Chicago - Northern IL LISTING #: 17563
Rare opportunity to acquire a thriving bike store with the real estate available for purchase or rent. Asking 589k for the business and $1M for the real estate. The seller is open to selling both the business and real estate or renting the space to a new business owner.
This shop has been in business for over 20 years and is the only dealer of a certain high end bicycle brand within 40 miles. The shop offers bicycles and accessories for the whole family as well as high-end cycles for enthusiast. The business is located in an up and coming, business friendly area. The business has thrived in 2020 and the positive outlook continues as consumer trends are moving towards eco-friendly means of transportation and outdoor recreation/adventure sports. The shop also sells E-Bikes, battery assisted bicycles that are practical, environmentally conscious, and fun. E-Bikes are already popular in Asia and Europe and quickly gaining popularity in the USA. The shop also has a thriving repair business, and the staff is cross trained to handle all aspects of the operation. The owner enjoys working at the business but does not have to be there to supervise day to day activity. The business allows for a comfortable lifestyle in a fun and growing industry. Please contact email@example.com to sign the NDA and receive the prospectus. Please keep this confidential and do not under any circumstance disturb the employees.
From NDP Industry Reports (https://www.npd.com/wps/portal/npd/us/news/thought-leadership/2020/consumers-are-flocking-to-these-5-activities/):
Shortly after stay-at-home advisories were announced in the U.S., the cycling industry gained momentum from new cyclists.
Many consumers sought family-based activities to keep everyone’s health in check. Dollar sales of bicycles continued to accelerate in June 2020. Sales were up 63% compared to the same time last year. While cycling growth in the early months of the COVID-19 crisis was largely generated from sales of family-friendly bikes, June’s growth came from higher-end bicycles typically purchased by enthusiasts, including road bikes and full suspension mountain bikes.
Dollar sales of bicycles increased 63% in June 2020 versus the same time last year.
Bicycle sales reached $697M in June 2020.
|5 FT 10 PT|
Office: LBB Chicago
Property Leased: No
Monthly Rent: $6,667
FF&E Included: $80,000
Real Estate Included: Yes
Inventory Included: No
Building Size: 7000 sq ft
Hours of Operation: Mon - Fri: 10:00am - 6:00pm; Sat: 10:00am - 5:00pm; Sun: Closed
Reason for Selling: Retirement