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Cycling & Skateboard Retail Shop in a prime High Street Location

Ref. AM175

Location : Hertfordshire

Asking Price : £100,000 + SAV

Turnover : £140,000

Net Profit : £60,000

Gross Profit : Undeclared

EBITDA : Undeclared

Net Asset : £12,000

Premises : Leasehold

Confidentially offered for sale


  • Turner Butler

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Leasehold

Asking price includes:

Turnover circa £140,000 per annum (Forecast)
Adjusted Net Profit circa £60,000 (Forecast)
Net Assets circa £12,000

Excellent position in a Parade of busy local shops
Fixtures and fittings
Up to date EPOS technology
Regular and reliable regular customers
Busy and popular town
Significant Goodwill

Business Profile

Extremely well established cycling and skateboard shop, owned by the present Husband & Wife team since 2016. The business is in a prime high street location, being one of the main thouroughfares in this busy and popular Hertfordshire Town and well positioned among other popular retailers with established clientele. Conveniently located at 25 min train from central London, in close proximity to many well established residential areas and other new residential & large developments provides an excellent and growing customer base.

Well known in the locale for the wide selection of products, from recognisable road & off-road leisure bikes to electrically assisted bikes, including tricycles. The business benefits from unopposed competition and dealership agreements with many prestigious Brands. As well as bikes the business has a growing following with the local skateboarding and stunt scooter communities and is a real destination location for young and old enthusiasts to visit for boards, parts, accessories and repairs with its fully equipped workshop with approved Bosch ebike Dealer and Bosch Certified ebike Service Centre credentials.

The real power and energy of the shop comes from the attentive and courteous service provided by the staff and the high levels of customer service and satisfaction they generate.

Not surprisingly, the shop enjoys a good level of patronage – including circa 300+ active customers on company database; the store enjoys a high perecentage of repeat custom.

This opportunity is an ideal business for anyone looking to engage with the Cycling or Skateboarding sector or for someone already in the sector looking for a strongly performing, additional outlet to bolt on to their existing business activities.

Equipment:

The shop has all the equipment normally associated with a business operating in this sector and uses specialist Electronic Point of Sale (EPOS) equipment and software for sales, stock and customer statistics management.

Key Strengths:

Ideally located in this prime High Street position close proximity to many other successful retailers in a busy parade of outlets, with its tremendous passing trade due to imminent significant increase thanks to the major investment/ rennovation works currently undergoing in the immediate vicinity and surrounding Town Centre areas.

The shop has an extensive selection of stock, monitored regularly and that has been popular with customers over many years.

The breadth of product choice in combination with the quality of service provided by the knowledgeable and attentive staff, makes this shop stand out among the many competitors, including online alternatives.

The shop is very well known and established in the area.

The shop is run and managed on a day to day basis by the vendor and staff.

Key Opportunities:

By possibly introducing other complementary products and services it could capture more of the local market.

Financial Information:

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

Trading is robust and we are informed by the vendor that his accounts for the most recent year will show:

Turnover circa £140,000 per annum (Forecast)
Adjusted Net Profit circa £60,000 (Forecast)
Net Assets circa £12,000

Asking Price:

The Asking Price of £100,000 including Net Assets is for 100% of the issued capital of the company, assuming Net Assets of £12,000 on completion (calculated on a zero cash-zero debt basis). The final selling price will have a £1 for £1 adjustment for any rise or fall in this benchmark Net Asset figure of £12,000 at completion.

Advertising and Marketing:

The business has an attractive and informative website and free listings in local publications and their online versions.

Growth and Expansion:

The business has grown organically and with further marketing for both the shop and the regular updating of the website could build on the existing excellent customer base.

In addition to this a new owner could open the shop for longer hours or bring new ideas for new product ranges to the customer base.

Premises:

The premises are leasehold with a 5 year renewable lease. The square footage is circa 800 sq. ft and includes a shop floor, stock room and office area with a large safe.

Rent is currently £875.00 /month
The lease contract is due for renewal in 2023

Business Hours:

Monday – Friday : 10:00 – 17:00
Saturday: 10:00 – 17:00
Sunday: Closed

Employees:

The Company currently employs 3x Staff:
• 1x Managing Director (Vendor)
• 1x Sales Assistant (working at the shop, part-time, Saturdays)
• 1x Marketing Assistant (working from home, part-time, 8 hours/ month)

Support and Training:

The vendors would be happy to stay and hand-over and are happy to provide training for an agreed handover period.

Reason for Sale:

Genuine retirement sale.

Looking for finance ?

If you are looking for finance to fund your business purchase then we recommend that you talk with our independent finance broker. Because of his many years working at a senior level for a major high street bank he has had more success with finance applications than anyone else we know. He has helped numerous purchasers of businesses that we are selling, including buyers who have been turned down by their own bank! Call us today on 0800 046 1652 or email us at finance@turnerbutler.co.uk

Turner Butler Disclosure Statement

This statement applies to information relating to any company or other undertaking or business advertised for sale by Turner Butler (a 'Business')

The information supplied by Turner Butler on its website or in any other promotional material ('the Information') is not and is not intended to constitute an offer for sale of the Business or any assets of the Business or of the shares of any company which owns the Business.

For the avoidance of doubt there is no intention to create a legal relationship which will only come into existence when a written contract for sale and purchase of the shares in or the Business has been entered into

The Information provided is not intended to address your particular requirements. Further the Information does not constitute any form of advice recommendation representation endorsement or arrangement by Turner Butler and is not intended to be relied upon in making (or refraining from making) any specific decisions.

Any agreements transactions or other arrangements made between you and any client of Turner Butler are at your sole risk and responsibility. The prospective sellers of the Business have provided the Information to Turner Butler. The Information has not been verified by Turner Butler.

You must carry out your own due diligence and satisfy yourself as to the accuracy of all matters. In the case of the sale of shares in a Business the Information has been prepared on the basis that the shares will consist of or include more than 50% of the voting shares and that both the seller and the buyer is either a body corporate, a partnership, a single individual or a group of connected individuals so as to fall outside the scope of regulated activities as defined by the Financial Services and Markets Act 2000. If you are considering a transaction which falls within the scope of such regulated activities you cannot do so through Turner Butler.

Appropriate professional, legal and accountancy advice should be obtained before making or refraining to make any decision.

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Turner Butler
Ickenham House, 2-4 High Road, Ickenham, Middlesex, UB10 8LJ
Telephone 01895 25 6000 Facsimile 01895 678532
info@turnerbutler.co.uk
www.turnerbutler.co.uk