to increase the turnover by extending the opening hours. The business would also benefit from a small marketing campaign to highlight the goods and services offered. There is already a comprehensive website in place to promote the business at www.gobikingbristol.co.uk. Our client also has a presence on the social media website Facebook for the business but feels further on-line promotion would further benefit the business.
Our client is willing to provide a full handover and is willing to train any purchaser in bicycle mechanics if required.
This is an excellent opportunity for a new owner to take this busy bicycle business to the next level; therefore early viewing must come highly recommended to avoid disappointment.
There are further details available from the agent’s site or via 0845 519 8809
