Business Summary

This is a family owned retail bicycle business that was owned and run by the owner (now deceased) for 20 years. Prior to that, the business was in the same town for an additional 20 years. This business has been in the same community for 40 years!
The business specializes in retail bicycle sales, bicycle repairs and custom bicycle building and modification. In addition, some children’s pedal cars are sold by the business. The family is interested in selling the business since the owner has passed away.
The store features bicycles from Schwinn, Canondale, Fuji, Electra, Mongoose, Eastern, Torker,etc. They sell road, BMX and mountain bikes, along with some exercise equipment, such as, treadmills and steppers.
In calendar year 2013 the store had revenues of approx.. $206K, with a net income of $110K. The store was run solely by the owner with minimal part-time help during the year. He handled all sales and repairs. The store consists of a 3500 sq. ft retail space and a 3500 sq ft. basement. The monthly rent is $4500 (triple net rental lease). The landlord is prepared to sign a new 5 yr. lease at the same rate when a new owner takes over the business. The store features 2 repair work stations, a small office and comes with a 1982 Ford truck as part of the sale price. In addition, there is approx.. $200K in inventory in the store that is included in the asking price as well.
The asking price for the business is $259K. This is a very reasonable price based on the profit and inventory figures.
The business’ goodwill is very strong, based on the fact that the same owner presided over the business for 20 years and the store has been prospering in its upscale community for 40 years. This indicates a strong following by its customers for 2 generations. That kind of presence is rare for a retail business today !

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