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Bike Shop - Great Staff - Prime Location For Sale

Northern Illinois, Illinois, US
Asking Price:
$498,500 (USD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$1,235,800 (USD)
Cash Flow:
$280,855 (USD)

Rare opportunity to acquire a thriving bike store with the real estate available for purchase or rent.
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 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:

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.

Property Information

Real Estate:

Real Property Included

Location:

Northern Illinois

Premises Details:

7000 SF, custom built for a bike shop, located in a high traffic shopping district with great exposure.

Size in square feet:
7,000

Business Operation

Expansion Potential:

Consumers are trending towards eco-friendly and outdoor adventure sports, with cycling leading the way. There is plenty of room to add SKU's and online sales are untapped.

Competition / Market:

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.

Reasons for selling:

Retirement.

Trading hours:

Mon - Fri: 10:00am - 6:00pm; Sat: 10:00am - 5:00pm; Sun: Closed

Employees:
5
Years established:
1998

Other Information

Support & training:

Seller will provide transition training and ongoing support. Staff is cross trained and expected to stay on.

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

Negotiable with a strong offer.

Furniture / Fixtures value:
$100,000 (USD) - included in the asking price
Inventory / Stock value:
$80,000 (USD) - included in the asking price

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