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Popular & Well Known Cycle Repair Shop For Sale

Westcliff-On-Sea, Essex
Asking Price:
£29,995
Turnover:
£30,046
Net Profit:
Available on request

Business
Hilton Smythe welcomes to the market Southend Trading Limited, which is a name synonymous with the area for circa 70 years. The business moved to its current location in 2004 and has been solely owned by our client since 2005. Our client is now looking forward to a well-earned retirement.

Southend Trading Limited is a well-established and locally known cycle repairs and sales shop, which has not been advertised. It exists purely on word of mouth recommendations and returning customers. The owner prides himself on having everything you will need to upkeep your bike and offers a cycle servicing centre that is unrivalled locally.

Although the business is well established and has the benefit of many returning customers, the business can be developed further by bringing it into the 21st century with a website and social media pages.

The business does have 100% 5* reviews on Yell.

Hilton Smythe highly advise early viewing to avoid disappointment.

Location
Southend Trading Limited is located in Westcliff-On-Sea within Essex.

The business is located close to a main junction and is easily found. The business is also close to other businesses bringing in a high footfall to the area.

There is parking to the front and to the rear for a total of 2 cars.

Premises
Entrance door to the main shop with the main show room area to the front and the service area to the rear.

There are many bike stands, shelves and hooks and a counter with till.

The service area has a workbench and vice, a cycle repair stand and numerous shelves and storage areas for parts. There is also a sink in this area and a door to the rear courtyard area.

The outside has a small courtyard area with gate to the rear parking for 1 car, door to outside WC, and a large storage shed.

Tenure
We are advised the business is being sold as a Leasehold business opportunity.

Our client currently has a rolling lease and pays £6,500 per annum rent. The landlord would be looking to set up a new lease with the new business owner.

Hours
The business opening hours are currently:
Monday - Friday: 9.30 am – 4.30 pm

Saturday - Sunday: Closed

Our client often takes a day off each week, so the shop is only open 4 days a week, this is due to our client looking towards retirement.

The hours could be extended to be open until later in the week and open at the weekends. There are no restrictions on the lease regarding opening times.

Staff
The business is run and managed by our client.

Financial Profile
Southend Trading Limited generated an advised turnover of circa £30,046 as of the 2017 accounts, with a gross profit of £23,163 and an adjusted net profit of £12,668.

The assets in the business are worth circa £2,000.

Property information

Property:

Leasehold

Contact Information

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  1. What will happen?

    We will pass a copy of your enquiry information, along with the name of the business you enquired on to finance specialists Rangewell. They will contact you in due course about financing your business purchase.

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