Must Sell Profitable Established Cycle Shop In Islington | | Islington London | | The Business Partnership is delighted to act as sole agents in the sale of this profitable, established cycle shop in the borough of Islington. | | ADVERT NUMBER : 63628
ADVERT IMPRESSIONS : 17,643 TIME(S) | | | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Other | | SALE: | Agent Sale | LEASEHOLD: | £35,000 | | | | | BUSINESS DETAILS: | ** For personal reasons, the owner now wishes to sell as quickly as possible and is seeking cash offers in the region of £35,000 (previous asking price was £125,000) **
This independent store offers a comprehensive range of services and cycles for sale. It has a great reputation for the unbiased advice and support provided to customers, who return to have their bicycles maintained by the same knowledgeable people who they bought from.
The convenient location means that commuters can drop their bikes off for servicing in the morning, catch a bus outside or take the nearby tube to work, and return at the end of the day to collect.
The store offers a range of bicycles for sale, including Scott, Trek, Bontrager.
The store is a member of the Cycle to Work Scheme, a government initiative which allows employers to buy bikes tax free for their employees.
Key Features:
* Great location in an attractive parade of upmarket stores
* No local competitor
* Spacious retail area and workshop, with underutilised storage downstairs
* Refurbished frontage with newly fitted roller security shutter
* Very profitable maintenance services
* The store is on the proposed cycle superhighway, close to university and college
Location:
The store is centrally located in an attractive parade of shops. There is short term parking in front on a major A road. Close by is an undeground station and a further 5 minutes walk away is an overground station. A university and college are nearby.
Premises:
The retail area is accessed off the wide pavement through a side door of the newly refurbished front. Behind the service area is the fully fitted workshop. Downstairs is the storage area which may be opened up for further display or to move the workshop into. Total area approximately 100m2. The renewable 10 year lease has 5 years left. Rent, which is to be reviewed later in 2011, is £18k. Business rates are approximately £5k. Rateable value is £15k.
Potential:
The downstairs area is currently used for storage but may be opened up for further display or to relocate the workshop into. Little advertising has been done recently and certainly the nearby college and university would be an initial target market. Local employers may be approached to offer the Cycle to Work Scheme to their employees.
Hours:
Mon - Fri: 8:30 - 6:30
Sat : 9 - 6
Sun: 11 - 5
Staff: 2
Financials:
Turnover to 31 Jan 2011 was £235k
Gross Margin was £113k
Other:
The two knowledgeable full time staff run the store and would remain in place under the new owner.
All fixtures and fittings are included in the price.
Reason for selling:
The owner wishes to concentrate his efforts on his other store, situated closer to his young family. | | | | | | SOLD or WITHDRAWN FROM MARKET | | | | | | | | | | | |
