Well established Cycle Shop Repairs Hire Business In Cheddar Somerset For Sale

OFFERS ARE INVITED for a very well established family run cycle shop, with a repairs workshop and cycle hire which remains busy all year round.

Set in the popular tourist spot and cyclist destination of Cheddar, Somerset, and situated close to the Strawberry Line National Cycle Route.

The store has a substantial showroom, allowing for effective product display and offering a wide range of bikes from junior, leisure, touring, electric, mountain and road bikes, all complemented by the well stocked clothing and accessories lines. The busy workshop is fully equipped (and would be sold including tools and workstands) and is staffed by the current owner and one part time mechanic.Current trading days are Monday to Saturday 9am to 5:30pm, closed on Sunday and bank holidays. Plenty of free parking for customers and staff on site.

This is a fantastic business with a good turnover and gross profits, which would ideally suit an enthusiastic owner who could push the business forward to the next level, with more promotion and advertising, extending opening hours to Sunday and Bank Holidays, particularly with the cycle hire side of the business which has huge scope to expand. Cheddar is currently expanding with new housing developments and the shop has an excellent catchment area including affluent local villages with no other cycle shops within a 10 mile radius. Huge scope to expand on the existing loyal and regular customer base.

The current owners have successfully run the business for over 14 years and are selling to allow them a well-earned retirement. The current owners could offer a one month handover period if required. Selling price has been reduced significantly from the original valuation to allow for a quick sale.

An internal inspection is very highly recommended to appreciate the excellent location, huge potential and superb business on offer. There is also a possible opportunity to buy the business situated within a smaller retail unit with the workshop and cycle hire – by discussion and negotiation.

Stock can also be included by negotiation.

The accounts show a healthy turnover of £183,012 for the year to 10th December 2016 with a gross profit of £96,649.

According to the VOA website the current rateable value is £20,350 with rates payable of £9218.10 per annum.

The business is being sold as a leasehold opportunity with a 5 year lease. The yearly rent payable is £17400 per annum.