Unique, long established cycling events business

Undisclosed, Relocatable
Asking Price:
£235,000
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Status
FOR SALE
Advert ID
189967

Details

Unique, long-established cycling events business for sale
£235K including £55K of assets.
Consistently profitable business supplying cycling try-out roadshows and activity days to local authorities, schools, workplaces and events companies. Strong repeat business, operating nationally, easily relocated. With amazing cycles plus an 'arcade' of static pedal-powered fun machines designed and built by us.
Get Cycling Events is an unusual, high-margin business with 17 year of solid experience to pass on. We maintain a fleet of very varied cycles, from which we normally select 20 or so according to our commissioning clients' requirements (school, workplace, city centre, park). These events usually involve the general public having fun cycling in a closely controlled area: often in a public square, tennis court, or school yard: with music and atmosphere supplied by us.
Apart from the bikes we have also developed an arcade of fascinating static attractions mostly uniquely developed by us: a pedal-powered velodrome, scalextric racing set, music and light machine, bike race simulator, smoothie-maker etc. These can be rented out as separate attractions. We can also offer clients one or more of our three megabikes: we have a seven-seater circlecycle, an eleven-seater pedalbus, and a smart rickshaw (which we also rent out for weddings). We also have a pedal-powered sofa, a portable mountain bikes skills track, plus around 30 very varied fun cycles on a junior track for the under-sevens, and a penny farthing for a showman to ride in costume.
We generally charge £2000 for a standard roadshow, and more if any of the above extras and/or long distances are involved. Occasionally festival organisers pay us £5000 to £7000 for a day of fun, which takes us to full capacity in terms of assets and trained staff. Turnover is around £260K with a 2016 margin of 62%. Staffing is the main cost, so there is a scope for owner-operators to achieve a much higher margin. A typical roadshow goes out with two to five staff depending on the number of cycles/statics/megabikes supplied. In most cases three staff are enough. These are usually well trained 'casual' workers.
Get Cycling Events are currently a division of our not-for-profit community interest company, Get Cycling. Our more recently established disability cycle retailing department has come to predominate, and we have spent virtually nothing on marketing Get Cycling Events: we react to enquires from repeat business and websearches rather than go out and get new business. It needs to be in new hands, to achieve its full potential. Early bookings for 2017 are looking good. Major long-term local authority clients have just been given three-years of cycling promotion funding.
Even at current levels of turnover Get Cycling Events can, with 2.5 FTE office-based staff, and with our realistic estimate of conventional small-business running costs operated independently, return a profit of £60K net per year, with even more net income retained if an owner-manager is involved. It can be run from almost anywhere fairly central in the UK. Its current base in York costs around £9000 per year in rent and rates, and if you want it to continue in York, experienced staff can transfer (or not).
The asking price comprises of £235K, including £55K for all assets. The assets include all cycles, four specialised multi-seater megabikes, try-out extreme skills track, specialised trailer, all pedal-powered arcade games, workshop equipment, designed materials, banners, signage, track equipment, 32-page Get Cycling guides for beginners (given away at events), operating handbook, access to all current well-trained casual workers, risk assessment documentation, extensive training package, and our client database. Vehicles and additional trailers can be included if desired. Please note that we are currently in a phase of upgrading and acquiring assets, and selling off tired ones: so the asset valuation may alter slightly, in either direction.
Get Cycling Events has been part of our ethos and mission as a social enterprise. It is important to us that we see it thrive in new and capable hands. We will give extensive training and support. We can suggest a development plan to greatly increase turnover, but our best advice for now is: bring in the marketing professional which we never did! Once you have refined the product to your satisfaction, then you might consider offering regional franchises.
Please note that this was previously advertised for a higher sale price, but we have since decided to remove from the offer a bike loan programme for a single client, with an annual turnover of £66K and which is not really an event, is too specialised for most, and is in any case up for tender. We will run it through our bike shop. It can be 're-included' on request.
Reason for sale? We're at retiring age and want a simpler life! We want to invest the income in our fast-growing disability cycling retail department and concentrate on just that.
Get Cycling Events is a delightful and unusual business with no serious competition. It has great potential for growth, especially in the under-explored events industry. It plugs into a growing interest in cycling and sustainable living. Do not buy this business unless you love bikes or are prepared to employ someone who loves bikes.
Listing Details
Asking Price: £235,000
Tenure: Other
Sector: Events Businesses, Bicycle Businesses, Sports Centres
Website: http://www.getcycling.org.uk
Financials
Annual Turnover: £260,000
Annual Net Profit: £60,000
Key Features
  • High Turnover
  • Established Business
  • Accounts Available
  • Price Reduced
  • Attractive Business
  • Free of Tie Leasehold
  • Company for Sale
  • Unique Business
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