SBA Pre Approved, Growing Bike Shop w/$200K Inventory Incl, Eastern LI
SBA Pre Approved, Growing Bike Shop w/$200K Inventory Incl, Eastern LI
Price: $800,000
Location: Suffolk County, NY
Industry: Sporting Goods, Hobby, Musical Instrument, and Book Stores
Listing ID: RaptID_5589
This is an exceptional opportunity to acquire a well-established, highly profitable sporting goods business that can be acquired with a small buyer investment. SBA and/or seller financing available. This well-known shop has been providing premium services to bike and beach enthusiasts on the East End of LI for over 25 years.
The business is located in an affluent community on the east end of LI, with high-income clientele assuring low risk that a recession will affect sales and profitability. The sporting goods industry is growing, and ownership has had difficulty keeping up with orders over the past several years. No special skills or licensing is required to operate the business.
The business operates out of a store jammed packed with inventory, on a major road and sells, services, and repairs:
- a complete line of bikes
- sells watersports gear
- Kayaks & paddleboards
- carries a complete line of accessories (shirts, shoes, gloves & more)
Total Sales: $1,020,000
Cash Flow: $340,000
FFE Included: Yes
FFE: $50,000
Reason For Sale:
Owner has reached retirement age.
Training & Support:
Seller will remain for reasonable period of tiime to transition business.
Year Established: 1996
Employees: 8
Monthly Rent: $3,750
Type of Location: Leased
Square Footage: 1,500 sq/ft
Facilities Information:
The business operates out of a corner store on a main road close to local beaches and bike trails. The store is 1,500 square feet, with a full basement and an ~ 750 square foot loft. Adequate parking is available in a lot behind the store. The present lease extends through January 1, 2029, with an option to re-new for 5 years at Fair Market Value.
Lease Expiration:1/1/2034
Potential Growth:
There is significant room for growth. The East End of LI is becoming more of a year-round residential community, and everyone has become health and fitness conscious, especially the affluent community. While present ownership originally wanted to operate a seasonal business, affording the opportunity for several months off a year the business has become more year-round. There is opportunity for a new owner to expand to a less seasonal model by adding additional products (e.g., exercise equipment) and increasing store hours.
Financing/Terms:
SBA financing of $800,000/7.5%/10yr. with $235,000/dn is available.to qualified buyer, or seller will finance Alternatively, owner financing of $550,000 at 6% for a 5-year term is available, on a case-by-case basis, solely at the seller’s discretion..
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