50-Year-Old Cycle Store in Wellington Somerset Offering Sales, Accessories, Repairs & Servicing
Wellington, Somerset
- Status
FOR SALE
- Date Submitted:
08/04/24
- Advert ID
609438
- Reference
CY35605X / Rightbiz
- Call Agent:
- Leasehold: £60,000
- Turnover: £189,215 (£3,639 Per week)
- Net Profit: Not Applicable
Business Details
CYCLE SALES, ACCESSORIES, REPAIRS & SERVICING
Destination CYCLE STORE, retailing new and used cycles and accessories, also undertaking servicing and repairs, situated on the SOMERSET/DEVON border, occupying easily accessible WELLINGTON town centre trading position, just off the main shopping thoroughfare of Fore Street, part of shopping arcade, surrounded by other popular businesses to include national retailers, close to car park, surrounded by residential areas, benefiting from new housing developments.
Deceptive premises, approaching 2,000 square feet, well organised and attractively presented. Providing 2 inter-connecting retail areas, 2 inter-connecting cycle display areas, workshop, office, store, and cloakroom. Benefiting from favourable premises costs, rent amounting to just over £150 per week, and receiving 100% business rate relief.
Respected business, established and in same family hands in excess of 50 years, offering wide selection of cycles and accessories for all uses, all age groups, and for all budgets, drawing trade from wide catchment area, enjoying a great deal of repeat business, and attracting new customers each week, with no real direct competition. Sales 2023 £189,215 ex Vat, Gross Profit 82,372 (44%), easily manageable, trading a 5 day week, current owner working part time, ideal for full time owner operator.
Leasehold £60,000 sav Ref: CY35605X
VIEWING STRICTLY BY PRIOR APPOINTMENT THROUGH THE SELLING AGENTS EVERETT MASSON AND FURBY 01404 813952.
Contact Agent
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Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
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