E-xplore Devon Limited trades as an e-bike hire, sales and service centre operating from leased units at the South Hams Business Park, some 1.5 miles from the market town of Kingsbridge. There are currently three income streams generated from the sale of new e-bikes and cycling accessories, hire of e-bikes and the servicing and repairs for a growing customer base. Currently trading 6 days a week during the summer and 5 in the winter with two showrooms, workshop, stockroom and office the business offers the opportunity to walk straight into a fully operational, profitable business with huge potential. Sited on a small industrial estate close to the beaches and the upmarket resorts of Salcombe and Thurlestone, the business is well placed to serve a large area popular with holiday makers and second-home owners. The larger towns of Dartmouth and Totnes are close by providing additional markets for both hire and sales. The premises comprise of two separate adjoining units both with a ground and upper floor and individual WC facilities. The units have been knocked through to provide a large and comfortable working space.
Trading since 2020 E-xplore Devon has grown in to a busy Bosch approved, e-bike centre serving a wide catchment area from Plymouth to Torbay and further afield. An excellent reputation has been developed for quality and service evidenced by on-line reviews and local feedback. Customer care remains at the forefront of the operation and is the defining feature running through all three strands of the business. New e-bike sales account for the majority of the turnover and some of the brands represented include Scott, Bergamont, Haibike, Raleigh, Tern and Corratec. Generally, there are over 20 new e-bikes in stock, ranging in styles from Hybrids and Mountain bikes to Folding and Cargo bikes. Accessory sales include a wide range from the popular sale add-ons of locks and helmets to specialist Brooks saddles, sunglasses and dog trailers. During the holiday season from April until November the business benefits from additional income through e-bike hire on a daily or longer basis. Available as a walk-in service from the hire centre or pre-booked and delivered, e-bike hire remains a popular and growing leisure activity and an exciting alternative to the many water-based activities on offer in the area. It also serves as a great way for locals considering an e-bike purchase to try their hand first or provide someone with an unusual gift experience. The current hire fleet consists of 10 Bergamont hybrid e-bikes with Bosch Performance Line motors and 500wh batteries and 4 Bergamont electric mountain bikes with the same motor and battery configuration. Helmets, locks, tools and hi-viz vests are supplied with each hire. Delivery is fulfilled using a fully sign-written, five-year old, Renault Traffic 1.6 van (73k). Servicing and repairs provide the final thread of the business and is a continually growing area as e-bike ownership increases and becomes a popular alternative to regular cycling in what is fairly hilly terrain. An internal inspection is essential in order to fully appreciate the high standard inherent throughout all aspects of this business.
- Asking Price:
- £79,999 Furniture / Fixtures included
- Turnover:
- £100K - £200K
- Net Profit:
- On request
Property Information
- Property:
-
Leasehold
- Lease Terms:
-
Unit 2L - 3 year lease that commenced in 2020 at the current rent of £7,200 per annum + VAT Currently expired with terms rolling over but opportunity exists to negotiate new IRI lease.
Unit 2M - 5 year lease that commenced in 2020 at the current rent of £5,500 per annum + VAT. Expires 5th October 2025 but opportunity exists to negotiate a new FRI lease. Annual managing agent fee of £375 inc also payable quarterly. Annual Estate Service charge of £250 inc payable. Building Insurance approx £600 payable.
Combined Leasehold Rent:
£12, 700 per annum + VAT plus additional service fees of approximately £1,225 for Unit 2M
- Leasehold Rent:
-
£13,925 per annum
- Location:
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E-xplore Devon is situated in the middle of a busy, private industrial estate with around 70 other businesses including boat sales, surf shops, plumbing and electrical supplies and garages to name but a few. The local village, Churchstow is just 1.5 miles from Kingsbridge and approximately 4 miles from the resort of Salcombe. Close to the main road between Plymouth (21 miles East) and Dartmouth, transport links are good and the beaches and countryside of this recognised Area of Outstanding Natural Beauty are all within easy reach. The South Hams enjoys one of the mildest climates in the UK and the area is widely regarded for its leisure, yachting, water sport and marine activities. The crime rate is low and with excellent local schools and facilities it is a very special place in which to work and live.
- Premises Details:
-
Unit 2M
Main groundfloor shop with large window and showroom of approx 40sqm with LED lighting, electric heating, understairs storage and fully carpeted. The walls are clad in shopboard for displaying accessories together with a counter/desk, chair, and promotional TV. Stairs lead to another first floor showroom area of approximately 30 sqm again fitted with shopboard, LED lighting and carpeted. To the rear there is a store-room and WC. The groundfloor shop has a permanent opening to a workshop next door.
Unit 2L
Groundfloor workshop of approximately 45 sqm with a painted floor. Workbenches including a large vice and pillar drill. Tool and storage chests with additional shelving, boarding and racking to accommodate a wide variety of tools and equipment related to bicycle service. Compressor and air-line along with a separate raised platform for additional hire-bike storage. Much of the wall space is clad and painted to provide an attractive finish. LED lighting and electric heating with separate kitchen and WC facilities. Large range of well-placed sockets. Upstairs there is a carpeted 33 sqm stockroom/additional showroom with some shopboard, LED lights, UPVC windows and shelving. Next door is an office of some 7 sqm again with carpet, filing cabinets, shelving, LED lights and a desk and chair.
Outside the units there are 4 dedicated parking spaces with an additional two a short distance away. Both units are alarmed and monitored with CCTV internally and externally. Additional bars and grills are fitted to windows.
- Size in square feet:
- Approx 1,720
Business Operation
- Expansion Potential:
-
Our client advises that there is potential to increase the current trade by taking on additional staff and opening on Sunday's, especially during the main summer season. There are huge opportunities for further marketing, advertising and particularly social media initiatives including an overhaul of the website to possibly include e-commerce revenue. Other initiatives could involve a greater presence at local shows, events and markets throughout the year utilising a fully-branded trade gazebo and other marketing products . The opportunity to extend the range and offering of existing e-bike brands and accessories also exists along with the chance to enter the regular cycle sales market at no additional cost. It is probably the hire-side where most opportunity presents itself due to the huge number of local untapped accommodation providers and an increase in the activity-based holiday market. The sale of E-xplore Devon Ltd represents a rare opportunity to acquire a quality, leisure-based business in a most sought after and desirable South Hams town and new owners will benefit from being able to move in without the need for any additional expenditure on the premises. Coupled with this, the business enjoys good levels of year-round trade plus a substantial boost during the summer season. An early appointment to view is recommended in order to fully appreciate all that this quality leisure business has to offer and the potential that exists.
- Competition / Market:
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Competition for sales exist from other shops selling e-bikes. The closest being around 20 miles away. However, internet sales are probably the greatest concern but most people do prefer to try before they buy with e-bikes. There are a few other businesses offering hire but none on the scale of e-Xplore Devon and due to location will have little impact on the hire side of the business.
- Reasons for selling:
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E-xplore Devon is being offered for sale as a result of expansion and changes within other business interests and a resulting lack of staffing and resources required to take the business to the next level.
- Trading hours:
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Winter - Tuesday to Friday 9-4 and Saturday 10-4
Summer - Monday to Saturday 10-5 (hire deliveries before 10)
- Employees:
- Two owner operators
- Years established:
- 5
Other Information
- Support & training:
-
Full demonstration of the e-bikes, sales procedures, hire procedures and service equipment. Training on the use of EPOS equipment and Hire Booking software and website maintenance.
- Furniture / Fixtures value:
- £10,000 - included in the asking price
- Inventory / Stock value:
- £80,000
- Relocatable:
- This business can be relocated.