BUSINESS SUMMARY:
The Bike Doctor is a retail store specializing in the sale of bicycles, parts and accessories, bike
rentals and repair services. The business was founded in 1991 by the current owner and has
existed in locations on Commercial Drive and now on Broadway for the past 20 years.
The
business is very well known in the community and in the Greater Vancouver area for offering a
wide diversity of products and for the expertise of its staff and as a result has a developed a loyal
clientele.
The business focuses on selling the most popular bike styles and avoids the higher end
products. By offering a large selection of the popular models of bikes, customers are confident
that one of the options is going to be a good choice for their particular needs.
Bike Dr is the top retailer in western Canada of two of the world’s most
popular brands of bicycle bags, the best rack brand and one of the best known lock brands. Bike Dr was again voted best bicycle repair shop runner up in Vancouver this year in Georgia Straight.
This is a turnkey operation in a large square footage property that has undergone recent
renovations, has a competitive lease, a well-organised office, and an effective website.
This is an opportunity to build on a profitable business that allows a new owner to benefit from
an established customer base. It would be suitable for an owner operator who enjoys dealing
with people and has an interest in the cycling industry.
Getting
Around the Vancouver Way
On Foot, By Bike, or On Self-powered Wheels
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RETAIL SPACE/LEASE:
- 6,000 ft2 leased space
- 45' of street frontage
- 3,000 ft2 lower level (currently used for storage,
but could easily be converted for retail use)
- basement storage with
workshop
- offsite storage warehouse
(sub-leased)
- 6 parking spaces
- excellent relationship with
landlord, four years left on lease
EQUIPMENT AND INVENTORY:
- Estimated cost value of inventory at time of writing is $125,000.
Seller is willing to review with buyer to assess value and account for slower selling items.
End of season sales will likely reduce this amount.
- This time of year the store can be largely restocked by booking orders that are available with spring terms;
this is a seasonal routine in the bike industry. 2019 product
is ordered prior to Nov 15th and the inventory is received over the winter
months. You then have April, May and June to pay that large order off in 1/3rd amounts
- Please contact seller with any questions.
FEATURES:
- well established business; in operation since 1991
- located on a very busy transportation corridor with lots of
shopping
- close to
downtown
- active neighbourhood with highest ridership in the city;
estimate over 50% of trips are done on
foot or bicycle
- excellent reputation
- long-term, loyal customer base
- large selection of product
- e-commerce sales are growing quickly
- bicycle repairs account for approximately 7% of revenues
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PHOTOGRAPHS
Please follow this link to
view a gallery of photographs of the business opportunity
including
panoramic 360 views of the interior showing all of the displays and
retail merchandise.
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HUMAN RESOURCES:
- owner works 35 hours per week
- general manager hires, trains and supervises
staff
- purchaser should have the ability to operate a retail business
with staff of up to 20 people maintaining a healthy friendly service
atmosphere
- enthusiasm for cycling of
course would be very helpful
- employees are very experienced and knowledgeable leads with seasonal
staff who are trained each spring to help the customers with their inquiries
- training notes and shop
policies are collected in the shop policies manual
- many of the current staff are very interested in staying on with
new owner
- The owner is willing to stay on for 20 hours per week for a
designated period of time to assist with training and transition to
a new owner. This would be negotiable based on the buyer’s
requirements and level of need.
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ABOUT THE COMMUNITY:
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CLICK HERE to view an interactive map.
(once map is open click on it to zoom in and out)
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Please visit
the
City of Vancouver for information about the community.
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