||Employees||2 full, 1 part
* Included in Asking Price
Priced at only 1.32 times net cash flow, this is an outstanding value. This San Francisco shop is focused primarily on used bikes. Many of the customers are new to bikes, or getting back to biking after a long time, and are drawn, perhaps at first, by the idea of owning a used but expertly reconditioned bike brought to a reliable, maintainable standard for recreation or for commuting to work. While the shop does carry a variety of new bikes and a well-curated selection of bike parts and accessories, its primary claim to fame is its long-term, Bay Area-wide reputation as a refurbishing specialist. A major part of its unique business model is to buy used, well-designed bikes, refurbish them to optimal condition and resell them for reasonably affordable prices. Whatever the pedigree, each bike gets loving attention. And if the shop owner does not have in stock a necessary part, he is almost always able to source whatever is needed through his reliable supplier network.
The business has maintained consistent profitability even though the owner does almost no marketing. Most of the customers come through word-of-mouth or referrals from other shops that don't want to deal with used bikes.
Another very satisfying aspect of this business is the fact that it is environmentally "green". Biking in general is a relatively earth friendly form of transportation and promotes a healthy lifestyle. The business model of this shop takes it a step further in that it breathes a second life into bikes for reuse.
This has been a lifestyle type of business for this owner and he has not been proactive in exploiting opportunities for growth, of which there are several.
The buyer of this business could be a true bike geek, a skilled bicycle grease monkey, someone with expertise in retail sales and marketing or just someone with a deep appreciation for pedal-power. If you are a bicycle enthusiast who wants to be your own boss, here is a great opportunity.
Required Licenses: Business
Real Estate Number: 01731143
|Competition:||There are several other bike shops in the city but none in close proximity to this shop and none operating under such a unique business model combined with such a favorable, well-established reputation. It has excellent Yelp reviews.|
|Growth Potential:||The facility has space for expansion which would allow room to add inventory, hire another mechanic or two, offer training clinics, etc. As noted, the current owner does almost no direct marketing. Much could be done to establish an online presence to generate new customer leads. Further market awareness could be garnered through cycling event sponsorships, etc.|
|Training/Support:||The seller will provide some training and help a new owner successfully transition into this business. The mechanic is likely to remain after the business transfers to a new owner.|
|Seller Financing:||Seller will consider some financing for a qualified buyer|
|Sale Reason:||Relocation out of state|
Seller Reference #OAKLACA001-N176
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