Founded in 2020, this omnichannel electric mobility retailer and repairs shop has experienced significant and sustained growth within the growing electric scooter and bike market over the past three years. The company specialises in premium e-scooters, providing comprehensive sales, repair & parts, upgrades and customisation services.
Based in the south-west of England, the company boasts a strong digital presence, with an online e-commerce website, as well as leased premises. These premises encompass a shopfloor and a workshop for repairs and customisation, as well as two bathrooms, a kitchen and additional space for stock.
Currently operating with three employees, the business enjoys an outstanding reputation in the market with 4.7/5 star rating on Google across 207 reviews, and has cultivated a repeat customer base, both regionally and nationally. Word-of-mouth recommendations, referrals from other players in the industry, and an active social media presence generates a steady stream of new leads.
Although young, the company has undergone exponential growth in recent years, over doubling its turnover from £145k in 2021 to £353k in 2022, while increasing its gross profit margin from 31% to 38%. In 2023 turnover has increased to £436k.
Driven by the green transition and government incentivisation of electric mobility, the e-scooter market is undergoing significant growth, with the UK’s market alone projected to grow by 19% between 2024 and 2028, according to Statista.
Highlights -
A young company that has undergone significant growth;
Omnichannel sales;
Impressive financial profile, showing considerable growth in turnover and gross profits;
Over 3000 active customers;
Receives frequent referrals from other players in the industry;
High percentage of repeat custom;
Nationwide operations with multi-channel sales.
Self-sufficient business with little shareholder input required.
Opportunities -
Potential for expansion into international markets;Well-placed to capitalise on the young but growing e-vehicle market within the lucrative niche of electric scooter and bike repairs and sales.
Financial Profile
2022 Turnover IRO £436k.
Offers invited from £190,000
