$574,500.00
Asking Price
Status: Active
Posting ID: 282791
9/11/23
Description
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 many wonderful attributes. The growing population of the city bodes well for the 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.
Location: San Francisco East Bay Area – Alameda County
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.
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.
Growth/Expansion: 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 offer the opportunity to serve even more customers. Along with the addition of more housing, the city has been continually updating infrastructure to include even more designated bike routes. In addition, electric-assisted bikes are becoming very popular and encouraging more people to ride. The shop’s inventory can be adjusted to include more e-bikes as demand for those products grows. Another good source of increased revenue might be to expand the shop’s small rental fleet of bikes to serve the increasing number of tourists drawn to this city.
Support/Training: The seller will provide necessary training and will help a new owner successfully transition into this business. Plus, the employees, most of whom have worked in this shop for a number of years, should be very helpful in the ownership transition process. In addition, the business has a detailed handbook of policies and procedures, as well as efficient technology to support most aspects of running the business.
Reason for Sale: Personal
Year Established: 1969
Employees: 5 full-time and 2 part-time, all highly competent and reliable. They like their jobs and it is very likely they will want to stay working in this shop under new ownership.
Financing: The seller anticipates an all-cash sale but may provide some financing for a well-qualified buyer who makes a substantial down payment.
Contact the listing broker for further information.
To get more information about this Award Winning Bike Shop business for sale in SF East Bay please phone Phil Holt (Broker - BRE License #:01731143) at 510-523-0232 and 415-565-0232 - if you get voicemail please leave a detailed message - make sure you mention you saw this posting/ad #282791 on BizBen.com. In addition to phoning Phil Holt, make sure you email Phil Holt above to get more info about this Award Winning Bike Shop, to ask any questions or request an appointment to see this business for sale. Thank you. License # 01731143. Sunbelt San Francisco/Oakland.
Contact
Phone: 510-523-0232 Phone: 415-565-0232 Details
Asking Price: $574,500.00
Down: Call/Email
Cash Flow: $138,000.00
Revenue: $2,249,000.00
Area: SF East Bay
City: None Given
Attributes:
My Notes About This Listing
Cash flow
N/A
Revenue
N/A
Down
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Cash flow
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Revenue
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Down
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Down
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Cash flow
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Revenue
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Down
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Down
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